Colibri continues to expand Near-Surface Silver-Lead-Zinc Mineralization at Ramard Project, Sonora, Mexico



    Listed TSX-V: CBI

    VANCOUVER, March 12 /CNW/ - Colibri Resource Corporation has received
assays from percussion drilling of an additional 13 percussion drill holes
(RPD33 - RPD45) in a minimum 50 hole program on the Ramaje Ardiente (Ramard)
Project in Sonora, Mexico. The Ramard Project is held by an option agreement
to acquire 100% ownership of 8,419 hectares made between the Mexican
subsidiary of Colibri, Minera Halcones SA de CV, and a private Mexican
company. Exploration focus is on approximately 4 square km of skarn and
hornfels in Paleozoic sedimentary rock adjacent to felsic porphyry intrusive
rocks. The project covers the old "La Bronca" silver mines. All the holes were
drilled vertically into skarn beds that dip 15 to 20 degrees thus drill
intervals reported represent near true widths.
    This recent drilling has expanded the known zones of "manto" style high
grade silver, lead and zinc to the west and northwest of prior drilling (see
drill hole location map posted on www.colibriresourcecorp.com). The
mineralized zone remains open in all directions (see News Releases of June 12,
2006, January 25, 2007, and February 12, 2007). Mineralization is present in
part as oxide form and part as galena and sphalerite with pyrite. Several
holes encountered difficult ground conditions and were terminated prior to
reaching target depths. Drilling is ongoing.

    
    Results include:

    -   RPD37 cut 453.9 gpt silver (13.3 ounces per short ton), 5.56% lead,
        4.76% zinc over 3m between 19.5 and 22.5m depth. This intercept
        occurs within an interval 13.5m long between 13.5m and 27m that
        averages 126.8 gpt silver (3.7 ounces per short ton), 1.6% lead, 1.7%
        zinc
    -   RPD42, cut 77 gpt silver, 1616 ppm copper, 0.92% lead, 11.42% zinc
        over 6m between 21 and 27m depth. This intercept occurs within a 21m
        interval that averages 28.2 gpt silver, 0.38% lead 4.53% zinc between
        9 and 30m depth.
    -   RPD44, cut 193.9 gpt silver, (5.7 ounces per short ton) 2.03% lead
        2.06% zinc over 3m between 21 and 24m depth. This hole occurs
        directly along strike from holes RPD1, RPD2, RPD7, RPD8 and is
        thought to cut the same mineralized "manto" horizon, extending its
        apparent strike length to greater than 200m.

                                               average average
                                                Conc.   Conc. average average
            location                            Silver   Cu     Conc.   Conc.
    Hole       UTM     Total  interval   width   gpt     ppm   Lead %  Zinc %

    RPD33   518546E      18m     0-18m     18m    3.9    156    0.01    0.47
            3285813N

    RPD34   518357E      27m    12-24m     12m   26.6    9.3    0.41    0.68
            3285714N

    RPD35   518333E      30m    21-30m      9m     33     20    0.63     0.9
            3285683N

    RPD36   518326E    31.5m   0-31.5m   31.5m      4   23.8    0.03    0.08
            3285714N

    RPD37   518390E      30m  13.5-27m   13.5m  126.8     34     1.6     1.7
            3285732N         19.5-22.5m     3m  453.9     37    5.56    4.76

    RPD38   518398E    13.5m  12-13.5m    1.5m    2.7     29    0.08    0.61
            3285761N

    RPD39   518379E    31.5m  12-13.5m    1.5m   10.4     11    0.17    0.83
            3285739N          21-22.5m    1.5m    1.7     18    0.03    0.77

    RPD40   518435E      18m  No significant values
            3285797N

    RPD41   518450E      24m    12-15m     3m    18.8   96.5    0.06    0.19
            3285785N

    RPD42   518404E      30m     9-30m     21m   28.2    811    0.38    4.53
            3285766N            21-27m      6m     77   1616    0.92    11.4

    RPD43   518409E    31.5m  10.5-13.5m   3m     9.3   23.5    1.08    0.51
            3285491N

    RPD44   518382E    31.5m  16.5-24m    7.5m   95.5  43.6     1.31    1.12
            3285527N            21-24m      3m  193.9    87     2.03    2.06

    RPD45   518381E    31.5m    21-24m      3m   36.3   743     2.04    1.41
            3285501N
    

    Silver is reported as gpt, grams per metric Tonne, copper as parts per
million, zinc and lead in weight percent. Gold is not usually assayed due to
low concentrations anticipated in this geologic setting.
    Air track percussion drilling utilizes a surface air driven hammer with
2.25 inch wide bit and associated compressor. Samples are typically 5 kg of
rock chips over 1.5m intervals. Each sample is split on site with a Jones
splitter and half of the sample taken to Sonora Sample Preparation Lab,
Hermosillo, Mexico, and then transported to Vancouver, B.C. by International
Plasma Labs. The remaining half of the bagged sample is stored in Hermosillo
for archival purposes.

    J.J. Irwin, B.Sc., Ph.D. is the qualified person under national
instrument 43-101 and has reviewed this release.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents herein.

    %SEDAR: 00021936E




For further information:

For further information: Lance Geselbracht, P.E., (604) 669-7591;
www.colibriresourcecorp.com


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