Calibre Drilling intersects 19.2 metres grading 223.4 g/t Silver and 9.44 Metres Grading 488.6 g/t Silver on the Blag Gold-Silver Vein System, Eastern Borosi Project, Nicaragua

• Diamond drilling of the Blag Gold-Silver Vein System has further extended the defined mineralization on three targets including; Main Blag Structure, the East Dome, and the Santos Trend
• Drilling on the Main Blag Structure has intersected 5.37 metres grading 2.99 g/t gold and 31.6 g/t silver
• Drilling on the East Dome has intersected 19.16 metres grading 223.4 g/t silver and 1.11 g/t gold as well as 9.44 metres grading 488.6 g/t silver and 0.69 g/t gold
• Each of the first four holes on the Santos Trend intersected gold mineralization including; 4.68 metres grading 7.84 g/t gold and 5.65 metres grading 2.18 g/t gold
• Drilling in 2015 has totalled 41 diamond drill holes for a total of 5,917.05 metres

President and CEO, Greg Smith stated: “These latest results have now identified three gold-silver mineralized structures at the Blag Gold-Silver System. The new style of mineralization at the East Dome includes some excellent widths reaching up to 19 metres and some of the highest silver grades intercepted to date. The gold-silver mineralization in each of the three structures is open to depth and along strike. Previous work including LIDAR and detailed soil sampling and trenching has also identified at least 25 additional targets in the Blag area.”

Recent Drill Highlights from Eastern Borosi Gold-Silver Project

The Main Blag Structure was tested by four holes (BL15-013, BL15-014, BL15-015, and BL15-019). Two holes #13 and #19 failed to reach the target structure. Drill Holes #13 and #14 extended the Blag Main Structure to depth. Results include 5.37 metres grading 2.99 g/t gold and 31.6 g/t silver (BL15-015).

The East Dome Structure is located 500 metres to the east of the Main Blag area. Three drill holes (BL15-016, BL15-017, and BL15-018) were completed with each of the three holes intersecting the mineralized structure. The structure has been tested over 100 metres of strike and to a depth of 100 metres. Drilling on the East Dome has intersected 19.16 metres grading 223.4 g/t silver and 1.11 g/t gold (BL15-017) as well as 9.44 metres grading and 488.6 g/t silver and 0.69 g/t gold (BL15-018). Mineralization at the East Dome differs from the Blag main Structure and is characterized by a competent quartz vein breccia unit with no major faulting. The matrix is composed of 60-70%, silica and hematite with sub-angular, grey quartz and minor andesite clasts (30-40%). Nodules of pyrite, galena and chalcopyrite were observed up to 2.0%. The East Dome Structure includes sections of extremely high grade silver including 2.88 metres grading 1,432.0 g/t Ag (BL15-018 between 98.00 and 100.88 metres).

The Santos Trend Structure is located 1000 metres to the west of the Main Blag area. Four drill holes (BL15-020, BL15-021, BL15-022 and BL15-023) were completed with each of the four holes intersecting the mineralized structure consisting of quartz-carbonate vein breccias. Two holes (BL15-020 and BL15-022) also interested secondary sub-parallel structures. The north-northwest trending Santos Trend Structure was been intercepted over a distance of 575 metres and to a vertical depth of 75 metres (BL15-020). The dip of the structure is consistent along trend between 70-78 degrees to the west. Drilling on the Santos Trend has intersected 4.68 metres grading 7.84 g/t gold (BL15-023) and 5.65 metres grading 2.18 g/t gold (BL15-021).

The 2015 program approved by partner IAMGOLD began on February 4^th with an approved budget of $1.5 million. Exploration designed to advance a number of additional surface targets continues on the Project.

Low sulphidation epithermal gold-silver mineralization intersected in the Project gold-silver vein systems are hosted within porphyritic andesite and consists of structurally controlled, high energy quartz-carbonate vein breccias, vein-stockworks and discrete smokey quartz veins containing fine grained sulphide minerals.

Calibre and IAMGOLD entered into an option agreement dated May 26, 2014 whereby IAMGOLD can earn a 51% interest in the Project consisting of 176 km² within the Borosi Concessions, Northeast Nicaragua, by incurring US$5 million in exploration expenditures and making US$450,000 in payments to Calibre by May 26, 2017, the first anniversary US $150,000 payment having been made in May 2015. The total potential investment by IAMGOLD to earn a 70% interest in the Project is US$10.9 million. The Project hosts gold-silver resources in two deposits and a series of well-defined low sulphidation epithermal gold-silver targets.

Calibre is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by independent firm Kluane Drilling Ltd. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Acme Labs (a Bureau Veritas Group Company) in Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver, Canada for 50 gram gold fire assay and ICP-MS multi element analyses.

The technical content in this news release was read and approved by Gregory Smith, P.Geo, President and CEO of the Company who is the Qualified Person as defined by NI 43-101.

About Calibre Mining Corp.

Calibre controls a 100% interest in 253 km² of mineral concessions in the Mining Triangle of Northeast Nicaragua. Additionally the Company has an option agreement with IAMGOLD covering 176 km² of concessions, joint venture exploration programs underway with B2Gold Corp. on 322.3 km² of concessions which includes the Primavera gold-copper porphyry discovery and the Minnesota Gold Zone, and has optioned the 33.6 km² Rosita gold-copper-silver project to Alder Resources Ltd. Major shareholders of Calibre include gold producer B2Gold Corp., Pierre Lassonde and Management.

Calibre Mining Corp.

Greg Smith, P.Geo., President and CEO

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Recent Drill Results from Eastern Borosi Gold-Silver Project