Thursday, February 27, 2020

Colibri Announces That Maiden Drilling Has Started At Evelyn Gold Project

NEWS RELEASE – Dieppe, NB. February 27th, 2020. (CBI-TSXV) Colibri Resource Corporation (“Colibri” or the “Company”) is pleased to announce that Major Drilling has starting drilling the maiden drill program at Colibri’s Evelyn Gold Project located 60 km NW of Caborca Mexico.

The initial 5-hole diamond drilling program will focus on testing two areas recommended by Aurometallum Geology Consulting Services and Colibri geologists in late 2019 as a result of their geological, geochemical, and structural mapping study at Evelyn. The two mineralized corridors of strong initial interest have been named “Cerro Rojo” and “El Sahuaro” (See CBI news release dated: December 3rd, 2019).

The drilling program should take approximately 3 weeks to complete with assay results to be subsequently disclosed in due course.

The “Caborca Gold Belt” hosts many gold mines and deposits including La Herradura, Mexico’s largest gold mine which produced 474,168 ounces of gold in 2018 at an average grade of 0.80 g/t Au (25km west of Evelyn) and Noche Buena mine which produced 167,208 oz Au at an average grade of 0.52 g/t Au in 2018 (9km south west of Evelyn). (www.fresnilloplc.com)

Rig Preparation for Hole #1

Qualified Person and NI 43-101 Disclosure

Jackie E. Stephens, P. Geo for Colibri, is the Qualified Person, (as defined in NI 43-101), who has reviewed and approved the technical information in this press release.

About Colibri Resource Corporation:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration.

For more information about all of our projects please visit: www.colibriresource.com.

We seek safe harbour.

For further information: Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.