August 26, 2013 08:00 ET

Fission Uranium Makes Proposal to Alpha to Acquire Alpha Shares for $7.26 per Alpha Share

KELOWNA, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2013) - FISSION URANIUM CORP. ("Fission" or the "Company") (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) believes that shareholders of Alpha Minerals Inc. ("Alpha") should be made aware that, on August 23, 2013, Fission made the following proposal (the "Proposal") to acquire all of the issued and outstanding common shares of Alpha (the "Alpha Shares") by way of share transaction to Alpha's Board of Directors (the "Transaction"):

• an Alpha shareholder would receive, in exchange for each of their Alpha Shares, 5.3 common shares of Fission ("Fission Shares"), representing a price of $7.26 per Alpha Share based on Fission's closing price on the TSX Venture Exchange on August 23, 2013; and
  
• Alpha would have the opportunity to appoint two members to the Board of Directors of Fission.
  

In making the Proposal, the Board of Directors of Fission and financial advisors took into consideration, a number of factors, including without limitation and in no particular order, the following:

• exchanging Alpha Shares for Fission Shares would consolidate 100% of the Patterson Lake South project ("PLS") into one unified company and send a strong message to the market that the future for the PLS discovery is very promising;
  
• the current 50:50 ownership is sub-optimal from both a development and value maximizing perspective. Future development of the consolidated PLS will streamline decision-making and allow for execution in an efficient manner;
  
• some investors have pointed out that the current structure represents a built in 'poison pill' on PLS; however, we believe it has outlived its usefulness and, given the strength of the results, actually leaves both parties exposed to not trading with the proper premium, given that neither company has control of PLS. Further while we believe Fission is the only logical buyer for Alpha, the combined company could represent an attractive take-over target for a buyer seeking to acquire 100% control of the PLS project;
  
• Alpha Shares have been trading at a discount to Fission Shares; as much as 13% over the previous five trading days on TSX Venture Exchange;
  
• the larger public float of a combined company will benefit both sets of shareholders, in particular by increasing liquidity for the shareholders of Alpha. The trading volume of Fission has been consistently and significantly greater than the dollar volume of Alpha;
  
• cost savings can be realized through the consolidation of Fission and Alpha; and
  
• several stakeholders, including some of Fission's and Alpha's largest shareholders, have independently expressed support for a consolidation of PLS within Fission.
  

Our Proposal expired at 5:00 p.m. (Toronto time) on August 25, 2013 and to this point Alpha has not engaged with us in meaningful discussions. Fission wants Alpha's shareholders to be aware that the Proposal was made. If Alpha continues to refuse to engage with Fission on the Proposal, Fission will consider making a formal offer directly to Alpha's shareholders. Further details concerning any such offer will be made available at the time such an offer is made. Any offer, including the Proposal, will be subject to typical conditions being met including without limitation the receipt of all necessary regulatory, shareholder and court approvals.

This news release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any securities of Fission or Alpha. Such an offer may only be made pursuant to an offer and takeover bid circular filed with the securities regulatory authorities in Canada and any securities issued in such transaction will be registered under the United States Securities Act of 1933, as amended, or issued pursuant to an exemption therefrom. Investors and shareholders of Alpha are urged to read any such documents filed with the United States Securities and Exchange Commission, or the securities regulatory authorities in Canada, carefully and in their entirety if and when they become available. Such documents would be available free of charge through the website maintained by the Canadian securities regulatory authorities at www.sedar.com and by the SEC at www.sec.gov or by calling the SEC at telephone number 800-SEC-0330.

Dundee Capital Markets Inc. is acting as financial advisor to Fission in connection with the proposed takeover offer and Blake, Cassels & Graydon LLP is acting as Fission's legal counsel.

About Patterson Lake South

The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission and Alpha. Fission is the Operator. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

Drilling has discovered significant high-grade and shallow uranium mineralization in 4 on-strike zones along a 1.05km trend. A $6.95 million, 44 hole, 11,000m drill program and ground geophysics surveys is in progress at PLS.

About Fission Uranium Corp.

Fission Uranium Corp. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF".

