Excalibur Resources Ltd.: Cariboo Property Update

Excalibur Resources Ltd.: Cariboo Property Update 
TORONTO, ONTARIO -- (Marketwire) -- 02/08/13 -- Excalibur Resources
Ltd. ("Excalibur" or the "Company") (CNSX:XBR)(FRANKFURT:X9CN) is
pleased to provide an update on its 2012 work program at its Cariboo,
Princess and Cleopatra properties in south-eastern B.C.,
approximately 7 kilometres south of Nelson. 
From 2008 to 2011, Excalibur conducted mapping and sampling programs
in the area, the results of which lead to a 2011 trenching program.
The 2012 trenching and drilling program on the Cariboo property was a
continuation of exploration work to follow up positive results from
the previous work. 
In 2012, Excalibur completed two trenches where four chip samples
were taken, and 29 BQTW size diamond drill holes totalling 1,469
metres. Most of this work was designed to fully assess the potential
of the gold-silver bearing quartz carbonate vein system described as
the Cariboo Vein. A very brief prospecting program was conducted on
both the Cleopatra and Princess claims. This included the acquisition
of five rock samples from the Princess claim and a single sample from
the Cleopatra claim. Samples of rocks taken from some of the old
workings on the Princess claim returned elevated copper and gold
values, with over 1% copper, 40 grams per tonne silver and 0.4 grams
per tonne gold from sample PR12-02. The sample taken from the
Cleopatra claim (sample CLEO12-01) did not return any significant
values. 
The Cariboo Vein extends along strike for approximately 120 metres
and down-dip for a distance of 80 metres below surface. This target
vein was intercepted numerous times during the 2012 drill program.
Many of the multiple intercepts from drilling can be composited into
wider intercept widths - intercepts of 2 metres to 5.5 metres width.
Diamond drill core sampling assay results indicate a strong
correlation between elevated silver and elevated gold values.
Mineralization also includes lead, zinc and in places copper. Hole
12Car-16 provided the highest gold value with 11.1 grams per tonne
(plus 92 grams per tonne silver) over 1.28 metres. The most
significant results were press released on November 29th, 2012 and
can be found on www.sedar.com or on Excalibur's web site at
www.excaliburresources.ca. The vein is open to depth,
 and could be
explored for its south extent. 
Excalibur is one of a number of companies in the region that have
found gold including the following immediate neighbours of Excalibur: 


 
--  Sultan Minerals Inc. which has a joint venture with Altair Gold Inc.
    which has 1 million+ measured, indicated and inferred gold ounces. 
--  Valterra Resources Corp. which has a number of gold intercepts including
    4 grams per tonne Au + 9 grams per tonne Ag over 24.3 metres. 
--  Emgold Corp which drilled 1495 metres in 2012 with intercepts including
    11.1 grams per ton gold over 1.45 metres.

 
Along with much exploration activity this past year, the region also
experienced merger and acquisition (M&A) activity. A few kilometers
to the north of the Cariboo, Anglo Swiss Resources Inc. recently
announced the sale of its Kenville Gold Property to a private
company. Sultan Minerals Inc. entered a joint venture on a property
neighbouring Excalibur's Cariboo Property. We expect more activity in
the region, which not only reflects the difficult financing
conditions for junior miners, but also the ample opportunities there.
Excalibur's management views this region very favorably where over 5
million ounces of gold and 30 million ounces of silver have been
mined, which is not only endowed with minerals and has excellent
infrastructure, but is also steeped in mining tradition with an
experienced workforce. 
Tim Gallagher states that "We are pleased with the results of our
2012 work program, verifying what we had expected. We have just
received the final Assessment Report from our consulting geologist on
this year's activities. There are now a number of options that we can
pursue including bulk sampling, additional exploration, property
acquisition, or any combination thereof, but most likely we will
await further development by our neighbours as Mexico is our primary
focus." 
Perry Grunenberg, P.Geo. is a "Qualified Person" for the purpose of
National Instrument 43-101, and has reviewed and verified the
technical contents of this news release. 
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. 
Contacts:
Excalibur Resources Ltd.
Tim Gallagher
Chairman & CEO
416-987-0298
info@excaliburresources.ca
www.excaliburresources.ca