Excalibur Releases Remainder of Drilling Results from Spyglass

About this update from Excalibur Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 29, 2026) - Excalibur Metals Corp. (TSXV: EXCL) (OTCQB: EXCBF) ("Excalibur" or the "Company") is pleased to announce drill results from the final four holes of its 3,122-metre drill program at the Spyglass Ridge Target, located at the Company's Bellehelen Silver-Gold Project ("Bellehelen" or the "Project"), Nye County, Nevada. For gold and silver results from the first six holes of the program , see the Company's news release dated June 3, 2026. Highlights Multiple zones of anomalous gold and silver mineralization were identified in holes BH26008 and BH26010, including an intercept in BH26008 of 3.05 m grading 0.20 g/t Au and 21.8 g/t Ag and an intercept in BH26010 of 1.52 m grading 0.48 g/t Au and 29.1 g/t Ag. The occurrence of multiple coincident gold-silver intercepts across separate drill holes confirms the presence of a mineralized structure running parallel to Spyglass Ridge that continues to a depth of at least 300 metres. Particularly encouraging is the continuity of elevated gold and silver values over tens of metres in both BH26008 and BH26010, suggesting the potential for disseminated mineralization on the Project. Holes BH26007 and BH26009 primarily returned gold and silver values below detection limit. In the Company's next drill campaign, follow-up drilling is planned with the aim of identifying high-grade shoots along the mineralized structure at Spyglass Ridge in addition to testing other targets. John Gilbert, CEO of Excalibur Metals, commented: "These results continue to demonstrate the scale and fertility of the Bellehelen hydrothermal system. We're encouraged by the early-stage results at Spyglass Ridge, where the presence of multiple gold-silver intercepts in separate drill holes provides further evidence that we are vectoring toward a robust mineralized system. We'll continue to advance the Project on multiple fronts by undertaking systematic exploration in the lead-up to our next round of drilling."

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