Excalibur Completes Second Tranche of Private Placement

FOR IMMEDIATE RELEASE Toronto CNSX: XBR December 21, 2010 Frankfurt WKN: A0MMDH

EXCALIBUR COMPLETES SECOND TRANCHE OF PRIVATE PLACEMENT

Excalibur Resources Ltd. (the “Company”) announces that, further to its news release dated December 1 2010, it has completed the second tranche of a private placement and issued 850,000 Units at $0.15 per Unit, for gross proceeds of $127,500. Each Unit consists of one Non-Flow-Through common share and one share purchase warrant exercisable at $0.25 per share in the first year and at $0.30 per share in the second year. No finder’s fees were paid in connection with this first tranche.

Proceeds from the financing will be used for the Company’s Catanava gold production project in Pinos Mexico, and for general working capital needs.

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.