ON BEHALF OF THE BOARD

Dev Randhawa, Chairman & CEO

August 22, 2013 06:30 ET

Alpha Minerals JV Hits 47m Mineralization Including 5.27m Total Composite "Off-Scale" to Expand R390e Zone at Patterson Lake South, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 2013) - Alpha Minerals Inc. (TSX VENTURE: AMW)(FRANKFURT:E2GA) (the "Company" or "Alpha"), and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce results for an additional five holes drilled on the R390E Zone. Since the winter 2013 drill program the R390E zone has doubled in strike length to 120m. The reported drill holes in this news release are highlighted by PLS13-086, which intersected a 47.0m wide mineralized zone, including a total of 5.27m composite "off-scale", it appears more robust than hole PLS13-061 drilled 10m to the north on line 360E and is further evidence of the high-grade potential of the zone.

Several holes are reported in this news release that have no Devonian Sandstone intersections. This makes the R390E Zone a potential candidate area for one of the bedrock sources of the large uranium boulder field. Of additional note is hole PLS13-083, a 15m step out hole to the west of hole PLS13-075, which reported 61.5m total composite mineralization in several intervals over a width of 105.5m (53.0m to 158.5m).

Holes PLS13-078, PLS13-081, PLS13-083, PLS13-085 and PLS13-086 tested lines 435E, 405E, 315E, 330E and 360E of the R390E zone respectively and all intersected relatively wide zones of mineralization of varying degrees of radioactivity.

Drilling Highlights include:

• Extend strike length of R390E zone to 120m
  
• PLS13-086 (line 350E) intersected 47m of mineralization (75.0m - 122.0m), including:
  
  • 5.27m total composite off-scale (>9999 cps), including: 
  • 3.0m of continuous off-scale (>9999 cps) (101.0m - 104.0m)
    
• PLS13-083 (line 315E) intersected 61.5m total composite of variably radioactive mineralization over a 105.5m wide interval (53.0m - 158.5m). Clay alteration from 53 m to 192. Includes some poor core recovery where the hand held scintillometer results are moderate and the down hole gamma probe results show strongly anomalous values over a 1.0 m interval from 80.0m - 81.0m within an interval from 80.0m - 83.0m where core recovery was estimated at 48.7%.
  
• PLS13-078 (line 435E) intersected 42.0m total composite of variably radioactive mineralization over a 60.5m wide interval (75.0m to 135.5m)
  
  • Upper Zone: 31.5m mineralization (85.0m - 166.5m), including: 
  • 1.25m total composite off-scale (>9999 cps) (97.0m - 98.0m) 
  • Lower Zone: 10.0m mineralization (125.5m - 135.5m)
    
• PLS13-085 (line 330E) intersected 36.0m total composite of variably radioactive mineralization in several intervals over a 55.5m wide interval (58.5m - 114.0m), including:
  
  • 22.5m of variably radioactive mineralization (82.0m - 104.5m), including: 
  • 2.16m total composite off-scale (>9999 cps) (85.5m to 87.81m)
    
• PLS13-081 (line 405E) intersected 25.5m of variably radioactive mineralization (105.0m - 130.5m)
  

Read more...

August 20, 2013 11:53 ET

Canada Carbon Inc.: Flotation of Miller Graphite Sample Prior to Purification Achieves Better Than 99% Graphitic Carbon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2013) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) is pleased to announce the following results from additional milling and flotation test work conducted at SGS Canada Inc. (Lakefield) on its 100% owned Miller hydrothermal lump/vein graphite property. The objective of this test work was to determine the effects of repeated grind and flotation in order to achieve a higher Graphitic Carbon ("Cg") grade in the concentrate prior to purification. The modified protocol yielded a +48 mesh flotation concentrate of 99.1% Cg and 100% Total Carbon ("Ct").

R. Bruce Duncan, CEO & Director of Canada Carbon stated, "We have demonstrated that Miller graphite is very amenable to purification by producing a pre-leach concentrate of very high quality. This should certainly have a positive impact on the economics of a purification circuit. We now look forward to confirming a significant size deposit via the recently completed airborne geophysics and the current drilling being carried out."

