TORONTO, ONTARIO--(Marketwired - Nov. 11, 2016) - Excalibur Resources Ltd. ("Excalibur" or
the "Company") (CSE:XBR)(CSE:XBR.CN)(OTC PINK:EXCFF)(FRANKFURT:X9CN) is pleased to announce that it has arranged a non-brokered
private placement of 20,000,000 Units at $0.10 per Unit for a total of $2,000,000. Each Unit consists of one common share
and one-half of one common share purchase warrant. Each full warrant is exercisable to acquire an additional common share at
$0.15 per share for a period of two years from the closing date. All securities issued in connection with the offering are
subject to a four-month-and-a-day hold period.
Proceeds will primarily be applied in respect of the first cash milestone payment as per the binding agreement with
International Explorers and Prospectors Inc.("IEP") to acquire 100% of three net smelter royalties ("NSR") on properties located
in Timmins.
"Excalibur is on a clear and aggressive path to combine a portfolio of prospective gold royalties with a pipeline of precious
metal streams on producing public and private mines, in order to compare favourably with the successful and proven business model
of the royalty and streaming peer group," commented Tim Gallagher, Chairman and CEO of Excalibur.
Excalibur Resources Ltd. is a precious metals royalty and streaming company engaged in the acquisition and management of
precious metal royalties, streams and similar production based interests.
On behalf of the Board of Directors:
Tim Gallagher, Chairman & CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.