Colibri Resource Corporation Announces Private Placement

Dieppe, New Brunswick--(Newsfile Corp. - October 30, 2020) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") wishes to announce that, subject to regulatory approval, it intends to proceed with a non-brokered private placement of 962,500 units at $0.08 per unit for proceeds of CAD $77,000.

The units will consist of one common share and one full share purchase warrant. Each warrant entitles the investor to acquire one additional common share at $0.12 for two years from the closing of the private placement.

Funds will be used for general corporate purposes.

For more information about all of our projects please visit: www.colibriresource.com^[1].

We seek safe harbour.

About Colibri Resource Corporation:

Colibri is a Canadian mineral exploration company listed on the (TSXV: CBI) focused on acquiring and exploring properties in Mexico.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. 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. The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

SOURCE: Colibri Resource Corporation

For further information: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.com^[2]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67204^[3]