NEWS RELEASE

Colibri and Partner - Core Drilling Discovers High Grade Gold Mineralization 300 metres East of Main Zone – Returning 21.6 g/t Gold and 209 g/t Silver Over 3.0 metres at the El Pilar Project

March 26, 2025

NEWS RELEASE - Dieppe, NB., March 26th, 2025 - Colibri Resource Corporation (TSX.V:CBI) (OTC:CRUCF) ("Colibri" or the "Company") is pleased to share the assay results from the next three holes drilled in its recent 10 hole diamond drilling program (1,167.5 metres) at the El Pilar Gold & Silver Project in Sonora Mexico. Colibri holds 49% interest of the El Pilar along side its partner Tocvan Ventures, which holds 51% ownership in this advanced stage exploration project. Tocvan is the operator of the El Pilar. The final three holes from the program will be announced in due course upon receipt of data from the operator. 

 

“We are pleased to have discovered high grade gold and silver mineralization along the largely untested North Hill Trend, which lies approximately 300 metres away from the Main Zone Trend. The reported 3.0 metre interval of 21.6 g/t gold, 209 g/t silver, 6.71% lead, and 1.58% zinc (starting 8.3m below surface) among other notable gold and silver intervals in hole JES-25-108 provides further substantial evidence that the gold and silver mineralization at the shared El Pilar project could be expanded significantly and create even more meaningful value for our respective shareholders. We will work with our partners to further evaluate this discovery and potentially add material from this area to our planned 50,000 tonne test mine/bulk sample.” commented, Colibri President & CEO Ian McGavney


Tocvan - News Release – March 26th, 2025


Highlights:

  • New Discovery of High-Grade Gold-Silver 300m East of Main Zone, On North Hill Trend
  • Highest Grade Interval Ever Outside of Main Zone
  • Near Surface Findings Ideal for Follow-up Trenching and Early Mine Development
  • 1.2 g/t Au and 14 g/t Ag over 64.9 meters, from surface (Hole JES-25-108)
  • including 21.6 g/t Au and 209 g/t Ag over 3.0 meters, from 8.3 meters depth
  • and 2.8 g/t Au and 38 g/t Ag over 3.8 meters, from 49.7 meters depth
  • Also, East Expansion of Main Zone with Hole JES-25-107
  • 0.2 g/t Au and 5 g/t Ag over 108.2 meters, from surface
  • Including 0.4 g/t Au and 9 g/t Ag over 56.4 meters
  • Including 0.9 g/t Au and 20 g/t Ag over 12.6 meters
  • And 0.5 g/t Au and 8 g/t Ag over 7.4 meters
  • Also, 0.6 g/t Au and 7 g/t Ag over 4.3 meters
  • Results Pending for Three Additional Holes


March 26, 2025 / Tocvan Ventures Corp. (the "Company") is pleased to announce results from the latest core drilling at the Gran Pilar Gold Silver Project in mine-friendly Sonora, Mexico. Ten core drillholes totalling 1,167.5 meters were completed earlier this year within the majority owned (51%) Main Zone held in partnership with Colibri Resource Corp. Today's results are highlighted by 21.6 g/t Au, 209 g/t Ag and 6.7% Pb over 3.0 meters, also 2.8 g/t Au, 38 g/t Ag and 2.3% Zn over 3.8 meters within a broader anomalous zone averaging 1.2 g/t Au starting from surface to a vertical depth of 64.9 meters (JES-25-108). The significance of this hole is its location 300 meters east of the Main Zone Trend in line with the North Hill Trend, making it the first discovery of high-grade gold mineralization along the southern end of this corridor. The high-grade looks to be hosted within a highly fractured near-surface fault zone with associated quartz veining. Given the proximity to surface this area will be selected for future trenching to further evaluate the extent of high-grade mineralization for potential pilot mine feed. In addition, hole JES-25-107, 100 meters east of the Main Zone has returned the best values to date on the eastern flank of the Main Zone. The hole returned 108.2 meters of 0.2 g/t Au and 5 g/t Ag from surface, including 12.6 meters of 0.9 g/t Au, 20 g/t Ag and 0.5% Cu; 7.4 meters of 0.5 g/t Au and 8 g/t Ag; and 4.3 meters of 0.6 g/t Au and 7 g/t Ag. Mineralization is hosted within a silicified brecciated andesite with coarse veins of pyrite and chalcopyrite. Hole JES-25-109 only returned a few isolated zones mineralization, core logging shows the hole intersected a large fault zone that separates mineralization hit in past drilling (JES-22-53, and JES-24-79). Results for seven core drillholes have now been released, results are pending for the remaining three holes which have tested the outer extents on mineralization.


