Mr. Ian McGavney reports

COLIBRI ANNOUNCES DEBT CONVERSION

Colibri Resource Corp., further to its news release of Oct. 17, 2025, has completed the conversion of $600,995 of debt to units of the company. Of the amount converted, $505,995 represents the principal amount and interest accrued of certain debentures that had matured in August, 2025. The remaining $95,000 represents amounts owed to two arm's-length trade creditors who have agreed to accept units in lieu of payment on accounts.

Under the debt conversion, Colibri has issued 3,848,300 units in aggregate and as follows:

• 3,373,300 units issued to the debentureholders at a deemed price of 15 cents per unit, each unit comprising one common share and one common share purchase warrant of the company. Each warrant entitles the holder to acquire one additional common share of the company at a price of 25 cents for a period of 24 months following issuance;
• 475,000 units issued to trade creditors at a deemed price of 20 cents per unit, each unit comprising one common share and one common share purchase warrant of the company. Each warrant entitles the holder to acquire one additional common share of the company at a price of 30 cents for a period of 24 months following issuance.

All parties receiving the units are arm's length to the company. No finders' fees or commissions have been paid in relation to the debt conversion.

The common shares and warrants issued for the debt conversion are subject to a statutory hold period expiring on the date that is four months and one day after closing. Completion of the debt conversion remains subject to final acceptance of the TSX Venture Exchange.

"This is debt conversion represents an important milestone for the company as it will remove a significant portion of current debt on the company's balance sheet and move it into equity," said Ian McGavney, chief executive officer. "As a result, we have significantly enhanced our ability to raise additional capital for our exploration projects."

About Colibri Resource Corp.

Colibri is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (CBI) 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 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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