Mr. John Gilbert reports

EXCALIBUR METALS OUTLINES 7KM+ SILVER-GOLD TREND AND MOBILIZES FIELD CREW TO THE BELLEHELEN PROPERTY IN WALKER LANE TREND OF NEVADA

Excalibur Metals Corp. has provided further details about the Bellehelen silver-gold property, located within the Walker Lane trend of Nevada. Excalibur has outlined a significant mineralized trend spanning over seven kilometres based on historical workings.

Bellehelen encompasses a district-scale, seven-kilometre-long mineralized trend that historically produced an estimated 311,000 silver-equivalent ounces in the early 1900s. Numerous historic workings are distributed along the entire length of this extensive corridor, highlighting a continuity of mineralization across multiple zones on the property. Historical surface sampling returned high-grade assays of up to 11.25 grams per tonne gold and 3,490 grams per tonne silver, confirming the presence of a fertile precious metal system. In addition, broad soil anomalies and extensive vein networks within the large structural corridor suggest the potential for both high-grade shoots and bulk-tonnage targets, underscoring the exceptional scale and prospectivity of the Bellehelen property.

"Bellehelen represents a virtually unexplored gold and silver district in Nevada with the potential for both high-grade and bulk-tonnage discoveries," said John Gilbert, chief executive officer of Excalibur. "The historical mines in the district, along with assay results, clearly show the scale of mineralization across multiple zones, highlighting the property's untapped potential. With our exploration work commencing, we're eager to unlock value from this underexplored district and deliver meaningful results for our shareholders."

The company is also pleased to report that its initial phase 1 exploration program, as outlined in the Sept. 24, 2025, news release, has commenced, with field crews now mobilized to site to carry out systematic mapping, sampling and target definition activities across key areas of interest.

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 qualified person 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 Metals 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 county, 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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