[Marinir] {Disarmed} Calvista Reports Inferred Resource Estimate for its California Project

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http://www.calvistagold.com/ 

Calvista Reports Inferred Resource Estimate for its California Project 

Calvista Gold Corporation (TSX: CVZ 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=CVZ&region=C&lookup=symbol&snapshot=default 

) is pleased to announce the completion of a technical report and an 
initial mineral resource estimate for the Callejon Blanco and Buenavista 
prospects located along the same mineralized trend as the multi-million 
ounce Angostura gold deposit owned by Eco Oro Minerals, as well as La 
Mascota and La Bodega gold deposits owned by AUX Canada Acquisition Inc. 

The Company's Chief Executive Officer, Mr. Mark Haywood stated that, 
"the Company is very pleased with the results of our first phase of 
drilling to produce an estimated 510,087 ounce inferred gold resource at 
a 1 g/t gold cut-off grade within 12 months of our Initial Public 
Offering. A second phase of drilling is currently underway with results 
expected in Quarter 3, 2012." 

Highlights of the technical report: 

An inferred mineral resource estimate of 8.0 million tonnes grading 2.25 
grams per tonne ("g/t") of gold and 12.60 g/t of silver (approximately 
510,087 ounces of gold and 2,856,489 ounces of silver) using a cutoff 
grade of 1.0 g/t of gold;  

The Callejon Blanco and Buenavista targets remain open to expansion both 
along strike and at depth;  

The highest point of our inferred mineral resource occurs more than 500 
metres below the Paramo ecosystem elevation limit of 3,200 metres above 
sea level; and  

The technical report and inferred mineral resource estimate was 
completed by Vadim Galkine, Ph.D., P. Geo., and is based upon 38 diamond 
drill holes totalling 15,054 metres of core and wireframes surrounding 
the drill holes. 

The Callejon Blanco and Buenavista targets are considered to have the 
hallmarks of a porphyry Cu±Mo±Au style deposit, with gold hosted in a 
hydrothermal breccia near the surface, in an intrusive as disseminated 
mineralization, and also associated with corroded quartz veins and 
sometimes with sulphide mineralization. 

The Inferred Mineral Resource estimate is presented for various gold 
cut-off grades. Highlighted in red, in the Table below, is the cut-off 
grade considered to be the most appropriated for this target. The 
resources were estimated using a dry density of 2.4 g/cm3 and a minimum 
thickness of 1.5 metres. 

The mineral resources in the technical report were estimated using the 
Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Standards 
on Mineral Resources and Reserves, Definitions and Guidelines prepared 
by the CIM Standing Committee on Reserve Definitions. 

Mineral resources which are not mineral reserves do not have 
demonstrated economic viability. Confidence in a mineral resource 
estimate is insufficient to allow the meaningful application of 
technical and economic parameters or to enable an evaluation of economic 
viability worthy of public disclosure. The estimate of mineral resources 
may be materially affected by environmental, permitting, legal, title, 
taxation, sociopolitical, marketing, or other relevant issues. 

The quantity and grade of reported Inferred Resources in this estimation 
are uncertain in nature and there has been insufficient exploration to 
define these inferred resources as an indicated or measured mineral 
resource and it is uncertain if further exploration will result in 
upgrading them to an indicated or measured mineral resource category. 
Inferred Mineral Resources must be excluded from estimates forming the 
basis of feasibility or other economic studies. 

Mineral Resource Estimation Methodology 

Gold grade shells (or wireframes) were constructed by extrapolation of 
the shells to a limit of 50 metres beyond each drill hole to constrain 
the estimation. The processing and interpretations of the resource 
estimation were completed by an independent consultant, Eng Abdiel Diaz 
Carmona, Ph.D., in collaboration with the Company's Qualified Person, 
then tested and independently confirmed by Dr. Galkine. Block grade 
estimation was carried by Ordinary Kriging within the wireframes. The 
specific densities of the rock types were estimated at 2.4 g/cm3 and all 
samples were composited into a constant length of 1.5 metres. The block 
model cells size used was 25 x 25 x 10 metres, considered an appropriate 
volumetric representation for this style of mineralization. 

Calvista will file within 45 days a National Instrument 43-101 compliant 
technical report with the applicable securities regulatory authorities 
that supports the technical information contained herein, which will be 
available for viewing under the corporate profile of Calvista Gold 
Corporation at www.sedar.com 

http://www.sedar.com 

. 

