Excalibur Resources Ltd.

Excalibur Resources Ltd.

November 09, 2009 17:18 ET

Excalibur Completes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT WKN:A0MMDH) (the "Company") is pleased to announce that it has closed the first tranche of a non-brokered private placement announced October 5, 2009. A total of $520,000 has been raised by the issuance of 52,000,000 shares at $0.01. Of the shares issued to date, 32,500,000 qualify as Flow Through Shares under the rules of the Canada Revenue Agency.

The Flow Through proceeds from this financing are being used to explore and develop the Company's Silver King project located in Nelson, British Columbia and the Sturgeon Lake project in Ontario.

A 10% finder's fee of $10,000 was paid to an arm's length party on a portion of the private placement.

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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