Colibri joint venturer Tocvan receives test mine permit

Executive Summary

• Colibri Resource Corp. congratulates JV partner Tocvan Ventures on approval of a 50,000‑tonne pilot mine permit in Sonora, providing a near‑term bulk‑sample processing option for the Pilar gold‑silver project.
• Recent drilling at Pilar continues to return high‑grade intercepts (e.g., 10.3 g/t Au over 9.7 m; 21.6 g/t Au and 209 g/t Ag) across multiple programs from 2020‑2025.
• Bulk‑sample and metallurgical work demonstrate strong recoveries (62 % gold in a 1,400‑t bulk sample; up to 99 % gold and 97 % silver on composite samples), supporting the case for an expanded near‑term bulk‑sample program.

Key Details

• Permit Approval: 50,000‑tonne pilot mine facility permit granted (announced Aug 14 2025) located adjacent to Pilar JV property.
• JV Ownership: Pilar is a 49 % Colibri / 51 % Tocvan joint venture.
• Bulk Sample History: 1,400‑t bulk sample in 2023 yielded an average head grade of 1.9 g/t Au and 7 g/t Ag with ~62 % gold recovery (agitated leach).
• Drilling Highlights – 2025 Diamond:
• 83.5 m @ 1.3 g/t Au from surface, including 10.3 g/t Au over 9.7 m.
• 64.9 m @ 1.2 g/t Au, including 3.0 m @ 21.6 g/t Au and 209 g/t Ag (first high‑grade intercept on North Hill).
• 116.9 m @ 1.2 g/t Au, including 10.2 m @ 12.0 g/t Au and 23 g/t Ag.
• Drilling Highlights – 2024 RC:
• 42.7 m @ 1.0 g/t Au, including 3.1 m @ 10.9 g/t Au.
• 56.4 m @ 1.0 g/t Au, including 3.1 m @ 14.7 g/t Au.
• Drilling Highlights – 2022‑2020 (selected): Multiple intercepts ≥10 g/t Au and ≥100 g/t Ag across phases 1‑3, confirming consistent mineralization over a 1.2 km trend.
• Metallurgical Results:
• Bulk sample leaching: 62 % gold recovery over 46 days; extracted grade 1.2 g/t Au, 3 g/t Ag.
• Agitated bottle‑roll test: 80 % Au and 94 % Ag recovery in 24 h.
• Gravity‑leach on five composite samples: 95‑99 % Au and 73‑97 % Ag recoveries; 99 % Au & 73 % Ag from a 120 m depth core sample.
• Strategic Implication: Proximity of the newly permitted processing facility enables cost‑effective bulk sampling of Pilar at a time of near‑record gold prices, potentially accelerating path to production for both shareholders.

Notable Quotes

“With a permitted processing facility now secured nearby, Pilar stands out as a ready and logical candidate for a larger bulk sample program,” said Ian McGavney, President & CEO of Colibri.
“Advancing Pilar in this way would be highly advantageous to both Colibri and Tocvan shareholders, particularly with gold trading near all‑time highs.”