Mr. John Gilbert reports

EXCALIBUR METALS SECURES ADDITIONAL MINERAL RIGHTS AT BELLEHELEN

Excalibur Metals Corp. has staked an additional 79 claims at the Bellehelen silver-gold property located within the Walker Lane trend of Nevada. These new claims, mostly located along the northeast margin of the original property, were staked after reviewing additional historic data available to the company.

"There's a large structural corridor at Bellehelen, and it is our belief that additional targets exist adjacent to the main mineralized trend as confirmed by recent field work and analysis," says John Gilbert, chief executive officer of Excalibur. "This expansion consolidates Excalibur's position in the region which provides additional exciting exploration targets and great potential upside for shareholders."

The program continues to advance on schedule, with the ground team having already completed surface and underground chip sampling, regional soil sampling, and drill targeting. Geophysics crews will be mobilized to Bellehelen in the coming weeks to carry out a CSAMT survey to delineate potential mineralized structures, after which the company expects to commence drilling.

About Bellehelen

Bellehelen encompasses a district-scale, seven-kilometre-long mineralized trend that historically produced an estimated 311,000 silver equivalent ounces in the early 1900s. Numerous historic workings are distributed along the entire length of this extensive corridor, highlighting a continuity of mineralization across multiple zones on the property. Historical surface sampling returned high-grade assays of up to 11.25 grams per tonne gold and 3,490 g/t silver, confirming the presence of a fertile precious metal system. In addition, broad soil anomalies and extensive vein networks within the large structural corridor suggest the potential for both high-grade shoots and bulk tonnage targets, underscoring the exceptional scale and prospectivity of the Bellehelen property.

Dr. Alan Wainwright, a consultant of the company, is a qualified person (QP) as defined by National Instrument 43-101. Dr. Wainwright has reviewed and approved the technical information disclosed in this news release. The QP 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+.

Auditor appointment

The company also announces that in connection with the recently completed qualifying transaction, Crowe MacKay LLP has terminated as auditor of the company and Dale Matheson Carr-Hilton Labonte LLP, auditor of predecessor Excalibur Metals Corp., has been appointed as auditor of the company. In the opinion of the company, no reportable event (as such term is defined in National Instrument 51-102 -- Continuous Disclosure Obligations) has occurred. The company is relying on Section 4.11(3)(a) of NI 51-102 for an exemption from the change of auditor requirements within Section 4.11 of NI 51-102.

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 Country, 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 (TSXV) under the symbol EXCL.

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