Further to the flotation results and scheduled test work that were reported on July 18^th and 23^rd, 2013; results from a modified protocol have been reported by SGS Canada Inc. (Lakefield). The process subjected a -6 mesh sample to various grinding times and media, each one followed by three to four stages of cleaner flotation. The final cleaner concentrate represented 70.0% of the original feed and contained 93.2% Ct, which is a substantial improvement from the previous test at 84.1% Ct. The concentrate grade of the +200 mesh size fractions was exceptionally high at 98.1% Ct and increased further to 98.7% Ct in the +100 mesh size fractions. Further, the carbon recovery into the final flotation concentrate was increased from 73.4% to 97.2%. A particle size distribution was conducted on this final cleaner concentrate and sieve fractions assayed for Ct and Cg. Results are tabulated below:

Cleaner Concentrate		Weight		Assay, %
Size Fraction		%		Ct		Cg
+48 mesh		11.0		100		99.1
+65 mesh		10.1		99.1		99.0
+80 mesh		6.3		97.6		99.1
+100 mesh		7.5		96.8		97.2
+150 mesh		13.7		97.4		93.4
+200 mesh		12.7		97.2		96.7
-200 mesh		38.8		84.4		84.1

All carbon analyses were performed by SGS Canada Inc. (Lakefield) and are reported as total carbon (Ct) by LECO or graphitic carbon (Cg) employing a roast to burn off any organic carbon, followed by a leach to remove any carbonates and LECO assay of the leach residue.

Rémi Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified Person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.

About Miller Graphite Mine

The Miller Graphite Mine, located in Grenville Township in Quebec is a past graphite and mica producer with unknown graphite reserves remaining. This mine was worked around 1845 and was probably the first graphite operation in Canada. The quantity of produced graphite is unknown but it is reported that 25 rail cars of lump graphite were shipped from this deposit in the year 1900 and sent to the Globe Refining Company of Jersey City, N.J. This yielded thirty-two tons of clean crucible graphite. The Morgan Crucible Company of London and also J.H. Gauthier and Company, Jersey City, used some of this graphite in their crucibles and pronounced it equal to the best graphite known to come from Ceylon (now Sri Lanka). The property covers 15.3 km² of land and is located 80 km west of Montreal. A main road, located approximately 800 metres from the deposit, is connected by a gravel road to the deposit allowing very easy access. A power line also crosses the property 500 metres south of the deposit. There is no certainty that further exploration will result in the development of similar deposits.

On Behalf of the Board of Directors

CANADA CARBON INC.

R. Bruce Duncan, Interim CEO and Director

August 19, 2013 09:35 ET

Sirona Biochem Signs LOI With China's #1 Ranked Anti-Diabetic Company, Wanbang Pharma

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 19, 2013) - Sirona Biochem Corp. (TSX VENTURE:SBM) (OTCQX:SRBCF) (FRANKFURT:ZSB) announced today the signing of a Letter of Intent whereby Sirona Biochem will provide an exclusive license to Wanbang Pharma to develop and commercialize Sirona's SGLT2 Inhibitor in the People's Republic of China (PRC). In exchange for this license, Sirona Biochem will receive upfront and milestone payments of up to US$9.5M upon successful achievement of development and regulatory milestones and then royalty payments for product sales in the PRC.

Under the terms of the LOI, Wanbang Pharma will assume responsibility for funding and leading all clinical studies required for Chinese Food and Drug Administration approval. Sirona Biochem will be provided all clinical study results to support new regulatory applications outside of PRC.

"We are excited by the opportunity to work with Wan bang Pharma, the leading anti-diabetic company supplying the largest diabetic population in the world," said Neil Belenkie, Chief Executive Officer of Sirona Biochem. "With more than 90 million people suffering from diabetes in China and the market growing more than 20% per year, we believe that Wanbang Pharma is uniquely positioned to provide maximum potential to commercialize our SGLT2 Inhibitor in the Chinese marketplace".

About Wanbang Pharma

Wanbang Biopharmaceuticals is a leading pharmaceutical company in China that specializes in research, production and marketing of medicines for diabetes, cardiovascular disease and endocrinology. Among domestic pharmaceutical companies, Wanbang Pharma is the largest manufacturer and marketer of a comprehensive portfolio of drugs for diabetes.

