Location

TORONTO, ONTARIO–(Marketwired – Dec. 2, 2013) – Excalibur Resources Ltd. (“Excalibur” or the “Company”) (CNSX:XBR)(OTCQX:EXCFF)(FRANKFURT:X9CN) is pleased to report sample results from the recently initiated development of the Natas Vein at its 49% Catanava Property (60% pending the closing of October 8, 2013 deal with Minera Apolo), after recent work in the mine confirmed the continuity of high-grade gold-silver mineralization in this area. This vein is exposed at surface less than 100 meters east of the plant and will be connected with the southwest extension of the Camino adit. It was first mapped and sampled in 2012 by the Company with good results.


The Natas Vein is part of the Cinco Estrellas vein system which is marked by numerous horsetail structures. Development of this higher grade gold vein is the current focus of the Catanava gravimetric plant as higher grades lead to higher recoveries, pending the installation of a flotation circuit to capture the fine gold and silver. It is important to note that this zone is open laterally and vertically forming high grade ore shoots and that exploration and development in both directions is expected to increase the known mineralized volume.


The opening and the preparation of the Natas Vein adit started in September. The development of the Natas Vein is currently on two levels approximately totalling 125 meters. The Upper Level or “Bloque Superior” is prepared from surface to confirm the high grades, while access from Rampa Camino will connect with Natas Level 01 approximately 35 m below. Subsequently, both mine drifts will connect with raises for ventilation and prove the lateral and vertical continuity of ore shoots. Finally, when the stope is completed, the ore will be mined systematically through traditional Cut & Fill methods and/or a stope ramp.


“This new vein highlights the opportunity and the challenge to increase the resource base and our plan to develop high-grade areas. Production from Natas together with the production of other areas, such as Camino, should reach 100 tons per day (TPD) in the next few months and eventually attain 300 TPD by the end of 2014, but we need to rapidly develop the mineralized areas that will provide feed for the mill,” commented Tim Gallagher, Chairman & CEO.


Systematic sampling of development headings have delineated a high grade ore shoot that has been opened laterally over 30 meters in length. In addition, the Camino vein yielded good grades at Drift 12N, however, the development connects with old workings and currently mine engineers are reviewing the safety conditions in order to determine whether to continue with development.


Table 1 lists some representative results from the recent sampling program. Although the assay results are somewhat erratic some very high grades were obtained from the core of the sampled veins and this material is being selectively mined as much as is possible. We expect mill head grades to rise significantly for these veins.


Table 1 – Natas and Camino – selected mine sample assay results


LEVEL/ WIDTH Au Ag
MINE AREA (m) COMMENTS ALS ID g/t g/t
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
sulphides, visible free
Natas Bloque Superior 0.50 gold 742464 19.15 55
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
Natas Bloque Superior 0.60 massive, calcite area 742468 3.29 45
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
pervasive banded,
argentite, visible free
Natas Bloque Superior 0.30 gold 742469 174.5 1030
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
sulphides, visible free
Natas Bloque Superior 0.30 gold 742476 43.1 152
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
Natas Bloque Superior 0.50 sulphides 31973 4.73 76
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
Natas Bloque Superior 0.35 sulphides 31996 8.25 41
——- —————- —– ———————– —— —– —-
Greenish – white quartz
Natas Bloque Superior 0.90 vein, massive 31997 2.55 49
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
Natas Bloque Superior 0.40 sulphides 1309 27.2 39
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
Natas Bloque Superior 0.90 sulphides 1310 32.8 46
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
sulphides, visible free
Natas Bloque Superior 0.50 gold 1313 15.1 64
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
banded, massive qtz,
microscopic gray
Natas Bloque Superior 0.60 sulphides 1320 9.31 17
——- —————- —– ———————– —— —– —-
Greenish – yellowish
quartz vein, banded,
massive qtz,
microscopic gray
Natas Bloque Superior 0.40 sulphides 1321 1.76 45
——- —————- —– ———————– —— —– —-
Greenish – yellowish
quartz vein, banded,
massive qtz,
microscopic gray
Natas Bloque Superior 0.30 sulphides 1332 2.41 91
——- —————- —– ———————– —— —– —-
Greenish – yellowish
quartz vein, banded,
massive qtz,
microscopic gray
Natas Bloque Superior 0.75 sulphides 31968 3.54 441
——- —————- —– ———————– —— —– —-
Greenish quartz vein,
Natas Bloque Superior 0.60 banded 1326 0.899 166
——- —————- —– ———————– —— —– —-
Natas Bloque Superior 0.40 Greenish – yellowish 1327 1.04 490
quartz vein, banded,
massive qtz,
microscopic gray
sulphides
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.50 Greenish quartz vein, 742444 0.313 201
partially banded,
massive qtz, argentite
and microscopic gray
sulphides
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.40 Greenish quartz vein, 742445 1.07 95
partially banded,
massive, argentite
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.50 Greenish quartz vein, 742449 0.88 48
partially banded,
massive
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.55 Greenish quartz vein, 742451 2.11 128
partially banded,
massive qtz, argentite
and microscopic gray
sulphides
——-  —————-  —–  ———————–  ——  —–  —-
Camino Fte.12 Norte 0.50 Greenish quartz vein, 742457 3.48 222
partially banded,
massive, argentite
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.50 Greenish – yellowish 742467 20.3 223
quartz vein, partially
banded, massive,
argentite
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.30 Greenish quartz vein, 742478 10.85 145
partially banded,
massive qtz, argentite
and microscopic gray
sulphides
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.25 Greenish quartz vein, 742479 2.89 267
partially banded,
massive
——- —————- —– ———————– —— —– —-
Camino Fte.12 Norte 0.35 Greenish quartz vein, 742481 12.4 384
partially banded,
massive, argentite,
crustiform and comb
textures
——- —————- —– ———————– —— —– —-
Camino Rpa-Camino 0.30 vein of greenish 31987 2.43 4
quartz, massive,
selective banded
texture
——- —————- —– ———————– —— —– —-

Quality Control


The quality assurance-quality control (QA-QC) program employed by Excalibur Resources has been described in previous press releases. Certified standards and blanks are inserted alternately at each ten sample positions in all batches of samples. Samples were prepared at ALS Chemex facilities of Zacatecas, México and assayed in ALS Chemex Vancouver by Fire Assay – AA, 30 gr.


The technical content of this news release has been approved by Charles Beaudry, M.Sc, P.geo., géo, a Director of Excalibur Resources and Qualified Person as defined in NI 43-101.


Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious metal mineral resources.


On behalf of the Board of Directors:


Tim Gallagher, Chairman & CEO


Neither the Canadian National Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.


Excalibur Resources Ltd.


416-987-0298


[email protected]


www.excaliburresources.ca

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