CIM Cagim Real Estate Corp

Calvista Gold Corporation (TSX:CVZ) ("Calvista" or the "Company") 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 cut- off
    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.


To view the table associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/Calvista0525.pdf. 


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.


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


CAUTIONARY STATEMENT: This press 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 press release includes, but is not limited to, Calvista's
objectives, goals or future plans, statements regarding exploration results and
exploration plans. 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, failure to increase
estimated mineral resources and failure to convert estimated mineral resources
to reserves, 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.

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