Excalibur Resources Ltd.

Excalibur Resources Ltd.

October 15, 2010 11:18 ET

Excalibur Provides Results of Soil Gas Hydrocarbon Survey on Sturgeon Lake

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2010) - Excalibur Resources Ltd. (the "Company" or "Excalibur") (CNSX:XBR)(FRANKFURT WKN:A0MMDH) provides the results of the most recent Soil Gas Hydrocarbon (SGH) survey from its Sturgeon Lake property in Northwestern Ontario. The results have been given the highest possible rating (6.0 out of 6.0) for each of three closely spaced targets by ActLabs of Ancaster, Ontario for their indication of the presence of Volcanogenic Massive Sulphide (VMS) type mineralization. These SGH anomalies are coincident with previously indentified high-priority VTEM geophysical and magnetic anomalies, and are also coincident with recently completed Enzyme Leach zinc and copper anomalies. The SGH and Enzyme Leach (EL) geochemistry were processed by Actlabs of Ancaster, Ontario from soil samples taken every 50 meters in five 100 to 200 meter spaced lines across the target area. Excalibur is currently in the process of preparing to drill these high priority targets. The SGH results are obtained from organic chemistry on soil samples and reflect the interaction of bacteria with VMS type sulphides; the Enzyme Leach (EL) results are obtained from analysis of the upper most B-horizon soils. The electromagnetic survey was flown and processed by Geotech of Aurora, Ontario.

The SGH results are described by Dale Sutherland of Actlabs as follows, "After review of all of the SGH Pathfinder Class maps, the SGH results from these soil samples suggest a "rating of 6.0" for the areas within the black dotted oval interpretations that cover the three main apical anomalies on the plan view maps for Lines 19 through 23 on page 22. SGH predicts that VMS mineralization exists directly beneath these areas as a vertical projection."

In addition, Excalibur has received assay results from its first two Drill Holes. Hole SL-10-02 intersected anomalous gold over 26.12 meters with values of up to 0.42 g/t gold over 1.28 meters. Narrow intervals of anomalous zinc (up to 0.2%) and copper (up to 0.09%) were also reported.

Dr. Hamid Mumin, Ph.D., P.Eng., P.Geo, a Qualified Person under the meaning of National Instrument 43-101, 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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