Calibre Mining

1. AD V A N C E D G O L D - C O P P E R - S I L V E R E X P L O R A T I O N - M I N I N G T R I A N G L E , N I C A R A G U A
January 2012
TSX.V: CXB www.calibremining.com

2. Forward Looking Statement
Certain statements in this document constitute “forward looking statements” which may not be based on
historical fact. Such forward looking statements involve known and unknown risk, uncertainties and other
factors which may cause the actual results, performance or achievements of the Company, or industry
results to be materially different from any future results, performance, or achievements expressed or
implied by such forward looking statements. Such factors include, among others, the following: actual results
of exploration and development activities; the costs and timing of the development of new deposits; future
prices of precious and base metals; accidents; risks inherent in mineral exploration; risks associated with
development, construction and mining operations; restrictions on foreign ownership; the Company’s history
of operating losses and uncertainty of future profitability; uncertainty of access to additional capital; and
environmental liability claims and insurance. This presentation is not an offer to purchase securities and
does not constitute an offering document under Securities legislation.
SLIDE 2

3. INVESTMENT HIGHLIGHTS
• Calibre’s Borosi gold-copper-silver project: over 860 km2 property in the prolific Borosi Concession Area
“Mining Triangle” of NE Nicaragua, Central America
Puerto Cabezas (airport/port)
• The Mining Triangle has produced >7.9M ozs gold; one gold mine currently in Bonanza (Gold Mine)
production (Bonanza) produces 45,000 ozs/year Riscos de Oro
La Luz-Siuna Rosita &
• New porphyry gold/copper discovery made at the Primavera project in Primavera
conjunction with B2Gold (Nicaragua’s largest gold producer), where B2Gold is
earning a 51% interest in the Primavera project and certain additional Borosi
concessions by spending $8.0 M on exploration by June, 2014. Once the earn-
in is compete, B2Gold may elect to carry an individual prospect within the
concession area through to a Preliminary Feasibility Study for an additional El Limon (Gold Mine)
.
B2 GOLD CORP.
14% interest in the prospect.
Managua
La Libertad (Gold Mine)
• Primavera discovery drill hole: 261.7 m grading 0.78 g/t Au, 0.30% Cu B2 GOLD CORP.
• Calibre 100%-owned NI 43-101 Compliant Inferred Resource totaling 835,000
ozs Gold and 4.3 million ozs Silver
• 100%-owned Riscos de Oro epithermal gold-silver project: 9,427m delineation
drilling completed to date
• Option with Alder Resources Ltd. on the Rosita copper skarn project
SLIDE 3

4. Experienced Team Share Structure
Douglas B. Forster, M.Sc., P.Geo - Executive Chairman of the Board Issued & Outstanding 166,965,918
• 30+ years of resource project development, M&A, equity finance and Options 17,050,000
public company management;
• Founder and director of numerous public companies; Yamana Warrants 10,000,000 *
• President & CEO of Featherstone Capital Inc.
Fully Diluted 194,015,918
Edward Farrauto, CGA - President & CEO, Director
• 20+ years experience as CFO and director of several public companies; Fully Diluted Cash Position ~$14,750,000
• Founder and director of several public companies;
Paulo Santos, CA - Chief Financial Officer Working Capital ~$2,000,000
• 10+ years experience with public accounting, auditing, and regulatory
compliance Significant Shareholders
Greg Smith, P.Geo - VP Exploration Management and Insiders ~10%
• 23+ years exploration experience with both junior & senior operations; Sun Valley Gold ~8%
• Involved in successfully outlining 10+ million ounces of gold discoveries. Yamana Gold ~7%
Blayne Johnson - Lead Director
• 20+ years of capital markets experience;
* In conjunction with the purchase of the Borosi Concessions
in 2009, Calibre granted 10 million warrants to Yamana
• Former VP of First Marathon Securities; present Chairman of Featherstone Gold (5 million exercisable at $0.50 and 5 million exercisable
Capital Inc. at $1.00). The warrants expire in July 2014 and are only
exercisable if Calibre delineates at least 2.5 million NI 43-101
George Salamis - Director Measured and Indicated compliant ounces of gold equivalent
• 20+ years exploration, development and operations experience; (total of gold and copper resources).
• Current President & CEO of Edgewater Exploration Ltd.
Hon. John Reynolds, P.C. - Director
• 35+ years experience in politics, former Member of Parliament, and a
member of the Queen’s Privy Council for Canada;
• Present Strategic Senior Advisor at McMillan LLP.
SLIDE 4