"Core drilling has just returned the highest-grade interval ever outside of the Main Zone, located 300 meters away on an emerging trend." commented, CEO Brodie Sutherland. "The best part is that it is only meters below the surface allowing us to easily access the area with trenching we have planned in the next phase of exploration. This provides us with another area to source mineralization for potential pilot mine material. Trends like the North Hill remain largely untested and suggest other areas across the broader expansion area hold significant potential for hosting high-grade gold and silver. We look forward to continued drilling across the expansion area to begin targeting additional resource potential."

Figure 1: Planview of Main Zone Area (modified from today’s Tocvan release to highlight JV area) – today’s results in red boxes.
Figure 2. 3D surface of the shared El Pilar (modified from today’s Tocvan release to highlight JV area). Drill results announced today are in red boxes. Note: Hole JES-24-101 is located on Tocvan property and illustrates potential for continuity to border of the zone on the joint venture ground.
Table 1. Summary of Drill Results in today's release. Intervals reported are drilled lengths, the Company will update on estimated true thickness once all new drill data has been processed.
Photo 1. Type samples of brecciated andesite with sulphide rich vein stockwork (JES-25-107, 51m to 64m downhole, averaging 0.9 g/t Au and 20 g/t Ag).
Table 2. Summary of drill collar locations and orientations. Coordinates are in UTM NAD 27, Zone 12N

Pilar Drill Highlights:


2024 RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
  • 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au 
  • 16.8m @ 0.8 g/t Au and 19 g/t Ag


2022 phase 3 diamond drilling highlights include (all lengths are drilled thicknesses):

  • 116.9 metres of 1.2 grams per tonne gold, including 10.2 m of 12 g/t Au and 23 g/t Ag;
  • 108.9 m of 0.8 g/t Au, including 9.4 m of 7.6 g/t Au and 5 g/t Ag;
  • 63.4 m of 0.6 g/t Au and 11 g/t Ag, including 29.9 m of 0.9 g/t Au and 18 g/t Ag;


2021 phase 2 RC drilling highlights include (all lengths are drilled thicknesses):

  • 39.7 m of 1.0 g/t Au, including 1.5 m of 14.6 g/t Au;
  • 47.7 m of 0.7 g/t Au, including three m of 5.6 g/t Au and 22 g/t Ag;
  • 29 m of 0.7 g/t Au;
  • 35.1 m of 0.7 g/t Au;


2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses):

  • 94.6 m of 1.6 g/t Au, including 9.2 m of 10.8 g/t Au and 38 g/t Ag;
  • 41.2 m of 1.1 g/t Au, including 3.1 m of 6.0 g/t Au and 12 g/t Ag;
  • 24.4 m of 2.5 g/t Au and 73 g/t Ag, including 1.5 m of 33.4 g/t Au and 1,090 g/t Ag;


15,000 m of historic core and RC drilling; highlights include:

  • 61.0 m of 0.8 g/t Au;
  • 21.0 m of 38.3 g/t Au and 38 g/t Ag;
  • 13.0 m of 9.6 g/t Au;
  • 9.0 m of 10.2 g/t Au and 46 g/t Ag.


Pilar Bulk Sample Summary:

62-per-cent recovery of gold achieved over 46-day leaching period;

Head grade calculated at 1.9 g/t Au and seven g/t Ag; extracted grade calculated at 1.2 g/t Au and 3 g/t Ag;

Bulk sample only included coarse fraction of material;

Fine fraction indicates rapid recovery with agitated leach:

Agitated bottle roll test returned rapid and high recovery results: 80-per-cent recovery of gold and 94-per-cent recovery of silver after rapid 24-hour retention time.


