Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

September 23, 2010 12:48 ET

Excalibur Provides an Update of the Sturgeon Lake Exploration Program

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2010) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT:WKN: A0MMDH) (the "Company" or "Excalibur") is pleased to provide an update on the exploration activities at the Sturgeon Lake property in northwestern Ontario. Approximately 1700m of the 4000m drilling program has been completed. Disseminated to massive sulphides including pyrrhotite, pyrite with various amounts of chalcopyrite and sphalerite have been observed in drill core from all 11 holes drilled to date. In hole SL-10-02 all 142m of the core contained from trace to massive sulphides. Assays of the drill core are expected shortly.

Assays of grab samples have been received that have yielded values up to 0.5 g/tonne gold, 0.34% zinc and 0.1% copper. In addition, Excalibur geologists have found boulders containing stockwork to massive sulphides in a hydrothermal structural breccia. These boulders have been found to have a siliceous matrix with iron manganese carbonate alteration, which is similar to the alteration seen near the Mattabi Mine that produced 12 million tons of zinc-copper-silver-gold ore to the west of the Sturgeon Lake property.

Exploration activities on the Sturgeon Lake property are overseen by Dr. Hamid Mumin, Ph.D., P.Eng., P.Geo, a Qualified Person under the meaning of National Instrument 43-101. He has reviewed and approved the content of this press release.

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:

"Jim Kendall"
President and CEO

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

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