5. WORKING IN NICARAGUA
• Democratic Republic with
President Ortega elected to a new
5 year term in Nov. 2011
• Gold is Nicaragua’s No. 3 export
• Gold has helped Nicaragua’s
economy grow by 4% annually in
the past year, the highest rate in
Central America
• Annual gold production has more
than doubled in the past 3 years
• Supportive mining laws, including
favourable tax regime
• 25 year exploration and 50 year
exploitation permits
• Economist Intelligence Unit ranks
Nicaragua as one of the safest
countries in Central America
SLIDE 5

6. BOROSI GOLD-SILVER-COPPER CONCESSIONS
2.8 M oz Au
Production to date
305M lbs Cu
Historic Production
Cerro Aeropuerto
NI43-101 Inferred
Resource
707,750 oz Au
3.14 mm oz Ag
La Luna
NI 43-101 Inferred
Resource
127,700 oz Au
1.14 mm oz Ag
2.3 M oz Au
Historic Production
Borosi project is road accessible and close to power, people and infrastructure SLIDE 6

7. PRIMAVERA GOLD/COPPER PROJECT
• Located 8 km south of the town of Rosita
Airborne Radiometric Survey
• Road accessible with national power grid located 1.2 km
from the project
• Joint venture with B2Gold: B2Gold can earn a 51%
interest by spending $8M by June, 2014 ($4.0 M spent
to December 2011). Once the earn-in is complete,
B2Gold may elect to carry an individual prospect within
the concession area through to a Preliminary Feasibility
Study for an additional 14% interest in the prospect
• New Porphyry gold/copper discovery
• Airborne geophysical survey outlines a large 5 km by 5
km interpreted intrusive/volcanic complex
• Over 800 m by 300 m gold/copper soil geochem anomaly
(open) identified at Primavera
• Similar style of mineralization to the Maricunga gold
deposit, Chile: +6.0M ozs* gold and the Cerro Casale Maricunga Gold Deposit
gold-copper deposit, Chile: +22.0 M ozs gold, 5.7 B lbs + 6.0 M ozs Gold *
copper ** 2 Km 2 Km
• 3 drill holes completed in Dec. 2011: Phase 2 drilling
now underway
* Proven + Probable: 6.0 M ozs Au; Measured + Indicated : Sampleozs Au (Kinross
Rock 3.4 M B10R137
Gold Corp. website) Primavera
** Proven & Probable: 22 M ozs Au, 5.7 B lbs Cu (Barrick Gold Corp. website) SLIDE 7

8. PRIMAVERA GOLD/COPPER SOIL GEOCHEMISTRY
Gold in Soil Geochemistry Copper in Soil Geochemistry
PR11-001 PR11-001
PR11-002 PR11-002
PR11-003 PR11-003
Interval Gold Copper • Over 800 m by 300 m gold/copper soil
Trench ID
(m) (g/t ) (ppm) geochemistry anomaly (open)
PRTR11-005 51.25 1.53 680 • Trenches returned long intervals of
PRTR11-010 107.00 0.78 980 continuous gold-copper mineralization
PRTR11-011 179.40 0.63 997 including 179.4m grading 0.63g/t Au
and 997 ppm Cu
PRTR11-012 58.00 0.70 1313
PRTR11-013 49.50 0.25 1100 • Very sparse rock outcrop in region with
PRTR11-014 51.70 0.42 1286 up to 10m of overburden and saprolite
SLIDE 8