Additional Metallurgical Studies:

Gravity recovery with agitated leach results of five composite samples returned:

95- to 99-per-cent recovery of gold;

73- to 97-per-cent recovery of silver;

Includes the recovery of 99 per cent Au and 73 per cent Ag from drill core composite at 120-metre depth.


Based on management’s strong belief in the project’s potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023, news release for more details).



Quality Assurance / Quality Control 

Rock and Drill samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.


Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.


About Colibri Resource Corporation:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, 2) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico’s second largest major producer of gold on four sides, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.


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


For information contact:


Ian McGavney

President

CEO and Director


Tel: (506) 383-4274

Email: ianmcgavney@colibriresource.com



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Notice Regarding Forward-Looking Statements:


No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward- looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Share This.

Related news releases.

October 6, 2025
NEWS RELEASE - DIEPPE, N.B., October 6, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to announce that it intends to conduct two non-brokered private placements as follows: An equity offering (the “Equity Offering”) of up to 8,666,666 units (the “Units”) at a price of $0.15 for gross proceeds of up to $1,300,000. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the Warrants ). Each Warrant will entitle the holder to acquire one common share (a “Common Share”) of the Company at a price of C$0.25 per Common Share for a period of 24 months. It is anticipated at this time that, of the gross proceeds, approximately $300,000 will be from former debenture holders of the Company whose instruments came due during August 2025 and will not represent new money to the Company. See the Company’s news release of August 6, 2025. The Company is also intending to conduct a non-brokered private placement of up to 250 convertible debenture units (the “Debenture Units”) for gross proceeds of up to US$250,000 (the “Debenture Offering”). Each Debenture Unit consists of one (1) US$1,000 principal amount 10% unsecured convertible debenture (the “Debenture”) and 5,300 Warrants. Each Debenture will bear interest at 10% per annum, calculated in US dollars, from the date of issuance, payable in arrears quarterly and upon maturity or redemption. The Debentures will mature on the date that is two (2) years from the date of issuance (the "Maturity Date"). The Debentures are convertible into Common Shares, at the holder's option, at a price C$0.25 per Common Share (the "Conversion Price") at any time prior to the Maturity Date. For purposes of the Conversion Price, the Debentures carry a fixed foreign exchange rate of C$1.30 for each US$1 of principal. All interest accrued on the Debentures will be payable in cash only and there can be no conversion of the Debenture interest into Common Shares of the Company. Each Warrant will entitle the holder to acquire one Common Share at a price of C$0.25 per Common Share for a period of 24 months following the closing of the offering. A significant portion of the offerings are expected to be acquired by former debenture holders whose loans matured in August 2025 (see the Company’s news release dated August 6, 2025). This will significantly strengthen the Company’s capital structure by converting outstanding obligations into equity-linked securities although this will not represent new money to the Company. Closing of the foregoing offerings is subject to the acceptance of the TSX Venture Exchange (the “Exchange”). Common Shares issuable will be subject to a statutory hold period expiring on the date that is four months and one day after Closing. The Company anticipates that it may pay certain finder’s fees as per the guidelines of the Exchange. The Offering will be conducted by the Company primarily under the "accredited investor" exemption of National Instrument 45-106 –– Prospectus and Registration Exemptions but may use other exemptions if appropriate. Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement will constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). The Company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, is expected to exceed 25% of the Company's market capitalization. Net proceeds will fund exploration at Colibri’s flagship Mexican gold projects, including Pilar and EP, and for general working capital. “ This financing provides us with the resources to advance key exploration initiatives at Pilar and EP while also strengthening our balance sheet. We view this as a significant step forward that enables us to deliver on important near-term objectives and continue positioning Colibri for growth ,” said Ian McGavney, President & CEO of Colibri. For further details of the Offering, please contact Ian McGavney, President & CEO of the Company at (506) 383-4274 or ianmcgavney@colibriresource.com .  The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
