Colibri Resource Corporation provided shareholders and interested parties with an update on its exploration and corporate activities. EP Project: The Company recently announced the completion of a 2,200 metre drill program at its flagship EP Project. The EP Project is a consolidated land position consisting of Colibri's long held Evelyn Gold Project and the contiguous Plomo Gold Project which was acquired in early 2023 from the liquidators of Great Panther Mining.

The total land position is 4,766 hectares and is located in the heart of the prolific Caborca Gold Belt. The project is encircled by Fresnillo Plc claims, one of Mexico's largest gold miners, which owns three open pit gold mines within 32kms of the project (including the La Herradura gold mine which has combined past production and current resources of more than 15 million ounces Au) and is presently developing a fourth deposit 11km south of EP. Exploration of both Evelyn and Plomo began from the concept of applying modern exploration science and geological interpretation in areas where small scale hard rock miners and placer miners have left evidence of significant activity.

Both properties have numerous small mines, test pits, and large areas of alluvium processing by placer miners referred to as "gambusinos." EP Project exploration work completed to date includes a total of 13,087 metres of RC and core drilling, assay of more than one thousand surface rock and soil samples, geological mapping, structural mapping, and geophysical surveys including Magnetics and Induced Polarization ("IP"). The results clearly demonstrate that the EP Gold Project shares many geological characteristics with the operating mines and deposits in the adjacent Caborca Gold Belt. Compilation and interpretation completed by the Company has resulted in the identification and prioritization of a number of drill-ready and advanced exploration targets.

Highlights of drilling include 12.2 g/t Au over 3m and 29m at 0.47 g/t Au from the Main Zone, 15m at 2.36 g/t Au from El Sahuaro, and 0.66 g/t Au over 11.65m from San Perfecto. The most recent drilling at EP tested three target areas on the Evelyn Property. Assay results will be released upon receipt, validation, and interpretation of the data.

Diamante Project The 1,057-hectare Diamante property is located adjacent to the Company's Mezquite and Jackie properties which cover 180 and 1113 hectares respectively thus providing the company with a total of 2,351 hectares of exploration ground. The Diamante property hosts a number of historical showings and combined with mineralization on the Mezquite and Jackie properties exhibit the geological characteristics of epithermal low to intermediate sulfidation Ag-Au (Pb-Zn), high sulfidation Au-Cu, and potential transition zones within and peripheral to porphyry style Au-Cu mineralization. Colibri and its partners completed the first-ever drill program on the Diamante property during 2022 at the El Pillado and La Prieta targets.

Results included 2.48 grams per tonne ("g/t") Au and 56.7 g/t Ag over an intersection length of 9.0 metres ("m") from La Prieta and 0.26 g/t Au and 184.5 g/t Ag over an intersection length of 6.0 m from El Pillado. These two targets represent only two of nine known exploration targets on the property. The Company is currently completing a geological mapping and sampling program at Diamante taking a property-wide approach as well as a more detailed evaluation of selected showings.

Sampling includes outcrop sampling as well as property-wide stream sediment sampling. The Company anticipates initiating a drill program at Diamante before the end of the calendar year. The Diamante property is located within a belt of Epithermal Au-Ag mineralization hosted by the Sierra Madre Occidental Volcanic Complex.

Major gold mining operations in the area of the Diamante property include Alamos Golds' Los Mulatos Mine and Agnico Eagles' El India and Pinos Altos Mines. The Diamante project is located approximately 12km km northeast of Minera Alamos' Santana Au development project which is anticipated to commence commercial production in the near future. Colibri and its partners have located many areas on the project that have evidence of historical small scale production however no production records are available.