Excalibur Resources Ltd.

Excalibur Resources Ltd.

December 01, 2010 13:12 ET

Excalibur Completes First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - Excalibur Resources Ltd. (CNSX:XBR)(Frankfurt WKN: A0MMDH) (the "Company") announces that, further to its news release dated November 23, 2010, it has completed the first tranche of a private placement and issued 2,670,000 Units at $0.15 per Unit, for gross proceeds of $400,500. Each Unit consists of one Non-Flow-Through common share and one share purchase warrant exercisable at $0.25 per share in the first year and at $0.30 per share in the second year. No finder's fees were paid in connection with this first tranche.

Proceeds from the this portion of the financing will be used for the Company's Catanava gold production project in Pinos Mexico, and for general working capital needs.

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"

The CNSX has neither approved nor disapproved of the contents of this press release.

Contact Information