Mr. Ronald Goguen reports

COLIBRI ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS COMPRISED OF 10% UNSECURED CONVERTIBLE DEBENTURES AND WARRANTS

Colibri Resource Corp. intends to conduct a non-brokered private placement of up to 1,000 units for gross proceeds of up to $1-million (U.S.), each unit consisting of one $1,000 (U.S.) principal amount of 10 per cent unsecured convertible debentures and 5,416 common share purchase warrants. Each warrant will entitle the holder to acquire one common share of the corporation at a price of 12 Canadian cents per common share for a period of 24 months following the closing of this offering.

The net proceeds of the offering will be used for working capital and exploration expenses, including drilling on the Evelyn/Plomo and Diamante/El Mezquite/Jackie projects.

The offering is anticipated to close toward the end of July, 2023. Closing may occur in one or more tranches.

The debentures will bear interest at 10 per cent per annum, calculated in U.S. dollars, from the date of issuance, payable in arrears quarterly and upon maturity or redemption. The debentures will mature on the date that is two years from the date of issuance.

The debentures and accrued interest thereon are convertible into shares, at the holder's option, at a price of: (i) eight Canadian cents per share between closing and 12 months; and (ii) at 10 Canadian cents per common share between 12 months and one day to the maturity date, at any time prior to the maturity date. The debentures carry a fixed foreign exchange rate of $1.30 (Canadian) for each $1 (U.S.) of principal.

Closing of the offering remains subject to the acceptance of the TSX Venture Exchange. The debentures and the common shares issuable upon conversion of the debentures will be subject to a statutory hold period expiring on the date that is four months and one day after closing. The company anticipates that it will pay certain finders' fees as per the guidelines of the TSX Venture Exchange.

The offering will be conducted by the company utilizing the accredited investor exemption of National Instrument 45-106, Prospectus and Registration Exemptions, and also other applicable exemptions available to the company.

About Colibri Resource Corp.

Colibri is a Canadian-based mineral exploration company listed on the TSX-V and is focused on acquiring and exploring prospective gold and silver properties in Mexico. The company holds five highly prospective precious metal projects, all of which have exploration programs planned for calendar 2023.

We seek Safe Harbor.