Calibre Mining Corp. is pleased to announce that B2Gold Corp has increased its equity ownership in Calibre to approximately 15.2% by exercising common share purchase warrants for proceeds to Calibre of CDN $500,000.
The warrants entitled B2Gold to purchase 10,000,000 Calibre common shares at a price of $0.05 per share (see Calibre news release dated April 29, 2014). The proceeds of the warrant exercise will be used to advance Calibre's 100% 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 g/t 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 September 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%. The additional funds will allow Calibre to advance our 100% 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 Corporation continues the 3400 metre diamond drilling program at the Eastern Borosi Gold Project".
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.