Wanbang Pharma is a subsidiary of Fosun Pharmaceutical Group which is listed on the Shanghai stock exchange (SHA:600196). Fosun Pharma, a major shareholder of Sino Pharma (HKG:1099), the largest drug distributor in China, is part of the Fosun Group, the largest non-state owned enterprise group in China which is listed on the Hong Kong stock exchange (HKG:0656).

About Sirona Biochem

Sirona Biochem is a biotechnology company developing diabetes therapeutics, skin depigmenting and anti-aging agents for cosmetic use, biological ingredients and cancer vaccine antigens. The company utilizes a proprietary chemistry technique to improve pharmaceutical properties of carbohydrate-based molecules. Sirona Biochem is the parent company of French-based biotechnology company, TFChem. For more information visit www.sironabiochem.com.

August 19, 2013 08:00 ET

Energizer Resources' Metallurgical Enhancements Yield Superior Graphite Flake Recovery with Significant Increase in Large and Jumbo Flake Sizes

TORONTO, ONTARIO--(Marketwired - Aug. 19, 2013) - Energizer Resources Inc. (OTCBB:ENZR)(FRANKFURT:YE5)(TSX:EGZ) ("Energizer" or the "Company") is pleased to announce further positive results from ongoing metallurgical optimization tests from the Company's flagship Molo flake graphite deposit ("the Molo") in Madagascar.

In addition to having achieved an ultra-high purity of greater than 99.9% graphitic carbon on a first-pass purification test, latest results from the Phase 1 Molo process optimization testing at SGS Canada Inc. ("SGS") has yielded superior results as compared to the graphite flake size distributions previously reported in the Company's Preliminary Economic Assessment (PEA) Study released in February 2013.

These positive results from the ongoing metallurgical optimization tests will further improve the economics of the Molo graphite project, since larger graphite flake sizes command premium selling prices.

The highlights of the open circuit cleaner test results using an optimized cleaning circuit are as follows:

• 47.6% of the concentrate mass is large and jumbo flake graphite (greater than +80 mesh) at a grade of 96.8% C(t);
• 21.7% of the concentrate mass is jumbo flake graphite (greater than +48 mesh) at a grade of 97.4% C(t);
• 23.5% of the concentrate is medium flake graphite (-80 to +150 mesh) at a grade of 95.6%;
• 28.9% of the concentrate is small flake (-150 mesh) at a grade of 95.7% C(t);
• Overall, there was a 44% increase in graphite flakes larger than +100 mesh as compared to the PEA study, and the grade improved to 96.3% C(t) from 94.9% C(t);
• Exceptional increase in the small flake (-200 mesh) size fraction concentrate grade from 82.1% C(t) to 96.0 % C(t);
• The combined concentrate obtained in the test graded 96.2% C(t).

Processing Considerably Simplified

The significant gain in the flake-size distribution and concentrate grades of the Molo graphite deposit was achieved as a result of the SGS test protocol utilizing an optimized circuit that employed only a simple grind and gentle polishing between flotation stages. This process resulted in significantly minimizing graphite flake breakage and is considerably simplified as compared to the process on which the Company's PEA Study was based.

This open circuit cleaner test will be immediately followed up with a locked cycle flotation test, which simulates the continuous operation of a circuit under laboratory scale conditions.

Substantive Reductions Expected in CAPEX and OPEX

Craig Scherba, President and COO, stated, "These results are very significant because premium prices for graphite are achieved with the highest purity and flake sizes, and Energizer has just achieved marked increases in both. Based on these excellent results, Energizer anticipates that there will be a significant enhancement to the already positive economics of the project presented in our PEA Study."

Molo Well Positioned for Key Demand Markets

The Molo Graphite property is situated in an extremely rare and unique geological setting that has resulted in the flake graphite being very high in both purity and quality. The ability for Energizer to produce a natural flake graphite product with the highest purities possible, with markedly enhanced graphite flake sizes and using low-cost, standard processing techniques will allow Energizer to target all markets utilizing value-added graphite applications.

According to industry experts, flake graphite is the most desired form of natural graphite because only natural flake graphite has all the necessary attributes and material properties that allow it to be used across all end-use applications where natural graphite can be used. The general rule is: the larger the flake size and the higher the purity, the higher the selling price.

