Dieppe - Colibri Resource Corporation (TSXV: CBI) ('Colibri' or the 'Company') is pleased to announce that its partner, Tocvan Ventures Corp ('Tocvan'), has reported assay results from 4 holes drilled at the Pilar Gold & Silver Project ('Pilar') located in Sonora, Mexico.

Tocvan is currently completing 3,500 metres ('m') of Reverse Circulation drilling in 20 holes comprising its Phase II program at Pilar. Previously released assay results from Phase II at Pilar include an intersection of 29 m at an average grade of 0.71 grams per tonne ('g/t') Au in hole hole JES-21-38.

A highlight of the current results includes an intersection of 0.66 g/t Au over an intersection length of 35.1 m in hole JES-21-43. 'Hole JES-21-043 is a significant step out to the east and illustrates the potential of the Main Zone at Pilar. We continue to be very pleased by the work being completed by Tocvan and look forward to further assay results from the Phase II drill program' commented Company President and CEO Ron Goguen.

ABOUT COLIBRI RESOURCE CORPORATION

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed or planned for 2021. The flagship Evelyn Gold Project is 100% owned and explored by Colibri. The Company has four additional projects, Pilar Gold & Silver Project (optioned to Tocvan Ventures- CSE:TOC), El Mezquite Gold & Silver Project , Jackie Gold & Silver Project, and the Diamante Gold & Silver Project (earn-in agreements with Silver Spruce Resources - TSX.V-SSE) are also currently being actively advanced.

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.

Contact:

Ronald J. Goguen

Tel: (506) 383-4274

Email: rongoguen@colibriresource.com

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