Excalibur Metals Commences Maiden Drilling Program at Spyglass Ridge
NEWS RELEASE
Excalibur Metals Commences Maiden Drilling Program at Spyglass Ridge
April 21st, 2026 (TSXV:EXCL)
VANCOUVER, BRITISH COLUMBIA, Excalibur Metals Corp. (TSXV: EXCL) (“Excalibur” or the
“Company”) is pleased to announce that the Phase 1 reverse-circulation ("RC") drilling program at
the Spyglass Ridge gold -silver target (“Spyglass”) is now underway at the Company’s Bellehelen
Project (“Bellehelen” or the “Project”) in Nye County, Nevada.
Spyglass Ridge Drill Commencement
The drill contractor has mobilized to the site, and drilling has begun on the first of eight planned RC
drill holes. The initial 3,000 -meter program is designed to test high -priority gold and silver
mineralization at depth, following up on surface sampling, alteration mapping and recent CSAMT
geophysical survey that identified well -defined mineralized structures and coincident alteration
consistent with a robust gold-silver epithermal system.
"Getting the rig turning at Spyglass is a major milestone for Excalibur," said John Gilbert, CEO of
Excalibur. "This has been the focus since the Company’s qualifying transaction was completed last
Fall. Many months of preparation followed to finalize our drill targets on the technical side. For some
of us, it’s been years in the making, and we’re taking the project to the next stage. It’s very exciting
as Spyglass represents just the first of several high-priority zones at Bellehelen that we believe can
develop into a major discovery."
Grant of Incentive Stock Options
The Company also announces that it has granted an aggregate of 2,400,000 incentive stock options
(the "Options") to certain directors, officers, and consultants of the Company, in accordance with the
Company’s Stock Option Plan. The Options are exercisable at a price of $0.235 per share for a
period of five years from the date of grant and are subject to the policies of the TSX Venture
Exchange.
Qualified Person
Technical information in this news release has been reviewed and approved by Richard Reid, CPG,
technical advisor and a "qualified person" as defined by National Instrument 43-101.
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 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 1900’s 1. Excalibur has assembled an exceptional team with considerable exploration,
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developing 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.
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 interpretation of
exploration results; planned timeline and meterage for drilling and expected drill targets; the identification of well-defined mineralized
structures and coincident alteration consistent with a robust gold -silver epithermal system ; that Spyglass represents just the first of
several high -priority zones at Bellehelen that the Company believes can develop into a major discovery ; 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 variations 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 covera ge, 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 resu lts,
performance or achievements of the Company to be materially different from any future results, performance or achievements expressed
or implied by the forward -looking information. Such factors include risks related to the Company not obtaining adequate financing to
continue operations, risks related to the delay in approval of work plans, variations in mineral resources and reserves, 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 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.