Project Highlights:

·       Direct Staking Acquisition: 100% ownership of 50 contiguous claims (approx. 1,000 acres) with no underlying royalties or property payments.

·       Precious Metals Mineralization: Epithermal gold-silver mineralization associated with widespread argillic alteration and silicification.

·       Synergy with Bellehelen: Strategic location nearby Excalibur’s flagship Bellehelen Project with an analogous geologic environment.

·      Nearby Mining and Exploration Activity: Sixty kilometers southeast of Kinross’ Round Mountain mine, adjacent to land positions held by Newmont at the historical Tybo and Keystone Districts, and 25 kilometers north of AngloGold Ashanti’s Midnight Star project, which has seen multiple consecutive years of early-stage exploration drilling focused on an extensive epithermal alteration cell.

Management cautions that results from adjacent properties may not necessarily be indicative to the presence of mineralization at North Tybo.

The North Tybo Project is characterized by epithermal-style gold-silver mineralization on the margin of a ~30 Ma caldera complex within the Central Nevada Volcanic Field. Mineralization is associated with abundant jasperoids, formed by the silicification of carbonate rocks, and illite-altered felsic intrusions. The Project also hosts widespread argillic alteration within felsic tuffs that may indicate blind, undiscovered mineralized zones at depth. Excalibur considers the Project to be prospective for a significant gold discovery, with multiple salient structural targets that can be efficiently evaluated, prioritized, and tested.

Like North Tybo, Excalibur’s Bellehelen Project is also located near a major caldera margin within the Central Nevada Volcanic Field. Despite the fact that both of these projects exhibit widespread epithermal alteration and mineralization, the level of historical exploration work is limited compared to prospects located within caldera fields to the west and south, which include Tier-1 deposits such as Round Mountain and Arthur. Excalibur’s technical team believes that the potential of the Central Nevada Volcanic Field is under-recognized despite the fact that it contains the key geological ingredients for significant epithermal gold-silver deposits.

Excalibur is finalizing a Phase 1 exploration program at North Tybo focused on delineating drill targets through detailed geologic mapping and geochemical sampling.