Goldhills Holding Ltd. press release

Colibri Resource Corporation Discovers Mineralized Quartz Veins in Sub-Crop at its Evelyn Property, Mexico - Samples as high as 4.81 grams per tonne

2019-06-03

TSXV - TSX Venture Exchange · Copper · Molybdenum · Silver · Gold · Zinc · Canada

Canada NewsWire

DIEPPE, NB, June 3, 2019

DIEPPE, NB, June 3, 2019/CNW/ - (TSXV: CBI) Colibri Resource Corporation ("Colibri" or the "Company") is pleased to announce that it has received additional assays from its geological mapping and sampling program on the Evelyn property, in northern Sonora, Mexico. Results from grab samples include values of 4.81 g/t Au and 4.19 grams per tonne ("g/t") Au from an area not previously mapped or sampled.

Recent and on-going geological mapping and sampling on the Evelyn property has been aimed at following up anomalies from a soil geochemistry survey completed in 2011. The samples returning 4.81 g/t Au and 4.19 g/t Au were collected from an area comprised of abundant quartz in sub-crop with local iron-oxide staining. The newly discovered area was located by following up an anomalous soil sample of 0.33 g/t Au and is located approximately 1 km north-northeast of the Main Zone. The Main Zone consists of a moderately to steeply dipping Au-bearing quartz vein which has been the subject of historical mining. Recent sampling of the Main Zone vein by Colibri returned grab sample values of up to 43.1 g/t Au (see Colibri news release dated March 26th, 2019).

In addition to on-going geological mapping and sampling at Evelyn, the Company is planning a property wide, high density, airborne magnetic survey. The objective of the integrated exploration approach is to determine the structural framework of the property and the setting of known gold mineralization. Based on the outcome of this phase of exploration, advanced exploration activities being contemplated by the Company include trenching, 3D Induced Polarization surveys, and drilling on selected targets. The Evelyn property has not been previously drill tested.

About Evelyn

The Evelyn property is located in northern Sonora, within the Caborca Gold Belt ("CGB"). The CGB is hosted by the Sonoramegashear, which in turn is part of the regional Mojave-Sonoramegashear, which extends from southern Californiathrough Arizonaand Sonora. The Caborca Gold Belt hosts the Noche Buena Mine (167,200 ounces Au produced in 2018) which is located approximately 9 km southwest of Evelyn and La Herradura Mine (474,200 ounces Au produced in 2018) which is located approximately 30 km to the west of Evelyn. Geological mapping completed by Company geologists confirm that the Evelyn property hosts Orogenic-type lode Au mineralization similar to that described for other gold deposits within the CGB.

Qualified Person

Jackie E. Stephens, P. Geo for Colibri is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

For more information about all of our projects please visit: www.colibriresource.com.

We seek safe harbour.

About Colibri Resource Corporation:

Colibri is a Canadian mineral exploration company listed on the TSX-V(CBI) focused on acquiring and exploring gold 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 oraccuracy 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

View original content: http://www.newswire.ca/en/releases/archive/June2019/03/c2786.html

Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.comCopyright CNW Group 2019