Calibre Mining Corp. provided an update as the company and B2Gold Corp. continue to advance the Joint Venture on the Borosi Concessions, Northeast Nicaragua.

Current field work is focused on the Monte Carmelo Gold Project, which is located north of the town of Rosita, where geological mapping and geochemical sampling has outlined skarn and structurally-related gold mineralization. The overall size of the main skarn body is >700 m by 200-300 m. On-going exploration at the Monte Carmelo Gold Project consists of auger sampling and surface mapping and rock samples. A total of 110 samples in four lines which includes two NW-SE lines along the trend of the mineralization and two NE-SW lines crossing the mineralized trend.

The samples in the main zone at Monte Carmelo show a consistent >0.5 g/t Au gold anomaly that extends 370 m long and 35 to 100 m wide. Additional auger sampling will be completed on the Monte Carmelo Main Zone area as well as in the Los Chontalenos garnet skarn to the east where local samples with gold anomalies are reported from previous sampling. Assays for 114 samples were received (110 rocksoils and 4 rocks) taken in November and December.

Of the 110 rocksoils analyzed 97 of them returned >0.1 g/t Au including 55 >0.5 g/t Au, 37 >1.0 g/t Au, 18 >2.0 g/t Au and 8>5.0 g/t Au with a high of 38.4 g/t Au. Gold shows a very good correlation with Bi and Te and a fair correlation with W, Fe, Mn and U.