Colibri Resource Corporation Advances Growth Strategy to Unlock Value at EP Gold Project and Pilar Joint Venture
Colibri Resource Corporation Advances
Growth Strategy to Unlock Value at EP Gold
Project and Pilar Joint Venture
Dieppe, New Brunswick--(Newsfile Corp. - September 16, 2025) - Colibri Resource Corporation (TSXV:
CBI) (OTC Pink: CRUCF) (FSE: 2CO1) ("Colibri" or the "Company") is pleased to provide a corporate
update, outlining near-term initiatives to advance its 100%-owned EP Gold Project and highlight the
significant potential of its 49% interest in the advanced Pilar Gold-Silver Project in Sonora, Mexico.
Positioned for Growth in a Strong Precious Metals Market
With gold and silver trading near historic highs, Colibri is actively advancing initiatives designed to
increase shareholder value. The Company is pursuing a
staged growth strategy
focused on:
Advancing exploration at EP Gold,
Supporting development of Pilar, and
Strengthening market visibility and corporate positioning.
EP Gold Project - District-Scale Potential in the Heart of the Caborca Belt
Colibri's 100%-owned EP Gold Project (Evelyn/Plomo) covers 4,766 hectares in the Caborca Gold Belt
of Sonora, Mexico - one of the country's most prolific mining districts. The Project is strategically located
within 25 kilometres of some of Fresnillo Plc's most significant gold operations, including the producing
La Herradura Mine and Noche Buena Mine, as well as the Tajitos deposit (which is reportedly
undergoing an updated Preliminary Economic Assessment).
Figure 1 - Regional Claims map surrounding EP claims in Caborca Gold Belt - highlighting proximity to
Fresnillo Plc mines and deposits
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/266627_f04740a57493f865_003full.jpg
Work completed to date includes over 12,000 metres of drilling¹, more than 2,500 surface samples with
abundant high-grade gold values², and geophysical surveys covering over 1,000 hectares³. Yet, only
three of ten high-priority targets have been drill tested¹, leaving considerable exploration upside.
Figure 2: EP Gold Project - Surface Samples
To view an enhanced version of this graphic, please visit:
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Colibri is preparing for the next stage of work at EP, which will include:
Drill testing new zones,
Expanding areas of known mineralization, and
Applying modern exploration technologies to evaluate the full property and assess additional
historical workings for further potential.
These initiatives highlight the opportunity for EP to emerge as a
district-scale gold discovery
in one of
Mexico's most proven belts. Colibri expects to update investors on the next phases of exploration at EP
over the coming months.
Pilar JV
Colibri holds a 49% interest in the Pilar Gold-Silver Project, operated by Tocvan Ventures (CSE: TOC).
Pilar has been advanced through >24,000 metres of drilling, trenching, and surface work⁴, as well as a
1,400-tonne bulk sample completed in 2023 that returned an average head grade of 1.9 g/t Au with
recoveries of ~63% using simple heap leach methods⁵. Follow-up metallurgical test work demonstrated
rapid gold recovery potential of 95-99% under agitated leach conditions⁶.
In August 2025, Tocvan secured permits for a 50,000-tonne pilot mine facility approximately 1 km from
Pilar⁷. While decisions on allocation of JV material remain under review, the facility provides a
compelling option for larger-scale testing. Pilar is believed to host sufficient mineralized material to
support the full 50,000-tonne test, positioning the project for a meaningful demonstration of its potential.
The facility offers a timely and strategic opportunity for larger-scale evaluation of Pilar while gold prices
remain near record highs.
Near-term catalysts for Pilar include:
Initiation of the 50,000-tonne pilot bulk sample program,
Delivery of a maiden resource estimate, and
Completion of a Preliminary Economic Assessment (PEA).
Strengthening the Balance Sheet & Market Awareness
To support these project milestones, Colibri is advancing a broader corporate strategy that includes:
Debt Conversion/New Debenture
: With previous debentures now expired, the Company is
encouraging holders to convert outstanding debt into equity or participate in a new debenture
financing under revised conditions.
Equity Financing
: Evaluating financing options to ensure Colibri is well funded to advance
exploration and corporate objectives.
Marketing Initiatives
: Targeted campaigns designed to expand visibility and attract new investor
interest.
Additional updates on these initiatives are expected in the near term.
Management Commentary
"Colibri is executing a clear, staged growth plan at an opportune time for precious metals,"
said
Ian McGavney, President & CEO
.
"With district-scale exploration potential at EP and Pilar
advancing toward development with infrastructure now permitted nearby, Colibri is well
positioned to deliver meaningful value for shareholders."
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved
by Mark Smethurst, P.Geo., [Director of Colibri], a Qualified Person as defined by National Instrument
43-101.
References
1
.
Colibri Resource Corp. News Release, June 15, 2023.
"Colibri Completes 2023 Drilling Program
at Evelyn Project."
2
.
Colibri Resource Corp. News Release, Nov 20, 2022.
"Surface Sampling Program Returns High-
Grade Results at EP Project."
3
.
Colibri Resource Corp. News Release, May 5, 2021.
"Colibri Completes Geophysical Survey at
Evelyn Project."
4
.
Tocvan Ventures Corp. News Release, March 2024.
"Pilar Project Update: Drilling and Surface
Work Totals."
5
.
Tocvan Ventures Corp. News Release, Oct 5, 2023.
"Bulk Sample Results at Pilar Gold-Silver
Project."
6
.
Tocvan Ventures Corp. News Release, Dec 2023.
"Follow-Up Metallurgical Testing at Pilar
Demonstrates Rapid Recovery."
7
.
Tocvan Ventures Corp. News Release, Aug 14, 2025.
"Tocvan Secures Full Permit Approval for
Pilot Mine Facility at Gran Pilar."
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 Sonora, Mexico. The
Company holds three high potential precious metal projects: 1) 49% Ownership of the Pilar Gold & Silver
Project which is believed to hold the potential to be a near term producing mine, 2) 100% of EP Gold
Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results
and is surround by Mexico's second-largest major producer of gold on four sides, and 3) a 60% interest
in the Diamante Gold & Silver Project
For more information about Colibri's projects, please visit
www.colibriresource.com
or contact: Ian
McGavney, President, CEO and Director, Tel: (506) 383-4274,
.
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.
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