Paramo Ecosystem 

The Paramo is an ecosystem generally above 3,200 metres elevation 
consisting of glacier-formed valleys and plains with lakes, peat bogs, 
and wet and dry grasslands intermingled with shrub lands and forest 
patches. Law 1382 of 2010 which amended the existing Mining Code 
excludes and prohibits mining and exploration activities in areas of 
Paramo ecosystem. All the company's mining licences are below the Paramo 
ecosystem limit and the Company has received certification to that 
extent from the Corporacion de Defensa de la Meseta de Bucaramanga, the 
local environmental authority of the Department of Santander, Colombia. 

Quality Control and Reports 

The Company has developed and implemented a Quality Assurance and 
Quality Control program ("QA&QC") to ensure sampling and analysis of all 
exploration work is conducted in accordance with the best possible 
practices. Calvista's exploration protocol includes the insertion of 
blanks, duplicates, standards, and external controls on all samples. 
Samples with assay results greater than 10 g/t Au are re-assayed by 
metallic screen analysis. Sample preparation for the technical report 
was conducted by SGS Colombia S.A. in Medellin, Colombia before being 
analyzed at a SGS certified assay laboratory in Lima, Peru. 

Qualified Persons 

Mr. Ricardo Valls, P. Geo., Calvista's VP Exploration, is the Company's 
designated Qualified Person for this press release within the meaning of 
National Instrument 43-101 Standards of Disclosure for Mineral Projects 
("NI 43- 101") and has reviewed and validated that the technical 
information contained in the release is accurate. Vadim Galkine, Ph.D., 
P. Geo., author of the technical report, acknowledges that he has read 
this press release and approves of its contents. 

About Calvista 

Calvista is a mineral exploration company focused on the acquisition, 
exploration and development of properties for the mining of gold and 
other minerals. All the Company's prospects in the California Valley are 
located below 3,200 metres and are not affected by the Paramo ecosystem 
law. With a head office in Toronto and Colombian headquarters in 
Bucaramanga, Calvista is led by a management team with over 50 years of 
exploration and mining experience, principally in South and Central 
America. For further details on the Company, please refer to Calvista's 
website ( www.calvistagold.com 

http://www.calvistagold.com 

) and Calvista's Canadian regulatory filings on SEDAR at www.sedar.com 

http://www.sedar.com 

. 

For further information please contact: 

Ruben Shiffman Executive Chairman 

Mark Haywood President & CEO 

Donald Christie CFO and Corporate Secretary 

Gary Anstey Investor Relations/Business Development 

Corporate office Suite 1500, 4 King West, Toronto, Ontario, Canada M5H 
1B6 

Telephone +1 416 504 4199 

Email info at calvistagold.com 

Web www.calvistagold.com 

http://www.calvistagold.com 

CAUTIONARY STATEMENT: This news release contains forward-looking 
information which is not comprised of historical facts. Forward-looking 
information involves risks, uncertainties and other factors that could 
cause actual events, results, performance, prospects and opportunities 
to differ materially from those expressed or implied by such 
forward-looking information. Forward looking information in this news 
release includes, but is not limited to, Calvista's objectives, goals or 
future plans, statements regarding exploration results, exploration 
plans and the timing of a potential resource estimate. Factors that 
could cause actual results to differ materially from such 
forward-looking information include, but are not limited to, 
uncertainties inherent to preparing a resource estimate within expected 
timeline, capital and operating costs varying significantly from 
estimates, the preliminary nature of metallurgical test results, delays 
in obtaining or failures to obtain required governmental, environmental 
or other project approvals, political risks, uncertainties relating to 
the availability and costs of financing needed in the future, changes in 
equity markets, inflation, changes in exchange rates, fluctuations in 
commodity prices, delays in the development of projects and the other 
risks involved in the mineral exploration and development industry, 
enhanced risks inherent to conducting business in a jurisdiction such as 
Colombia, and those risks set out in Calvista's public documents filed 
on SEDAR. Although Calvista believes that the assumptions and factors 
used in preparing the forward-looking information in this news release 
are reasonable, undue reliance should not be placed on such information, 
which only applies as of the date of this news release, and no assurance 
can be given that such events will occur in the disclosed time frames or 
at all. Calvista disclaims any intention or obligation to update or 
revise any forward-looking information, whether as a result of new 
information, future events or otherwise, other than as required by law. 

For more information about this service, please see: 
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