Calibre Mining Corp (CXB)

[ThSeeker]

Calibre and Rio Tinto Exploration Enter Into Agreements: $45 Million Earn-In Agreement for 100%-owned Borosi Projects; And Strategic Exploration Alliance for Nicaragua

February 24, 2020

VANCOUVER, British Columbia, Feb. 24, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce that the Company and Rio Tinto Exploration (“Rio Tinto”) have entered into an option earn-in agreement dated February 23, 2020 (the “Earn-in Agreement”), pursuant to which Rio Tinto can earn up to a 75% interest in Calibre’s 100%-owned Borosi Projects in Northeast Nicaragua. The Borosi Projects host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets.

Furthermore, the Company and Rio Tinto have entered into a strategic exploration alliance agreement (the “Alliance Agreement”) under which we will work together to identify and acquire exploration concessions in Nicaragua, with a focus on copper-gold porphyry, skarn and epithermal precious metal systems.

https://www.calibremining.com/news/calibre-and-rio-tinto-exploration-enter-into-agree-1298/#nfb022420