Calibre Mining is exploring for gold, copper and silver deposits in Nicaragua. The company's Primavera project has returned promising drill results, including 261.7 meters grading 0.78 g/t gold and 0.30% copper. Calibre has a joint venture with B2Gold on Primavera and other concessions, with B2Gold able to earn a 51% interest by spending $8 million by mid-2014. The project shows potential to host a large porphyry gold-copper system similar to deposits elsewhere in Central and South America.

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

2. 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.

3. 4 CALIBRE INVESTMENT HIGHLIGHTS CALIBREMINING.COM 5
Calibre’s borosi Gold-Copper-Silver Project
mining triangle of northeast nicaragua, Central America
INvESTMENT HIGHLIGHTS
StAblE EnvironmEnt: ProliFiC mininG DiStriCt nEw DiSCovEry: PrimAvErA GolD-CoPPEr ProJECt
» Stable government, with a political environment favorable » Primavera porphyry gold/copper discovery
to mining
» Discovery drill hole (Jan. 2012): 261.7 m grading 0.78 g/t Au, 0.30% Cu
» Prolific “Mining Triangle” has produced over 7.9M oz’s of gold
» Joint Venture with B2Gold. B2Gold(Nicaragua’s largest gold producer)
» 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
EStAbliShED ProJECtS: ProvEn PArtnErS
tEAm AnD PArtnErS: ExPEriEnCED, SuCCESSFul
» Calibre 100%-owned NI 43-101 Compliant Inferred Resource totaling
» Calibre Mining Proven management with decades of mining and public 835,000 ozs Gold and 4.3 million ozs Silver
company experience
» 100%-owned Riscos de Oro epithermal gold-silver project: 9,427m
» Featherstone Capital Strong history of success. Have created billions of delineation drilling completed to date
dollars in Shareholder Value
» Joint Venture with Alder Resources Ltd. on the Rosita copper skarn project.
» B2Gold Nicaragua’s largest gold producer with two mines and a strong Alder will invest up to $4 million, for a 65% earn in. Drilling underway at
portfolio of development assets Rosita
» Alder Resources Experienced management with focus on exploration in
the Americas

4. 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
» Founder and director of several public companies; 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
» Involved in successfully outlining 10+ million ounces of gold discoveries. base and precious metals in the Americas.
George Salamis Director
» 20+ years exploration, development and operations experience;
» 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;
» Strategic Senior Advisor at McMillan LLP.
SHARE STRUCTURE
FEAthErStonE CAPitAl
issued & outstanding 167,865,918
Douglas B. Forster, M.Sc., P.Geo Executive Chairman of the Calibre Board options 15,900,000
» President & CEO of Featherstone Capital Inc. yamana warrants 10,000,000*
» 30+ years of resource project development, M&A, equity finance and Fully Diluted 193,765,918
public company management; Fully Diluted Cash Position ~$13,174,000
» Founder and director of numerous public companies; working Capital ~$1,750,000
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).
» Chairman of Featherstone Capital Inc.

5. 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

6. 10 BOROSI CONCESSIONS AREA CALIBREMINING.COM 11
bOROSI GOLD, SILvER AND COPPER
CONCESSIONS – “MINING TRIANGLE”
CAlibrE/b2GolD
1 PrimAvErA
Borosi Concessions Gold-Copper
100% CAlibrE
m
5k
27
NICARAGUA Cerro Cola Blanca 2 CErro AEroPuErto
Forest Reserve Gold-Silver
Managua
NI43-101 Inferred Resource
707,750 oz Au
3.14M oz Ag
Bonanza
Riscos de Oro 4
3 lA lunA
Bonanza (Gold Mine) Gold-Silver
2.8M OZS PAST PRODUCTION
NI43-101 Inferred Resource
3 127,700 oz Au
1.74M oz Ag
La Luna 4 riSCoS DE oro
Rosita Gold-Silver
5 9,427m of drilling completed
Santa Rita
CAlibrE/AlDEr
Cerro Banacruz rESourCES
Forest Reserve
1 5 SAntA ritA
Primavera Copper-Gold
Former open pit copper mine
produced 305M lbs Cu
Prospects
100% Calibre
Calibre-Alder Option Area
Cerro
Aeropuerto
2
2 Siuna Calibre-B2Gold Option Area
0 5 10 15 20km
LA LUZ (Gold Mine)
2.7M OZS PAST PRODUCTION

