Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

November 25, 2011 06:25 ET

Excalibur Resources Ltd.: Minera Catanava Project Receives SEMARNAT Permit Approval

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2011) - Excalibur Resources Ltd. (the "Company") (CNSX:XBR)(FRANKFURT WKN:A0MMDH) reports that its 49% subsidiary, Minera Catanava S.A. de C.V. ("Catanava") has received all the necessary permits required to build the plant and to go into production. The EIS application to the SEMARNAT in Zacatecas was submitted in June, was reviewed in July, followed by a site inspection in August, which lead to a request for a number of items, including a soil analysis report on the tailings area and the completion of the water permit from the National Water Commission (CNA). Tim Gallagher, Chairman of Excalibur commented, "We are extremely pleased to have achieved this major milestone. Receiving the SEMARNAT approval is the official Mexican government green light that allows Minera Catanava to proceed to the start up stage of development. This has been a tremendous amount of work and we congratulate the team in Mexico. We also expect the explosive permit shortly, but given the amount of material already on surface in the San Gil area, it is not required to start production."

Recent work at the site has been focused on the completion of the foundation in order to install the ball mill, crushers, conveyors and the recently delivered concentrators which have been sourced from www.actionmining.com.

Minera Catanava

The Catanava project is in the historic Pinos Gold District, in the State of Zacetecas, Mexico which was discovered by the Spanish in 1546 and mined until the Revolution in 1810, by Cornish miners from 1870 to 1911, and most recently by an individual miner from 1935 to 1941. Recent exploration work was undertaken through a Penoles/Bethlehem Steel JV from 1975 to 1983, All-North Resources 1993-4, Hecla Mining Company 1995-7, and by Romarco Minerals 2006-7. Minera Catanava S.A. de C.V. is 51% held by Minera Apolo S.A. de C.V. which owns and is providing the land, mineral and mining rights and management of the project, and 49% is held by Excalibur which is providing the financing.

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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