TORONTO, ONTARIO -- (Marketwired) -- 10/27/16

Excalibur Resources Ltd. ("Excalibur" or the "Company") (CSE: XBR)(CSE: XBR.CN)(OTC PINK: EXCFF)(FRANKFURT: X9CN) announces in connection with a review by the Ontario Securities Commission (the "OSC") of the Company's technical disclosure under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") the retraction of the reference to projected cash flow referred to in the July 15, 2016 press release announcing the acquisition of an active streaming deal pipeline, as technical reports supporting same would be required.

Excalibur Resources Ltd. is a precious metals royalty and streaming company engaged in the acquisition and management of precious metal royalties, streams and similar production based interests.

On behalf of the Board of Directors:

Tim Gallagher, Chairman & CEO

Neither the Canadian Securities Exchange nor its Regulation Services Provider

accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Excalibur Resources Ltd.
Tim Gallagher
Chairman & CEO
416-925-0090
tim@excaliburresources.ca
www.excaliburresources.ca or www.metallaroyalty.com