Excalibur Clarifies Streaming Pipeline Cash Flow

Toronto CSE: XBR FOR IMMEDIATE RELEASE OTC: EXCFF Frankfurt: X9CN October 27, 2016

Toronto, Canada: Excalibur Resources Ltd. (“Excalibur” or the “Company”) (CSE:XBR) (OTC: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: For more information please contact:

Tel: 416-925-0090

“Tim Gallagher” Email: [email protected]

Chairman & CEO www.excaliburresources.ca www.metallroyalty.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.