COLIBRI PROPERTY

Colibri Resource Corporation announced that all of the conditions to the Earn-In and Shareholders Agreement dated February 28, 2011, as amended on March 24, 2011 and April 14, 2011 between the Company and Agnico-Eagle Mines Ltd. have been fulfilled.

Colibri Resource Corporation and Agnico-Eagle Mines Ltd. (AEM) announced they have signed a Letter of Intent (LOI) that allows AEM to acquire up to 75 percent of the Colibri gold claim in Sonora, Mexico and form a joint venture by making qualified exploration expenditures and payments to Colibri. The LOI is conditional upon the approval of AEM and Colibri's Board of Directors, the completion of due diligence by AEM and approval by the TSX Venture Exchange.

Colibri Resource reported that the option contracts to acquire the Colibri, Ramard and Leon Projects have been officially exercised and 100% of the mineral rights for all of these claim packages have been legally transferred to Minera Halcones SA de CV, the Mexican subsidiary of Colibri.