Excalibur Resources Arranges Private Placement

FOR IMMEDIATE RELEASE Toronto CNSX: XBR February 23, 2012 Frankfurt WKN: A0MMDH

EXCALIBUR RESOURCES ARRANGES PRIVATE PLACEMENT

Excalibur Resources Ltd. (“Excalibur” or the “Company”) announces that it has arranged a nonbrokered private placement of 6,190,000 Units at $0.10 per Unit for a total of $619,000. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share during the first year, and at $0.20 per share in the second year.

The Company will pay an 8% cash commission on a portion of the funds raised. Net proceeds will be applied to working capital and to the Company’s Catanava gold production project in Mexico.

Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious and base metal mineral resources.

On behalf of the Board of Directors: For more information please contact:

Tel: 416-987-0298

“Tim Gallagher” Email: [email protected]

Chairman Website: www.excaliburresources.ca

The CNSX has neither approved nor disapproved of the contents of this press release.