Colibri Resource Reports Drilling Progress at the San Perfecto Target, EP Gold Project, Sonora, Mexico, Within a Region Hosting Projects Operated by Fresnillo plc, Agnico Eagle, Osisko Development, Minera Alamos, and Aztec Minerals

On December 17, 2025, Colibri Resource Corporation provided a progress update on its reverse circulation (RC) drilling program at the San Perfecto target on its 100%-owned EP Gold Project in Sonora, Mexico. The company reported that 11 holes, totaling 906 meters, have been completed. Samples are currently being prepared for submission to the laboratory, with initial assay results anticipated in January. No assay results were included in this release.

The most recent news is a routine operational update and has a neutral impact. It confirms that the company is executing the drill program announced on December 8, 2025, using the funds raised in the November 2025 private placement. While progress is positive from an operational standpoint, the market is primarily interested in results. This release contains no new material information, such as drill intercepts or grades, that would alter the company's valuation or fundamental outlook.

A review of the company's news flow in 2025 shows a clear progression: - Q1-Q2 2025: Focused on positive drill results from the 49%-owned Pilar JV project and a subsequent 1-for-5 share consolidation. - Q3 2025: Revealed signs of financial distress with a failed attempt to amend and extend debentures (Aug 7), followed by a corporate update signaling the need for capital (Sep 16). Financials filed for the period ending Sept 30, 2025, confirmed a critical cash position of only C$6,734 and a working capital deficit exceeding C$1.8 million. - Q4 2025: Successfully addressed the immediate liquidity crisis by closing an over-subscribed private placement for gross proceeds of ~C$1.49 million (Oct-Nov). The stated use of proceeds was to fund exploration at its Mexican projects, including EP Gold.

The commencement of drilling at EP Gold (Dec 8) and this subsequent progress report (Dec 17) are the direct and expected outcomes of the recent financing. The company is delivering on its stated plan, but this does not constitute a material event. The true catalyst will be the assay results, which the company has guided for January. Until then, this news is simply a confirmation that work is underway.

Colibri Resource Corporation is a Canadian-based junior mineral exploration company focused on acquiring and developing gold and silver properties in Sonora, Mexico. The company's portfolio includes: - EP Gold Project (100% owned): Now the company's primary focus, this 4,766-hectare project is located in the Caborca Gold Belt, a prolific region hosting major mines. Colibri is currently conducting its first significant drill program on the property following a successful financing. - Pilar Gold & Silver Project (49% owned): A joint venture with Tocvan Ventures (51% owner and operator). Pilar is a more advanced-stage project with over 24,000 meters of historical drilling and a completed bulk sample. It is advancing towards a larger 50,000-tonne test mine, a maiden resource, and a PEA. - Diamante Gold-Silver Project (100% owned): An earlier-stage exploration project where the company consolidated ownership in May 2025.