Calibre Announces Updated NI 43-101 Inferred Resource Estimate at the 100% Owned Point Leamington Massive Sulphide Deposit, N...

Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased
to announce a National Instrument 43-101 Inferred Resource Estimate at the
Company's 100% owned Point Leamington Massive Sulphide Deposit in north-central
Newfoundland, Canada. 


Tetra Tech Inc. ("Tetra Tech") of Sudbury, Ontario, Canada completed the Point
Leamington Inferred Resource Estimate at a cut-off grade of 4.0% ZnEq, of
14,100,000 tonnes grading 1.86 % Zn, 0.42% Cu, 0.02% Pb, 1.07 g/t Au and 17.12
g/t Ag (6.15% ZnEq) containing 577M lb zinc, 130M lb, copper, 6.2M lb lead,
484,000 oz Au and 7,755,000 oz Ag as outlined in the table below: 




Point Leamington Massive Sulphide Deposit, Newfoundland                     
2013 Inferred Mineral Resource Summary                                      
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ZnEq %         Tonnage       Zn       Cu       Pb       Au       Ag     ZnEq
----------------------------------------------------------------------------
Cutoff               t        %        %        %      g/t      g/t        %
----------------------------------------------------------------------------
4.0         14,100,000     1.86     0.42     0.02     1.07    17.12     6.15
----------------------------------------------------------------------------

1.  CIM definition standards were followed for the resource estimate. 
2.  The 2013 resource models used Inverse Distance grade estimation within a
    three-dimensional block model with mineralized zones defined by
    wireframed solids. 
3.  A base cutoff grade of 4.0 % ZnEq was used for reporting resources. 
4.  Densities varied by rock type and ranged from 2.6 for the volcanics to
    3.7 for the massive sulphides. 
5.  Numbers may not add exactly due to rounding. 
6.  Zinc Equivalent (ZnEq) calculated using $0.94/lb for Zinc, $1.00/lb for
    Lead, $3.69/lb for Copper, $1380 /oz Au for gold and $22.73/oz Ag for
    silver and metallurgical recoveries and net smelter returns are assumed
    to be 100%. 
7.  Mineral Resources that are not mineral reserves do not have economic
    viability 
8.  The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as an indicated or measured mineral
    resource and it is uncertain if further exploration will result in
    upgrading them to an indicated or measured mineral resource category.



President and CEO, Greg Smith, states; "This updated resource estimate for the
Point Leamington Massive Sulphide deposit has confirmed the significant nature
of the mineralization at Point Leamington. The completion of this work will
allow Calibre to evaluate alternatives for the advancement of the project." 


The Resource Estimate was prepared by independent qualified person Todd
McCracken, P. Geo. of Tetra Tech. The mineral resource estimate is based on the
combination of geological modeling, geostatistics and conventional block
modeling using the Ordinary Krig methodology of grade interpolation. The mineral
resources were estimated using a block model with parent blocks of 10m X 10m X
10m. The geological model including mineralized intercepts was generated by
Tetra Tech. 


The Tetra Tech Resource Estimate also evaluated the Point Leamington Deposit at
a range of cut off grades between 3.0 % and 8.0 % ZnEq. Results are as follows;




----------------------------------------------------------------------------
----------------------------------------------------------------------------
ZnEq %         Tonnage       Zn       Cu       Pb       Au       Ag     ZnEq
Cutoff               t        %        %        %      g/t      g/t        %
----------------------------------------------------------------------------
----------------------------------------------------------------------------
3           19,367,000     1.63     0.37     0.02     0.95    15.42     5.42
4           14,093,000     1.86     0.42     0.02     1.07    17.12     6.15
5            9,669,000     2.11     0.46     0.02     1.22    18.55     6.91
6            6,184,000     2.36     0.50     0.02     1.41    19.76     7.72
7            3,460,000     2.69     0.52     0.02     1.68    21.32     8.70
8            2,038,000     3.02     0.51     0.02     1.95    23.09     9.58
----------------------------------------------------------------------------
----------------------------------------------------------------------------



Tetra Tech 's resource estimate for Point Leamington is based on drill core
assay results from a total of 77 holes totaling 24,152 metres of drilling
completed by Noranda (1971-1997), Rubicon Minerals Corporation (1999-2000) and
Calibre (then TLC Ventures - 2004). Statistical and geostatistical analysis was
completed on the total database of to assess the characteristics and
distribution of zinc, gold, copper lead, and silver values across the deposit.
Variograms were generated for zinc, gold, copper and silver and search
parameters established for grade interpolation using kriging.


The Point Leamington mineralized zone is a volcanogenic massive sulphide system
consisting of a series of massive sulphide bodies and associated sulphide
stringer hanging wall zones. The model has also incorporated a set of post
mineral faults and porphyry dykes.


A two phase, $2.5 million success contingent work program has been recommended
by Tetra Tech. The first phase consists of 1,400 metres of additional diamond
drilling, metallurgical testing, and surveying at a cost of $400,000. The second
phase, contingent on the success of phase 1, consists of 12,000 metres of
additional drilling, metallurgical testing, additional technical studies, and
surveying at a cost of $2,100,000. A National Instrument 43-101 technical report
is being prepared and will be filed in the next 45 days.


The Point Leamington resource estimate data in this news release was read and
approved by Todd McCracken, P.Geo. of Tetra Tech, who is independent of Calibre
and a Qualified Person ("QP") as defined by Section 1.5 of National Instrument
43-101. 


Mr. Gregory Smith, P.Geo, the President and CEO of the Company, is the Qualified
Person as defined by NI 43-101, and is responsible for the accuracy of the
technical data and information contained in this news release. 


About Calibre Mining Corp.

Calibre controls a 100% interest in 429 km2 of mineral concessions and
additionally, Calibre has joint venture exploration programs underway with
B2Gold Corp. on 322.3 km2 of concessions which include the Primavera gold-copper
porphyry discovery and Alder Resources Ltd. on the 33.6 km2 Rosita
gold-copper-silver project. Major shareholders of Calibre include gold producer
B2Gold and investment fund Sun Valley Gold.


Calibre Mining Corp. 

Greg Smith, P.Geo., President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Calibre Mining Corp.
Ryan King
604 628-1012
www.calibremining.com
Calibre Mining (TSXV:CXB)
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