September 16, 2025
NEWS RELEASE - DIEPPE, N.B., September 16, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to provide a corporate update, outlining near-term initiatives to advance its 100%-owned EP Gold Project and highlight the significant potential of its 49% interest in the advanced Pilar Gold-Silver Project in Sonora, Mexico. Positioned for Growth in a Strong Precious Metals Market With gold and silver trading near historic highs, Colibri is actively advancing initiatives designed to increase shareholder value. The Company is pursuing a staged growth strategy focused on: Advancing exploration at EP Gold, Supporting development of Pilar, and Strengthening market visibility and corporate positioning. EP Gold Project – District-Scale Potential in the Heart of the Caborca Belt Colibri’s 100%-owned EP Gold Project (Evelyn/Plomo) covers 4,766 hectares in the Caborca Gold Belt of Sonora, Mexico — one of the country’s most prolific mining districts. The Project is strategically located within 25 kilometres of some of Fresnillo Plc’s most significant gold operations, including the producing La Herradura Mine and Noche Buena Mine, as well as the Tajitos deposit (which is reportedly undergoing an updated Preliminary Economic Assessment).
August 19, 2025
NEWS RELEASE - DIEPPE, N.B., August 19, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) congratulates its joint venture partner, Tocvan Ventures Corp. (“Tocvan”), on receiving permit approval for a 50,000-tonne pilot mine facility in Sonora, Mexico (announced August 14, 2025). Located in close proximity to the Pilar Gold & Silver Project (“Pilar”), a 49% Colibri – 51% Tocvan joint venture, the facility presents an excellent opportunity to consider processing a bulk sample at a time when gold prices remain near record highs. The permitted facility will be located in very close proximity to the “Pilar Gold & Silver Project “(“Pilar”), a 49% Colibri – 51% Tocvan joint venture. Although no plans have been finalized regarding the use of the facility for Pilar material, its location and scale present a highly compelling opportunity for the partners to consider processing a bulk sample from Pilar in an efficient, cost-effective manner. Pilar is particularly well suited for this purpose: a 1,400‑tonne bulk sample completed in 2023 returned an average head grade of 1.9 g/t Au with recoveries of approximately 62% using simple heap leach methods. Combined with extensive drilling and surface work, sufficient material could be sourced quickly—making Pilar an immediately available, high‑quality feed source for the newly permitted facility at a time when gold prices remain near historical highs. “With a permitted processing facility now secured nearby, Pilar stands out as a ready and logical candidate for a larger bulk sample program,” said Ian McGavney, President & CEO of Colibri. “With a prior bulk sample already delivering an average grade of 1.9 g/t Au and demonstrating recoveries above 60%, and with significant amounts of mineralized material already identified to move quickly, Pilar is clearly positioned for near-term evaluation. Advancing Pilar in this way would be highly advantageous to both Colibri and Tocvan shareholders, particularly with gold trading near all-time highs.” Previously Released Drill Highlights at Pilar (Colibri/Tocvan JV licenses): 2025 Diamond Drilling (all lengths are drilled thicknesses): 83.5 m at 1.3 g/t Au from surface, including 10.3 g/t over 9.7 m 64.9 m at 1.2 g/t Au, including 3.0 m at 21.6 g/t Au and 209 g/t Ag — first high-grade intercept along the North Hill trend 116.9 m at 1.2 g/t Au, including 10.2 m at 12.0 g/t Au and 23 g/t Ag 2024 RC Drilling (all lengths are drilled thicknesses): 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au 16.8m @ 0.8 g/t Au and 19 g/t Ag 2022 Phase III Diamond Drilling (all lengths are drilled thicknesses): 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag 63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag 2021 Phase II RC Drilling (all lengths are drilled thicknesses): 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag 29m @ 0.7 g/t Au 35.1m @ 0.7 g/t Au 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses): 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag; 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ; 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag 15,000m of Historic Core & RC drilling (all lengths are drilled thicknesses): 61.0m @ 0.8 g/t Au 21.0m @ 38.3 g/t Au and 38 g/t Ag 13.0m @ 9.6 g/t Au 9.0m @ 10.2 g/t Au and 46 g/t Ag Pilar Bulk Sample Summary : 62% Recovery of Gold Achieved Over 46-day Leaching Period Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag Bulk Sample Only Included Coarse Fraction of Material (+3/4” to +1/8”) Fine Fraction (-1/8”) Indicates Rapid Recovery with Agitated Leach Agitated Bottle Roll Test Returned Rapid and High Recovery Results : 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time Additional Metallurgical Studies: Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned 95 to 99% Recovery of Gold 73 to 97% Recovery of Silver Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth
ALL NEWS RELEASES