Mr. John Gilbert reports

EXCALIBUR METALS INTRODUCES THE BELLEHELEN SILVER-GOLD PROPERTY IN WALKER LANE TREND OF NEVADA

Excalibur Metals Corp. has provided further details about the Bellehelen silver-gold project, located within the Walker Lane trend of Nevada. Excalibur has signed a definitive agreement with Silver Range Resources granting Excalibur an option to purchase 100 per cent of the Bellehelen project.

"With a large, mineralized trend spanning over seven kilometres, much of which remains untested, we believe Bellehelen represents a priority exploration target for Excalibur," said John Gilbert, chief executive officer of Excalibur. "Bellehelen is situated in a prolific district that hosts major producing precious metals mines and continues to see major new discoveries. Combined with highly promising geology on site, we believe Bellehelen offers excellent potential for a Tier 1 discovery."

Bellehelen consists of a low-sulphidation epithermal silver-gold prospect located approximately 70 kilometres east of Tonopah and consists of 90 federal lode claims. The project is located within the Walker Lane trend of Nevada, an area known for its high-grade silver and gold discoveries. Nearby major deposits include the Round Mountain mine (historic production of approximately 15 million ounces gold and proven and probable reserves of 1.88 million ounces of gold), the Tonopah silver district (historically produced approximately 174 million ounces of silver and 1.8 million ounces of gold) and Anglogold Ashanti's advanced Arthur gold project (previously Silicon-Merlin) with an inferred mineral resource of approximately 14 million ounces gold.

Bellehelen history

The Bellehelen district has a rich history of production, with an estimated 311,000 ounces of silver equivalent mined between the early 1900s and 1930s. Numerous historic workings, including shafts and adits, confirm the presence of mineralized systems across several zones on the project. These past operations provide valuable evidence of mineralization but have never been systematically tested with modern exploration methods.

High-grade assays from historical surface samples have returned gold values of up to 11.25 grams per tonne and silver values of up to 3,490 grams per tonne. In addition, extensive soil anomalies and vein systems within a large structural corridor demonstrate the presence of both high-grade and bulk-tonnage mineralization styles, including a gold-in-soil anomaly extending over 1,300 metres.

Coming programs will focus on detailed mapping, geochemical and geophysical surveys, trenching, and eventual drilling, designed to test continuity, expand known zones and potentially define new discoveries. Further details about the company's 2025 exploration program will be released within the coming weeks.

Management cautions that production from or discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization at the Bellehelen project.

Dr. Alan Wainwright, a consultant of the company, is a qualified person as defined by National Instrument 43-101. Dr. Wainwright has reviewed and is responsible for the technical information disclosed in this news release. The qualified person has not verified the historical data, but verification of these data will be done through the company's planned exploration activities. For additional information on the Bellehelen project, please refer to the technical report titled "Bellehelen Property NI 43-101 Technical Report," with an effective date of Aug. 15, 2024, filed on SEDAR+.

About Excalibur Metals Corp.

Excalibur Metals is a Canadian company focused on exploring for precious metals within established mining areas in the Western United States. The company has acquired the option to purchase 100 per cent of the Bellehelen project in Nye county, central Nevada. The claims cover most of the historic Bellehelen mining district, where gold and silver were initially discovered and mined in the early 1900s. Excalibur has assembled an exceptional team with considerable exploration, developing and permitting experience within North America. Excalibur is traded on the TSX Venture Exchange under the symbol EXCL.

We seek Safe Harbor.