Mr. Ron Goguen reports

COLIBRI REPORTS SIGNIFICANT ASSAY RESULTS ON ITS PITAYA PROPERTY INCLUDING 20.96 G/T AU OVER 2.2 METRES AS RECEIVED FROM J.V. PARTNER AGNICO EAGLE MINING LTD.

Colibri Resource Corp. has released drill results for the Pitaya project in Sonora, Mexico, as received from joint venture partner, Agnico Eagle Mines Ltd. Pitaya is a joint venture project with Agnico Eagle and is immediately adjacent to and on strike from Fresnillo's Tajitos discovery, in which greater than 328,000 ounces of gold have been announced. Agnico Eagle is the operator of the Pitaya project and currently holds 66.33 per cent of the joint venture, with Colibri controlling 33.67 per cent. Agnico Eagle has had two drills operating at Pitaya (see press release dated April 10, 2017); a total of 7,286.55 metres in 26 drill holes were drilled in the most recent campaign and assays have been received for 23 holes to Nov. 30, 2017. Drilling is still in progress.

Highlights of results from this year's drilling are as follows:

• PTY-17-003 -- 2.2 metres of 20.96 grams per tonne gold and 57 grams per tonne silver from 181.6 metres;
  • And 20.0 metres of 0.42 g/t Au from 243 metres;
• PTY-17-010 -- 19.0 metres of 0.50 g/t Au from four metres;
  • Including 1.0 metre of 6.66 g/t Au from 12 metres;
  • And 32.1 metres of 0.45 g/t Au from 107.9 metres;
• PTY-17-016 -- 27.0 metres of 0.37 g/t Au from three metres;
  • And 65.0 metres of 0.30 g/t Au from 182 metres;
  • Including 33.2 metres of 0.46 g/t Au from 213.9 metres;
  • Including 16.4 metres of 0.76 g/t Au from 230.7 metres;
• PTY-17-018 -- 25.0 metres of 0.80 g/t Au from 56 metres;
  • Including 13.6 metres of 1.20 g/t Au;
• PTY-17-019 -- 37.1 metres of 0.55 g/t Au from 170 metres;
  • Including 4.0 metres of 2.63 g/t Au;
• PTY-17-023 -- 29.3 metres of 0.57 g/t Au from 139 metres;
  • Including 3.0 metres of 3.06 g/t Au and 5.0 metres of 1.14 g/t Au.

Qualified person and National Instrument 43-101 disclosure

Jackie E. Stephens, PGeo, the qualified person for Colibri on the Pitaya exploration, as defined in NI 43-101, has reviewed and approved the technical information in this press release.

The company announces that, further to its Oct. 6, 2017, news release, it has issued 66,666 common shares at a deemed price of 15 cents per common share to settle an indebtedness of $10,000 due to Ed Stringer, a director of the company, in connection with services rendered as an officer of the company during the period from January, 2017, to June, 2017. The common shares issued pursuant to this transaction are subject to resale restrictions until April 8, 2018, under applicable securities legislation.

The company also wishes to announce it has cancelled the second tranche of its private placement announced on Aug. 29, 2017, the first tranche of which closed on Sept. 6, 2017.

The company has retained Mackie Research Capital Corp. for market stabilization and liquidity.

About Colibri Resource Corp.

Colibri is a Canadian mineral exploration company listed on the TSX Venture Exchange focused on acquiring and exploring properties in Mexico.

We seek Safe Harbor.