NEWS RELEASE

Colibri Announces Non-Brokered Private Placement

August 23, 2024

Dieppe, New Brunswick--(Newsfile Corp. - August 23, 2024) - Colibri Resource Corporation (TSXV: CBI)  ("Colibri" or the "Company") is pleased to announce that it intends to conduct a non-brokered private placement (the "Offering") of up to 9,000,000 units (the "Units") at a price of $0.05 for gross proceeds of up to $450,000, each Unit consisting of one (1) common share (a "Common Share") and one (1) common share purchase warrant (the Warrants). Each Warrant will entitle the holder to acquire one additional Common Share of the Corporation at a price of C$0.075 for a period of 24 months following the closing of the Offering.


The net proceeds of the Offering will be used for upcoming exploration expenses at its highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project and for working capital.


The Offering is anticipated to close towards mid-September 2024 (the "Closing"). Closing may occur in one or more tranches. Closing of the Offering remains subject to the acceptance of the TSX Venture 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 may pay finders fees to qualified finders as per the guidelines of the TSX Venture Exchange.


The Offering will be conducted by the Company utilizing the "accredited investor" exemption of National Instrument 45-106 -- Prospectus and Registration Exemptions and other applicable exemptions available to the Company.


Interested parties may request further details by contacting: Ian McGavney, President & CEO at (506) 383-4274 or ianmcgavney@colibriresource.com.


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, however, expects that 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, will exceed 25% of the Company's market capitalization.


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.


Contact:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274
ianmcgavney@colibriresource.com


Forward-Looking Statements



Neither the 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 news release.


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.


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES


Share This.

Related news releases.

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

March 13, 2026
NEWS RELEASE - DIEPPE, N.B., March 13, 2026 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to report assay results from its maiden Phase 1 reconnaissance reverse circulation (“RC”) drill program completed at the Plomo claims within the Company’s 100% owned EP Gold Project located in the prolific Caborca Gold Belt of Sonora, Mexico, a region that hosts several significant gold deposits and mining operations including La Herradura and Noche Buena, which are operated by Fresnillo plc.  The Phase 1 program comprised 22 RC drill holes completed across the San Perfecto (20 holes) and Banco de Oro (2 holes) targets within the Plomo claim block, along with one RC drill hole completed at the West Sahuaro target located within the Evelyn claim block of the EP Gold Project. The program represents the first modern drill testing of multiple targets identified through geological mapping, geophysical interpretation and surface sampling across the Plomo claims. Highlights 7.5 m grading 2.92 g/t Au from 6 m, including 1.5 m grading 9.95 g/t Au (PL26-017) 30.0 m grading 0.73 g/t Au from 3 m, including 1.5 m grading 7.51 g/t Au (PL26-015) 30.0 m grading 0.45 g/t Au from surface, including 6 m grading 1.16 g/t Au (PL25-011) 19.5 m grading 0.44 g/t Au from 3 m, including 4.5 m grading 1.29 g/t Au (PL25-004) 1.5 m grading 12.55 g/t Au from surface (PL25-005) Gold mineralization intersected in 18 of 22 holes drilled in the Phase 1 program Gold mineralization intersected across an interpreted ~1.2 km mineralized structural corridor at the San Perfecto target Ian McGavney, President and CEO of Colibri Resource Corporation, commented : “We are extremely pleased with the results from our maiden drill program at the Plomo claims. Intersecting gold mineralization in 18 of 22 holes, including 7.5 metres grading 2.92 g/t gold and 30.0 metres grading 0.73 g/t gold from near surface, represents a strong start and provides compelling evidence of a broad mineralized system along the San Perfecto corridor. In addition, the results from Banco de Oro, where drilling intersected 30 metres grading 0.45 g/t gold including higher-grade intervals, further demonstrate the potential for multiple mineralized zones within the Plomo claim block. Together with the encouraging results from West Sahuaro, these results continue to strengthen our belief that the EP Gold Project hosts one or more significant gold system within the Caborca Gold Belt.” Table 1 – Significant Gold Intercepts – Plomo (0.10 g/t Au cutoff, maximum 3 m internal dilution; intervals are downhole lengths)

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

January 15, 2026
NEWS RELEASE - DIEPPE, N.B., January 15, 2026 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to announce that it has resumed reverse circulation (“RC”) drilling in the Plomo area of its 100%-owned EP Gold Project in Sonora, Mexico. The current phase of work is designed to systematically evaluate priority structures and targets identified within the Plomo area, which has seen limited historical drilling, using a disciplined, first-pass exploration approach. Prior to the year-end break, the Company completed an initial phase of drilling at the San Perfecto and Banco de Oro targets consisting of eleven (11) RC drill holes totaling approximately 906 metres, with samples submitted for assay in December. The resumed program continues the first-pass evaluation of the San Perfecto target, while expanding testing to additional priority targets identified within the Plomo area. The Company plans to complete an additional six (6) to ten (10) RC drill holes as part of this phase of work. The Plomo area hosts multiple exploration targets within the broader EP Gold Project and has experienced minimal historical drilling. Colibri’s ongoing work at Plomo is part of a systematic, staged exploration strategy aimed at evaluating multiple targets across the area through a reverse circulation (RC) drilling program at the EP Gold Project. Samples from the Company’s December drilling campaign are currently at the laboratory. Based on current laboratory guidance, the Company anticipates that assay results from these initial drill holes may begin to be received in early February, subject to laboratory turnaround times. Results will be reported once received, compiled, and reviewed. “This phase of work represents a disciplined continuation of our first-pass exploration strategy at Plomo,” said Ian McGavney, President & CEO of Colibri Resource Corporation. “Our focus remains on systematically evaluating priority targets through careful execution and data collection, while maintaining operational momentum as we await results from the initial drill program.”

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

December 17, 2025
NEWS RELEASE - DIEPPE, N.B., December 17, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to provide an update on its ongoing reverse circulation (“RC”) drilling program at the San Perfecto target within the Company’s 100%-owned EP Gold Project, located in the Caborca Gold Belt, Sonora, Mexico. Since mobilization, the Company has completed eleven (11) RC drill holes totaling approximately 906 metres at the San Perfecto and Banco de Oro targets. Drilling is continuing as planned, with crews focused on systematically advancing the current phase of the program. Samples from completed drill holes are currently being prepared for submission to an independent laboratory. Subject to laboratory turnaround times, initial assay results from the first holes are anticipated in January. Regional Mining Activity The State of Sonora hosts a concentration of producing and advanced-stage gold projects operated by several established precious metals companies. Mining and development activities in Sonora include projects operated by Fresnillo plc (La Herradura and Noche Buena mines), Alamos Gold (Mulatos Mine and Mulatos District), Agnico Eagle Mines (La India Project), Osisko Development (San Antonio Project), Minera Alamos (Santana Mine and Cerro de Oro Project), and Aztec Minerals (Cervantes Project), among others. These projects are cited for regional context only and illustrate Sonora’s long-standing role as one of Mexico’s most active and infrastructure-supported mining jurisdictions. San Perfecto Target – Drilling Progress  The San Perfecto target represents one of several priority exploration areas identified within the EP Gold Project. Current drilling activities are focused on methodically advancing the target area while maintaining steady operational momentum early in the program.
ALL NEWS RELEASES