Excalibur releases remainder of drilling results from Spyglass

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 Encouraging results from the final four drillholes at Spyglass Ridge including an intercept in BH26008 of 3.05 meters ("m") grading 0.20 grams per tonne ("g/t") gold ("Au") and 21.8 g/t silver ("Ag") and an intercept in BH26010 of 1.52 m grading 0.48 g/t Au and 29.1 g/t Ag Rangefront is slated as a priority target for the Company's next drill campaign, along with follow-up drilling at Spyglass Ridge, anticipated in late 2026 or early 2027 In the coming months, the Company will remain focused on identifying, advancing, and prioritizing targets at Bellehelen to optimize the chances of discovery during subsequent drilling 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