Colibri Resource Corporation - News Releases - CORRECTION FROM SOURCE-Colibri Resource Corp.: Percussion Drilling

August 27, 2008
CORRECTION FROM SOURCE-Colibri Resource Corp.: Percussion Drilling

VANCOUVER, August 27 - A correction from source is issued with respect to the release issued Monday at 9:35 am ET. In the headline, rhenium concentrations of up to 2,530 ppb were intersected, not 2,830 ppb. This is also corrected in the accompanying text and table. Also, drill holes LEPD 84 and LEPD85 dip at -60°, not the -45° shown in the table.

The correct release follows:

Colibri percussion drilling confirms and expands high grade molybdenum on Leon Project, core check assays show rhenium concentrations up to 2,530 ppb intersected over 2.0 m.

VANCOUVER, August 25 /CNW/ -Colibri Resource Corporation is pleased to report results of new percussion drilling and analyses of rhenium from core samples previously reported on the Leon Project, Sonora, Mexico.

Azul Zone Drill Highlights:
Core results for the Azul Zone were previously reported (June 11, 2008) for LEDH18 (72 meters of 0.195 % Mo between 22 and 94 m) and LEDH17 (72 meters of 0.120 % Mo between 0 and 72m). Ten percussion drill holes have extended known mineralization to greater than 250 meters in strike length and a minimum width of 120 meters. Mineralization is open along strike to the east and west and down dip to a known depth of at least 130 m. Multiple stages of mineralization are observed in drill core including high grade Mo-bearing quartz veins and stockwork. Correlations between high grade intervals in core and percussion drilling suggest a near east-west trend and dominantly steeply north-dipping orientation.

Percussion drill holes LEPD84 and LEPD85 were collared 40 meters to the west of core holes LEDH17 and 18. LEPD85 intersected 15m of 0.183% Mo between 15 and 30m, including 3m of 0.56% Mo between 15 and 18 meters depth. This hole ended at 30m depth in 0.280% Mo, 0.228% Cu. LEPD84 intersected 0.03% Mo over 18m between 7.5 and 25.5m, ending in 0.037% Mo.

Percussion holes LEPD87 and LEPD88 were collared 54 meters east of core holes LEDH17 and 18. LEPD87, directed due north at -45 degrees, averaged 0.12% Mo over its entire 39 meter length, including 3 meters of 0.66% Mo between 16.5 and 19.5 meters depth, ending in 0.033% Mo. LEPD88, directed at azimuth 135 degrees at -45 degrees, averaged 0.203% Mo between 0 and 33 meters depth including 4.5 meters of 0.659% Mo between 22.0 and 27.0 meters.

LEPD89, collared 102 meters east of core holes LEDH17 and 18, intersected disseminated Mo averaging 0.065% over the entire 42 meter length of hole, including 0.091% Mo between 15 and 42 meters. LEPD90, collared 142m east of LEDH17 and 18, averaged 0.051% Mo between surface and 22.5m, including 3m of 0.191% Mo between 13.5 and 16.5 meters. LEPD 91, collared 126 meters southeast of LEDH17 and 18, cut 25.5 m of 0.078% Mo between 16.5 and 42m, ending in 0.085% Mo and including 1.5m of 0.24% Mo, 0.093% Cu between 24 and 25.5m.

Fortuna Zone Drill Highlights:
The Fortuna Zone, a historic underground mine working along a moderately south-dipping structure, was previously tested by core hole LEDH19. Nine percussion drill holes on the footwall of the Fortuna Zone expanded the known extent of mineralization 150 meters to the northeast. LEPD77 cut 1.5 meters of 0.242% Mo between 1.5 and 3.0 m depth. LEPD81 cut 7.5 meters of 0.133% Mo between 6 and 13.5 meters, and LEPD83 averaged 0.022% Mo over 30 meters, the entire length of the hole. LEPD78 ended in 1.5 m of 0.177% Mo between 28.5 and 30.0 meters.

Rhenium Analyses:
Rhenium check analyses of core from LEDH-16, LEDH-17 and LEDH-18 were performed by Activation Laboratories Ltd. Ancaster Ontario utilizing a 56 element ICP-MS scan with a detection limit of 1 ppb Re.

Selected 2.0 m intervals of high grade Mo-bearing quartz veins and stockwork from Azul Zone core holes LEDH16, LEDH-17 and LEDH-18 were submitted for rhenium analysis. 21 of these samples returned assays greater than 200 ppb Re, with 4 samples greater than 800 ppb Re along core lengths of 2.0 m. Core hole LEDH18 yielded the two highest rhenium intervals: 2,530 ppb Re (2.53 ppm) between 26.0 and 28.0m, and 1,500 ppb Re (1.5 ppm) from 38.0 to 40.0m depth.

Exploration Notes:
All 19 percussion holes ended in anomalous Mo, greater than 35 ppm, LEPD85 ending in 0.280% Mo, LEPD78 in 0.177% Mo.

