Colibri Reports 2013 Drilling Program Results at the Colibri (Pitaya) Gold Project in Sonora, Mexico, Including 4.0 metres of 0.9 g/T Au and 1.5 metres of 1.71 g/T Au and 54.0 g/T Ag

VANCOUVER, July 22, 2013 /CNW/ - Colibri Resource Corporation ("Colibri" or the "Company") (TSX.V-CBI) is pleased to provide an update of exploration activities at the 6418.5 hectare Colibri Gold Project near the town of Caborca in Sonora, Mexico. In March of 2011, Colibri entered into an option and joint venture agreement with the current project operator, Agnico Eagle Mines Limited ("AEM"). Please refer to Company news release dated March 2, 2011 for details. AEM refers to the project as the Pitaya Project. AEM has met the expenditures needed to earn-in to a 51% share of the project.

The Colibri/Pitaya Project is prospective for orogenic-style gold deposits. It is located 50 kilometres to the southeast of the La Herradura Mine, and 20 kilometres to the southeast of the Noche Buena Mine. Both mines have combined resources of over 4.0 million ounces of gold (Dec 31, 2011, SRK proven and probable resource, based on 56% ownership).

There is considerable exploration activity in the area. In 2012, Minera Penmont drilled 12 exploration holes immediately to the east of the Colibri (Pitaya) Project on their adjacent concession. All of these holes are within one kilometer of the property boundary, along strike to the southeast of mineralization in the El Pliegue Zone.

AEM initiated the 2013 diamond drill program on March 15th. Four NQ-size core holes and a total of 856.5 metres were drilled, with three of the holes drilled in the El Diente Zone (to the north of the property) and one in the El Pliegue Zone (on the east-central part of the property). A table with drill hole coordinates, orientation, and final depths is included at the end of this news release. Highlights from the drill program are shown in the table below, and full results are shown at the end of the news release.

HOLE
NUMBER
FROM
(m)
TO
(m)
LENGTH
(m)
Au
(g/T)
Ag
(g/T)
ZONE
 
DI-13-002 37.50 41.50 4.00 0.91 1.00 El Diente
  45.50 57.70 12.20 0.36 2.30  
PL-13-005 225.70 229.00 3.30 0.86 25.64 El Pliegue
including 225.70 227.20 1.50 1.71 54.00  
  256.00 261.00 5.00 0.48 4.00  

NOTE - Sample intervals are core widths and do not represent true widths.

AEM has drilled 6553 metres in 24 holes at the Colibri/Pitaya Project from the initiation of the 2012 drill program to date. Five different zones have been tested, most of which have returned significant gold and silver intercepts (please refer to Company news release dated May 16, 2013). AEM is currently reviewing data and results in order to plan future exploration work at the Colibri/Pitaya Project. The Company is pleased with the quality of work and results AEM has generated, and looks forward to continued exploration success.

Sample Protocol

AEM has a QA/QC protocol in place which includes the use of certified standards, blanks, and duplicate samples, and secure care and custody of samples.

Diamond drill core was logged, photographed, and then cut in half with a diamond saw under supervision of Company geologists. The Company maintained a secure chain of custody while transporting half-core samples to ALS Chemex de Mexico S.A. de C.V. facility in Hermosillo, Mexico.

Samples were analyzed using an AEM-specific analytical package coded as MXEX7, which includes gold analysis by fire assay and an atomic absorption and over-limits gravimetric finish, silver analysis by atomic absorption, and a package of 31 elements by ICP (induced coupling plasma). ALS Chemex' quality management system complies with International Standards ISO/IEC 17025:2005 and ISO 9001:2008 and meets all established criteria as related to reporting requirements for mining and exploration companies under National Instrument NI-43-101.

Company Information

Colibri Resources is a Canadian exploration company focused on the exploration and development of base and precious metal projects in Mexico. Cary Pothorin, P.Geo., a qualified person as defined in National Policy 43-101, is responsible for all technical information contained in this news release.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the British Columbia Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.

TABLE OF SIGNIFICANT COLIBRI/PITAYA 2013 AEM DIAMOND DRILL INTERCEPTS

HOLE
NUMBER
FROM
(m)
TO
(m)
LENGTH
(m)
Au
(g/T)
Ag
(g/T)
ZONE
 
DI-13-001 15.00 22.70 7.70 0.39 1.60 El Diente
DI-13-002 37.50 41.50 4.00 0.91 1.00 El Diente
  45.50 57.70 12.20 0.36 2.30  
DI-13-003 No significant results El Diente
PL-13-005 133.50 137.00 3.50 0.32 0.57 El Pliegue
  207.00 209.00 2.00 0.33 4.50  
  214.70 216.20 1.50 0.42 1.33  
  225.70 229.00 3.30 0.86 25.64  
including 225.70 227.20 1.50 1.71 54.00  
  256.00 261.00 5.00 0.48 4.00  

NOTE - Sample intervals are core widths and do not represent true widths.

COLIBRI/PITAYA PROJECT 2013 DRILL HOLE LOCATIONS

HOLE UTM N UTM E AZIMUTH INCL. DEPTH ZONE
  NAD 27 MEXICO DATUM (degrees) (degrees) (m)  
DI-13-001 3420089.581 364106.200 350 -55 198.0 EL DIENTE
DI-13-002 3427822.775 365184.108 350 -55 199.5 EL DIENTE
DI-13-003 3427794.547 364808.611 350 -55 159.0 EL DIENTE
PL-13-005 3425058.396 368181.365 55 -55 300.0 EL PLIEGUE
          856.5  

SOURCE: Colibri Resource Corporation

For further information:

Lance Geselbracht, P.E., President and Chief Executive Officer
Tel: (250) 755-7871


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