Excalibur Resources Ltd.

Excalibur Resources Ltd.

March 05, 2010 14:56 ET

Excalibur Resources Appoints President and Chief Executive Officer; Arranges Private Placement

TORONTO, ONTARIO--(Marketwire - March 5, 2010) - Excalibur Resources Ltd. (the "Company") (CNSX:XBR)(FRANKFURT WKN:A0MMDH) is pleased to announce that Dr. James D. Kendall has been appointed President and Chief Executive Officer of the Company. Dr. Kendall brings to Excalibur Resources a variety of past management experience at Barrick Gold Corporation. Dianne Szigety has stepped down as President to resume her duties as Corporate Secretary. The Company thanks Dianne for her dedication and service as President since August, 2009.

Dr. Kendall attended Queen's University where he completed a Masters of Mining Engineering that included studies in mineral exploration, mineral economics and geostatistics. Dr. Kendall also holds Masters and Ph.D. degrees in Electrical Engineering from Carleton University, as well as a Bachelors degree in Engineering Physics from McMaster University.

"Excalibur's board of directors is pleased to welcome Dr. Kendall as a senior officer of the Company," stated Tim Gallagher, chairman of the Company. "Dr. Kendall's education and experience will be useful in gaining the maximum advantage from modern geophysical exploration techniques for our existing Silver King and Sturgeon Lake properties, as well as the acquisition and exploration of future high potential properties."

The Company has arranged a private placement of 500,000 Units at $0.12 per Unit. Each unit consists of one common share and one share purchase warrant, exercisable at $0.16 per share for a two year period. Proceeds will be applied toward general working capital.

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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