Excalibur Metals Expands Known Mineralized Footprint at Bellehelen

Executive Summary

• Recent rock‑sampling program at the Bellehelen Silver‑Gold Property expanded the known mineralized footprint by ~1 km to the northeast, confirming mineralization beyond prior limits.
• High‑grade assays were returned, highlighted by a float sample grading 17.35 g/t Au and 1,385 g/t Ag, and an outcrop sample 700 m off trend returning 2.93 g/t Au and 2.5 g/t Ag.
• A total of 22 grab/composite samples were assayed; results for an additional 47 chip samples are pending within two weeks, indicating further data to be released soon.

Key Details

• Sample Program: 22 grab and composite rock samples collected in October‑November 2025 from outcrops, float, and visually altered zones across the property, primarily on newly staked claims along the NE margin.
• Assay Highlights:
• Float sample (E568529) – 17.35 g/t Au, 1,385 g/t Ag (Ag over‑limit analysis by ALS code Ag‑OG46).
• Outcrop sample (E598778) – 2.93 g/t Au, 2.5 g/t Ag, located ~700 m off the historic trend.
• Other Notable Assays:
• Sample E568774 – 0.59 g/t Au, 5.4 g/t Ag.
• Sample E568781 – 0.88 g/t Au, 11 g/t Ag.
• Remaining samples generally low‑grade (<0.13 g/t Au) but collectively support a broad mineralized system.
• Geographic Expansion: New samples extend the mineralized zone ~1 km NE of the original property boundary, confirming the structural model’s prediction of a larger target area.
• Pending Results: Assays for an additional 47 chip samples (outcrop and float) are expected within two weeks, potentially adding further high‑grade intersections.
• Quality Assurance/Control: Samples collected with hammer/chisel, GPS‑recorded locations, transported to ALS USA (Reno) for fire assay (Au) and aqua regia digestion (ICP‑AES). QA/QC protocol included blanks; no significant issues identified.
• Qualified Person Review: Dr. Alan Wainwright, QP, has reviewed and approved all technical information disclosed.

Notable Quotes

“The recent rock‑sampling program has significantly expanded the mineralized footprint beyond what was previously defined,” – John Gilbert, CEO, Excalibur Metals Corp.
“The identification of mineralization in this new area supports our evolving structural model and highlights a much larger target than originally anticipated.” – John Gilbert

Materiality Assessment: Non‑Material – Positive (exploratory assay results that enhance the company’s project outlook but do not constitute a material financial event).