Mr. Ian McGavney reports

COLIBRI RESOURCE COMPLETES PHASE 1 RECONNAISSANCE DRILLING AT THE SAN PERFECTO / BANCO DE ORO TARGETS AT THE EP GOLD PROJECT, SONORA, MEXICO; INITIAL ASSAYS RECEIVED AND ADDITIONAL SAMPLING UNDERWAY

Colibri Resource Corp. has provided an update on gold exploration drilling and assay progress at its 100-per-cent-owned El Plomo gold project, a precious metal exploration property located in Sonora, Mexico.

Summary:

• Colibri Resource has completed its phase 1 reconnaissance reverse circulation drilling program at the El Plomo gold project in Sonora, Mexico, testing multiple priority gold targets.
• Initial gold assay results have been received from drill holes completed prior to the holiday break, with additional targeted "shoulder" sampling under way to further evaluate mineralized intervals and continuity.
• Drill samples from holes completed after the holiday break are currently being prepared for shipment to the assay laboratory, with additional gold assay results pending.

El Plomo project -- phase 1 reconnaissance drilling

Colibri has completed its phase 1 reconnaissance reverse circulation (RC) drilling program at the El Plomo gold project in Sonora, Mexico. The program comprised 22 RC drill holes completed across the San Perfecto and Banco de Oro target areas, together with one RC drill hole completed at the West Sahuaro target on the Evelyn project, for a total of approximately 1,815 metres drilled. Drilling was completed in stages, with an initial stage prior to the year-end break and the remainder completed in January, 2026.

The drilling program was designed as a shallow, multitarget campaign to test priority gold targets across the El Plomo project. The program was intended to evaluate near-surface gold potential and identify geological vectors for follow-up exploration, rather than to define mineral resources. Targets were selected based on the integration of geological mapping, surface geochemistry and geophysical surveys, focusing on areas with interpreted favourable structural and lithological characteristics for gold mineralization. The areas tested during the program have seen limited modern drilling, with much of the historical work focused on surface sampling and mapping.

Drilling completed subsequent to the holiday break totalled 909 metres, including approximately 177 metres at the West Sahuaro target. Samples from the holes completed following the holiday break are currently being prepared for submission to the assay laboratory.

Initial gold assay results have been received for a portion of the drill holes completed prior to the holiday break. Preliminary review of these results, together with geological logging, indicates that gold mineralization has been intersected in multiple drill holes, occurring at shallow depths and within several geological settings, including altered felsic intrusions, oxidized volcanic rocks and structurally controlled gold zones.

Based on the distribution of gold values and geological observations from this reconnaissance drilling program, the company has initiated additional targeted sampling of previously unsampled intervals adjacent to mineralized zones (shoulder sampling) to better evaluate the continuity, thickness and geometry of gold mineralization. Assay results from this follow-up sampling, together with assays from the postholiday drilling, are pending. Colibri intends to release a comprehensive update of drilling and assay results once the analytical data set is complete and fully reviewed.

"We are pleased with the overall outcome of the maiden reconnaissance drilling program," said Ian McGavney, president and chief executive officer of Colibri Resource. "The drilling delivered a high rate of mineralized intersections across multiple targets and has provided us with a solid geological foundation. While additional sampling and interpretation are ongoing, the results to date reinforce our understanding of the system and support continued, systematic advancement of the El Plomo project."

Evelyn project -- West Sahuaro target

Historical drilling at the West Sahuaro target on the Evelyn project intercepted gold mineralization in all six holes tested during the initial discovery drilling program reported on Dec. 19, 2023, and several holes ended in mineralization, validating the geological model for further testing.

In addition to the El Plomo drilling, the company also completed a reconnaissance reverse circulation drill hole at the West Sahuaro gold target on the Evelyn project during the postholiday drilling period. The hole was drilled from a pad previously tested during the 2023 drilling program and was designed to test for lateral continuity and to extend the depth of known mineralization. The current hole was drilled from the same pad as one of the earlier holes (EVE23-198), which ended in mineralization, and was oriented at an azimuth of approximately 240 degrees compared with the earlier hole drilled due west. Samples from this hole have been collected and are pending analysis. Results will be reported once assays have been received and reviewed.

Quality assurance/quality control

All drill samples were collected, handled and prepared in accordance with industry-standard quality assurance and quality control (QA/QC) procedures and submitted to an independent accredited laboratory for preparation and analysis. Quality control protocols included the insertion of blanks, duplicates and certified reference materials.

The technical information contained in this news release has been reviewed and approved by Jamie Lavigne, PGeo, an independent qualified person as defined by National Instrument 43-101.

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