TORONTO, ONTARIO--(Marketwire - May 29, 2012) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT:X9CN) provides an update on its warrants outstanding and recent warrant expirations. In the period March 12 to May 26, 2012, 6,376,998 warrants expired unexercised. It is anticipated a further 2,972,972 warrants, mostly priced at $0.40 per share, will also expire on July 12, 2012. A further 5,300,000 warrants exercisable at $0.30 per share are due to expire November 26 to December 31, 2012. The total number of warrants expiring in 2012 is 14,644,970. The recent financing added 4,030,267 warrants (8,060,535 half warrants exercisable at $0.20 per share for one year) so there are now a total of 26,731,267 warrants exercisable at $0.15 per share in the first year and $0.20 per share in the second year, expiring at various dates in 2013-2014.
One investor has exercised a total of 800,000 warrants at $0.15 per share for proceeds of $120,000.
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.
Contact Information:
Tim Gallagher
Chairman
416-987-0298
info@excaliburresources.ca
www.excaliburresources.ca