Calibre mining April 2012 CXB Final

Advanced Gold, Copper and Silver Exploration Mining Triangle, Nicaragua TSX.V: CXB APRIL 2012

FORWARD LOOKING STATEMENTCertain statements in this document constitute “forward looking statements” which may notbe based on historical fact. Such forward looking statements involve known and unknownrisk, uncertainties and other factors which may cause the actual results, performanceor achievements of the Company, or industry results to be materially different from anyfuture results, performance, or achievements expressed or implied by such forward lookingstatements. Such factors include, among others, the following: actual results of exploration anddevelopment activities; the costs and timing of the development of new deposits; future pricesof precious and base metals; accidents; risks inherent in mineral exploration; risks associatedwith development, construction and mining operations; restrictions on foreign ownership; theCompany’s history of operating losses and uncertainty of future profitability; uncertainty ofaccess to additional capital; and environmental liability claims and insurance. This presentationis not an offer to purchase securities and does not constitute an offering document underSecurities legislation.

4 CALIBRE INVESTMENT HIGHLIGHTS CALIBREMINING.COM 5 Calibre’s Borosi Gold-Copper-Silver Project Mining Triangle of Northeast Nicaragua, Central America InvestMENT Highlights New Discovery: PRIMAVERA GOLD-COPPER PROJECT Stable Environment: PROLIFIC MINING DISTRICT » rimavera porphyry gold/copper discovery P » Stable government, with a political environment favorable » en drill holes completed totaling 3,199.10m T to mining » iscovery drill hole (Jan. 2012): 261.7m grading 0.78 g/t Au, 0.30% Cu D » Prolific “Mining Triangle” has produced over 7.9M oz’s of gold » oint Venture with B2Gold. B2Gold(Nicaragua’s largest gold producer) J » Calibre and its partners control over 860 km2 of underexplored project can earn a 51% interest in 322km2 of concessions including Primavera area in the region » Second diamond drill rig being added to the program (2 rigs total) » 25km2 porphyry gold/copper target area at Primavera Team AND PARTNERS: Experienced, Successful » Calibre Mining Proven management with decades of mining and public Established ProjectS: Proven PARTNERS company experience » alibre 100%-owned NI 43-101 Compliant Inferred Resource totaling C » eatherstone Capital Strong history of success. Have created billions of F 835,000 ozs Gold and 4.3 million ozs Silver dollars in Shareholder Value » 00%-owned Riscos de Oro epithermal gold-silver project: 9,427m 1 » B2Gold Nicaragua’s largest gold producer with two mines and a strong delineation drilling completed to date portfolio of development assets » oint Venture with Alder Resources Ltd. on the Rosita copper skarn project. J » Alder Resources Experienced management with focus on exploration in Alder will invest up to $4 million, for a 65% earn in. Drilling underway at the Americas Rosita

6 CALIBRE TEAM CALIBREMINING.COM 7 EXPERIENCED Team PARTNERS Calibre Mining Corp B2Gold Edward Farrauto, CGA President & CEO, Director Vancouver based gold producer led by Clive Johnson and Tom Garagan, » 20+ years experience as CFO and director of public companies; with two gold mines in Nicaragua and a strong portfolio of development and » ounder and director of several public companies; F exploration assets in Nicaragua, Colombia and Uruguay. B2Gold was founded Paulo Santos, CA Chief Financial Officer in 2007 by the former executive and management team of Bema » 10+ years experience with public accounting, auditing, and regulatory Gold Corporation. compliance Greg Smith, P.Geo VP Exploration Alder Resources » 23+ years exploration experience with both junior & senior operations; Toronto-based junior exploration company with a focus on exploration for » nvolved in successfully outlining 10+ million ounces of gold discoveries. I base and precious metals in the Americas. George Salamis Director » 20+ years exploration, development and operations experience; » resident & CEO of Edgewater Exploration Ltd. P 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; » Strategic Senior Advisor at McMillan LLP. SHARE STRUCTURE Featherstone Capital Issued & Outstanding 167,910,918 Douglas B. Forster, M.Sc., P.Geo Executive Chairman of the Calibre Board Options 15,855,000 » President & CEO of Featherstone Capital Inc. Yamana Warrants 10,000,000* » 0+ years of resource project development, M&A, equity finance and 3 Fully Diluted 193,765,918 public company management; Fully Diluted Cash Position $12,417,250 » Founder and director of numerous public companies; Working Capital $1,000,000 Blayne Johnson Lead Director of Calibre Board * In conjunction with the purchase of the Borosi Concessions in 2009, Calibre granted 10 million » 25 years of capital markets experience; warrants to Yamana Gold (5 million exercisable at $0.50 and 5 million exercisable at $1.00). The warrants expire in July 2014 and are only exercisable if Calibre delineates at least 2.5 million NI 43- » Former VP of First Marathon Securities 101 Measured and Indicated compliant ounces of gold equivalent (total of gold and copper resources). » hairman of Featherstone Capital Inc. C