7. 12 PRIMAVERA PROJECT CALIBREMINING.COM 13
Borosi Concessions
PRIMAvERA GOLD/COPPER PROJECT
NEW PORPHyRy GOLD/COPPER DISCOvERy
0km 10 20
ProJECt hiGhliGhtS
AIRbORNE RADIOMETRIC SURvEy
» Road accessible with national power grid located 1.2 km from the project,
8km from town of Rosita
» 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 ($4.0 spent to December 2011). 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 intrusive/volcanic
» 3 drill holes completed in December 2011. Phase 2 drilling now underway Complex
» Similar style of mineralization to the Maricunga gold deposit,
Chile: +6.0M ozs* gold; and the Cerro Casale gold-copper deposit,
Chile: +22.0M ozs gold, 5.7B lbs copper.**
PrimAvErA GolD-CoPPEr DiSCovEry
*Proven + Probable: 6.0 M ozs Au; Measured + Indicated : 3.4 M ozs Au (Kinross
Gold Corp. website)
* *Proven & Probable: 22 M ozs Au, 5.7 B lbs Cu (Barrick Gold Corp. website)

8. 14 PRIMAVERA PROJECT CALIBREMINING.COM 15
Borosi Concessions
PRIMAvERA GOLD/COPPER PROJECT
SOIL GEOCHEMISTRy
0km 10 20
GOLD IN SOIL GEOCHEMISTRy COPPER IN SOIL GEOCHEMISTRy
Pr11-001 Pr11-001
Pr11-002 Pr11-002
Pr11-003 Pr11-003
TRENCH RESULTS HIGHLIGHTS
trench iD interval (m) Gold (g/t) Copper (ppm) » Over 800 m by 300 m gold/copper soil geochemistry anomaly (open)
Prtr11-005 51.25 1.53 680 » Trenches returned long intervals of continuous gold-copper mineralization
Prtr11-010 107.00 0.78 980 including 179.4m grading 0.63g/t Au and 997 ppm Cu
Prtr11-011 179.40 0.63 997
» Very sparse rock outcrop in region with up to 10m of overburden
Prtr11-012 58.00 0.70 1313 and saprolite
Prtr11-013 49.50 0.25 1100
Prtr11-014 51.70 0.42 1286

9. 16 PRIMAVERA PROJECT CALIBREMINING.COM 17
Borosi Concessions
PRIMAvERA GOLD/COPPER
PROJECT DRILL RESULTS
0km 10 20
» 668 metres of diamond drilling complete in 3 drill holes (Dec. 2011)
» 2,000m Phase II Drill Program initiated 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
Drill hole From to length Gold Copper
(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

10. 18 PRIMAVERA PROJECT CALIBREMINING.COM 19
Borosi Concessions
PRIMAvERA GOLD/COPPER PROJECT
DRILL HOLE PR11-002 DRILL HOLE PR11-001
0km 10 20
Au (g/t)
Cu (ppm)
PR11-002 INTERCEPTED: PR11-001 INTERCEPTED:
» 261.70m grading 0.78 g/t Au, 0.30% Cu » 103.0m grading 0.85 g/t Au, 0.32% Cu
» Continuos Gold-Copper Mineralization
PICTURED DRILL INTERCEPT ASSAyED
» 2.00m @ 1.11g/t Au and 0.42% Cu
(Section 76.00m-78.00m of Hole PR11-001)

11. 20 PORPHYRY GOLD-COPPER DEPOSITS IN THE AMERICAS CALIBREMINING.COM 21
PORPHyRy GOLD/COPPER DEPOSITS
OF CENTRAL AMERICA AND CORDILLERA
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
PRIMAVERA El morro 537 0.49 0.52 1.31 8.2 6.08
Porphyry Gold-Copper Project
Agua rica 908 0.22 0.49 1.00 22.1 9.78
maricung 269 0.70 0.00 0.70 6.0 0.00
NICARAGUA
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
Caribbean Sea 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
Cerro Colorado 1,400 0.08 0.78 1.31 3.5 24.00
Primavera ** - 0.76 0.30 1.23 - -
* Au Eq. (g/t): Gold Equivalent calculated
COBRA PANAMA using $1,300 oz gold and $3.00/lb copper
and metallurgical recoveries and net smelter
19.6 B lbs Copper, 4.9M ozs Gold
returns are assumed to be 100%.
COSTA RICA
** Weighted average grade of first 3 drill hole
intercepts PR11-001, PR11-002, PR11-003
Resource Information derived from Website
Sources.
Pacific Ocean
PANAMA
CERRO COLORADO
24.8 B lbs Copper, 3.5M ozs Gold

12. 22 RISCOS DE ORO PROJECT CALIBREMINING.COM 23
Borosi Concessions
RISCOS DE ORO PROJECT
DISTRICT POTENTIAL
0km 10 20
100% CAlibrE ownED
» Low Sulfidation Epithermal Gold-Silver Vein District
» Comparable to nearby Bonanza Camp in geology, mineralization,
and structure (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 7.0 Km SW of Riscos returned
12.4 g/t Au over 3.0 metres
» Multiple parallel veins identified
DRILLING DETAILS
» 9,427m of delineation drilling completed
» Former open pit and underground mine to 90m depth only
» Gold-Silver mineralization defined over 725m strike length to
a depth of 300m
» Multiple mineralized veins and structures
DRILLING HIGHLIGHTS
» rD11-012: 7.69 g/t Au, 211.80 g/t Ag over 10.6m
» 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

