Excalibur Intersects 360 g/t Silver & 2 g/t Gold over 1.52m at Bellehelen; 100m Broad Mineralized Zone Remains Open at Depth

• Excalibur Metals Corp. released partial results from its maiden reverse circulation (RC) drilling program at the Spyglass Ridge Target of its Bellehelen Silver-Gold Project in Nevada.
• Drill hole BH26001 returned a high-grade intercept of 1.52m at 360.0 g/t Ag and 2.03 g/t Au, embedded within a wider 100.58m intercept averaging 16.7 g/t Ag and 0.10 g/t Au.
• The wider zone remains open at depth, confirming a vertically extensive epithermal-style system extending to at least 300m.
• Additional holes (BH26002-006) returned mostly below-detection-limit values, while BH26004 showed anomalous gold.
• Four holes (BH26007-010) are still pending. Follow-up drilling is scheduled for late 2026 or early 2027 to test continuity and geometry.
• The company is also preparing first-pass drilling at the Rangefront Target.

• The results serve as a proof-of-concept for the Spyglass Ridge target, validating the geological model established through prior surface sampling, CSAMT geophysics, and alteration mapping.
• However, the high-grade intercept is narrow (1.52m true-width assumed at 80-90% of reported width), and the broader zone is low-grade (0.10 g/t Au). This is typical for early-stage epithermal systems but does not yet indicate economic mineralization.
• The news is a direct follow-up to the April 2026 drilling commencement announcement. The market likely priced in the expectation of maiden results, limiting immediate upside.
• No resource estimate, economic study, or financing event accompanies this update. It is an incremental exploration milestone rather than a valuation inflection point.

• Excalibur Metals is an exploration-stage company focused on the Bellehelen Silver-Gold Project in Nye County, Nevada, located within the Walker Lane Trend.
• The property hosts a >10 km mineralized trend with historic production of ~311,000 silver-equivalent ounces (early 1900s) and historic surface assays up to 11.25 g/t Au and 3,490 g/t Ag.
• Key targets include Spyglass Ridge (maiden drilling complete), Rangefront (alteration cell under cover), and North Tybo (recently acquired 1,000 acres near Kinross' Round Mountain mine).
• Management emphasizes fast-track permitting on federal/state lands and proximity to major mining infrastructure.