Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

October 05, 2009 09:00 ET

Excalibur Resources Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - Excalibur Resources Ltd. (the "Company") (CNSX:XBR)(WKN:A0MMDH) is pleased to announce that it has arranged a non-brokered private placement of up to 70,000,000 Shares at $0.01 per Share for gross proceeds of up to $700,000. A portion of the Shares to be issued pursuant to this private placement will qualify as Flow Through Shares under the rules of the Canada Revenue Agency.

A finder's fee of 10 % may be payable on a portion of the proceeds raised. Net proceeds will be used to conduct a Phase One drilling program on the Company's Silver King Property near Nelson, British Columbia and for general working capital purposes. The Company has also received approval from the exchange for debt settlement of up to 13,000,000 shares at $.01.

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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