Excalibur Metals Mobilizes Bellehelen Field Crews Focusing on Two Newly-Defined Targets; Finalizes Drill Preparations for Spyglass Ridge
NEWS RELEASE
Excalibur Metals Mobilizes Bellehelen Field Crews Focusing on Two Newly-Defined Targets;
Finalizes Drill Preparations for Spyglass Ridge
April 1st, 2026 (TSXV:EXCL)
VANCOUVER, B RITISH COLUMBIA, Excalibur Metals Corp. (TSXV:EXCL) (“Excalibur” or the
“Company”) is pleased to announce that field crews have mobilized to the Company’s newly -staked
Rangefront target at the Bellehelen Project, Nye County, Nevada . Simultaneously, the Company has
completed site preparations for the maiden drilling program at the Spyglass Ridge gold-silver target, which
is set to commence in the coming weeks.
Following a comprehensive review of regional airborne remote sensing data and geochemical anomalies
from surface samples , Excalibur recently extended the Company’s land position by over 4 km to the
northwest along the Bellehelen fault (refer to March 19 th, 2026 news release ), which coincides with
epithermal-style alteration and mineralization on trend (Figure 1).
“The footprint of the Rangefront target indicates the potential scale and character we would expect to see
in a tier-one target,” said John Gilbert, CEO of Excalibur Metals. "The broad, intense alteration signature
suggests extensive and robust fluid circulation occurred and the historical artisanal gold mines nearby on
the margins of the alteration cell may be just a hint of what lies underneath – a much larger, unexplored
gold and silver system at depth . Bellehelen is the type of neighborhood where you want to b e looking in
Nevada for a standout discovery.”
The mobilized field crews are tasked with:
• Two soil geochemistry survey grids (~600 samples total) to further delineate targets: (1) the 1 x1.5
km Rangefront target and (2) extending coverage around the 400 m linear silver-in-soil anomaly at
the Broken Cabin target that lies 700 m north of Spyglass Ridge along parallel, steep east -west
structure.
• Mapping, sampling and structural evaluation of this target to identify fluid conduits and architecture
for potential silver-gold mineralization.
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Figure 1: Bellehelen silver-gold trend – 10+ km of historic artisanal workings with priority Spyglass Ridge
and Broken Cabin drill targets outlined (box). The newly-acquired Rangefront target is a priority future drill
target.
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Photo 1: Crews mobilized and camp established at Bellehelen Project, Nye County, Nevada.
Spyglass Ridge Drill Program Outline
At the Spyglass Ridge target, preparation for the Phase 1 reverse-circulation (“RC”) drilling program is
complete. The Company has finalized the construction of the main access roads and seven drill pads.
Highlights of the upcoming Spring 2026 Spyglass drill program include:
• Drill Mobilization: The drill contractor is scheduled to arrive on-site in the coming weeks.
• Targeting: The initial 3,000-meter, 8-hole RC drill program will focus on testing the gold and silver
mineralization at depth, where previous surface sampling returned broad, anomalous gold and
silver values (for details see February 26th, 2026 news release).
• Permitting: All necessary permits for the initial program are in hand.
• Spyglass Ridge drill target is summarized by John Gilbert in the short video found here.
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Dr. Alan Wainwright, a consultant of the Company, is a Qualified Person (“QP”) as defined by National
Instrument 43-101. Dr. Wainwright has reviewed and approved the technical information disclosed in this
news release.
About Excalibur Metals Corp.
Excalibur Metals Corp. 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% of
the Bellehelen Project in Nye Count y, 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 cons iderable exploration, development and permitting experience
within North America. Excalibur is traded on the TSX Venture Exchange (TSXV) under the symbol “EXCL”.
For more information, visit www.excaliburmetals.com.
EXCALIBUR METALS CORP.
On behalf of the Company
“John Gilbert”
CEO
For further information regarding this news release, please contact:
John Gilbert, CEO
604-687-3376
Notes
1 Details about the historical production and results at Bellehelen can be found in the technical report titled
“Bellehelen Property NI 43 -101 Technical Report” authored by Heather Burrell, B.Sc., P.Geo. with an
effective date of August 15, 2024 filed on SEDAR+ and referenced from Kleinhampl F.J. & J.I. Ziony.
1984a. Geology of Northern Nye County, NV. Nevada Bureau of Mines & Geology Bulletin 99A .
Management cautions that production from, or discoveries on, adjacent properties may not necessarily be
indicative to the presence of mineralization at the Bellehelen Project.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward
looking information contained in this news release includes, but is not limited to, statements with respect to the Bellehelen Project being untested,
the exceptional scale and prospectivity of Bellehelen, the Property’s untapped potential, the potential for another major discovery at Bellehelen,
the potential to unlock value from this underexplored district and deliver meaningful results for the Company’s shareholders, the timing and scale
of the drill program, details of exploration plans and the exploration and development of the Company’s mineral projects.
In certain cases, forward -looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or varia tions of such words and phrases or
state that certain actions, events or results "may", "could", "would ", "might", "occur" or "be achieved" suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information
contained in this news release is based on certain factors and assumptions regarding, among other things, the availability of financing to continue
as a going concern and implement the Company’s operational plans, metal prices, the timing and amount of future exploration expenditures, the
availability of labour , equipment and material, receipt of and compliance with necessary regulatory approvals and permits, the estimation of
insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters.
While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements expressed o r implied by the
forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operation s, risks
related to the delay in approval of work plans, variations in mineral resources and reser ves, grade or recovery rates, risks relating to the ability
to access infrastructure, risks relating to changes in commodity prices, risks related to current global financial conditions, risks related to current
global financial conditions on the Company’s business, access and supply risks, reliance on key personnel, operational risks inherent in the
conduct of exploration activities, including the risk of accidents, labour disputes, regulatory risks including the risk that permits may not be
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obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests,
environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian
securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors that cause actions, events or results n ot to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the
date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or
revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.