Calibre Completes its Acquisition of the Primavera Gold-Copper Porphyry Project and Monte Carmelo Gold Project from B2Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2016) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce that the Company has received regulatory acceptance for, and completed, its recently announced acquisition (the "Transaction") of the interest held by B2Gold Corp. ("B2Gold") (TSX:BTO) in the Borosi concessions (the "Property") located in Nicaragua and comprising the Primavera gold-copper porphyry project and the Monte Carmelo gold project (together, the "Projects"). 

The Transaction

On December 08, 2016, B2Gold completed the transfer of its 51% interest in the Property to Calibre in consideration for the issuance of 23,450,000 common shares in the capital of Calibre (the "Consideration Shares") to B2Gold at a deemed price of $0.14/common share and the grant of a 1.5% net smelter returns royalty on production from the Property to B2Gold. Upon closing of the Transaction, following the issuance of the Consideration Shares, B2Gold increased its ownership position in Calibre to 18.5%. 

For further details of the Transaction please refer to the joint press release issued by Calibre and B2Gold on November 3, 2016 and available on the Company's SEDAR profile. 

About Calibre Mining Corp.

Calibre owns an interest in over 413 kilometres² of mineral concessions in the Mining Triangle of Northeast Nicaragua including the Primavera Project and Monte Carmelo Project. Additionally the Company has optioned to IAMGOLD (176 km²) and Centerra Gold (253 km²) concessions covering an aggregate area of 429 kilometres² and is party to a joint venture on the 33.6 kilometres² Rosita D gold-copper-silver project with Rosita Mining Corporation. Major shareholders of Calibre include gold producer B2Gold Corp, Pierre Lassonde and Management.

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.