8 WORKING IN NICARAGUA CALIBREMINING.COM 9 BOROSI CONCESSION AREA Borosi Puerto Cabezas HONDURAS Concessions (Airport) Nicaragua: Stable, Under Explored Bonanza (Gold Mine) Riscos de Oro Mining Environment EL SALVADOR Siuna Rosita and Primavera » Democratic Republic with President Ortega elected to a new 5 year term in Nov. 2011 » Gold is Nicaragua’s No. 3 export NICARAGUA » Gold has helped Nicaragua’s economy grow by 4% annually in the past year, El Limon (Gold Mine) the highest rate in Central America B2GOLD CORP. » Annual gold production has more than doubled in the past 3 years La Libertad (Gold Mine) Pacific Ocean Managua B2GOLD CORP. » Supportive mining laws, including favourable tax regime Caribbean » 25 year exploration and 50 year exploitation permits Sea » Economist Intelligence Unit ranks Nicaragua as one of the safest countries Lake in Central America Nicaragua COSTA RICA 0 20 40 80 120 160km

10 BOROSI CONCESSIONS AREA CALIBREMINING.COM 11 BOROSI GOLD, SILVER AND COPPER CONCESSIONS – “Mining triangle” CALIBRE/B2Gold 1 PRIMAVERA Borosi Concessions Gold-Copper 2 Minnesota Gold-Copper m 5k 27 NICARAGUA Cerro Cola Blanca Forest Reserve 100% CALIBRE Managua 3 CERRO AEROPUERTO Gold-Silver Bonanza Riscos de Oro 5 NI43-101 Inferred Resource 707,750 oz Au Bonanza (Gold Mine) 3.14M oz Ag 2.8M OZS PAST PRODUCTION 2 4 4 LA LUNA Minnesota Gold-Silver NI43-101 Inferred Resource La Luna 127,700 oz Au Rosita 1.74M oz Ag 6 5 RISCOS DE ORO Gold-Silver Santa Rita 9,427m of drilling completed Cerro Banacruz CALIBRE/ALDER Forest Reserve 1 RESOURCES Primavera 6 SANTA RITA Copper-Gold Prospects Former open pit copper mine 100% Calibre produced 305M lbs Cu Calibre-Alder Option Area Cerro Aeropuerto 3 Siuna Calibre-B2Gold Option Area 0 5 10 15 20km LA LUZ (Gold Mine) 2.7M OZS PAST PRODUCTION

12 PRIMAVERA PROJECT CALIBREMINING.COM 13 Borosi Concessions PRIMAVERA GOLD/COPPER PROJECT PROJECT HIGHLIGHTS 0km 20 40 » Road accessible with national power grid located 1.2 km from the project, 8km from town of Rosita AIRBORNE RADIOMETRIC SURVEY » Subdued topography with main land use being subsistence farming and ranching. » Joint Venture with B2Gold: B2Gold can earn a 51% interest in Primavera, as well as 322 sq km of surrounding concessions, by spending $8M by June, 2014 ($5.3 spent to March 2012). B2Gold may elect, once earn-in is complete, to carry an individual prospect within the concession area through a Preliminary Feasibility Study for an additional 14% interest in the project » Airborne geophysical survey outlines a large 5km by 5km interpreted intrusive/volcanic complex » 10 drill holes completed totaling 3199.10m » Second diamond drill rig being added to the program (2 rigs in total) Intrusive/Volcanic » Primavera is geologically similar to Newcrest Mining Limited’s Cadia- Complex Ridgeway porphyry gold/copper mine in NSW, Australia where underground and open pit reserves contain 23.6M oz Au and 8.3B lbs Cu* PRIMAVERA GOLD-COPPER DISCOVERY*Newcrest Mining Limited website

