Colibri Reports 3rd Batch of Drill Results from Ongoing Drill Program at the Pilar Gold and Silver Project in Sonora

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Colibri Resource (TSXV: CBI) and its co-owner Tocvan Ventures announced results from six drill holes at the Pilar Gold & Silver Project in Sonora, Mexico.

The drilling program revealed several significant mineralized zones, including high gold, silver, copper, and zinc values. Key findings include JES-24-73, which showed 4.6 meters with 2.2 g/t Au, 49 g/t Ag, 0.46% Cu, and 1.48% Zn, and JES-24-84, which returned 10.7 meters of 0.6 g/t Au and 3 g/t Ag. Additionally, exploration hole JES-24-87 indicated broader mineralization, with 53.4 meters of 0.1 g/t Au and 2 g/t Ag.

The results suggest resource potential expansion along the Main Zone and 4-T Trend. Over 2,700 meters have been drilled in 2024, with more results pending analysis.

Positive

Several zones of high-grade mineralization, including 4.6 meters with 2.2 g/t Au, 49 g/t Ag, 0.46% Cu and 1.48% Zn.
Significant expansion in resource potential along the Main Zone Trend and 4-T Trend.
JES-24-87 showed broadest gold-silver mineralization in exploration to date with 53.4 meters of 0.1 g/t Au and 2 g/t Ag.
Infill holes indicate continued mineralization, promising further resource advancement.
Drilling results continue to affirm the project's potential, attracting interest from major producers.

Negative

JES-24-83 to JES-24-85 returned relatively low gold values, with 102.2 meters showing only 0.1 g/t Au.
Exploration holes JES-24-86 and 87 showed lower than expected grade values, despite broad anomalous zones.
Pending results for eight drill holes could delay further business decisions and investments.

06/06/2024 - 09:19 AM

Dieppe, New Brunswick--(Newsfile Corp. - June 6, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to report that the co-owner of its Pilar Gold & Silver Project in Sonora, Mexico, Tocvan Ventures (51% interest) has announced the results from six holes drilled in the ongoing Phase 4, RC drill program. Colibri owns a 49% interest of the Pilar Gold & Silver Project.

Highlights from Tocvan Pilar News Release - June 6^th, 2024:

Infill Drilling on Main Zone Trend Hits Several Zones Expanding Resource Potential
- JES-24-73, 16.8 meters of 0.8 g/t Au and 19 g/t Ag
  - Including Polymetallic Zone of 4.6 meters of 2.2 g/t Au, 49 g/t Ag, 0.46% Cu and 1.48% Zn
  - Also, 3.1 meters of 0.9 g/t Au, 10 g/t Ag and 3.2% Zn
  - Also, 10.7 meters of 0.8 g/t Au and 2 g/t Ag
  - And, 3.0 meters of 3.8 g/t Au and 4.7 g/t Ag
  - Within 152.5-meter anomalous zone from surface averaging 0.3 g/t Au and 3 g/t Ag
- JES-24-84, 10.7 meters of 0.6 g/t Au and 3 g/t Ag
  - Including 1.5 meters of 3.3 g/t Au, 14 g/t Ag and 0.67% Cu
  - Within 97.6-meter anomalous zone from 48.8-meter depth of 0.1 g/t Au and 1 g/t Ag
Large Step-out Exploration Drilling Hits Best Results to Date in Southeast Targets, Expands 4-T Trend 400m SE
- JES-24-87, Including 0.6 g/t Au and 7 g/t Ag and 0.6 g/t Au and 15 g/t Ag both over 1.5 meters
  - Within 53.4 meters of 0.1 g/t Au and 2 g/t Ag
Six Holes Released, All Six Intersect Mineralization
Additional Results Pending. Over 2,700 meters Drilled to Date in 23 Holes

For full details please see the Tocvan Ventures news release dated June 6^th, 2024 below:

Calgary, Alberta - June 6, 2024 - Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3) (the "Company"), is pleased to announce drill results from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico.