9. PRIMAVERA GOLD/COPPER PROJECT
• 668 metres of diamond drilling complete in 3 drill holes (Dec.
2011); drilling re-commenced in January, 2012
• Mineralization in the drill holes is comprised of quartz-magnetite-
chalcopyrite-bornite veins and vein stockwork within broad zones
of potassically-altered intermediate volcanic and intrusive rocks
January 2012 Primavera Drill Hole Intercepts
From To Gold Copper
Drill Hole Length (m)
(m) (m) (g/t ) (ppm)
PR-11-001 0.00 276.80 276.80 0.50 2,146
includes 0.00 103.00 103.00 0.85 3,240
PR-11-002 1.5 263.20 261.70 0.78 2,966
includes 1.5 209.00 207.50 0.89 3,378
includes 74.50 209.00 134.50 1.01 3,561
PR -11-003 4.00 127.85 123.85 0.65 2,752
includes 50.50 127.85 77.35 0.74 3,114
Gold in Soil Geochemistry
PR11-001
PR11-002
PR11-003
SLIDE 9

10. PRIMAVERA GOLD/COPPER PROJECT
DRILL HOLE PR11-002
Ground Surface
261.70m grading 0.78 g/t Au, 0.30% Cu
Continuous Au/Cu Mineralization
Scale
SLIDE 10
Looking Northeast

11. PRIMAVERA GOLD/COPPER PROJECT
Primavera Drill Hole PR11-001 Intercepted: 103.0 m grading 0.85 g/t Au, 0.32% Cu
Pictured drill intercept assayed:
2.00m @ 1.11 g/t Au and 0.42% Cu
(Section 76.00m – 78.00m of Hole PR11-001)
SLIDE 11

12. PRIMAVERA GOLD/COPPER PROJECT
Total Magnetic Intensity Ground Survey
Gold – Copper
mineralization
associated with
magnetic low
PR11-001
PR11-002
PR11-003
Total Magnetic Intensity Airborne Survey
Drilling Site
2 Km Area of TMI
Ground Survey
SLIDE 12

13. PRIMAVERA GOLD/COPPER PROJECT
• Primavera: new trenching/drilling
gold/copper discovery
• 1.2 km access road has been completed
from the main Siuna-Rosita road to site
• National power grid located 1.2 km west
of Primavera discovery
• Subdued topography with main land use
including subsistence farming and
ranching
Main road and power line to Rosita
Site of Trenching & Drilling
1.2 km
SLIDE 13

14. PORPHYRY GOLD/COPPER DEPOSITS OF CENTRAL AMERICA AND CORDILLERA
Tonnes Au Cu Au Eq. Contained Au Contained Cu
Deposit (Mt) (g/t) (%) (g/t)* (Million ozs) (Billion lbs)
Cerro Casale 1,200 0.59 0.22 0.94 23.1 5.78
Chapada 429 0.24 0.26 0.65 3.1 2.15
El Morro 537 0.49 0.52 1.31 8.2 6.08
Primavera
New Porphyry Gold-Copper Discovery Agua Rica 908 0.22 0.49 1.00 22.1 9.78
Maricunga 269 0.70 0.00 0.70 6.0 0.00
Alumbrera 390 0.51 0.47 1.25 6.4 4.03
Kemess South 109 0.71 0.23 1.07 2.5 0.56
Cobra Panama Mt. Milligan 531 0.34 0.20 0.66 6.0 2.12
19.6 B lbs Copper
4.9 M ozs Gold Cobra Panama 2,143 0.07 0.41 0.72 4.9 19.59
Cerro
1,400 0.08 0.78 1.31 3.5 24.00
Colorado
Primavera ** - 0.76 0.30 1.23 - -
* Au Eq. (g/t): Gold Equivalent calculated using $1,300 oz gold and
Cerro Colorado $3.00/lb copper and metallurgical recoveries and net smelter returns
24.0 B lbs Copper are assumed to be 100%.
3.5 M ozs Gold
** Weighted average grade of first 3 drill hole intercepts PR11-001,
PR11-002, PR11-003.
Rock Sample B10R137
Resource Information derived from Website Sources
SLIDE 14

