Calibre holder B2Gold exercises 10 million warrants

2014-07-28 09:19 ET - News Release

See News Release (C-CXB) Calibre Mining Corp

Mr. Douglas Forster of Calibre reports

B2GOLD INCREASES OWNERSHIP IN CALIBRE MINING TO 15.2% BY EXERCISING WARRANTS

B2Gold Corp. has increased its equity ownership in Calibre Mining Corp. to approximately 15.2 per cent by exercising common share purchase warrants for proceeds to Calibre of $500,000. The warrants entitled B2Gold to purchase 10 million Calibre common shares at a price of five cents per share (see Calibre news release dated April 29, 2014). The proceeds of the warrant exercise will be used to advance Calibre's 100-per-cent-owned Montes de Oro gold project, Nicaragua, as well as for general working capital. At the Montes de Oro gold project, trenching has intersected significant widths of gold mineralization, including 52.3 metres grading 7.1 grams per tonne Au (MTR13-009) and 27.5 metres grading 4.94 g/t Au (MTR13-017), located within a 400-metre-by-650-metre gold-in-soil anomaly (see Calibre news release dated Sept. 19, 2013).

Douglas Forster, chairman of Calibre, stated: "We are very pleased to have Nicaragua's largest gold producer, B2Gold, increase its equity ownership in Calibre to 15.2 per cent. The additional funds will allow Calibre to advance our 100-per-cent-owned Montes de Oro gold project, while our joint venture partner B2Gold continues the trenching program at the Minnesota gold project, and our option partner Iamgold Corp. continues the 3,400-metre diamond drilling program at the Eastern Borosi gold project."

The technical content in this news release was read and approved by Gregory Smith, PGeo, president and chief executive officer of the company, who is the qualified person as defined by National Instrument 43-101.