14 PRIMAVERA PROJECT CALIBREMINING.COM 15 Borosi Concessions PRIMAVERA GOLD/COPPER PROJECT SOIL GEOCHEMISTRY 0km 20 40 GOLD IN SOIL GEOCHEMISTRY COPPER IN SOIL GEOCHEMISTRY PR-12-005 PR-12-005 PR-12-007 PR-12-007 PR-12-008 PR-12-008 PR-12-006 PR-12-006 PR-11-001 PR-11-001 PR-11-002 PR-11-002 PR-12-011 PR-12-011 PR-12-009 PR-12-009 PR-11-003 PR-11-003 PR-12-004 PR-12-004 PR-12-010 PR-12-010 TRENCH RESULTS HIGHLIGHTS Trench ID Interval (m) Gold (g/t) Copper (ppm) » ver 800 m by 300 m gold/copper soil geochemistry anomaly (open) O PRTR11-005 51.25 1.53 680 » dditional gold/copper soil geochem anomalies have been outlined in the A PRTR11-010 107.00 0.78 980 25km2 Primavera porphyry target area PRTR11-011 179.40 0.63 997 » renches returned long intervals of continuous gold/copper mineralization T PRTR11-012 58.00 0.70 1313 including 179.4m grading 0.63g/t Au and 997 ppm Cu PRTR11-013 49.50 0.25 1100 » ery sparse rock outcrop in region with up to 10m of overburden V PRTR11-014 51.70 0.42 1286 and saprolite

16 PRIMAVERA PROJECT CALIBREMINING.COM 17PRIMAVERA GOLD/COPPER PROJECT RESULTS 2012 PRIMAVERA DRILL HOLE INTERCEPTS» ,199.10 metres of diamond drilling completed in 10 holes with an ongoing program 3 Drill Hole From To Length Gold Copper (m) (m) (m) (g/t) (ppm) using 2 drill rigs completing a program of infill and step-out drilling at the primavera gold/copper system as well as drill testing additional porphyry and vein targets PR-11-001* 0.00 276.80 276.80 0.50 2,146 includes 0.00 103.00 103.00 0.85 3,240» old/copper mineralization has been intersected in drill holes over a 300m by 300m G area and to a depth of 300m with mineralization comprised of quartz-magnetite- PR-11-002* 1.5 263.20 261.70 0.78 2,966 chalcopyrite-bornite veins and vein stockwork within broad zones of potassically and includes 1.5 209.00 207.50 0.89 3,378 propylitically-altered intermediate volcanic and intrusive rocks includes 74.50 209.00 134.50 1.01 3,561 PR -11-003** 4.00 327.20 323.20 0.41 1,843» rimavera is geologically similar to Newcrest Mining Limited’s Cadia-Ridgeway gold/ P copper mine (23.6M oz Au and 8.3B lbs Cu) includes 4.00 150.50 146.50 0.65 2,742 includes 150.50 293.00 142.50 0.22 1,197 Borosi Concessions 293.00 327.20 34.20 0.13 683 PRIMAVERA DRILL PLAN PR-12-004 NSV*** NSV*** PR-12-005 207.50 372.50 165.00 0.31 1,713 0km 20 40 207.50 224.00 16.50 0.35 1,103 224.00 270.00 46.00 0.48 3,155 270.00 312.00 42.00 0.15 749 312.00 372.50 60.50 0.27 1,452 PR-12-006 12.00 102.00 90.00 0.21 1,315 PR-12-007 7.70 255.00 247.30 0.22 1,097 includes 7.70 156.00 148.30 0.22 917 includes 156.00 197.00 41.00 0.34 1,760 includes 197.00 255.00 58.00 0.16 1,088 PR-12-008 107.65 280.00 172.35 0.48 2,401 includes 107.65 131.50 23.85 0.32 1,478 includes 131.50 187.00 55.50 0.67 3,507 includes 187.00 280.00 93.00 0.41 1,978 280.00 382.50 102.50 0.23 1,139 393.00 430.50 37.50 0.14 1,005 PR-12-009 NSV*** NSV*** PR-12-10 79.00 94.40 15.40 0.59 4,325 includes 81.00 86.00 5.00 0.51 9,644 *Holes released in news release dated January 20, 2012 ** Results initially released for top 127.5 metres (January 20, 2012).Hole was paused over the holiday break ***No Significant values Note: Hole PR-12-010 was analyzed at Inspectorate’s Labs in Vancouver

