Excalibur Resources Ltd.
CNSX : XBR

Excalibur Resources Ltd.

September 15, 2011 09:30 ET

Excalibur Resources Ltd.: Permit Progress at Catanava Project in Mexico

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT WKN:A0MMDH) (the "Company") is pleased to report on the progress towards production in its 49% subsidiary, Minera Catanava S.A. de C.V. ("Catanava"). Work completed includes:

  • 250 tpd ball mill, cone and jaw crushers have been delivered
  • 3 large ore bins with capacity of 100 and 150 tons have been fabricated and delivered
  • 7 buildings erected - security, explosive, fuse, first aid, assay laboratory, office, storage
  • heavy metal doors and head frames have been installed over the various shafts
  • a submersible pump has been installed and the water tank has been tested
  • installation of the rebar and cement for the plant foundation has begun and should be completed in September to allow for the set up of the ball mill, crushers and ore bins in October and test production in November

The permitting process is progressing well as follows:

Change in Land Use Permit has been approved

Environmental Impact Statement (EIS)

The EIS application was submitted to the SEMARNAT in June, has been reviewed, and appears to be in order subject to clarifying some technical data on the tailings design.

Explosive Permit

The Mayor of Pinos and the Governor of Zacatecas signed the application which was sent to the Department of Defense for final approval.

Power

Our project and facilities for the 500 KVA were approved and authorized by the Federal Electricity Commission(CFE) in August, hence, lighting and power for equipment is operational.

Water Permit

The National Water Commission(CNA) will allow the use and pumping of the water in the San Luis shaft to the arroyo. However, a permit is still required for use in production, which is expected shortly.

The Catanava project is in the 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 in 1993-4, Hecla Mining Company 1995-7, and by Romarco Minerals from 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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