Dieppe - Colibri Resource Corporation (TSXV: CBI) ('Colibri' or the 'Company') is pleased to announce that its partner Tocvan Ventures Corp. ('Tocvan') has reported its final 3 assays from its 20-hole (3,500 metres) Phase II reverse circulation ('RC') drill program at the Pilar Gold and Silver Project ('Pilar'), Sonora, Mexico.

Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51% ownership of the Pilar Gold-Silver Project.

'Extension of mineralization to the southeast has been part of Tocvan's exploration model at Pilar and they have done an excellent job in testing and proving this strategy. We look forward to continued drilling later this year and further developing mineralization on a southeast trend. We also look forward to the results of a bulk sample from the Main Zone being planned by Tocvan. Historical drilling at the Main Zone, including drilling by Colibri, and more recently by Tocvan has intersected excellent gold grades,' states Ron Goguen, President & CEO of Colibri.

Results Discussion

JES-21-50 - The hole was planned to test the continuation of the Main Zone to the southeast, as a 50m step-out to JES-21-47 which intersected 47.7m of 0.75 g/t Au. Drilling in JES-21-50 intersected a broad zone of mineralization in altered andesites over 39.7 meters of 0.96 g/t Au, including a vein zone grading 1.5 meters of 14.6 g/t Au and 11 g/t Ag. The Main Zone continues to extend to the southeast and remains open as an expansion target for the next phase of drilling.

JES-21-56 - The hole was planned to test the eastern most extent of the Triple Vein Zone where surface sampling recovered 4.5 g/t Au and 735 g/t Ag from a rock chip along an artisanal working. Drilling intersected a silver rich zone grading 0.57 g/t Au and 139 g/t Ag, 216.6 meters downhole. Hitting mineralization at depth now opens this target area up for further exploration drilling along the 400 metre trend.

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization.

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

(C) 2021 Electronic News Publishing, source ENP Newswire