Mr. Lance Geselbracht reports

COLIBRI ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Colibri Resource Corp. has closed its previously disclosed non-brokered private placement of units. In total, the company issued a total of 12 million units at a price of 20 cents per unit, for gross proceeds of $2.4-million.

Each unit issued pursuant to the private placement consists of one common share of the company and one share purchase warrant. Each warrant is exercisable into one common share at an exercise price of 35 cents per common share until April 6, 2013. In the event that the closing price of the common shares on the TSX Venture Exchange is 60 cents or higher for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof through the issuance of a news release; in such case the warrants will expire on the 30th day after the date on which such notice is given by the company.

All of the common shares and warrants issued pursuant to the private placement are subject to a four-month hold period that expires on Aug. 7, 2011.

Finders acting in connection with the private placement will receive a finder fee in the total amount of $112,350 and a total of 561,750 finder warrants, each finder warrant entitling the holder thereof to purchase one common share until April 6, 2013.

An insider of the company acquired a total of 2.45 million units in the private placement. The insider participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that the fair market value of such insider participation did not exceed 25 per cent of the company's market capitalization.

The proceeds from the private placement will be used for general working capital for Colibri's operations in Sonora, Mexico, including the previously announced 2,000-metre drill program at the Ramard silver project near the municipality of Carbo, Sonora.

Ramard silver project

Previous drill programs at the La Bronca and Verde zones intercepted concentrations of up to 1,235 grams per tonne (gpt) silver (Ag), greater than 20 per cent combined lead/zinc (Zn/Pb) and 1 per cent copper (Cu) over widths of 1.5 metres, all at less than 40 metres depth from the surface. Nine of the 95 total borings contained a silver intercept greater than 310 gpt (10 troy ounces). Mineralization in the Bronca zone (81 holes) occurs over a length of at least one kilometre and a width of at least 300 metres. All eight drill holes at the Verde zone cut zinc mineralization within skarned calcareous shale and limestone. RPD83 cut 10.5 metres averaging 7.25 per cent zinc between the surface and 10.5 metres depth.

We seek Safe Harbor.