Colibri Resource Advances First-Pass Drill Program at San Perfecto and Priority Targets, EP Gold Project, Sonora, Mexico, Within a Region Hosting Projects Operated by Fresnillo plc, Agnico Eagle, Osisko Development, Minera Alamos, and Aztec Minerals

Rhea-AI Summary

Colibri Resource (CRUCF) resumed reverse circulation (RC) drilling in the Plomo area of its 100%‑owned EP Gold Project in Sonora, Mexico, continuing a first‑pass, systematic exploration program.

Prior to year‑end the company completed 11 RC holes totalling ~906 metres at San Perfecto and Banco de Oro; samples were submitted for assay in December and assays are expected to begin arriving in early February, subject to lab turnaround. Colibri plans an additional 6–10 RC holes to expand testing across priority targets in Plomo.

Dieppe, New Brunswick--(Newsfile Corp. - January 15, 2026) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that it has resumed reverse circulation ("RC") drilling in the Plomo area of its 100%-owned EP Gold Project in Sonora, Mexico.

The current phase of work is designed to systematically evaluate priority structures and targets identified within the Plomo area, which has seen limited historical drilling, using a disciplined, first-pass exploration approach.

Prior to the year-end break, the Company completed an initial phase of drilling at the San Perfecto and Banco de Oro targets consisting of eleven (11) RC drill holes totaling approximately 906 metres, with samples submitted for assay in December.

The resumed program continues the first-pass evaluation of the San Perfecto target, while expanding testing to additional priority targets identified within the Plomo area. The Company plans to complete an additional six (6) to ten (10) RC drill holes as part of this phase of work.

The Plomo area hosts multiple exploration targets within the broader EP Gold Project and has experienced minimal historical drilling. Colibri's ongoing work at Plomo is part of a systematic, staged exploration strategy aimed at evaluating multiple targets across the area through a reverse circulation (RC) drilling program at the EP Gold Project.

Samples from the Company's December drilling campaign are currently at the laboratory. Based on current laboratory guidance, the Company anticipates that assay results from these initial drill holes may begin to be received in early February, subject to laboratory turnaround times. Results will be reported once received, compiled, and reviewed.

"This phase of work represents a disciplined continuation of our first-pass exploration strategy at Plomo," said Ian McGavney, President & CEO of Colibri Resource Corporation. "Our focus remains on systematically evaluating priority targets through careful execution and data collection, while maintaining operational momentum as we await results from the initial drill program."

About Colibri Resource Corporation

Colibri Resource Corporation (TSXV: CBI) is a Canadian junior mining company engaged in the acquisition, exploration, and development of precious metal properties, with a focus on gold exploration in Sonora, Mexico. Colibri holds a 100% interest in the EP Gold Project, a 49% joint venture interest in the Pilar Gold & Silver Project, and a 60% interest in the Diamante Project.

For more information on Colibri Resource Corporation and its projects, please visit www.colibriresource.com.

Qualified Person

The technical and scientific information contained in this news release has been reviewed and approved by Jamie Lavigne, P.Geo., an independent Qualified Person as defined in National Instrument 43-101.

ON BEHALF OF THE BOARD

Ian McGavney
President, CEO & Director
Tel: (506) 383-4274
Email: ianmcgavney@colibriresource.com

Notice Regarding Forward-Looking Statements:

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.

This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280507

FAQ

What did Colibri Resource (CRUCF) announce about drilling at EP Gold Project on January 15, 2026?

Colibri resumed RC drilling in the Plomo area, completed 11 holes (~906 m) earlier, and plans 6–10 more holes.

When does Colibri expect assay results from the December 2025 RC holes at EP Gold Project (CRUCF)?

The company anticipates assay results may begin to be received in early February 2026, subject to laboratory turnaround times.

How many metres of drilling has Colibri completed at San Perfecto and Banco de Oro (CRUCF)?

An initial phase comprised eleven RC holes totaling approximately 906 metres.

Which targets is Colibri testing in the Plomo area of the EP Gold Project (CRUCF)?

The program is focused on San Perfecto, Banco de Oro and additional priority structures identified within the Plomo area.

Will Colibri report assay results from the EP Gold Project (CRUCF) publicly?

Yes; results will be reported once received, compiled, and reviewed.

Does Colibri own the EP Gold Project targeted by the January 15, 2026 drilling update (CRUCF)?

Yes; Colibri holds a 100% interest in the EP Gold Project in Sonora, Mexico.