Colibri Resource - CRUCF STOCK NEWS

Colibri Resource (TSXV: CBI) has successfully closed the second and final tranche of its non-brokered private placement, raising $146,500. Combined with the first tranche from February 11, 2025, the total proceeds amount to $286,900.

The offering consisted of units comprising one common share and one warrant, with each warrant allowing purchase of an additional common share at C$0.05 for 24 months. In total, 11,476,000 common shares and warrants were issued. The company paid $2,000 in finder's fees and issued 80,000 finder's warrants.

Proceeds allocation:

• 20% for exploration at Mexican precious metals projects
• 65% for creditors and loan interest payments
• 15% for non-arm's length party expense reimbursements

Colibri Resource (TSXV: CBI) has announced significant drilling results from its El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside partner Tocvan Ventures (51%). The highlight is a new high-grade gold-silver discovery located 300 meters east of the Main Zone, along the North Hill Trend.

Key findings include:

• Hole JES-25-108: 21.6 g/t gold and 209 g/t silver over 3.0 meters (from 8.3m depth)
• Broader mineralization of 1.2 g/t gold and 14 g/t silver over 64.9 meters from surface
• Additional discovery in Hole JES-25-107: 0.2 g/t gold and 5 g/t silver over 108.2 meters from surface

The company plans to incorporate this new discovery into their upcoming 50,000-tonne test mine/bulk sample program. The high-grade mineralization is hosted within a highly fractured near-surface fault zone with associated quartz veining, making it potentially accessible through future trenching operations.

Colibri Resource (TSXV: CBI) has announced significant drill results from its El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside partner Tocvan Ventures (51% ownership). The latest core drilling results revealed notable intersections including 1.6 g/t gold over 36.3 meters from surface, contained within a broader zone of 66 meters at 1.0 g/t gold.

Key highlights from hole JES-25-105 include high-grade sections of 15.2 g/t gold over 1.2 meters and 5.8 g/t gold over 3.0 meters. The mineralization extends from surface to 97.4 meters, averaging 0.7 g/t gold. These results represent an improvement over historic drilling in the area.

The company completed a 10-hole diamond drilling program totaling 1,167.5 metres, with results pending for six additional holes. The drilling is part of preparations for a planned 50,000-tonne test mine/bulk sample, with the company targeting development in early 2025.

Colibri Resource (TSXV: CBI) has announced an extension to the closing date of its non-brokered private placement to March 28, 2025, following increased investor interest. The offering, initially announced on January 17, 2025, aims to raise up to $250,000 through the sale of 10 million units at $0.025 per unit.

Each unit consists of one common share and one warrant, with warrants exercisable at C$0.05 for 24 months after issuance. A first tranche closed on February 13, 2025, raising $140,400. Company insiders may participate in the offering, which would constitute a related party transaction under MI 61-101, though expected to be exempt from formal valuation and minority shareholder approval requirements.

Colibri Resource (TSXV: CBI) has announced significant drill results from its El Pilar Gold & Silver Project in Sonora, Mexico. The company, holding a 49% interest alongside partner Tocvan Ventures (51%), reported impressive findings from the first two holes of a recent 10-hole diamond drilling program totaling 1,167.5 metres.

Key highlights include:

• Hole JES-25-104 yielded 10.3 g/t Au over 9.7m, including 60.6 g/t Au over 1.6 meters at 87.8 meters depth
• Broad mineralization zone averaging 1.3 g/t Au over 83.5 meters from 14.1 meters below surface
• Northwestern Hole JES-25-103 returned 3.7 meters of 0.4 g/t Au, 39 g/t Ag, and 2.6% Cu

The company plans to advance the project with an up to 50,000-tonne bulk sample/test mine and a maiden resource estimate in 2025. Previous metallurgical studies showed promising recovery rates of 95-99% for gold and 73-97% for silver through gravity recovery with agitated leach.

Colibri Resource has completed 1,122 meters of diamond drilling across 10 holes at its El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside Tocvan Ventures (51%). Samples from the first three drill holes have been sent for laboratory analysis.

The drilling program aims to infill and expand known mineralization corridors, contributing to a maiden resource estimate and Preliminary Economic Assessment for Pilar's Main Zone. Core samples show promising indicators of gold & silver mineralization, though assay results are pending.

The joint venture is planning a pilot mine facility to process up to 50,000 tonnes of material, building on successful 2023 bulk sample results that demonstrated strong gold and silver recovery through various methods. Historic drilling highlights include intersections of up to 116.9 metres at 1.2 g/t gold, with some sections reaching 12 g/t Au and 23 g/t Ag.

Colibri Resource (CBI: TSXV) has announced supplemental details for its non-brokered private placement offering announced on January 17, 2025. The company plans to issue up to 10 million units at $0.025 per unit, targeting gross proceeds of up to $250,000. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 24 months.

The proceeds allocation is structured as follows: 20% for exploration at Mexican precious metals projects including Pilar Gold and EP Gold Projects, 65% for arm's length creditors and loan interest payments, and up to 15% for reimbursing non-arm's length parties. The offering is expected to close mid-February 2025, subject to TSX Venture Exchange approval, with securities subject to a four-month hold period.

Colibri Resource (TSXV: CBI) has provided an update on its diamond drilling program at the El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside Tocvan Ventures (51%). Six holes have been completed, totaling 672.2 metres, with a seventh hole currently in progress. Initial cores have been logged and are being prepared for geochemical analysis.

The project has shown promising historical drill results, including highlights such as 116.9 metres of 1.2 g/t gold, 108.9 metres of 0.8 g/t gold, and 94.6 metres of 1.6 g/t gold. Metallurgical testing has demonstrated strong recovery rates, with 62% gold recovery over a 46-day leaching period and gravity recovery tests showing 95-99% gold recovery.

The Pilar property is interpreted as a structurally controlled low-sulphidation epithermal system, with mineralization extending along a 1.2-kilometre trend, of which only half has been drill tested.

Colibri Resource (TSXV: CBI) has announced a new non-brokered private placement offering of up to 10 million units at $0.025 per unit, aiming to raise up to $250,000. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 24 months.

The proceeds will fund exploration at the company's Mexican precious metals projects, including the Pilar Gold Project and EP Gold Project. The offering is expected to close in mid-February 2025, potentially in multiple tranches.

Additionally, Colibri received final TSX Venture Exchange acceptance for its previous private placement, which raised $305,500 through the sale of 6,110,000 units, correcting earlier disclosure that stated 550,000 units had been sold. These units included warrants exercisable at $0.075 for 24 months.