Colibri Lists Common Shares on Frankfurt Stock Exchange

Rhea-AI Summary

Colibri Resource has listed its common shares on the Frankfurt Stock Exchange under the trading symbol '2CO1'. This strategic move aims to attract European investors to its precious metals exploration projects, including the 49% owned Pilar Gold & Silver Project and the 100% owned EP Gold Project. The Frankfurt Stock Exchange is one of the largest international trading centers, facilitating significant securities trading through its electronic platform XETRA.

The ongoing Phase IV drilling at the Pilar Project, managed by Tocvan Ventures, has completed over 2,200 meters across 20 drill holes, with notable results including 56.4 meters of 1.0 g/t Au and 42.7 meters of 1.0 g/t Au. An NI 43-101 compliant resource estimate is anticipated by Q4 2024. Additionally, Colibri has decided to return the Mezquite project claim, reducing long-term liabilities, while continuing its interests in the Diamante and Jackie projects.

Positive

• Listing on the Frankfurt Stock Exchange could attract European investors.
• The Frankfurt Stock Exchange is a major international trading center.
• Phase IV drilling at Pilar Project has shown promising results.
• NI 43-101 compliant resource estimate expected by Q4 2024.
• Reduction of long-term liabilities by returning the Mezquite project claim.

Negative

• Results for six drill holes at the Pilar Project are still pending.
• The Mezquite project claim was returned, which may reflect a lack of progress or potential in that area.
• The company owns only 49% of the Pilar Project, limiting its control and potential benefits.

Dieppe, New Brunswick--(Newsfile Corp. - June 3, 2024) - Colibri Resource Corporation (TSXV: CBI) (the "Colibri" or "the Company") is pleased to announce the listing of the Company's common shares on the Frankfurt Stock Exchange (the "FSE") under the trading symbol "2CO1".

The Company intends to introduce European investors to its high potential precious metals exploration projects which includes the 49% owned Pilar Gold & Silver Project, and its 100% owned EP Gold Project.

The FSE is one of the world's largest international trading centers (behind only the NASDAQ and NYSE) organized exchange-trading market in terms of turnover and dealings in securities. The electronic trading platform of the FSE, XETRA, has made it the world's second largest fully electronic cash market responsible for approximately 90 percent of all securities traded in Germany with direct linkage to all other major European financial hubs.

Pilar Drilling Update

The Pilar Gold & Silver Project is still presently being drill tested (Phase IV Drilling) by the 51% majority owners Tocvan Ventures (Colibri owns 49%). To date, over 2,200 metres have been completed in 20 drillholes. Results for nine drillholes have been release to date. Two holes returned the best to date results outside of the Main Zone trend, returning 56.4 metres of 1.0 g/t Au and 42.7 metres of 1.0 g/t Au from the 4-T and North Hill trends respectively. Both intersects were encountered near surface and are considered significant step outs (over 300 metres). Results for six drillholes are pending analysis and release. Samples for ongoing holes are delivered to the laboratory for geochemical analysis on a weekly basis.

The recent highlighted results open Pilar's deposit expansion opportunities. A NI 43-101 complaint resource estimate, which will incorporate results from the current drill program and historical drilling programs, is expected to be completed for Pilar in Q4 2024.

To review the results of the Phase IV program to date please refer to the News tab on our website: www.colibriresource.com/news.

Mezquite Project

The Company has made the decision to return the Mezquite project claim in the Tepoca area of the Sierra Madre to the original vendor and cancelling the corresponding long term convertible debt. By returning the project to the vendor, Colibri will significantly reduce its long-term liabilities.

Colibri will continue to hold its interests in the very promising Diamante and Jackie projects, which lie in the prolific Sierra Madre Occidental of Sonora.

ABOUT COLIBRI RESOURCE CORPORATION:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project).

For more information about all Company projects please visit: www.colibriresource.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

For information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211434

FAQ

What is the significance of Colibri listing on the Frankfurt Stock Exchange?

Listing on the Frankfurt Stock Exchange allows Colibri Resource to attract European investors and gain exposure in a major international trading center.

What is the trading symbol for Colibri's shares on the Frankfurt Stock Exchange?

The trading symbol for Colibri's shares on the Frankfurt Stock Exchange is '2CO1'.

What are the latest drilling results for Colibri's Pilar Gold & Silver Project?

Recent drilling results at the Pilar Gold & Silver Project include 56.4 meters of 1.0 g/t Au and 42.7 meters of 1.0 g/t Au. Results for six drill holes are still pending.

When is the NI 43-101 compliant resource estimate for the Pilar Project expected?

The NI 43-101 compliant resource estimate for the Pilar Project is expected to be completed by Q4 2024.

What impact does returning the Mezquite project claim have on Colibri?

Returning the Mezquite project claim reduces Colibri's long-term liabilities, though it may indicate a lack of progress or potential in that area.