PILAR GOLD & SILVER PROJECT

Location:Suaqui Grande - Sonora
Stage:Moderate to Advanced Exploration
Ownership: 100% owned (no royalties)
- 51% Optioned to Tocvan Ventures (5 year schedule)
  - Earn In Terms: (Staged)
    - $2,000,000 exploration to be performed
    - Issuance of 5,000,000 shares of TOC + $400,000
- Tocvan reported drill intersections of 94.6m of 1.6 g/t Au including 9.2m of 10.8 g/t Au and 41.2m of 1.1 g/t Au on Feb. 9, 2021
- Colibri is significant shareholder of Tocvan
Near Surface Mineralization
Oxidized, Open Pit Heap Leach Potential, Low Sulfidation/Epithermal, Highly Fractured

Identified Mineralized zone: 1,200m x 625m
Drill tested and remains open on trend and at depth
17,700m cumulative Drilling (Core & RC) - to approx. 125m vertical depth
Average metallurgical recovery: 92% (average of three 72 hour bottle roll tests)
2,650m of Channel/Trench Sampling
- Trench samples as high as: 55.4 g/t Au over 3m, 28.6 g/t Au over 6m, and 3.39 g/t Au over 50m
Magnetic & 3DIP Surveys completed over full concession
Extensive Chip Samples & Soil Samples (mapped)
- Au in Soils in undrilled area reach as high as 2.03 g/t Au

Figure 1a: Zones of mineralization (North Hill, Main, 4-Trench) as outlined by historic drilling.
Figure 1b: 3D Inversion Magnetic Susceptibility slice at ~350m depth. NW-SE shear corridor with N-S structures bounded within.
Figure 2:3D Magnetic Inversion (_350m depth). NW-SE shear corridor bounding N-S structures.

The study has interpreted underlying structures which may have acted as the “plumbing” required to create the shallow mineralization identified near surface by historical drilling and sampling.
This structure is hypothesised to be 1000m by 250m by 300m.
Target is higher grade and continuity of mineralization associated with lower order “feeder” structure.

➢ Advanced Interpretation and Modeling - 2021

➢ Resource Infill Drilling - 2021 (Underway)

➢ Exploration Drilling - 2021 (Underway)

➢ 43-101 Compliant Resource Estimation - 2022

➢ Preliminary Economic Assessment - 2022/2023

➢ Potential Open Pit Heap Leach Operation - 2024