Results today highlight four infill holes along the Main Zone Trend, three of which are located on the northwest extent of the trend. Two exploration holes along the far southeast extent of the 4-T trend are also included in today's results. Infill holes are highlighted by drillhole JES-24-73 which returned four distinct zones of mineralization that include two zones of high copper and zinc values, including 4.6 meters of 2.2 g/t Au, 49 g/t Ag, 0.46% Cu and 1.48% Zn (results are summarized in Table 1) Anomalous mineralization extends from surface to 152.5 meters vertical depth averaging 0.3 g/t Au and 3 g/t Ag across all four mineralized sections. Infill hole JES-24-84 returned 10.7 meters of 0.6 g/t Au and 3 g/t Ag within a broad anomalous zone of 97.6 meters of 0.1 g/t Au starting from 48.8 meters vertical depth. It is important to note both holes represent the extension of the Main Zone along the edges, the continuation of mineralization is a positive sign for further resource advancement. As for exploration drilling, two holes 400 meters southeast along the 4-T Trend have returned values indicating mineralization continues along this corridor. This is highlighted by JES-24-87 which returned 53.4 meters of 0.1 g/t Au and 2 g/t Ag, the broadest zone of gold-silver mineralization recorded in exploration drilling to date and over 700 meters from the Main Zone.

Over 2,700 meters have been drilled to date for the 2024 program. Results for eight drill holes are currently pending analysis (green squares on Figure 1). Drilling is ongoing at Pilar.

"The results today give us numerous reasons to be excited about the potential of Pilar," commented Brodie Sutherland, CEO. "Not only are we continuing to increase the resource potential on the outer edges of the Main Zone but have successfully hit significant mineralization in two exploration holes 700 meters away. With all good exploration, it takes time to focus in on key targets, the latest results are providing us with the evidence needed to further evaluate the southeast extent of the several known trends. The polymetallic results returned at the Main Zone are likely related to breccia phases encountered in previous core drilling (JES-22-61) 40m to the northwest, where elevated gold, silver and zinc were recorded. The presence of multiple breccia and vein phases at Pilar is what makes it an attractive target, it is a complex and robust system that we feel is just starting to take shape. In addition, the interest from a major producer in the greater expansion area potential is a clear sign we are taking the right steps to advance the area further and getting the attention we feel the project deserves."

Figure 1. Summary map of drill highlights and surrounding surface results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/211913_b63a636594511b56_001full.jpg

Discussion of Results
JES-24-73
The drillhole targeted near surface mineralization next to and down-dip of past core drillhole JES-22-62, which returned 108.6 meters of 0.8 g/t Au and 3 g/t Ag. Important to note that JES-22-62 was a significant 125-meter step out southeast of the Main Zone at the time representing a significant increase in resource size. JES-24-73 returned anomalous mineralization from surface to a vertical depth of 152.5 meters, with four distinct higher-grade intervals. Two of which returned intervals with elevated copper and zinc with gold and silver, represented by 4.6 meters of 2.2 g/t Au, 49 g/t Ag, 0.46% Cu, 1.48% Zn from 54.9 meters depth and 3.1 meters of 0.9 g/t Au, 10 g/t Ag and 3.2% Zn from 77.8 meters depth. These zones look to correlate with a silicified magnetite rich breccia encountered in past drillhole JES-22-61 (63.4m of 0.6 g/t Au and 11 g/t Ag) 40 meters to the northwest. The Company is encouraged by these results and further infill drilling to the north has been completed with results pending.

North Extent of Main Zone Trend
JES-24-83, 84 and 85
Three drillholes targeted gaps in the database along the northern extent of the Main Zone Trend. All three holes returned anomalous mineralization. JES-24-83 returned 102.2 meters of 0.1 g/t Au from 10.7 meters vertical depth, this includes near surface gold values up to 3.5 g/t Au over 1.5 meters from 10.7 meters. Copper values up to 0.69% Cu over 1.5 meters were returned along with gold and silver (0.2 g/t Au, 14 g/t Ag). Elevated copper values are common on the north end of the Main Zone and North Hill Trends. JES-24-84 returned 97.6 meters of 0.1 g/t Au from 48.8 meters vertical depth, including 10.7 meters of 0.6 g/t Au, 3 g/t Ag and 0.17% Cu from 108.3 meters vertical depth. JES-24-85 was drilled off the same pad as JES-24-84, westward at a 45-degree angle. Four weaker zones of mineralization were recorded to a downhole depth of 123.5 meters.

