Colibri joint venturer Tocvan receives test mine permit

Mr. Ian McGavney reports COLIBRI CONGRATULATES JV PARTNER ON TEST MINE PERMIT; PILAR POSITIONED AS NEAR-TERM BULK SAMPLE OPPORTUNITY Colibri Resource Corp. has congratulated its joint venture partner Tocvan Ventures Corp. on receiving permit approval for a 50,000-tonne pilot mine facility in Sonora, Mexico (announced Aug. 14, 2025). Located in close proximity to the Pilar gold and silver project, a 49-per-cent-Colibri/51-per-cent-Tocvan joint venture, the facility presents an excellent opportunity to consider processing a bulk sample at a time when gold prices remain near record highs. The permitted facility will be located in very close proximity to the Pilar gold and silver project, a 49-per-cent-Colibri/51-per-cent-Tocvan joint venture. Although no plans have been finalized regarding the use of the facility for Pilar material, its location and scale present a highly compelling opportunity for the partners to consider processing a bulk sample from Pilar in an efficient, cost-effective manner. Pilar is particularly well suited for this purpose: a 1,400-tonne bulk sample completed in 2023 returned an average head grade of 1.9 grams per tonne gold with recoveries of approximately 62 per cent using simple heap leach methods. Combined with extensive drilling and surface work, sufficient material could be sourced quickly -- making Pilar an immediately available, high-quality feed source for the newly permitted facility at a time when gold prices remain near historical highs. Previously released drill highlights at Pilar (Colibri/Tocvan JV licences) 2025 diamond drilling (all lengths are drilled thicknesses): 83.5 metres at 1.3 grams per tonne gold from surface, including 10.3 g/t over 9.7 m; 64.9 m at 1.2 g/t Au, including 3.0 m at 21.6 g/t gold and 209 g/t silver -- first high-grade intercept along the North Hill trend; 116.9 m at 1.2 g/t Au, including 10.2 m at 12.0 g/t Au and 23 g/t Ag. 2024 reverse circulation drilling (all lengths are drilled thicknesses): 42.7 m of 1.0 g/t Au, including 3.1 m of 10.9 g/t Au; 56.4 m of 1.0 g/t Au, including 3.1 m of 14.7 g/t Au; 16.8 m of 0.8 g/t Au and 19 g/t Ag. 2022 phase 3 diamond drilling (all lengths are drilled thicknesses): 116.9 m of 1.2 g/t Au, including 10.2 m of 12 g/t Au and 23 g/t Ag; 108.9 m of 0.8 g/t Au, including 9.4 m of 7.6 g/t Au and five g/t Ag; 63.4 m of 0.6 g/t Au and 11 g/t Ag, including 29.9 m of 0.9 g/t Au and 18 g/t Ag. 2021 phase 2 RC drilling (all lengths are drilled thicknesses): 39.7 m of 1.0 g/t Au, including 1.5 m of 14.6 g/t Au; 47.7 m of 0.7 g/t Au, including three m of 5.6 g/t Au and 22 g/t Ag; 29 m of 0.7 g/t Au; 35.1 m of 0.7 g/t Au. 2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses): 94.6 m of 1.6 g/t Au, including 9.2 m of 10.8 g/t Au and 38 g/t Ag; 41.2 m of 1.1 g/t Au, including 3.1 m of 6.0 g/t Au and 12 g/t Ag; 24.4 m of 2.5 g/t Au and 73 g/t Ag, including 1.5 m of 33.4 g/t Au and 1,090 g/t Ag. 15,000 m of historic core and RC drilling (all lengths are drilled thicknesses): 61.0 m of 0.8 g/t Au; 21.0 m of 38.3 g/t Au and 38 g/t Ag; 13.0 m of 9.6 g/t Au; 9.0 m of 10.2 g/t Au and 46 g/t Ag. Pilar bulk sample summary: 62-per-cent recovery of gold achieved over 46-day leaching period; Head grade calculated at 1.9 g/t Au and seven g/t Ag; extracted grade calculated at 1.2 g/t Au and three g/t Ag; Bulk sample only included coarse fraction of material (three-fourths of an inch to one-eighth of an inch); Fine fraction (one-eighth of an inch) indicates rapid recovery with agitated leach; Agitated bottle roll test returned rapid and high recovery results: 80-per-cent recovery of gold and 94-per-cent recovery of silver after rapid 24-hour retention time. Additional metallurgical studies Gravity recovery with agitated leach results of five composite samples returned: 95- to 99-per-cent recovery of gold; 73- to 97-per-cent recovery of silver; Includes the recovery of 99 per cent Au and 73 per cent Ag from drill core composite at 120-metre depth. "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 and chief executive officer of Colibri. "With a prior bulk sample already delivering an average grade of 1.9 g/t Au and demonstrating recoveries above 60 per cent, and with significant amounts of mineralized material already identified to move quickly, Pilar is clearly positioned for near-term evaluation. Advancing Pilar in this way would be highly advantageous to both Colibri and Tocvan shareholders, particularly with gold trading near all-time highs." About the Pilar gold and silver project The Pilar gold-silver property has returned some of the region's best drill results. Coupled with encouraging gold and silver recovery results from metallurgical testwork, Pilar is primed to be a potential near-term producer. The project is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rock. Initially, three primary zones of mineralization were identified from historic surface work and drilling -- referred to as the Main zone, North Hill and 4-T. Each trend remains open to the southeast and north, and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend. Mineralization extends along a 1.2-kilometre trend, of which only approximately half has been drill tested to date. About Colibri Resource Corp. Colibri is a Canadian mineral exploration company focused on acquiring, exploring and developing prospective gold and silver projects in Sonora, Mexico. Its portfolio includes five projects -- four currently under active exploration -- with Pilar among the highest-priority assets. We seek Safe Harbor.