Colibri Resource Corp. updates brokered, private placement

    Listed TSX-V: CBI

    VANCOUVER, March 29 /CNW/ - Colibri Resource Corporation announces that
the brokered, private placement of 7,000,000 units has been adjusted to $0.40
per unit from the originally announced $0.45 per Unit for a total gross
proceeds of $2,800,000. Each Unit will still consist of one common share and
one full, non-transferable share purchase warrant. Each warrant will entitle
the holder to purchase an additional common share of the Company at a price of
$0.70 per share for a period of one year.
    This placement is subject to the approval of the TSX Venture Exchange
Inc. The proceeds of the private placement will be used primarily for
exploration and drilling on the Company's Sonora, Mexico claim properties, as
well as for general working capital.

    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: Visit our website at or call Lance Geselbracht, P.E., (604) 669-7591

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