Exploration Drill Results
4-T Trend South Extensions
Drillholes JES-24-86 and 87 tested the far southern extension (400m southeast) of the 4-T Trend where limited data exists. The two holes were drilled from the same pad in opposite directions (315 and 135 azimuths). Both returned anomalous mineralization with JES-24-87 returning the best result thus far, 53.4 meters of 0.1 g/t Au and 2 g/t Ag from 45.8 meters downhole depth, including two, 1.5-meter zones of 0.6 g/t Au. The Company views these early exploration results as extremely positive as they greatly expand the mineralization potential along the southern extent of these corridors.

Table 1. Summary of Drill Results Released Today from Pilar Project.
All interval lengths are drilled widths. 10,000 ppm = 1%

Hole ID	From (m)	To (m)	Width (m)	Au (g/t)	Ag (g/t)	Cu (ppm)	Pb (ppm)	Zn (ppm)
JES-24-73	0.00	152.50	152.50	0.26	3.00	293	63	1,818
including	0.00	21.35	21.35	0.11	0.55	81	15	96
also	32.05	61.00	28.96	0.46	12.32	937	43	4,783
including	44.23	61.00	16.78	0.76	18.70	1,532	56	8,006
including	54.90	59.48	4.58	2.23	48.68	4,643	140	14,806
also	77.78	80.83	3.05	0.89	9.65	649	93	32,100
also	103.70	129.63	25.93	0.35	0.96	374	32	270
including	112.85	123.53	10.68	0.75	1.91	794	23	254
also	149.50	152.50	3.00	3.83	4.67	238	1,558	1,569
JES-24-83	10.68	112.85	102.18	0.10	1.34	534	23	124
including	10.68	12.20	1.53	3.53	0.25	117	12	118
also	36.60	38.13	1.53	0.09	9.43	93	27	173
also	53.38	64.05	10.68	0.20	2.68	1,131	26	135
including	53.38	54.90	1.53	0.56	2.50	2,200	19	194
and	62.53	64.05	1.53	0.62	1.50	107	18	101
also	77.78	79.30	1.52	0.24	1.00	29	19	80
also	99.13	112.85	13.73	0.06	3.80	1,957	43	157
JES-24-84	48.80	146.40	97.60	0.11	0.99	394	20	164
including	48.80	53.38	4.58	0.22	1.20	300	11	138
and	67.10	68.63	1.53	0.03	7.42	95	25	446
and	86.93	88.45	1.53	0.21	0.25	98	19	255
and	100.65	102.18	1.52	0.17	0.50	397	18	114
and	108.28	118.95	10.68	0.62	3.40	1,772	19	177
including	108.28	109.80	1.52	3.34	14.15	6,790	32	200
also	144.88	146.40	1.53	0.15	0.25	13	19	134
JES-24-85	42.70	45.75	3.05	0.11	0.73	266	25	4,375
and	82.35	88.45	6.10	0.10	0.39	157	26	89
and	99.13	105.23	6.10	0.19	1.29	36	20	156
including	99.13	100.65	1.53	0.51	1.80	13	25	151
also	122.00	123.53	1.53	0.20	0.25	13	6	207

Table 2. Drillhole locations released today.

Hole ID

Azimuth

Dip

Depth (m)

Easting

Northing

Elevation (m)

JES-24-73

-90

201.30

617507

3144450

444

JES-24-83

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FAQ

What are the recent drill results for CRUCF at the Pilar Gold & Silver Project?

Recent drill results at the Pilar Gold & Silver Project include several zones of high-grade mineralization. Key findings include JES-24-73 with 4.6 meters of 2.2 g/t Au, 49 g/t Ag, 0.46% Cu, and 1.48% Zn.

How does the recent drilling impact CRUCF's resource potential?

The recent drilling has expanded CRUCF's resource potential along the Main Zone and 4-T Trend, suggesting further resource advancement.

What significant mineralization was found in the drill program at CRUCF's Pilar Project?

Significant mineralization included high values of gold, silver, copper, and zinc, such as 4.6 meters with 2.2 g/t Au, 49 g/t Ag, 0.46% Cu, and 1.48% Zn.