Colibri Appoints McGavney as President and CEO
Colibri Appoints McGavney as President and
CEO
Dieppe, New Brunswick--(Newsfile Corp. - September 22, 2023) - The Board of Directors of Colibri
Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) ("Colibri" or the "Company") is pleased to
announce the appointment of Ian McGavney as the President and Chief Executive Officer of the
Company. The Company also wishes to announce the retirement of Ron Goguen Sr. from the position of
President and CEO.
Ron joined the Colibri Board of Directors as Co-Chairman in 2013 and was
appointed President and CEO in 2017.
The Board of Directors wishes to extend the Company's sincere
thanks to Ron for his dedication in directing and managing Colibri and building a Company which now
has multiple discovery opportunities. Mr. Goguen will continue to provide strategic leadership as the
Executive Chairman of the Board of Directors and will continue to manage the Company's drilling
operations.
Mr. McGavney has been serving as Colibri's Chief Operating Officer since 2018 and has worked very
closely with Mr. Goguen building a shared vision of growth. From 2003 to 2009 he was founder and
President of Skye Capital Corporation Inc., a private consulting company, which assisted in the founding,
financing, and management of investee companies. From 2009 to 2016, Mr. McGavney served as an
investment advisor with TD Bank Group. Since 2016, he has been an independent financial consultant
and active board member to several public and private companies in the mining, consumer packaged
goods and technology sectors.
The Company has assembled large land positions with exceptional exploration potential in two world
class gold and silver mining districts in Sonora, Mexico.
The Company owns and operates its own drill
rig providing for very cost effective exploration.
Colibri's highly experienced Board of Directors looks
forward to enhanced shareholder value through continued exploration success with the Company's
current properties, as well as evaluation/acquisition of additional exploration and development
opportunities, and enhanced marketing efforts.
Further to the Company's news releases of August 4
th
and September 12
th
, 2023 with respect to its
recently completed non-brokered private placement of convertible debenture units, for clarification, both
the detachable common share purchase warrants and the finder's options are exercisable at $0.12 CAD
per share for a period of 24 months from the date of issuance.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on
acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds
a total of six high potential precious metal projects which comprise highly prospective land positions in
two world class precious metal mining districts.
The Evelyn and Plomo properties (the EP Gold Project) are contiguous and cover a total of 4,766
hectares located in the Caborca Gold Belt of northwestern Sonora.
The Caborca Gold Belt is
characterized by orogenic-type gold deposits and includes currently producing and past producing
mines, current exploration and development projects, and numerous gold occurrences.
The EP project is
located approximately 25 kilometres from La Herradura Mine which has combined past production and
current resources of more than 15 million ounces Au.
The Diamante, Mezquite, and Jackie properties are located in the Sierra Madre Epithermal Gold-Silver
Belt which spans eastern Sonora and western Chihuahua states.
The Diamante, Mezquite, and Jackie
properties are all located in the Tepoca area of Sonora and cover a total area of 2,337 hectares.
Major
mines in the district include Alamos Golds' Los Mulatos Mine and Agnico Eagle's La India and Pinos
Altos Mines.
The Jackie property is contiguous with Minera Alamos' Santana Au development project
which is anticipated to declare commercial production before year end.
The Pilar Gold-Silver Project is interpreted as a low sulphidation epithermal deposit located in the Sierra
Madre foothills west of the Tepoca area properties.
The Pilar Property, 100% owned by Colibri, is
subject to an option agreement with Tocvan Ventures Inc. who, after satisfying certain expenditure and
payment terms, can earn an initial 51% interest and upon earning 51% of the property will have a six-
month period during which they can purchase the remaining 49% of the project for $2 million cash,
Colibri will retain a 2% NSR and Tocvan will have the option to purchase 1% of the NSR for $1 million.
The Pilar Project is at an advanced exploration stage with Tocvan currently completing a test mining
heap leach operation.
Exploration programs are planned for all properties during 2023 and early 2024.
For more information about all Company projects please visit:
www.colibriresource.com
.
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.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not
purely historical are forward-looking statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those projected in the forward-
looking statements. Although the Company believes that the plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be
accurate.
For information contact: Ian McGavney, President/CEO and Director, Tel: (506) 383-4274,
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/181491