| ||February 23, 2012|
EXCALIBUR RESOURCES ARRANGES PRIVATE PLACEMENT
| ||Excalibur Resources Ltd. ("Excalibur" or the "Company") announces that it has arranged a nonbrokered private placement of 6,190,000 Units at $0.10 per Unit for a total of $619,000. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share during the first year, and at $0.20 per share in the second year.|
The Company will pay an 8% cash commission on a portion of the funds raised. Net proceeds will be applied to working capital and to the Company's Catanava gold production project in Mexico.
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.
The CNSX has neither approved nor disapproved of the contents of this press release.
On behalf of the Board of Directors:
For more information please contact:
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