New Risk • May 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.1m free cash flow). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.87m market cap, or US$2.84m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Jan 17
Colibri Resource Corporation Advances First-Pass Drill Program At San Perfecto and Priority Targets, Ep Gold Project, Sonora, Mexico Colibri Resource Corporation announced that it has resumed reverse circulation drilling in the Plomo area of its 100%-owned EP Gold Project in Sonora, Mexico. The current phase of work is designed to systematically evaluate priority structures and targets identified within the Plomo area, which has seen limited historical drilling, using a disciplined, first-pass exploration approach. Prior to the year-end break, the Company completed an initial phase of drilling at the San Perfecto and Banco de Oro targets consisting of eleven (11) RC drill holes totaling approximately 906 metres, with samples submitted for assay in December. The resumed program continues the first-pass evaluation of the San Perfecto target, while expanding testing to additional priority targets identified within the plomo area. The Company plans to complete an additional six (6) to ten (10) RC drill holes as part of this phase of work. The Plomo area hosts multiple exploration targets within the broader EP Gold Project and has experienced minimal historical drilling. Colibri's ongoing work at Plomo is part of a systematic, staged exploration strategy aimed at evaluating multiple targets across the area through a reverse circulation (RC) drilling program at the EP Gold Project. Samples from the Company's December drilling campaign are currently at the laboratory. Based on current laboratory guidance, the Company anticipates that assay results from these initial drill holes may begin to be received in early February, subject to laboratory turnaround times. Results will be reported once received, compiled, and reviewed. New Risk • Nov 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 50% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.13m market cap, or US$3.66m). 
