Colibri Announces That Permits for Maiden Drill Program at Evelyn Gold Project Have Been Received

Dieppe, New Brunswick--(Newsfile Corp. - February 19, 2020) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that it has received the required drilling permits from SEMERNAT (Mexico Secretariat of Environment and Natural Resources) for its maiden drilling program at its Evelyn Gold Project located 60 km NW of Caborca Mexico.

Drill pad construction and other required infrastructure preparation will begin immediately and the drilling will then begin upon completion. A press release will be issued when drilling has commenced. The drilling program should take approximately 3 weeks to complete with assay results to be subsequently disclosed in due course.

Ron Goguen, President & CEO states: "We have been looking forward to beginning drill testing at Evelyn. Exploration activities to date have identified strong orogenic related gold mineralization. The "Caborca Gold Belt" is a globally significant producing gold trend and the Evelyn displays many of the same structural geological and mineralization features as several of the producing deposits."

The "Caborca Gold Belt" hosts many gold mines and deposits including La Herradura, Mexico's largest gold mine which produced 474,168 ounces of gold in 2018 at an average grade of 0.80 g/t Au (25km west of Evelyn) and Noche Buena mine which produced 167,208 oz Au at an average grade of 0.52 g/t Au in 2018 (9km south west of Evelyn). (www.fresnilloplc.com)

The initial 5-hole diamond drilling program will focus on testing two areas recommended by Aurometallum Geology Consulting Services and Colibri geologists in late 2019 as a result of their geological, geochemical, and structural mapping study at Evelyn. The two mineralized corridors of strong initial interest have been named "Cerro Rojo" and "El Sahuaro" (See CBI news release dated: December 3^rd, 2019).

Qualified Person and NI 43-101 Disclosure
Jackie E. Stephens, P. Geo for Colibri, is the Qualified Person, (as defined in NI 43-101), who has reviewed and approved the technical information in this press release.

About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration.

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

We seek safe harbour.

For further information: Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, [email protected]

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52534