Mr. John Gilbert reports

EXCALIBUR METALS ANNOUNCES PLANS FOR PHASE 1 EXPLORATION PROGRAM AT THE BELLEHELEN SILVER-GOLD PROPERTY IN NEVADA

Excalibur Metals Corp. has released details regarding its 2025 exploration plans for the Bellehelen silver-gold property located within the Walker Lane trend of Nevada. The property consists of a low-sulphidation epithermal silver-gold prospect located in an area known for its high-grade silver and gold discoveries.

The phase 1 exploration program will focus on detailed mapping and sampling to determine the structural controls on the mineralization, a CSAMT geophysical survey to target mineralized structures, an infill soil sampling program, trenching and 2,500 metres of diamond drilling. The program is scheduled to commence mid-October and cost approximately $1.5-million (U.S.).

"We're looking forward to our 2025 exploration program for Bellehelen," said John Gilbert, Excalibur chief executive officer. "Having spent years working in Nevada's Walker Lane trend, Bellehelen is a very promising target -- a highly prospective low-sulphidation silver-gold system in a district known for high-grade discoveries. Our phase 1 program is designed to systematically advance the property with the goal of defining the structural controls on mineralization and testing priority targets. With a well-structured program and strong technical groundwork, we believe Bellehelen has the potential to deliver significant results and create meaningful value for our shareholders."

Bellehelen property

Excalibur has acquired the option to purchase 100 per cent of Bellehelen. The property covers a historic mining district that once produced an estimated 311,000 silver equivalent ounces in the early 1900s. High-grade samples collected on site show impressive potential, with gold values up to 11.25 grams per tonne and silver up to 3,490 g/t, alongside large gold-in-soil anomalies extending over 1,300 metres in length. Current data indicate the potential for a large, structurally controlled low-sulphidation precious metal system underlying a three-plus-kilometre-long multielement soil anomaly.

Dr. Alan Wainwright, a consultant of the company, is a qualified person as defined by National Instrument 43-101. Dr. Wainwright has reviewed and approved the technical information disclosed in this news release. The QP has not verified the historical data, but verification of these data will be done through the company's planned exploration activities. For additional information on the Bellehelen project, please refer to the technical report titled "Bellehelen Property NI 43-101 Technical Report" with an effective date of Aug. 15, 2024, filed on SEDAR+.

About Excalibur Metals Corp.

Excalibur is a Canadian company focused on exploring for precious metals within established mining areas in the western United States. The company has acquired the option to purchase 100 per cent of the Bellehelen project in Nye country, central Nevada. The claims cover most of the historic Bellehelen mining district, where gold and silver were initially discovered and mined in the early 1900s. Excalibur has assembled an exceptional team with considerable exploration, developing and permitting experience within North America. Excalibur is traded on the TSX Venture Exchange under the symbol EXCL.

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