Mr. Greg Smith of Calibre reports

CALIBRE AND B2GOLD INITIATE TRENCHING PROGRAM ON THE MINNESOTA GOLD-COPPER PROJECT, BOROSI CONCESSIONS, NICARAGUA

Calibre Mining Corp. has provided results from follow-up rock and soil sampling at the Minnesota gold-copper project within the B2Gold Corp. joint venture on the Borosi concessions, northeast Nicaragua. Calibre controls a 49-per-cent interest in the joint venture and B2Gold has a 51-per-cent interest and is project operator. As announced on Oct. 9, 2013, Calibre has executed a definitive joint venture agreement with B2Gold that grants B2Gold the right to earn an additional 19 per cent in the Borosi concessions joint venture by spending $6-million in additional project expenditures over three years. Each 12 months of the option B2Gold must complete a minimum $1.5-million of exploration and development expenditures on the property.

At least four new trenches totalling 400 linear metres will be excavated at prioritized locations along the Minnesota gold trend. The primary goal of the trenching program will be to expand on the mineralization observed at channel sample locations MNTR13-001 (7.5 metres grading 3.93 grams per tonne Au) and MNTR13-002 (9.2 metres grading 4.17 g/t Au) located in the centre of the eastern 500-metre by 250-metre gold-and-copper soil anomaly. In addition to the trenching program the existing soil grid will be expanded to the east to follow up on the highly anomalous soil samples collected in the recent test pits (PR13S2221 -- 2.40 g/t Au).

Recent Minnesota project rock and soil assay results include those in the table.

Prospect                     Sample ID        Sample type           Au (g/t)

Minnesota                     P13R0755               Rock              28.90
Minnesota                     P13R0653               Rock               3.69
Minnesota                     P13R0828               Rock               3.08
Minnesota                     P13R0744               Rock               2.98
Minnesota                     P13R0664               Rock               2.24
Minnesota                     P13R0858               Rock               1.35
Minnesota                    PR13S2221               Soil               2.40
Minnesota                    PR13S2199               Soil               1.79
Minnesota                    PR13S2210               Soil               0.90
Minnesota                    PR13S2217               Soil               0.59
Minnesota                    PR13S2324               Soil               0.34
                                                                            
* Soil samples collected at a range of depth in two m by two m by two m 
  exploration test pits                                                                   

Greg Smith, president and chief executive officer of Calibre, stated: "The recent high-grade rock and soil sample results from Minnesota continue to emphasize the strong nature of gold mineralization on the property. Step-out sampling and geologic mapping has identified multiple targets along the two-kilometre gold trend which will be investigated by trenching. Given the encouraging results from the previous channel sampling program and the widespread nature of gold mineralization on the Minnesota project we look forward to the current trenching program expanding the potential of this gold-copper system."

Previous channel sampling assay results along the Minnesota trend include: 9.20 metres grading 4.17 g/t Au (MNTR13-002), 7.50 metres grading 3.93 g/t Au (MNTR13-001), 6.40 metres grading 5.56 g/t Au (BRTR11-044), 8.00 metres grading 6.35 g/t Au (BRTR11-047), 12.80 metres grading 1.27 g/t Au (BRTR11-057), 6.00 metres grading 2.12 g/t Au (BRTR11-054) and 4.65 metres grading 1.51 g/t Au (BRTR11-053).

The Minnesota target area consists of a favourable multiphase intrusive centre with peripheral epithermal vein sets and widespread alteration. The target is defined by a strong 1.75-kilometre by 1.25-kilometre gold-and-copper soil anomaly and has considerable gold endowment as indicted by the abundant small-scale artisanal gold miners that are active in the Minnesota region.

The Minnesota gold-copper project is located 20 kilometres northwest of the Primavera gold-copper project where a B2Gold/Calibre drill program intersected significant porphyry-style gold-copper mineralization including: 261.70 metres grading 0.78 g/t Au and 0.30 per cent Cu (PR-11-002), and 172.35 metres grading 0.48 g/t Au and 0.24 per cent Cu (PR-12-008). The Minnesota area was selected as a high-priority target during regional evaluation of the entire Borosi joint venture area.

Updated maps detailing the result of the current exploration program at the Minnesota gold/copper project will be posted on the company's website.

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock and soil 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-MS multielement analyses. 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 NI 43-101.