Colibri Resource samples 4.64 g/t gold at EP Project, Mexico

Colibri Resource Corp. [TSXV-CBI; OTC Pink-CRUCF] reported results of geological mapping and outcrop sampling recently completed on the Plomo property at the EP gold project located in the Caborca Gold Belt, NW Sonora, Mexico.

Highlights include outcrop grab samples which returned values up to 2.99 g/t gold which extend the footprint of surface mineralization at the San Perfecto target approximately 350 metres and samples from La Culebra target area that returned values up to 4.64 g/t gold occurring over a strike length of approximately 650 metres.

Ian McGavney, president and CEO, commented: “The southwest part of the San Perfecto area is on the books as a priority drill target for Colibri. We are extremely pleased with the results of the recent mapping and sampling at San Perfecto which expanded the area of known mineralization and thereby the scope and potential of our drill target. The work at La Culebra has confirmed historical sampling and demonstrates discovery potential over a 650-metre strike length which remains open. We are very encouraged by the common copper occurrences at La Culebra. Reporting these new results from our most advanced, highest priority target and from one of our earlier stage targets clearly demonstrates the significant discovery potential of the large EP property position.”

Work recently completed at the San Perfecto target area includes geological mapping and the collection and assay of 29 outcrop grab samples. Results include 14 samples which returned values greater that 0.1 g/t gold, including 9 samples greater than 0.5 g/t gold and 6 samples greater than 1.0 g/t gold, that define a cluster of mineralized outcrops which extend the footprint of known surface mineralization at San Perfecto approximately 350 m to the east-southeast.

Supported by interpretation of magnetic and IP data sets, the Company has interpreted the San Perfecto area as being indicative of a well developed high level orogenic gold system with the potential to host economically significant mineralization. The San Perfecto is a top priority target on the EP project.

La Culebra target area is located approximately 3 km to the southeast of the prioritized core target areas on the Plomo property. The recently completed work was undertaken to follow up on historical assays with reported values up to 4.28 g/t gold. A total of 34 grab samples were taken from La Culebra target area; 14 of the samples returned assay vales greater than 0.1 g/t Au, which includes 9 samples greater than 0.5 g/t gold, 5 samples greater than 1 g/t gold, and high values of 4.64 and 4.46 g/t gold. Mineralization is hosted by rusty zones which were mapped over a 650-mtere strike length in a northeast direction and coincident with an andesite-rhyolite contact.

The EP Gold Project is located within the Caborca Gold Belt (CGB) of northwestern Sonora and is comprised of the Evelyn and the Plomo properties covering a total of 4,766 hectares. The northwest trending CGB is approximately 500 km in length and is characterized by a number of orogenic-type gold deposits, prospects, and occurrences including the > 15 million ounce La Herradura Mine, located 25 km west of EP, the > 2-million-ounce Noche Buena Mine located approximately 8 km southwest of EP, and the past producing Soledad-Dipolos Mine (> 3 Moz Au) located approximately 32 km to the northwest of EP.

The Evelyn property was acquired by the Company in 2012 and the acquisition of the Plomo property was completed in March of 2023. Since February 2020, Colibri has drilled a total of 12,333 metres (total of reverse circulation and core drilling) and is advancing mineralized zones at the Main Zone, El Sahuaro, and West Sahuaro.

On the Plomo property, the company has compiled historical exploration data and has completed earlier stage exploration programs which included geological mapping and outcrop sampling at selected target areas on the property.

Current work includes interpretation and inclusion of the airborne (drone) magnetic survey over a selected part of the Plomo property that was completed in January, 2024 and recent mapping and sampling to plan and prioritize drilling and continued surface exploration.

Colibri holds four high potential precious metal projects: 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, 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.