NEWS RELEASE

Colibri Announces Closing of First Tranche of Its Non-Brokered Private Placement and Sale of Its RC Drill Rig

September 6, 2024

Dieppe, New Brunswick--(Newsfile Corp. - September 6, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that, further to its news release of August 23, 2024, it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") of units ("Units") for aggregate gross proceeds of $305,500. Each Unit consists of one (1) common share (a "Common Share") and one (1) common share purchase warrant (the Warrants) of the Company. Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of C$0.075 for a period of 24 months following issuance.


Certain insiders of the Company have acquired an aggregate of 550,000 Units in the Offering for gross proceeds of $27,500. Participation by insiders in the private placement constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. This participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, exceeds 25% of the Company's market capitalization.


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.


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


The Offering, including the terms of the Offering, received the conditional approval of the Exchange prior to closing but is subject to the final approval of the Exchange. The net proceeds of the offering will be used for exploration expenses at the Company's highly prospective precious metals projects in Mexico, including the Pilar gold project and the EP gold project as well as for working capital.


The Company also wishes to announce that it has sold its RC Drill Rig to a private company in Hermosillo Mexico for a total consideration of USD $395,000 which consisted of cash and drill credits. A portion of the proceeds is expected to be applied to an upcoming drilling program at the EP Gold Project where the Company intends to complete its first drilling program at the high priority San Perfecto target.


The San Perfecto target area is characterized by variably to strongly altered volcanic and intrusive rocks and has a mineralized footprint of approximately 1,250m by 700m which remains open to the southeast. A total of 616 samples are reported from the San Perfecto target surface area (102 by Colibri and 514 historical) of which 315, approximately 50 per cent, have returned values greater than 0.10 g/t Au and 213, approximately 35 per cent, have returned assay values greater than 0.25 g/t Au. Ninety-one samples (approximately 15 per cent of the total) have returned Au assays greater than 1.00 g/t with the highest grades, up to 58.9 g/t Au being associated with strong silicification and veins in faults zones.


A number of historical (artisanal) pits have been developed in the San Perfecto area including a larger production pit with a surface opening approximately of 35 m by 30 m. Only two exploration holes have been historically drilled in the area and both intersected significant mineralization.


Supported by interpretation of magnetic and IP data sets, the Company has interpreted the San Perfecto area as being indicative of a well-developed, high-level orogenic gold system with the potential to host economically significant mineralization.

QUALIFIED PERSON

Jamie Lavigne, P. Geo and a Director for Colibri is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.


The securities of the Company in this Offering 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.


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 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.


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 forwardlooking 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.


For information contact:

Ian McGavney

President, CEO and Director

Tel: (506) 383-4274

Email: ianmcgavney@colibriresource.com

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Colibri Congratulates JV Partner on Test Mine Permit; Pilar Positioned as Near-Term Bulk Sample Opportunity

August 19, 2025
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Colibri Resource Corporation Announces Director Change

August 18, 2025
NEWS RELEASE - DIEPPE, N.B., August 18, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) today announces that Jamie Lavigne, P. Geo, has resigned from his position as Director of the Company, effective immediately. The Board extends its sincere gratitude to Mr. Lavigne for his dedicated service and valuable contributions to Colibri over the years. His technical expertise and commitment have been invaluable, and his insights as both a Director and Qualified Person under NI 43-101 have been instrumental to advancing Colibri’s strategic initiatives. We wish Jamie all the best in his future endeavors and thank him for his leadership and professionalism. The Company is pleased to announce the appointment of Mark Smethurst, P. Geo, MSc, CFA-Level III Candidate, to the Board of Directors, effective immediately. Mr. Smethurst brings over 25 years of extensive experience in exploration and development within the mining industry. Currently serving as Director, Technical Manager, and Geology Consultant at Canadian Gold Resources Ltd., he is a Qualified Person under NI 43-101 standards and contributes both deep geological insight and technical leadership. Prior to his role at Canadian Gold Resources, Mr. Smethurst held several senior leadership positions across the sector, including: Director and Manager – Technical & Geology Consultant, Canadian Gold Resources Ltd. (since 2024) Director, Newpath Resources Inc. (2021–2022) Chief Operating Officer, Tocvan Ventures Corp. (2020–2021) Vice President Exploration, Rockcliff Resources Inc. Senior Geologist, Hercules Metals Corp. Mr. Smethurst holds a B.Sc. in Geology from the University of Toronto and an M.Sc. in Geophysics & Geology from the University of Windsor. He is also pursuing his CFA designation and has paused his Level 3 studies to focus on helping to build companies and continuing to make gold-silver discoveries. Mr. Smethurst is recognized as a Qualified Person under NI 43-101. “We are delighted to welcome Mark Smethurst to our Board,” said Ian McGavney, President & CEO of Colibri. “Mark’s wide-ranging experience—from technical leadership to corporate governance—will be a significant asset as we continue to advance exploration at EP Gold, Pilar, and Diamante.” McGavney added, “I have greatly enjoyed working closely with Jamie Lavigne over the years and sincerely appreciate his friendship and his contributions to Colibri.”

