Calibre Officers and Directors Exercise Warrants

Jan 31, 2011

Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the "Company" or "Calibre") announces that 3,700,000 warrants at a price of $0.15 per warrant have been exercised by Officers and Directors of the Company for total proceeds of $555,000. Shareholders of the Company have also exercised 2,150,000 warrants for total additional proceeds of $322,500.

Robert Brown, President and CEO of Calibre commented, "We wish to express our appreciation to all our warrant holders for their continued support and confidence in Calibre and our projects. The exercise of the warrants provides the Company with the necessary capital to continue our exploration work in Nicaragua, including our drilling program at the 100% owned high grade Riscos de Oro vein system, as well as providing some additional working capital."

Calibre's 2,500 metre phase II drilling program at Riscos de Oro is scheduled to commence in the middle of February 2011. The Company has executed a drill contract with Rodio Swissboring of Nicaragua to conduct the program. Calibre will be following up on multiple high grade gold and silver drill intercepts from our initial 2010 drill program on the Riscos deposit including: 4.23 g/t Au and 384.86 g/t Ag (11.63 g/t Au Eq.) over 8.53 metres (DDH RD10-009); 9.04 g/t Au and 30.02 g/t Ag (9.62 g/t Au Eq.) over 4.14 metres (DDH RD10-005); and 8.81 g/t Au and 55.74 g/t Ag (9.88 g/t Au Eq.) over 3.4 metres (DDH RD10-003).

Calibre Mining Corp. is an aggressive TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold, silver and copper deposits in Central America. Major shareholders of Calibre include Sun Valley Gold and Yamana Gold Inc.

Calibre Mining Corp.

Signed "Robert Brown"
Robert D. Brown, B.Sc., MBA
President and CEO

For further information contact:
Mark Carruthers - Vancouver, Canada
604 681 9944

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


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