Colibri Resource Corporation along with its partner Silver Spruce Resources Inc. announced the resumption of field work at the Diamante property located in south eastern Sonora within the Sierra Madre belt of epithermal gold-silver deposits. The exploration crew has been dispatched to the property and will be completing geological mapping and sampling over the next 6 to 8 week period. Geological mapping will include a property-wide approach as well as the more detailed evaluation of selected showings. Sampling will include outcrop sampling as well as property-wide stream sediment sampling. The Company anticipates initiating a drill program at Diamante during the fall at the conclusion of the field work and after the seasonal rains. 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 before year end. The Property is located approximately 170 km southeast of Sonora state capital Hermosillo and approximately 10 km northwest of the town of Tepoca. The property is accessed directly from Sonora state Highway 16. The 1,057-hectare Diamante property is located adjacent to the Company's Mezquite and Jackie properties which cover 180 and 1113 hectares respectively 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 Silver Spruce completed the first-ever drill program on the Diamante property during 2022 at the prioritized targets El Pillado and La Prieta. 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. Locally high-grade base metal mineralization included the intersection of 5.87 % Zn and 5.31 % Pb over a 1.5 m intersection with 0.31 g/t Au and 497 g/t Ag yielded an equivalent grade of 9.79 g/t Au (metal prices of equivalency calculation included below).