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Message: Calibre Sells Interest in Trundle
| May 19, 2009 |
| Calibre Sells Interest in Trundle |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2009) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce the sale of its interest in the Trundle Property to Clancy Exploration Limited (ASX:CLY) ("Clancy") of Perth, Western Australia. The consideration for the sale will consist of the issue by Clancy of 1,750,000 common shares at a deemed value of $0.12 per share. Upon completion of the sale, Calibre will own 2.7% of the issued and outstanding common shares of Clancy. The acquisition is effected by the signing of a conditional agreement with the Australian subsidiary of Calibre to acquire all of its interest in an Option Agreement with Western Plains Resources Limited (ASX:WPR) ("Western Plains") over the Trundle project. The agreement contains several conditions including the requirement of consent by Western Plains to the transaction. Clancy is an Australian-focused copper, gold and base metals explorer. The Company's portfolio has been built up over a number of years and consists of highly prospective copper-gold projects in the Lachlan Fold Belt of North South Wales, base metal projects in the Mount Read Volcanic Belt of Tasmania, Nadbuck near Broken Hill and Yalgoo adjacent to the Golden Grove mine in Western Australia. Calibre Mining Corp. is a TSX Venture Exchange listed company that is focused on the acquisition, exploration and development of gold and copper deposits. On behalf of the Board of Directors Robert Brown, CEO and President |
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