Vancouver, British Columbia–(Newsfile Corp. – April 1, 2026) – Excalibur Metals Corp. (TSXV: EXCL) (“Excalibur” or the “Company”) is pleased to announce that field crews have mobilized to the Company’s newly-staked Rangefront target at the Bellehelen Project, Nye County, Nevada. Simultaneously, the Company has completed site preparations for the maiden drilling program at the Spyglass Ridge gold-silver target, which is set to commence in the coming weeks.
Following a comprehensive review of regional airborne remote sensing data and geochemical anomalies from surface samples, Excalibur recently extended the Company’s land position by over 4 km to the northwest along the Bellehelen fault (refer to March 19th, 2026 news release), which coincides with epithermal-style alteration and mineralization on trend (Figure 1).
“The footprint of the Rangefront target indicates the potential scale and character we would expect to see in a tier-one target,” said John Gilbert, CEO of Excalibur Metals. “The broad, intense alteration signature suggests extensive and robust fluid circulation occurred and the historical artisanal gold mines nearby on the margins of the alteration cell may be just a hint of what lies underneath — a much larger, unexplored gold and silver system at depth. Bellehelen is the type of neighborhood where you want to be looking in Nevada for a standout discovery.”
The mobilized field crews are tasked with:
- Two soil geochemistry survey grids (~600 samples total) to further delineate targets: (1) the 1 x1.5 km Rangefront target and (2) extending coverage around the 400 m linear silver-in-soil anomaly at the Broken Cabin target that lies 700 m north of Spyglass Ridge along parallel, steep east-west structure.
- Mapping, sampling and structural evaluation of this target to identify fluid conduits and architecture for potential silver-gold mineralization.
Figure 1: Bellehelen silver-gold trend – 10+ km of historic artisanal workings with priority Spyglass Ridge and Broken Cabin drill targets outlined (box). The newly-acquired Rangefront target is a priority future drill target.
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Photo 1: Crews mobilized and camp established at Bellehelen Project, Nye County, Nevada.
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Spyglass Ridge Drill Program Outline
At the Spyglass Ridge target, preparation for the Phase 1 reverse-circulation (“RC”) drilling program is complete. The Company has finalized the construction of the main access roads and seven drill pads.
Highlights of the upcoming Spring 2026 Spyglass drill program include:
- Drill Mobilization: The drill contractor is scheduled to arrive on-site in the coming weeks.
- Targeting: The initial 3,000-meter, 8-hole RC drill program will focus on testing the gold and silver mineralization at depth, where previous surface sampling returned broad, anomalous gold and silver values (for details see February 26th, 2026 news release).
- Permitting: All necessary permits for the initial program are in hand.
- Spyglass Ridge drill target is summarized by John Gilbert in the short video found here.
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.
About Excalibur Metals Corp.
Excalibur Metals Corp. 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% 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, development and permitting experience within North America. Excalibur is traded on the TSX Venture Exchange (TSXV) under the symbol “EXCL”. For more information, visit www.excaliburmetals.com.
EXCALIBUR METALS CORP.
On behalf of the Company
“John Gilbert”
CEO
For further information regarding this news release, please contact:
John Gilbert, CEO
604-687-3376
info@excaliburmetals.com
Notes
1 Details about the historical production and results at Bellehelen can be found in the technical report titled “Bellehelen Property NI 43-101 Technical Report” authored by Heather Burrell, B.Sc., P.Geo. with an effective date of August 15, 2024 filed on SEDAR+ and referenced from Kleinhampl F.J. & J.I. Ziony. 1984a. Geology of Northern Nye County, NV. Nevada Bureau of Mines & Geology Bulletin 99A. Management cautions that production from, or discoveries on, adjacent properties may not necessarily be indicative to the presence of mineralization at the Bellehelen Project.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the Bellehelen Project being untested, the exceptional scale and prospectivity of Bellehelen, the Property’s untapped potential, the potential for another major discovery at Bellehelen, the potential to unlock value from this underexplored district and deliver meaningful results for the Company’s shareholders, the timing and scale of the drill program, details of exploration plans and the exploration and development of the Company’s mineral projects.
In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the availability of financing to continue as a going concern and implement the Company’s operational plans, metal prices, the timing and amount of future exploration expenditures, the availability of labour, equipment and material, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in commodity prices, risks related to current global financial conditions, risks related to current global financial conditions on the Company’s business, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of exploration activities, including the risk of accidents, labour disputes, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
