Mr. Greg Smith of Calibre reports

CALIBRE MINING AND B2GOLD SIGN DEFINITIVE JOINT VENTURE AGREEMENT

Calibre Mining Corp. has signed a definitive joint venture agreement with B2Gold Corp., granting B2Gold an option to acquire a further 19-per-cent interest in and to the Primavera gold-copper porphyry project containing a total of 322 square kilometres of mineral concessions in northeast Nicaragua. Calibre currently controls a 49-per-cent interest in the project, while B2Gold controls a 51-per-cent interest and is project operator. In addition to this joint venture with B2Gold, Calibre controls a 100-per-cent interest in 463 square kilometres of mineral concessions in the mining triangle of northeast Nicaragua, which includes the recent high-grade gold discovery at the Montes de Oro project.

The joint venture agreement dated Sept. 9, 2013, allows B2Gold to earn an additional 19-per-cent interest in and to the project for a total interest of 70 per cent by spending $6-million in additional project expenditures over 36 months (three years). The joint venture agreement supersedes and replaces the original option agreement between Calibre and B2Gold (entered into in June, 2009, and amended in July, 2010, and October, 2010), which has now been terminated.

Greg Smith, president and chief executive officer of Calibre, stated: "The signing of the joint venture agreement with B2Gold is an important step forward for the Primavera gold-copper porphyry project. As previously announced, B2Gold has initiated a $2-million program on the Primavera project to expand the existing high-grade gold-copper mineralized zone, and to locate additional gold and copper discoveries within the 322-square-kilometre Borosi mineral concessions. We are very pleased to have B2Gold as Calibre's partner in the Primavera gold-copper discovery and look forward to significantly advancing the project under the JV agreement."

Significant terms of the joint venture agreement are as follows:

Calibre recently announced trench results, including 7.1 grams per tonne gold over 52.3 metres, from the new high-grade gold discovery at Calibre's 100-per-cent-owned Montes de Oro project (see news release dated Aug. 15, 2013). Further sampling, consisting of additional trenching, extensions to open-ended trenches and an expanded soil grid, has been completed, and results are expected over the next few weeks.