Colibri Resource Corporation has completed the sale of its 49% interest in the Pilar Gold Project in Sonora, Mexico, to Tocvan Ventures Corp. for total cash consideration of C$3.6 million, subject to final acceptance from the TSX Venture Exchange.

Under the terms of the transaction, Colibri received C$2.0 million at closing and is scheduled to receive an additional C$1.6 million on or before the first anniversary of closing. The company has also retained a 1.0% Net Smelter Return Royalty on the project, which Tocvan can repurchase at any time for C$1.0 million. Prior to the completion of the sale, the project was held as a 49% Colibri and 51% Tocvan joint venture under a definitive agreement initially announced on July 9, 2026.

Ian McGavney, President and Chief Executive Officer of Colibri, commented:

“The successful completion of this transaction marks an important milestone for Colibri. We believe the transaction delivers significant value to our shareholders through the non-dilutive monetization of our interest in the Pilar Gold Project while retaining long-term upside through the retained royalty.”

“The proceeds materially strengthen our financial position and provide the flexibility to advance our wholly-owned EP Gold Project while continuing to evaluate additional value-enhancing opportunities in Sonora.”

— Ian McGavney, President and Chief Executive Officer

The cash proceeds materially strengthen the company's financial position and provide increased flexibility following the transaction. With the divestment finalized, Colibri is shifting its principal exploration focus to its 100%-owned EP Gold Project, a 4,766-hectare land package located in the Caborca Gold Belt of Sonora, Mexico, while continuing to evaluate additional growth and strategic opportunities in the region. In the trading session coinciding with the transaction completion, shares of Colibri are currently trading at $0.095, up 5.56%.

Read the full announcement: Colibri Completes Sale of 49% Interest in Pilar for C$3.6 Million Plus 1% NSR