15. RISCOS DE ORO DISTRICT POTENTIAL – 100% CALIBRE OWNED
• Low Sulfidation Epithermal Gold-Silver
Vein District
• Comparable to nearby Bonanza Camp in Calibre Drill Program, including drill holes:
 RD11-012: 7.69 g/t Au; 211.8 g/t Ag; 10.6m
geology, mineralization, and structure RD11-010: 10.25 g/t Au; 288.25 g/t Ag; 8.5m
(past production of +2.8 million ozs Au)
• Gold – Silver System extends over 7 km
from the El Paraiso and Murcielago
targets Northeast towards Riscos de Oro
• Completed 9,427m of resource
delineation drilling at Riscos in 37 holes
with epithermal gold-silver intercepts
including 7.69 g/t Au, 211.80 g/t Ag over
10.6m
• Historic trenching at Murcielago adit
returned 12.4 g/t Au over Riscos de Oro
Historical Trench:
3.0 metres 12.43 g/t Au
93.00 g/t Ag
• Multiple parallel veins identified Over 3.0 metres
• Cumulative prospective geology /
structure of 15km strike length
SLIDE 15

16. RISCOS DE ORO – DRILL PLAN
A
• 9,427m of delineation drilling completed
• Former open pit and underground mine to 90m depth
A’ only
• Gold-Silver mineralization defined over 725m strike
length to a depth of 300m
• Drilling Highlights:
 RD11-012: 7.69 g/t Au, 211.80 g/t Ag over 10.6m
Riscos de Oro  RD11-010: 10.25 g/t Au, 288.25 g/t Ag over 5.4m
 RD10-009: 4.23 g/t Au, 384.86 g/t Ag over 8.53m
• Multiple mineralized veins and structures
SLIDE 16

17. Riscos de Oro Cross Section (A to A’)
Historic Ground
A Surface
(Mined Out)
A’
Historic Drilling
Ground Surface
Saprolite
50 m
Limit of Historic
Underground Mining
OPEN
RD11-011
6.41 g/t Au and 139.21 g/t Ag
3.62 metres
RD11-010
10.25 g/t Au and 288.25 g/t Ag
5.4 metres
Including:
24.00 g/t Au and 714.25 g/t Ag
2.0 metres
RD10-003 RD11-012
8.81 g/t Au and 55.74 g/t Ag 7.69 g/t Au and 211.80 g/t Ag
3.4 metres 10.60 metres
Including: Including:
11.05 g/t Au and 72.30 g/t Ag 9.16 g/t Au and 252.50 g/t Ag
2.3 metres 6.65 metres
And
OPEN 10.02 g/t Au and 268.00 g/t Ag
2.00 metres
SLIDE 17

18. RISCOS DE ORO GOLD-SILVER PROJECT – 100% CALIBRE OWNED
Assay Highlights from Drilling Programs
from 2010 / 2011:
From To Interval Gold Silver
Hole ID (m) (m) (m) (g/t ) (g/t)
RD10-001 177.60 183.40 5.80 2.44 292.60 Riscos de Oro
including 177.60 178.40 0.80 14.05 1,990.00
RD10-009 160.70 169.23 8.53 4.23 384.86
including 168.28 169.23 0.95 17.85 2,810.00
RD11-010 167.1 168.6 1.50 5.98 9.10
including 224.5 226.5 2.00 24.00 714.25
RD11-012 249.30 259.90 10.60 7.69 211.87
including 249.30 255.95 6.65 9.16 252.50
RD11-015 182.00 184.20 2.20 5.44 405.55
RD11-016 198.50 205.60 7.10 2.72 287.65
including 201.92 205.60 3.68 3.61 518.44
RD11-019 121.15 126.95 5.80 9.37 64.80
including 125.15 126.95 1.80 13.82 132.10
RD11-026 208.84 211.42 2.58 8.74 120.50
RD11-029 282.52 284.97 2.45 10.30 56.70
SLIDE 18

