Excalibur Resources Ltd.

Excalibur Resources Ltd.

August 15, 2011 11:07 ET

Excalibur Completes First Tranche of Financing

TORONTO, ONTARIO--(Marketwire - August 15, 2011) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT WKN:A0MMDH) (the "Company") announces that, further to news releases dated May 18, 2011 and July 15, 2011, it has completed a first tranche of a private placement of 5,780,000 Units at $0.10 per Unit. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share until August 12, 2013 and at $0.20 per share until August 12, 2013. No finder's fees were paid in respect of this tranche.

Net proceeds will be used to further the Company's exploration programs on the Silver King Property near Nelson, British Columbia, the Sturgeon Lake Property in northwestern Ontario, and its Catanava gold production project in Mexico, as well as 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.

On behalf of the Board of Directors:

Tim Gallagher, Chairman

Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.

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