Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

January 15, 2010 11:41 ET

Excalibur Intersects 3.27 Meters of 240.8 g/t Ag, 0.2 g/t Au, 1.12% Cu & 2.19% Pb

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2010) - Excalibur Resources Ltd. (the "Company") (CNSX:XBR)(FRANKFURT WKN:A0MMDH) released assay results on the remaining 15 holes from its 25 hole, 2,137 meter, fall drill program at its Silver King property near Nelson, British Columbia. The Silver King property hosts the historic Silver King mine and the Company is earning an interest in the project while investigating the deposit potential along strike and at depth. Mineralization was intersected in 24 of 25 drill holes. Most of the current diamond drilling was carried out within 50 meters of surface, with the exception of four deeper holes in the Dandy area, which tested the zone to a maximum depth of approximately 150 meters below surface. The Silver King shear zone was tested across roughly 1.1 km, with mineralization still open along strike in both directions and at depth. Highlights (in bold) include drill hole XB-09-14 which intersected 3.89 meters of 188 g/t Ag, 1.50% Cu, 0.08% Pb, 0.21% Zn and XB-09-24 with 3.27 meters of 240.8 g/t Ag, 0.2 g/t Au, 1.12% Cu, 2.19% Pb, 0.19% Zn. Re-assays for gold values are pending for 15 of the 25 drill holes.

Significant Intervals
DDH # From (m) To (m) Length (m) Ag g/t Ag oz/t Au ppb Cu % Pb % Zn %
XB-09-11 14.02 16.13 2.11 46.7 1.5 pending 0.79 0.03 0.06
XB-09-12 17.19 19.19 2.00 55.2 1.8 pending 1.67 0.01 0.03
XB-09-13 18.00 19.00 1.00 56.3 1.8 pending 0.52 0.05 0.13
  26.21 26.82 0.61 93.4 3.0 pending 0.76 0.01 0.04
XB-09-14 60.81 64.70 3.89 188.0 6.0 pending 1.50 0.08 0.21
XB-09-15 23.16 23.87 0.71 83.8 2.7 pending 0.87 0.07 0.09
XB-09-16 33.95 35.27 1.32 88.0 2.8 pending 0.59 0.69 0.16
XB-09-17 115.45 116.75 1.30 49.0 1.6 pending 0.80 0.07 0.08
XB-09-18 134.24 135.5 1.26 36.2 1.2 pending 0.30 0.00 0.05
  161.48 162.28 0.80 60.3 1.9 pending 0.08 0.18 0.07
XB-09-19 14.20 15.65 1.45 98.9 3.2 311 0.17 1.84 0.82
XB-09-20 17.66 19.68 2.02 166.3 5.3 380 0.64 3.21 2.26
XB-09-21 26.96 28.70 1.74 40.1 1.3 87 0.37 1.22 0.52
XB-09-22 124.35 125.87 1.52 32.7 1.1 108 0.40 0.20 0.33
XB-09-23 146.55 148.03 1.48 155.1 5.0 309 0.38 0.23 0.16
XB-09-24 52.21 55.48 3.27 240.8 7.7 207 1.12 2.19 0.19
XB-09-25 No significant interval            

Tim Gallagher, Chairman, comments, "We are very pleased that the 2009 drill program has validated the historical 1966-67 and 2006 drilling results, and has provided us with confirmation of:

  1. several zones with significant values;
  2. the existence of previously unrecognized veins; and
  3. that the mineralized zone extends to depth below historical drilling."

Excalibur geologists will now evaluate the results of the current and historical work, and provide an update on the potential of the system.

Assaying was carried out by ACME Labs of Vancouver using a combination of 4-acid near total digestion with ICP-OES and ICP-MS finish, and Fire Assay. Dr. H. Mumin, Ph.D, P.Eng., P.Geo, a qualified person as defined by NI 43-101 has reviewed the contents of this press release.

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 near historic mining camps.

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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