NEWS RELEASE

Colibri Announces Closing of First Tranche of Its Non-Brokered Private Placement

February 13, 2025

NEWS RELEASE - Dieppe, NB., February 13, 2025 - Colibri Resource Corporation (TSX.V:CBI) (OTC:CRUCF) ("Colibri" or the "Company") is pleased to announce that, further to its news release of January 31, 2025, it has closed, subject to final TSX Venture Exchange (the "Exchange") acceptance, a first tranche of its previously announced non-brokered private placement of units (the "Offering") for aggregate gross proceeds of $140,400.


Colibri has issued 5,616,000 units ("Units") at a price of $0.025 per Unit. Each Unit is comprised of one (1) common share (a "Common Share") and one (1) common share purchase warrant ("Warrants") of the Company. Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of C$0.05 for a period of 24 months following issuance. No insiders participated in this tranche of the Offering.


The Common Shares and Warrants are subject to a statutory hold period expiring on the date that is four months and one day after closing. In connection with the closing of this tranche, the Company has agreed to pay a finder's fee of $1,500 and issued 60,000 finder's warrants (the "Finder's Warrants") to an arm's-length party. Each Finder's Warrant entitles the holder to acquire one Common Share of the Company at a price of C$0.05 for a period of 24 months following issuance. The finder's fee is subject to Exchange acceptance.


As disclosed in its news release of January 31, 2025, the proceeds of the Offering are expected to be applied as follows: approximately 20% for upcoming exploration expenses at Colibri's highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project, 65% for arm's length creditors including payment of interest expenses on outstanding loans and up to 15% to non-arm's length parties as reimbursement for expenses paid on behalf of the Company by the non-arm's length parties. No proceeds are being used for investor relations activities. The Company will be relying on appropriate exemptions from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") for payments to non-arm's length parties.


The Company anticipates completing a second tranche of the Offering within the next few weeks.


Final closing of the Offering (including any second tranche) is subject to acceptance of the TSX Venture Exchange.



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) 100% of the 4,766 hectare 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, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, 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, 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:


This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

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Colibri Intersects 7.5 m of 2.92 g/t Gold and 30 m of 0.73 g/t Gold from Surface in Maiden Drill Program at the Plomo Claims, EP Gold Project, Sonora, Mexico

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Colibri Resource Advances First-Pass Drill Program at San Perfecto and Priority Targets, EP Gold Project, Sonora, Mexico, Within a Region Hosting Projects Operated by Fresnillo Plc, Agnico Eagle, Osis

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Colibri Resource Reports Drilling Progress at the San Perfecto Target, EP Gold Project, Sonora, Mexico, Within a Region Hosting Projects Operated by Fresnillo Plc, Agnico Eagle, Osisko Development, Mi

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