Mr. Ian McGavney reports

COLIBRI ANNOUNCES NEW NON-BROKERED PRIVATE PLACEMENT; TSXV FINAL ACCEPTANCE ON PRIOR PLACEMENT AND DISCLOSURE CORRECTION

Colibri Resource Corp. intends to conduct a non-brokered private placement of up to 10 million units at a price of 2.5 cents for gross proceeds of up to $250,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at a price of five cents per common share for a period of 24 months following the closing of the offering.

The net proceeds of the offering will be used for coming exploration expenses at Colibri's highly prospective precious metal projects in Mexico, including the Pilar gold project and the EP gold project, and for working capital.

The offering is anticipated to close toward the middle of February, 2025. Closing may occur in one or more tranches.

Closing of the offering is subject to the acceptance of the TSX Venture Exchange. Common shares issuable will be subject to a statutory hold period expiring on the date that is four months and one day after closing. The company anticipates that it may pay certain finders' fees as per the guidelines of the exchange.

The offering will be conducted by the company primarily under the accredited investor exemption of National Instrument 45-106 (Prospectus and Registration Exemptions) but may use other exemptions if appropriate.

Certain insiders of the company may acquire units in the offering. Any participation by insiders in the private placement will constitute a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders is expected to exceed 25 per cent of the company's market capitalization.

TSX Venture Exchange final acceptance and disclosure correction

Colibri also wishes to announce that, further to its news release of Dec. 20, 2024, it has received final acceptance from the exchange in regard to a private placement originally announced on Aug. 23, 2024. See also the company's follow-up news releases dated Sept. 6 and Oct. 4, 2024. A total of 6,110,000 units were sold for gross proceeds of $305,500. Each unit sold consisted of one common share and one common share warrant exercisable at a price of 7.5 cents per share for a period of 24 months from the date of issuance. The foregoing corrects the disclosure in the company's Dec. 20, 2024, news release, which incorrectly stated that a total of 550,000 units had been sold.

About Colibri Resource Corp.

Colibri is a Canadian-based mineral exploration company listed on the TSX Venture Exchange, and is focused on acquiring, exploring and developing prospective gold and silver properties in Mexico. The company holds four high-potential precious metal projects: (1) 100 per cent of the EP gold project in the significant Caborca gold belt, which has delivered highly encouraging exploration results and is surrounded by Mexico's second-largest major producer of gold on four sides; (2) 49-per-cent ownership of the Pilar gold and 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 and silver project and Jackie gold and silver project).

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