18 PRIMAVERA PROJECT CALIBREMINING.COM 19 Borosi Concessions PRIMAVERA GOLD/COPPER PROJECT DRILL HOLES PR11-002, PR12-008 DRILL HOLE PR12-008 0km 20 40 PR-11-002 * PR-12-008 Au (g/t) Cu (ppm) PR11-002 INTERCEPTED: » 261.70m grading 0.78 g/t Au, 0.30% Cu » Continuos Gold-Copper Mineralization PR12-008 INTERCEPTED: » 247.35m grading 0.43 g/t Au, 0.21% Cu PR12-008 INTERCEPTED: including 172.35m grading 0.48 g/t Au, 0.24% Cu » 172.35m grading 0.48 g/t Au, 0.24% Cu WEIGHTED AVERAGE GRADE ON SECTION: PICTURED DRILL INTERCEPT ASSAYED » 254.52m grading 0.61 g/t Au, 0.26% Cu » .52m @ 0.59g/t Au and 0.29% Cu 5 (Section 196.93m-202.45m of Hole PR12-008)*PR12-008 was analyzed at Inspectorate Labs in Vancouver

20 PRIMAVERA PROJECT CALIBREMINING.COM 21 PRIMAVERA PORPHYRY Gold/copper mineralization - DISTRICT POTENTIAL 25 Km 2 Porphyry Gold/Copper Target Area Primavera Porphyry SYSTEMS ARE KNOWN TO Copper Hill OCCUR IN CLUSTERS Santa Juana San Francisco District Exploration Potential » Lidar Survey Completed » Airborne geophysical survey underway » Soil geochem grids expanded » IP survey planned

22 SELECTED PORPHYRY GOLD/COPPER DEPOSITS/MINES CALIBREMINING.COM 23 SELECTED PORPHYRY GOLD/COPPER DEPOSITS/MINES HONDURAS Deposit Tonnes Au Cu Au Eq. Contained Au Contained Cu (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 Agua Rica 908 0.22 0.49 1.00 22.1 9.78 Porphyry Gold-Copper Project Maricung 269 0.70 0.00 0.70 6.0 0.00 Alumbrera 390 0.51 0.47 1.25 6.4 4.03 NICARAGUA Kemess South 109 0.71 0.23 1.07 2.5 0.56 Mt. Milligan 531 0.34 0.20 0.66 6.0 2.12 Cobra Panama 2,143 0.07 0.41 0.72 4.9 19.59 Caribbean Sea Cerro Colorado 1,400 0.08 0.78 1.31 3.5 24.00 Cadia-Ridgeway 1,290 0.58 0.30 1.06 23.6 8.30 Primavera** - 0.61 0.25 1.01 - - * Au Eq. (g/t): Gold Equivalent calculated using $1,300 oz gold and $3.00/lb copper and metallurgical recoveries and net smelter COBRA PANAMA returns are assumed to be 100%. 19.6 B lbs Copper, 4.9M ozs Gold **Weighted average grade of PR-11-001, PR-11- COSTA RICA 002, PR-11-003, and PR-12-008 Resource Information derived from Website Sources. Pacific Ocean PANAMA CERRO COLORADO 24.8 B lbs Copper, 3.5M ozs Gold

24 RISCOS DE ORO PROJECT CALIBREMINING.COM 25 Borosi Concessions RISCOS DE ORO PROJECT DISTRICT POTENTIAL 0km 20 40 100% CALIBRE OWNED » ow Sulfidation Epithermal Gold-Silver Vein District L A » omparable to nearby Bonanza Camp in geology, mineralization, C and structure (past production of +2.8 million ozs Au) » old – Silver System extends over 7 km from the El Paraiso and G Murcielago targets Northeast towards Riscos de Oro » ompleted 9,427m of resource C A1 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 » istoric trenching at Murcielago adit H 7.0 Km SW of Riscos returned 12.4 g/t Au over 3.0 metres » ultiple parallel veins identified M DRILLING DETAILS » ,427m of delineation drilling completed 9 » ormer open pit and underground mine to 90m depth only F » old-Silver mineralization defined over 725m strike length to a depth of 300m G » ultiple mineralized veins and structures M Drilling Highlights » D11-012: 7.69 g/t Au, 211.80 g/t Ag over 10.6m R » D11-010: 10.25 g/t Au, 288.25 g/t Ag over 5.4m R » D10-009: 4.23 g/t Au, 384.86 g/t Ag over 8.53m R

