Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

November 03, 2009 09:00 ET

Excalibur Discovers New Vein System

Extends Drill Program to 30 holes over 2500 meters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 3, 2009) - Excalibur Resources Ltd. (the "Company") (CNSX:XBR)(FRANKFURT WKN:A0MMDH) is pleased to report that 16 drill holes have been completed on its Silver King project for a total of over 1100 meters. 185 samples have been sent to Acme Labs in Vancouver, with an additional 200 samples ready to be shipped. The first batch of assay results is expected in two weeks. Excalibur is currently testing over 1 kilometer strike length of mineralization on the former Silver King property, with a goal of examining the near surface open pit potential of the property, followed by the deeper potential that may be amenable to underground mining. Excalibur geologists report the discovery of a new well mineralized vein system on the property, and indicate that most drill holes have intersected visually significant mineralization. Due to the number of near-surface intersections of mineralization, Excalibur is extending the program to approximately 30 drill holes and up to 2,500 meters of drilling, up from the original plan of a minimum 2,000 meters. The Silver King project of XBR is considered the premier property along the well mineralized Silver King Shear Zone, of the Western Kootenays in Southern British Columbia. The property is approximately 7 km southwest of Nelson BC, within a region that has excellent infrastructure to support exploration and mining activity, including a world class smelting facility one hour by road from the property at Trail BC. The region is experiencing a revival of exploration activity, with new and ongoing projects by Excalibur's neighbours along the 12 km trend, including Anglo Swiss Resources, Sultan Minerals and Valterra Resource.

Excalibur also reports that Tim Gallagher, Director and Chairman, has been appointed Chief Financial Officer of the Company in place of Jack Besmargian. Mr. Gallagher holds a Master of Business Administration from York University and is a Chartered Financial Analyst. Mr. Besmargian has been associated with the Company for many years, both as a director and Chief Financial Officer. The Company would like to take this opportunity to thank Mr. Besmargian for his years of service to the Company and wishes him well with his future endeavours.

Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious and base metal mineral resources.

On behalf of the Board of Directors:

Tim Gallagher, Chairman

The CNSX has neither approved nor disapproved of the contents of this press release.

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