1. Option: If Rio Tinto spends a total of US$4 million over three years and pays a total of $300,000 in cash to Aethon in the first two years, has the right to acquire a 51% interest in the Arcas project (“Phase 1 project expenses”) by acquiring 51% of shares in a new company (Opco) that will be integrated; VANCOUVER, British Columbia, February 24, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or “the company”) is pleased to announce, the company and Rio Tinto Exploration (“Rio Tinto”) have entered into an option agreement on the February 23, 2020 completion agreement (the “Earn-in” agreement) that allows Rio Tinto to acquire up to 75% of the 100% share of The Borosi projects in northeastern Nicaragua. Borosi projects house both gold-silver and copper-gold resources in two areas, as well as several less studied copper-gold skarns, low-sulphide gold-silver epithermal venous systems and copper-gold porphyry targets with massive tonnage. In addition, the company and Rio Tinto have entered into a strategic exploration alliance (the “Alliance Agreement”) in 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. VANCOUVER, British Columbia, 04.08.2020 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“American Pacific” or “Company”) is pleased, through its wholly owned subsidiary American Pacific Mining (US) Inc., it entered into an option for the creation of a joint venture agreement (the “earn-in agreement”) for the company`s Tuscarora Gold project with Elko Sun Mining Corp. (the option), a private company in British Columbia. Partner: Earn-in-Options agreement with Vanstar Mining Resources Inc. John Miniotis, Acting CEO of Aethon, said: “We are pleased to secure a major exploration agreement on the Arcas project with one of the world`s largest mining and exploration companies. Rio Tinto`s enormous technical and financial depth will greatly improve the prospects for a successful discovery of a major copper discovery at Arcas. A photo of this announcement is available on www.globenewswire.com/NewsRoom/AttachmentNg/8bba2d83-dd8c-49d5-a455-ba7787ced80e The Arcas Project is located in the Antofagasta region, 245 km northeast of the city of Antofagasta, a world-class mining centre (see Figure 1 below). The project is located in the Atacama Desert, a transition zone between the deep desert and the high cordillera, at altitudes between 1,500 and 3,800 meters.
The Arcas concession block represents a total area of approximately 51,600 hectares and is located along the largest mineralized trend of the Domeyko fissure, which is home to numerous first-class porphyry copper deposits (z.B Chuquicamata, Collahuasi, El Abra and Quebrada Blanca). Although bordering on a large mineral belt, the Arcas project has so far had few modern explorations and remains in a preliminary phase of exploration. Calibre`s 100% gold-silver and gold copper NI 43-101 resources in the Cerro Aeropuerto Skarn and in primavera gold porphyry deposits. In addition, the company owns an additional 9,300 hectares of exploration concessions (called Quiltro, Lia and Timon concessions) that are close to the Arcas project and remain wholly owned by the company. The Lia, Quiltro and Timon spectral anomalies block the spectral anomalies of the host satellite (ASTER). The company believes that these concessions are highly forward-looking, as they are proximal to significant regional errors along this important copper productive trend.