Colibri Announces Proposed Amendments to Debentures and Warrants

July 16, 2025
NEWS RELEASE - DIEPPE, N.B., July 16, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) announces its intention to amend certain terms of its currently outstanding 10% unsecured convertible debentures (the “Debentures”) that were originally issued in two tranches by the Company through private placement on August 1 and August 31, 2023 (see the Company’s news releases of August 4, September 12 and September 22, 2023). As at the date hereof, there is US$619,000 of Debentures outstanding. The Company also intends to amend the terms of 3,720,792 outstanding common share purchase warrants (the “Warrants”) and 11,049 finders’ options (the “Finder’s Options”) which were issued in conjunction with the Debentures. The Debentures mature as to US$444,000 on August 1, 2025 and US$175,000 on August 31, 2025 with 10% annual interest payable quarterly and upon maturity. The principal amount of the Debentures are currently convertible into common shares at a price of C$0.50 per Common Share after adjusting for a share consolidation effected on June 13, 2025 (see the Company’s news release dated June 11, 2025). The Debentures carry a fixed foreign exchange rate of C$1.30 for each US$1 of principal for conversion purposes. Interest on the Debentures may not be converted to Common Shares. In respect of the Warrants, each Warrant currently entitles the holder to acquire one Common Share at a price of C$0.60 per share (after adjusting for the aforementioned share consolidation) with 2,637,582 Warrants expiring on August 1, 2025 and 1,083,200 expiring on August 31, 2025. Each Finder’s Options currently entitles the holder to acquire one Common Share at a price of C$0.60 per share (after adjusting for the aforementioned share consolidation) expiring on August 31, 2023. 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Reasoning for the Proposed Amendments Strategic Timing to Advance Pilar and Drive Shareholder Value The Company is taking proactive steps to strengthen its balance sheet and align capital with its most compelling near-term growth opportunity, the advancement of the Pilar Gold & Silver Project. The Company’s proposed restructuring of the Debentures comes at a pivotal time, as Pilar progresses toward bulk sampling, supported by strong recent and historical exploration results. Momentum Toward Test Mining Colibri’s joint venture partner, Tocvan Ventures, announced on June 18, 2025, that engineering and design for a 50,000-tonne pilot leach facility is now complete, with the permitting process well underway. Tocvan has indicated it does not foresee delays in approvals and intends to commence construction following final permit acceptance. If successful, a pilot test mine run of Pilar materials could generate a relatively meaningful amount of cash flow over a short period, helping to reduce Colibri’s near-term capital requirements and further de-risking its 49% interest in the project. Pilar Drill & Bulk Sample Results Highlight Gold-Silver Potential Over multiple exploration phases, drilling at Pilar has consistently returned broad zones of oxidized near-surface gold mineralization, along with high-grade intercepts—critical for the economics of the upcoming test mine. Highlights include: 2025 (Diamond Drilling – JES-25 Series): 83.5 @ 1.3 g/t Au from surface, including 10.3 g/t over 9.7m 64.9 m @ 1.2 g/t Au, including 3.0 m @ 21.6 g/t Au and 209 g/t Ag—marking the first high-grade intercept along the North Hill trend (JES-25-108) 2023 Bulk Sample: A 1,200-tonne surface sample yielded an average head grade of 1.9 g/t Au with a calculated recovery rate of approximately 62%, confirming the presence of near-surface mineralization amenable to heap leach or vat leach processing. Historical Drilling (2020–2022): 116.9 m @ 1.2 g/t Au, including 10.2 m @ 12.0 g/t Au and 23 g/t Ag (Phase III) 94.6 m @ 1.6 g/t Au, including 9.2 m @ 10.8 g/t Au (Phase I) 47.7 m @ 0.7 g/t Au, including 3.0 m @ 5.6 g/t Au and 22 g/t Ag (Phase II) (Above technical information cited in Tocvan Ventures Corp. news release dated June 18th, 2025 which was reviewed and approved by Brodie A. Sutherland, qualified person for Tocvan Ventures Corp.) Together, these results demonstrate the continuity, scale, and metallurgical potential of gold mineralization at Pilar, while outlining multiple high-grade near-surface zones that could meaningfully contribute to the upcoming bulk test mine. What This Means for Shareholders The pilot plant is nearing approval, and Colibri’s 49% stake positions it to potentially benefit directly from the Pilar’s bulk sample / test phase’s outcome. The restructuring of the Debentures will reduce immediate financial obligations, freeing up capital to support the Pilar bulk sample / test mine program and broader exploration. With gold prices trading near historic highs, the ability to advance a high-grade, near-surface gold system into production under a low-capex pilot structure presents a compelling opportunity to unlock value for shareholders. By aligning its financial position with Pilar’s development timeline, Colibri is taking a disciplined, shareholder-first approach to unlocking value from one of the most advanced gold projects in Sonora. For Debenture holders, they will now have the opportunity to participate significantly in the potential upside in the Pilar Gold & Silver Project.
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