Colibri Resource Corporation Announces Postponement of Interim Filings

Dieppe, NB. April 24, 2020. (CBI-TSXV) Colibri Resource Corporation (“Colibri” or the “Company”) wishes to announce that, that due to logistics and delays caused by the COVID-19 virus, the Company is relying on the exemption provided in Blanket Order 51-507 (Temporary Exemption from Certain Corporate Finance Requirements) of the New Brunswick Financial and Consumer Services Commission (and similar exemptions provided by the securities commissions in British Columbia, Alberta and Ontario) to postpone the filing of its interim unaudited consolidated financial statements for the period ended Feb. 29, 2020, as required by Section 4.2 of National Instrument 51-102 (Continuous Disclosure Obligations), and its related management's discussion and analysis for the period ended Feb. 29, 2020, as required by Section 5.1(2) of NI 51-102 (the “Interim Documents”).

According to the New Brunswick Blanket Order, during the period from March 23, 2020 to June 1, 2020, a person or company required to make certain filings as described in the New Brunswick Blanket Order has an additional 45 days from the deadline otherwise applicable under New Brunswick securities laws to make the filing. ICPC expects to file the Interim Documents by no later than the extended deadline of June 13, 2020.

Until the Company has filed the Interim Documents, members of the Company's management and other insiders will observe a trading blackout consistent with the principles in Section 9 of National Policy 11-207 - Failure- to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Colibri confirms that, other than disclosed in prior press releases, there have been no material business developments since the filing on March 30, 2020 of the Company's annual audited consolidated financial statements and related management discussion and analysis for the year ended November 30, 2019.

We seek safe harbour.

About Colibri Resource Corporation:

Colibri is a Canadian mineral exploration company listed on the TSX-V(CBI) focused on acquiring and exploring properties in Mexico.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

SOURCE: Colibri Resource Corporation

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