The three largest demand markets for high-purity natural flake graphite today, and going forward, are:

• Refractories; acts as a protective insulator from high temperature and corrosive environments
• Battery and energy storage; a critical component in alkaline, lithium-ion batteries, fuel cells and vanadium redox flow batteries
• Specialty graphite foils; essential as a heat sink and sealant in all portable electronics, smartphones, flat panel televisions and computer monitors

Natural flake graphite is the choice for many refractory applications owing to its particle shape and size. Neither synthetic nor amorphous graphite can be used to produce graphite foils, which are a main component in fuel cells, smart phones, consumer electronics, solar panels, laptops, all flat panel televisions and computer monitors. Flake graphite is the only form of natural graphite that competes directly with synthetic graphite in producing battery anode material.

About SGS Metallurgical Services (Lakefield)

SGS Canada Inc. ("SGS") is recognized as a world leader in the development of process flow sheets and pilot plant testing programs. SGS' Metallurgical Services division was founded over half a century ago. Its metallurgists, hydro-metallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in resource properties around the world.

Qualified Person

The technical information presented in this press release has been reviewed by Oliver Peters, M.Sc., MBA, P.Eng. (Ontario), Principal Metallurgist and President of Metpro Management Inc. and a Qualified Person under NI 43-101.

About Energizer Resources

Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada, which is focused on developing its flagship Molo flaked graphite deposit located near Fotadrevo in the southern region of Madagascar. The Molo graphite property is held 100% within the joint venture (JV) entity with Malagasy Minerals Limited. Energizer has a 75% ownership interest and is the operator of the Project.

Administration

The Company has closed a non-brokered private placement. The company raised CAD$837,500 and USD$1,230,000 by issuing 16,950,001 of the Company's Common Shares. The proceeds of this offering will be used to fund the completion of the full-scale pilot plant, which is a component of a Full Feasibility Study. In connection with the closing, Energizer paid compensation consisting of cash fees of CAD$57,750 and USD$21,600 and issued 582,000 compensating options.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. All securities issued in connection with the Offering will also be subject to a four-month hold period from the date of issuance as required by Canadian authorities and a six month hold period as required by U.S. authorities. Completion of the Offering remains subject to final approval of the applicable regulatory authorities, including the Toronto Stock Exchange.

The Company has applied to the Toronto Stock Exchange to extend the term and revise the price of a total of 2,903,571 common share purchase warrants. These common share purchase warrants originally had an exercise price of USD$0.50 and an expiry date between November 6 and 15, 2014. The Company has applied to change the exercise price to USD$0.23 and extend the term by one year so that all of the common share purchase warrants expire on November 15, 2015. No insiders of the Company hold any of these common share purchase warrants. Finalization of this change is subject to the approval of the Toronto Stock Exchange and if approved, the amendment will be effective 10 business days from the date of this press release.

For more information, please visit our website at www.energizerresources.com.

Calibre Expands Trench Intercept at the 100% Owned Montes de Oro Target to 52.3 Metres Grading 7.1 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 15, 2013) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to provide an update on activities at the 100% owned Montes de Oro target within the Siuna District, Borosi Concessions, northeast Nicaragua.

Highlights

• Results from extensions of Trench MTR13-009 have expanded the high grade mineralized intercept to 52.3 m grading 7.1 g/t Au.

• Additional high grade trench results returned from recent work include; 23.0 m grading 5.25 g/t Au (MTR13-017) including 9.0 m grading 10.15 g/t Au, 16.2 m grading 4.68 g/t Au (MTR13-019) including 6.0 m grading 10.14 g/t Au.

• At Montes de Oro, trenching has partially tested a strong coincident gold-silver-copper-lead-zinc soil anomaly extending over a 400 metre by 650 metre area which remains open to the northeast.

President and CEO, Greg Smith stated, "Calibre continues to advance the Montes de Oro target, intersecting high grade gold mineralization over expanding widths. This high priority target continues to return consistently high grade gold intercepts with recent work now showing apparent widths of several tens of metres. On-going work is advancing the understanding of the mineralization."