26 CERRO AEROPUERTO AND LA LUNA PROJECTS CALIBREMINING.COM 27 NI 43-101 GOLD/SILVER Borosi Concessions RESOURCES AT CERRO AEROPUERTO AND LA LUNA 0km 20 40 100% CALIBRE OWNED La Luz Mine Calibre Mining Corp. Global Inferred Resource (using a 0.6 g/t AuEq 1,3 cutoff grade)2 Tonnes and Grade Total Ounces Deposit Tonnes Gold Silver Au Eq1 Gold Silver Au Eq1 (g/t) (g/t) (g/t) (oz) (oz) (oz) Cerro Aeropuerto 6,052,000 3.64 16.16 3.89 707,750 3,144,500 757,000 La Luna 2,539,000 1.56 14.01 1.78 127,700 1,143,570 146,000 835,450 4,288,070 903,000 CERRO AEROPUERTO DRILL HOLES » u Eq cutoff equivalent calculated using Wardrop’s estimated A gold price of US$1,058/oz and silver price of US$16.57 /oz Borosi Concessions » ineral resources that are not mineral reserves do not have M economic viability. » etallurgical recoveries and net smelter returns are assumed to M 0km 20 40 be 100% LA LUNA DRILL HOLES

28 CALIBRE/ALDER OPTION CALIBREMINING.COM 29 Borosi Concessions FORMER SANTA RITA COPPER MINE CALIBRE/ALDER OPTION 0km 20 40 » ptioned to Alder Resources; Alder to spend C$4.0 million over the O next four years to earn a 65% stake in Calibre’s Rosita D Concession » osita D concession: 3,356 hectares - only 5% of Calibre’s concessions R in the Mining Triangle » istoric open pit Santa Rita copper-gold mine: total historic H production from skarn mineralization estimated at 305 M lbs of Cu, 177,737 ozs of Au, and 2,629,720 ozs of Ag from 5,924,572 tons of ore (Arengi, 2002) » ecent drilling results reported by Alder include: 12m grading R 0.91% Cu, 1.00 g/t Au and 16.63 g/t Ag (Alder News Release February 8, 2012) SANTA RITA HISTORICAL OPEN PIT » hase One exploration commenced, including 8,000 metres P of diamond drilling

Summary EXPLORATION TIME LINE & NEWS Flow» icaragua provides a favorable, stable, environment N for mining. 2012 Q1 Q2 Q3 Q4 Exploration for Porphyry Calibre/B2Gold Option» e ‘Mining Triangle’ has proven potential and is Th Gold/Copper Systems 100% Calibre owned concessions under-explored. Target Delineation Primavera / Calibre/B2Gold Drilling Rosita Copper Project / Calibre/Alder Resources Option»C alibre Mining, Featherstone Capital, B2Gold, and Alder Resources are an established, experienced team Data Review Riscos de Oro / Cerro Aeropuerto / La Luna / 100% who control over 860 km2 of underexplored territory Calibre in an area that has already produced more than 7.9M Drill results from Santa Rita and Primavera + regional porphyry gold/ RESULTS oz’s of gold. copper exploration and drill programs» ew porphyry gold-copper discovery at Primavera N with district potential. INFORMATION»W ith up to $7 million in exploration carried by Mark Carruthers partners, Calibre is able to rapidly advance its calibre@calibremining.com opportunities in the Mining Triangle. (604) 681.9944 Calibre Mining Corp. 1620 – 1066 West Hastings St. Vancouver, BC V6E 3X1 TSX.V: CXB calibremining.com

Calibre Mining Corp.1620 – 1066 West Hastings St.Vancouver, BC V6E 3X1TSX.V: CXBcalibremining.com

Calibre mining April 2012 CXB Final

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