13. 24 RISCOS DE ORO PROJECT CALIBREMINING.COM 25
Borosi Concessions
RISCOS DE ORO ASSAy HIGHLIGHTS FROM DRILLING PROGRAMS FROM 2010/2011
PROJECT HIGHLIGHTS hole iD thickness (m)1 Au Grade (g/t)2 Ag Grade (g/t)2 AuEq (g/t)3
0km 10 20 rD10-001 5.80 2.44 292.60 7.84
DRILLING CROSS SECTION (A TO A’) rD10-002 4.90 0.97 28.72 1.50
rD11-003 3.40 8.81 55.74 9.84
rD10-005 4.14 9.04 30.02 9.59
rD10-009 8.53 4.23 384.86 11.34
rD11-010 1.50 5.98 9.10 6.15
and 4.20 2.50 5.16 2.60
rD11-011 3.62 6.41 139.21 8.98
rD11-012 10.60 7.69 211.87 11.60
rD11-013 5.08 0.82 2.76 0.87
rD11-014 3.03 1.54 46.30 2.39
rD11-015 2.20 5.44 405.55 12.93
rD11-016 7.10 2.72 287.65 8.03
and 4.29 3.20 13.30 3.45
rD11-017 3.90 9.31 336.06 15.51
rD11-018 1.39 9.11 14.33 9.37
rD11-019 5.80 9.37 64.8 10.57
rD11-021 8.64 4.4 24.12 4.85
rD11-024 2.35 7.75 15.49 8.04
rD11-025 2.95 4.23 449.8 12.53
RD11-016 INTERCEPTED: rD11-026 2.58 8.74 120.5 10.96
» 7.10m of 2.72 g/t Au & 287.65 Ag rD11-027 4.60 2.28 11.56 2.49
rD11-029 2.45 10.30 56.71 11.35
PICTURED DRILL INTERCEPT ASSAyED rD11-031 2.65 3.33 11.22 3.54
rD11-037 4.21 8.66 37.57 9.35
» 3.68m @ 3.6 g/t Au and 518 g/t Ag
(Section 201.92m – 205.60m of
NOTES 1 All reported intercepts are core lengths and true widths are estimated at 80 percent of
Hole RD11-016) core lengths.
2 Weighted averages calculated usign assays.
3 AuEq (g/t): Gold Equivalent calculated usign $1,300/oz gold and $24.0/oz Ag and
metallurgical and net smelter returns are assumed to be 100%.

14. 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 10 20
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
» Au Eq cutoff equivalent calculated using Wardrop’s estimated
gold price of US$1,058/oz and silver price of US$16.57 /oz Borosi Concessions
» Mineral resources that are not mineral reserves do not have
economic viability.
» Metallurgical recoveries and net smelter returns are assumed to 0km 10 20
be 100%
lA lunA Drill holES

15. 28 CALIBRE/ALDER OPTION CALIBREMINING.COM 29
Borosi Concessions
FORMER SANTA RITA
COPPER MINE
CAlibrE/AlDEr oPtion
0km 10 20
» Optioned to Alder Resources; Alder to spend C$4.0 million over the
next four years to earn a 65% stake in Calibre’s Rosita D Concession
» Rosita D concession: 3,356 hectares - only 5% of Calibre’s concessions
in the Mining Triangle
» Historic open pit Santa Rita copper-gold mine: total historic
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)
» Recent drilling results reported by Alder include: 12m grading
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
» Phase One exploration commenced, including 5,000 metres
of RC and 8,000 metres of diamond drilling

16. SUMMARy EXPLORATION TIME LINE & NEWS FLOW
» Nicaragua provides a favorable, stable, environment
for mining. 2012 Q1 Q2 Q3 Q4
Exploration for Porphyry Calibre/b2Gold option
» The ‘Mining Triangle’ has proven potential and is Gold/Copper Systems 100% Calibre owned concessions
under-explored.
Target Delineation Primavera / Calibre/B2Gold
Drilling rosita Copper Project / Calibre/Alder Resources Option
» Calibre Mining, Featherstone Capital, B2Gold, and
Alder Resources are an established, experienced team Data Review
riscos de oro / 100% Calibre
who control over 860 km2 of underexplored territory Drilling results comparison
in an area that has already produced more than 7.9M
rESultS Drill results from Santa rita and Primavera
oz’s of gold.
» New and significant porphyry gold-copper discovery
at Primavera.
INFORMATION
» With up to $8 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

17. Calibre mining Corp.
1620 - 1066 West Hastings St.
Vancouver, BC V6E 3X1
TSX.V: CXB
calibremining.com