Recent trench results include;

Trench ID		From (m)	To (m)	Interval (m)	Au (g/t)	Cu (%)	Zn (%)
MTR13-008		4.0	9.5	5.5	3.65	0.03	0.15
MTR13-009		0.0	52.3	52.3	7.07	0.06	1.23
	incl	10.7	52.3	41.6	8.46	0.07	1.47
	incl	10.7	36.9	26.2	12.54	0.10	2.32
MTR13-017		0.0	23.0	23.0	5.25	0.05	0.38
	incl	14.0	23.0	9.0	10.15	0.06	0.29
MTR13-018		20.0	29.0	9.0	3.11	0.02	0.41
MTR13-019		4.8	21.0	16.2	4.68	0.05	0.22
	incl	9.0	15.0	6.0	10.14	0.05	0.20
MTR13-020		29.5	38.0	8.5	1.66	0.03	0.23
MTR13-022		0.0	6.0	6.0	4.73	0.03	0.07
MTR13-024		6.3	10.0	3.7	3.86	0.05	0.06
MTR13-025		1.5	5.0	3.5	5.51	0.11	0.32

- Weighted averages calculated using uncut assays.

- Trench intercepts are sample lengths and further work is required to determine true widths.

- For previous Montes de Oro trench results see Calibre news releases dated June 3 and July 26, 2013.

Based on the latest assays results at least two high grade sub-parallel mineralized trends are present at Montes de Oro (MTR13-009 trend and MTR13-017 trend). The zones have an inferred northeast orientation and appear to dip shallowly to the northwest. The MTR13-009 trend may continue as far as MTR13-018 a distance of approximately 200 metres.

Six new trenches and three trench extensions were completed at Montes de Oro during July 2013 for a total of 208.4 metres. The MTR13-017 tunnel extension returned a composite of 23.0 m grading 5.25 g/t Au and remains open to the northwest. The gold mineralization in MTR13-017 is distributed throughout the tunnel, primarily associated with a strongly oxidized horizon which dips between 20-40 degrees to the northwest roughly concordant with bedding. The mineralized oxide zone present in MTR13R-024 is very similar to the zone present in MTR13-017 and may be an "up dip" extension of the horizon located along strike to the west-southwest. MTR13-024 returned 3.70 m grading 3.86 g/t Au.

Other significant results are from trenches MTR13-022 with 6.0 m grading 4.73 g/t Au and MTR13-025 with 3.5 m grading 5.51 g/t Au, 0.11% Cu and 0.32% Zn. Both MTR13-022 and MTR13-025 contained lenses of massive sulphide with mineralization similar to MTR13-009. The mineralization present in trenches MTR13R-007, MTR13-018 and MTR13R-020 is similar in style and is primarily hosted within a strongly oxidized, argillic altered and fractured equigranular diorite unit. No obvious quartz veining has been observed but the rock is strongly fractured and contains rafts of sulphide bearing sediments. A northeast oriented zone of higher grade mineralization can be traced over a length of 50 m between trenches MTR13-020 and MTR13-018. Lower grade disseminated style mineralization also exists with long intervals including 39.40 m grading 0.96 g/t Au in MTR13-018 and 50 m grading 0.53 g/t Au in MTR13-020.

In addition to the regional host volcano-sedimentary package at least two phases of intrusive rocks have been mapped on the property; the principal hornblende bearing equigranular diorite and a coarse hornblende diorite unit.

The existing soil anomaly at Montes de Oro is a strong coincident gold-silver-copper-lead-zinc anomaly which extends over a 400 metre by 650 metre area and remains open to the northeast. Two additional soil lines were added to the Montes de Oro soil grid to test the northeast extension and a total of 22 samples were collected. The results are pending.

Work continues at Montes de Oro, targeted at further defining the high grade gold mineralization and testing the extensions of existing trenches and additional anomalous areas. Updated maps detailing the result of the current exploration programs will be posted on the Company's web site atwww.calibremining.com.

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock sample strings. Samples are placed in sealed bags and shipped directly to Acme Labs in Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver, Canada for gold fire assay and ICP 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 429 km² of mineral concessions and additionally, Calibre has joint venture exploration programs underway with B2Gold Corp. on 322.3 km ² 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

Neither the 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.

