Excalibur Metals completes sampling, plans drilling at Bellehelen Project, Nevada

Excalibur Metals Corp. [TSXV: EXCL] reported that following the recent completion of detailed mapping and sampling coupled with a CSAMT (controlled-source audio frequency magnetotellurics) geophysical survey and ground and airborne spectral data, the company has finalized drill hole locations at the Bellehelen silver-gold project located in the Walker Lane trend of Nevada.

The drill program will consist of roughly 3,000 metres of reverse circulation drilling in eight holes at the Spyglass Ridge target. Drilling is expected to commence in mid-March, 2026.

“The completion of follow-up mapping, CSAMT geophysics and alteration mineralogy analysis has affirmed our priority drill target at Spyglass Ridge. We see Spyglass as the first step at Bellehelen in demonstrating the district-scale potential of the project,” said John Gilbert, CEO of Excalibur Metals. “With the planned 3,000-metre drill program, Spyglass is merely the first of many targets with the potential to define a precious metals deposit of considerable scale.”

The CSAMT geophysical survey was completed by Zonge International Inc. The survey used a controlled electromagnetic source to detect resistivity contrasts related to alteration, structures and potential mineralization. CSAMT measurements were acquired on seven south-southeast/north-northwest-trending lines with 100-metre line spacing, for a total of 11.2 line-km of data coverage.

Excalibur has appointed Elijah Turner, MSc, as vice-president of exploration. Mr. Turner is an economic geologist with extensive mineral exploration experience across North America, particularly in precious metal exploration in Nevada.

Excalibur also announces that Mark Morabito will be stepping down as executive chairman and a director, effective as of the date of this news release. Mr. Morabito will transition to an adviser role as a member of the company’s advisory board.

Excalibur Metals is focused on exploring for precious metals within established mining areas in the western United States. The company has acquired the option to purchase 100% 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.