19. RISCOS DE ORO GOLD-SILVER PROJECT – 100% CALIBRE OWNED
Riscos de Oro RD11-016 Intercepted: 7.10m of 2.72 g/t Au & 287.65 Ag
Pictured intercept assayed:
3.68m @ 3.6 g/t Au and 518 g/t Ag
(Section 201.92m – 205.60m of Hole RD11-016)
SLIDE 19

20. CERRO AEROPUERTO NI 43-101 INFERRED RESOURCE
Hole From (m) To (m) Length Au
(m) (g/tonne)
CA-07-01 194.80 197.80 3.00 19.72
CA-07-01 242.80 266.80 24.00 5.75
CA-07-02 242.00 244.00 2.00 25.08
CA-07-02 257.50 259.70 2.20 16.94
CA-07-03 303.00 306.00 3.00 4.16
CA-07-03 316.00 318.00 2.00 7.34
CA-08-04 237.00 240.00 3.00 2.10
CA-08-08 263.80 266.40 2.60 2.01
Historic La Luz Mine
Open Pit
CA-08-16 9.00 13.95 4.95 2.50
CA-08-16 111.00 116.00 5.00 7.23
CA-08-16 174.70 177.20 2.50 6.56
Cerro Aeropuerto
• 100% Calibre owned
Tonnes and Grade Total Contained Metal
Cutoff
grade Tonnes Au Ag
Au
Eq1 Au Ag Au Eq1
• High Grade Gold Skarn
Au Eq (mm
500m System
(mm) (g/t) (g/t) (g/t) (ounces) (ounces)
(g/t)1 ounces)
0.2 6.85 3.24 14.69 3.47 714,640 3.23 765,290 • New NI 43-101 inferred
0.4 6.22 3.55 15.95 3.80 709,820 3.19 759,780 resource
0.6 6.05 3.64 16.16 3.89 707,750 3.14 757,000
• 500 metres south of
0.8 5.66 3.86 15.95 4.11 702,330 2.90 747,750 historic La Luz Mine (past
1.0 5.40 4.02 15.93 4.27 696,910 2.76 740,200 production of 2.7 M oz Au
1.Au Eq cutoff equivalent production)
calculated using Wardrop’s
estimated gold price of • Deposit is open to the
US$1058/oz and silver price of
US$16.57 per oz. north & south
2.Mineral resources that are not
mineral reserves do not have SLIDE 20
economic viability

21. Rosita D Concession – Calibre/Alder Option
• New partner in Alder Resources; Alder to
spend C$4 million over the next four years
to earn a 65% stake in Calibre’s Rosita D
Concession
• Rosita D concession consist of an area of
Rosita Historical Open Pit
3,356 hectares
• Historic open pit Santa Rita copper-gold
mine boasts total historic production from
skarn mineralization estimated at 305 mm
Rosita lbs of Cu, 177,737 ozs of Au, and 2,629,720
ozs of Ag from 5,924,572 tons of ore
(Arengi, 2002)
• Recent significant trenching results include
Trench STR 11 -002 returning 1.06 g/t Au,
0.96% Cu and 9.33 g/t over 12 m
• Phase One exploration commenced,
Rosita Historical Open Pit
including 5,000 metres of “RC” and
diamond drilling
SLIDE 21

22. EXPLORATION TIME LINE / NEWS FLOW
2012 Q1 Q2 Q3 Q4
Exploration Calibre/B2Gold Option
for Porphyry
Gold/Copper 100% Calibre owned
Systems concessions
Target
Primavera – Calibre/B2Gold
Delinineation
Drilling
Rosita Copper Project – Calibre/Alder Resources Option
Riscos de Oro - 100% Calibre
Data Review
Drilling Results Compilation
RESULTS Drill Results from Riscos de Oro, Rosita, Primavera
SLIDE 22

23. Contact: Mark Carruthers, Investor Relations
Phone: 604 681 9944
Email: mcarruthers@calibremining.com
Website: www.calibremining.com
TSX – V: CXB
M I N I N G C O R P.