Trench ID	From (m)	To (m)	Interval (m)	Au (g/t)	Cu (%)	Zn (%)
MTR13-001	0.00	1.50	1.50	0.21	0.033	0.127
	8.00	15.50	7.50	0.12	0.084	0.102
MTR13-002	No significant values
MTR13-003	0.00	0.70	0.70	0.12	0.035	0.011
	14.50	16.00	1.50	0.10	0.060	0.021
	22.00	26.50	4.50	0.11	0.045	0.034
MTR13-004	0.00	16.00	16.00	0.19	0.023	0.046
	4.00	5.50	1.50	0.30	0.022	0.041
	10.00	14.50	4.50	0.32	0.025	0.062
MTR13-005	0.00	4.00	4.00	1.25	0.023	0.022
	3.00	4.00	1.00	1.64	0.016	0.017
MTR13-006	0.00	1.50	1.50	0.13	0.021	0.026
	3.00	4.50	1.50	0.18	0.026	0.026
MTR13-007	0.00	11.00	11.00	0.76	0.067	0.401
	6.50	11.00	4.50	1.32	0.035	0.315
	24.80	37.50	12.70	0.41	0.020	0.372
MTR13-008	0.00	15.80	15.80	1.48	0.024	0.252
	4.00	9.50	5.50	3.65	0.026	0.153
	6.00	9.50	3.50	5.11	0.028	0.170
MTR13-009	0.00	52.30	52.30	7.07	0.061	1.229
	10.70	52.30	41.60	8.46	0.072	1.470
	10.70	36.90	26.20	12.54	0.097	2.320
	10.70	27.70	17.00	17.95	0.124	2.750
	12.70	20.70	8.00	24.58	0.118	0.052
MTR13-010	No significant values
MTR13-011	No significant values
MTR13-012	No significant values
MTR13-013	0.00	4.50	4.50	0.20	0.071	0.049
	1.50	3.00	1.50	0.32	0.092	0.035
	6.00	7.50	1.50	0.13	0.004	0.003
MTR13-014	7.40	9.50	2.10	0.35	0.014	0.202
	8.50	9.50	1.00	0.61	0.021	0.260
	15.00	22.30	7.30	0.38	0.003	0.054
	17.80	19.30	1.50	0.72	0.004	0.074
MTR13-015	0.00	6.00	6.00	0.33	0.034	0.037
	5.00	6.00	1.00	1.13	0.025	0.061
MTR13-016	No significant values
MTR13-017	0.00	23.00	23.00	5.25	0.053	0.382
	0.00	11.00	11.00	2.53	0.047	0.337
	7.50	11.00	3.50	4.29	0.069	0.473
	14.00	23.00	9.00	10.15	0.059	0.294
	20.70	23.00	2.30	26.60	0.032	0.158
MTR13-018	0.00	39.40	39.40	0.96	0.010	0.167
	20.00	29.00	9.00	3.11	0.018	0.411
	26.00	29.00	3.00	5.64	0.019	0.314
MTR13-019	2.50	22.00	19.50	3.91	0.048	0.224
	4.80	21.00	16.20	4.68	0.050	0.221
	9.00	15.00	6.00	10.14	0.049	0.198
MTR13-020	0.00	50.00	50.00	0.53	0.025	0.190
	11.50	38.00	26.50	0.76	0.030	0.233
	29.50	38.00	8.50	1.66	0.034	0.232
	29.50	30.50	1.00	4.53	0.034	0.232
MTR13-021	No significant values
MTR13-022	0.00	6.00	6.00	4.73	0.026	0.070
	3.00	6.00	3.00	6.20	0.032	0.045
MTR13-023	0.00	6.00	6.00	0.20	0.032	0.610
	0.00	2.00	2.00	0.32	0.039	0.399
MTR13-024	6.30	10.00	3.70	3.86	0.055	0.057
	5.00	12.00	7.00	2.20	0.039	0.042
MTR13-025	1.50	10.50	9.00	2.97	0.079	0.228
	1.50	5.00	3.50	5.51	0.111	0.322

Contact:

Calibre Mining Corp.
Ryan King
604 628-1012
www.calibremining.com