Excalibur Metals Defines New Silver-Gold Soil Anomalies North of Spyglass Ridge

Excalibur Metals Corp. (EXCL) has announced expanded soil sampling results from its Bellehelen Silver-Gold Project in Nevada. The company identified a new target area named "Zigs," located 500 m east-northeast of the existing Spyglass Ridge target. Zigs exhibits coincident gold and silver anomalies, with gold up to 449 ppb and silver up to 2.0 ppm across a ~300 m by 300 m area.

The company also expanded the "Broken Cabin" target area approximately 700 m north of Spyglass Ridge, measuring ~300 m by 600 m. Broken Cabin returned gold up to 331 ppb and silver up to 7.8 ppm. These results define a prospective corridor extending roughly one kilometer north from the area tested by the maiden drilling program.

Soil samples were collected at 25m intervals using a hand auger and analyzed for trace-level gold and multiple elements. Excalibur plans to integrate these geochemical results with geological, structural, and geophysical datasets to guide the upcoming exploration program.

Excalibur Metals Corp. (EXCL) released a routine follow-up to its previous exploration updates and the maiden drilling program completed in mid-2026. The announcement confirms the presence of a broader hydrothermal system featuring multiple silver-gold-bearing structures rather than a single trend. While the geochemical data is encouraging, it represents surface soil anomalies and does not yet constitute a drill-ready high-grade intercept or a resource estimate.

The market likely anticipated these incremental exploration updates as part of the standard progression from soil sampling to drilling. The announcement does not materially alter the company's valuation or timeline, as the next drill campaign is already scheduled for late 2026 or early 2027. Additionally, the resignation of the VP of Exploration noted in July remains a minor governance risk, but the CEO's comments reinforce continued execution on the exploration thesis.

Excalibur Metals Corp. (EXCL) is a precious metals exploration company focused on the Bellehelen Silver-Gold Project in Nye County, Nevada. The flagship project sits within the Walker Lane Trend, a prolific structural corridor known for major gold and silver deposits. Bellehelen hosts a 10-kilometer mineralized trend with historical production of approximately 311,000 silver-equivalent ounces from the early 1900s. Historic surface sampling returned high-grade assays up to 11.25 g/t gold and 3,490 g/t silver.

The company has expanded its land position through direct staking, holding over 270 claims covering approximately 5,600 acres. The exploration strategy focuses on identifying both high-grade epithermal veins and broader bulk-tonnage targets using modern geophysical and geochemical techniques.