Colibri Announces That Phase 1 Drilling Program at Evelyn Gold Project Is Complete

Dieppe, New Brunswick--(Newsfile Corp. - March 16, 2020) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that Major Drilling has completed Phase 1 drilling at the Evelyn Gold Project located 60 km NW of Caborca Mexico.

The initial 5-hole diamond drilling program measured a total of 815.6 meters in length and tested two separate mineralized corridors of initial interest named "Cerro Rojo" and "El Sahuaro".

The HQ sized diamond core drilling program was completed in 15 days and the core collected is currently being logged, split, and bagged for assay sampling at ALS Global Labs in Hermosillo. Assay results will be disclosed in due course.

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)

Figure 1

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About Colibri Resource Corporation:

Colibri is a Canadian-based mineral exploration company listed on the TSX-Venture Exchange (symbol:CBI) which is focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration in Sonora State.

For more information about 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53476

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