Mr. John Gilbert reports

EXCALIBUR METALS ANNOUNCES 2026 ANNUAL GENERAL MEETING RESULTS

Excalibur Metals Corp. has released the voting results from its 2026 annual general meeting (AGM), held on Sept. 15, 2026, in Vancouver, B.C. All motions presented to shareholders were approved.

A total of 5,974,000 common shares were voted at the meeting, representing 9.39 per cent of the issued and outstanding shares at the record date. A summary of the results is outlined in the attached table.

At the meeting, shareholders elected John Gilbert, the company's chief executive officer, and Gernot Wober as new directors of the company, joining the existing directors that were re-elected: Lewis Lawrick, Ken Engquist and Lisa Dea. As Excalibur continues to advance its exploration strategy at Bellehelen, the company is strengthening its leadership with individuals whose technical expertise and industry experience are closely aligned with its next stage of growth.

Mr. Wober is a professional geologist with approximately 35 years of international mineral exploration and project development experience. Most recently, he served as vice-president of exploration at First Nordic Metals, leading exploration across the company's portfolio. Previously, as vice-president of exploration at Discovery Silver (now Discovery Mining), he played a key role in identifying and acquiring the Cordero silver deposit in Chihuahua, Mexico, and advancing it from the resource stage through feasibility and toward permitting, as well as supporting the Porcupine complex acquisition from Newmont. Mr. Wober previously served as vice-president of exploration, Canada, at Osisko Mining Inc., where he led exploration activities at the Windfall gold project and contributed to the discovery of the high-grade Lynx zone. His earlier roles include senior positions with Great Basin Gold Ltd., Northern Dynasty Mines Inc., Oban Mining Corp., Lac Minerals Ltd., Noranda Exploration Company Ltd., Taseko Mines Ltd. and Chevron Canada Resources Ltd.

Mr. Gilbert has more than 18 years of experience as an exploration and mine geologist in North America, with broad surface and underground experience across multiple facets of mineral exploration. Prior to joining Excalibur, Mr. Gilbert served as vice-president of exploration and corporate development of Silver Range Resources Ltd., and operated a successful private prospect generator focused on developing and vending precious metals projects in New Brunswick. Mr. Gilbert holds a bachelor's degree in geology from the University of Massachusetts Amherst and a master's degree in structural geology from the University of Vermont.

Brian Shin and Charanjit Hayre did not stand for re-election at the AGM but will remain as company advisers. The company thanks them for their service and contributions to Excalibur as directors.

About Excalibur Metals Corp.

Excalibur Metals is 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 and on the OTCQB Venture Market under the symbol EXCBF.

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