Less than half of the gridded surface area with soil samples containing greater than 500 ppm copper and 50 ppm molybdenum, (and ancillary anomalous gold and silver), has been targeted by drilling. Much of the remainder of the project area remains unmapped and unsampled, and further work is in progress.

The lithologies and style of mineralization cut by drill core resemble those of the Creston molybdenum deposit located 3.5 kilometers to the northeast of hole LEDH19 (see www.crestonmoly.com). The Leon Project is believed to contain part of the same porphyry system, displaced along a network of low-angle normal faults (see www.colibriresource.com). The Leon Project is held by an option agreement between the Mexican subsidiary of Colibri, Minera Halcones SA de CV and a private Mexican company to acquire 100% ownership of 5,800 hectares of mineral concessions. The Project is located near the center of the State of Sonora, Mexico, at an altitude of approximately 1000 meters above sea level, accessed by gravel roads in an area of moderate topographic relief and logistics favorable for mine exploration and development.

NQ-sized diamond drill core samples were provided by Landdrill International SA de CV. Core samples were cut in half with one portion submitted for assay and the remainder retained as reference.

Percussion drilling was conducted from a track mounted vehicle using a surface air driven hammer with a 2.25 inch wide bit and associated compressor. Samples are typically 5 kg of rock chips over 1.5 m intervals. Samples were split on site and delivered to Sonora Sample Preparation Lab in Hermosillo, Sonora, and analyzed using standard ICP by International Plasma Labs in Vancouver, British Columbia.

Exploration was conducted under the supervision of J.J. Irwin, B.Sc., Ph.D., the qualified person under National Instrument 43-101 on this project.

For further information

Visit our website at www.colibriresource.com or call Lance Geselbracht, P.E., (250) 755-7871

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Core Drilling Results - Azul and Fortuna Zones**

Location	Hole	From	To	Interval	Mo %	Cu %	Rhenium PPB
Azul	LEDH15	0m	290.2m EOH	290.2m	0.025%	0.047%	NA++
	includes	18.6m	56m	37.4m	0.051%	0.036%	NA++
		158m	189m	31m	0.041%	0.091%	NA++
		240.55m	251.35m	10.8m	0.121%	0.116%	NA++

Azul	LEDH16	0	268m EOH	268m	0.052%	<100ppm	--
		90m	250m	160m	0.066%	0.015%	59 ppb Re
		152m	201m	49m	0.093%	<100ppm	97 ppb Re

		146.0m	268.0m	122.0m	0.076%	<100ppm	66 ppb Re
		152.0m	156.3m	4.3m	0.418%	<100ppm	585 ppb Re
		154.3m	156.3m	2.0m	0.640%	<100ppm	952 ppb Re
		216.4m	220.0m	3.6m	0.415%	0.030%	421 ppb Re

Azul	LEDH17	0	145m EOH	145m	0.062%	<100ppm	69 ppb Re
		0	72m	72m	0.120%		--
		23	72m	49m	0.165%		--

		23.2m	72.0m	48.8m	0.159%	<100ppm	176 ppb Re
		23.2m	25.0m	1.8m	1.012%	<100ppm	1110 ppb Re
		36.0m	38.0m	2.0m	0.841%	113ppm	868 ppb Re

Azul	LEDH18	0	211.0m EOH	211m	0.0818%	<100pm	--
		2.02m	157.0m	135m	0.119%	146ppm	--
		22.0m	126.0m	104m	0.154%	139ppm	149 ppb Re
		22.0m	94.0m	72m	0.180%	166ppm	189 ppb
		26.0m	28.0m	2m	2.25%	<100pm	2530 ppb Re
		38.0	40.0	2m	1.68%	106ppm	1500 ppb Re

Fortuna	LEDH19	0	89m EOH	89m	0.021%	0.015%	NA++
		16m	38m	22m	0.054%	0.061%
		36m	38m	2m	0.243%	0.077%

Fortuna	LEDH20	0	88m EOH	88m	<100ppm	0.020%	NA++

Hole	UTM East	UTM North	Azimuth	Dip	Length
LEDH-15	528270 E	3306376 N	000	-- 50º	290m
LEDH-16	527935 E	3305997 N	180	-- 50º	268m
LEDH-17	528138 E	3305560 N	000	-- 50º	145m
LEDH-18	528146 E	3305556 N	135	-- 50º	211m
LEDH-19	529495 E	3305165 N	045	-- 70º	89m
LEDH-20	529468 E	3305226 N	000	-- 90º	88m

Percussion Drilling Results -- Azul Zone**

Location	Hole	from	to	Interval	Mo %	Cu %	Comments
Azul	LEPD84	7.5m	25.5m	18.0m	0.029%	0.032%
		34.5m	39.0m	4.5m	0.037%	<100ppm	Hole ends in 0.037% Mo

Azul	LEPD85	15.0m	30.0m	15.0m	0.183%	0.45%	Hole ends in 0.28% Mo
	includes	15.0m	18.0m	3.0m	0.564%	0.025%

