Calvista Gold Corp. Announces Filing of Updated Technical Report and Resource Estimate

TORONTO, Oct. 11, 2012 - Calvista Gold Corporation (TSX:CVZ) (OTCQX:CAGOF) ("Calvista" or the "Company") is pleased to announce that a National Instrument 43-101 technical report dated October 11th, 2012 entitled "Updated Technical Report on the California Gold Project, California, Santander Department, Republic of Colombia" completed by an independent expert has been filed on SEDAR (www.sedar.com) and is also available on the Company's website at www.calvistagold.com.


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 our 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 Calvista, please refer to our web site (www.calvistagold.com) and Calvista's Canadian regulatory filings on SEDAR at www.sedar.com.


CAUTIONARY STATEMENT:

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.



Contact

Calvista Gold Corporation
Ruben Shiffman, Executive Chairman
+1 416 504 4199

Calvista Gold Corporation
Mark Haywood, President & CEO
+1 416 504 4199

Calvista Gold Corporation
Donald Christie, CFO and Corporate Secretary
+1 416 504 4199

Calvista Gold Corporation
Gary Anstey, Investor Relations/Business Development

Calvista Gold Corporation
Ricardo Valls, VP Exploration

Calvista Gold Corporation
Corporate office
Suite 1500, 4 King West, Toronto, Ontario, Canada M5H 1B6
info@calvistagold.com
www.calvistagold.com