Azul	LEPD86	0	16.5m	16.5m	0.102%	0.051%	Hole ends in 0.065% Mo

Azul	LEPD87	0	39.0m	39.0m	0.122%	<100pm	Hole ends in 0.033% Mo
	includes	16.5m	19.5m	3.0m	0.664%	<100pm

Azul	LEPD88	0	33.0m	33.0m	0.203%	0.051%
	includes	13.5m	31.5m	18.0m	0.345%	0.044%
		22.5m	27.0m	4.5m	0.659%	0.022%

Azul	LEPD89	0	42.0m	42.0m	0.065%	0.023%	Hole ends in 0.047% Mo
	includes	15.0m	42.0m	27.0m	0.091%	0.020%
		33.0m	37.5m	22m	0.158%	0.020%

Azul	LEPD90	0	22.5m	22.5m	0.051%	0.027%	Hole ends in 0.016% Mo
	includes	13.5m	16.5m	3.0m	0.191%	0.010%

Azul	LEPD91	0	42.0m	42.0m	0.055%	0.035%	Hole ends in 0.085% Mo
	includes	16.5m	42.0m	25.5m	0.078%	0.036%
		24.0m	25.5m	1.5m	0.241%	0.093%
Azul	LEPD92	0	24.0m	24.0m	0.025%	0.049%	Hole ends in 0.014% Mo

Azul	LEPD93	0	21.0m	21.0m	0.025%	0.033%

Hole	UTM East	UTM North	Azimuth	Dip	Length
LEPD-84	528102	3305578	000	-- 60º	39m
LEPD-85	528102	3305578	135	-- 60º	30m
LEPD-86	528190	3305544	000	-- 45º	16.5m
LEPD-87	528190	3305544	000	-- 45º	39m
LEPD-88	528190	3305544	135	-- 45º	42m
LEPD-89	528245	3305535	000	-- 45º	42m
LEPD-90	528286	3305533	000	-- 45º	42m
LEPD-91	528257	3305497	000	-- 45º	42m
LEPD-92	528300	3305476	000	-- 45º	24m
LEPD-93	528335	3305467	000	-- 45º	21m

Percussion Drilling Results -- Fortuna Zone**

Location	Hole	from	to	Interval	Mo %	Cu %	Comments
Fortuna	LEPD75	3.0m	18.0m	15.0m	0.042%	0.021%
	includes	3.0m	4.5m	1.5m	0.204%	<100ppm

Fortuna	LEPD76	0	6.0m	6.05m	0.020%	0.039%

Fortuna	LEPD77	0	7.5m	7.5m	0.074%	0.110%
	includes	1.5m	3.0m	1.5m	0.242%	0.250%

Fortuna	LEPD78	28.5m	30.0m	1.50m	0.177%	100ppm	Hole ends in 0.177% Mo

Fortuna	LEPD79	0	1.5m	1.5m	0.021%	0.018%

Fortuna	LEPD80	16.5m	21.0m	4.5m	0.0190%	0.013%

Fortuna	LEPD81	6.0m	13.5m	7.5m	0.133%	0.036%
	includes	6.0m	10.5m	4.5m	0.194%	0.042%
		33.0m	36.6m	3.0m	0.039%	<100ppm

Fortuna	LEPD82	31.5m	37.5m	7.5m	0.019%	<100ppm

Fortuna	LEPD83	0	30.0m	30.0m	0.022%	0.020%

Hole	UTM East	UTM North	Azimuth	Dip	Length
LEPD-75	529550	3305161	020	-- 45º	30.0m
LEPD-76	529560	3305197	020	--45º	30.0m
LEPD-77	529568	3305201	020	-- 45º	34.5m
LEPD-78	529565	3305220	020	-- 45º	30.0m
LEPD-79	529576	3305252	020	-- 45º	36.0m
LEPD-80	529588	3305278	020	-- 45º	21.0m
LEPD-81	529613	3305269	020	-- 45º	36.0m
LEPD-82	529616	3305286	020	-- 45º	39.0m
LEPD-83	529644	3305255	020	-- 45º	30.0m

** - Analytical Methods

Molybdenum and Copper analyses determined by 30 element regular ICP scan with Multi-Acid digestion. IPL-International Plasma Labs, Richmond BC. Detection limit for Mo and Cu -- 1.0 ppm.
Rhenium analyses determined by 56 element ICP_MS scan with Multi-Acid digestion. Activation Laboratories Ltd. Ancaster, Ontario. Detection Limit of 1.0 ppb Re.

++ - NA -- Drill hole samples not analyzed for Rhenium

-- Additional Rhenium results not included

You can view the Next News Releases item: Wed Nov 12, 2008, Colibri Intersects Disseminated Gold Mineralization in Reverse Circulation and Percussion Drilling on the Colibri Project, Sonora, Mexico

You can view the Previous News Releases item: Mon Aug 25, 2008, Colibri percussion drilling confirms and expands high grade molybdenum on Leon Project, core check assays show rhenium concentrations up to 2,830 ppb intersected over 2.0 m.

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