Excalibur Metals defines silver-gold soil anomalies north of Spyglass Ridge

Vancouver, British Columbia--(Newsfile Corp. - August 11, 2026) - Excalibur Metals Corp. (TSXV: EXCL) (OTCQB: EXCBF) ("Excalibur" or the "Company") is pleased to announce results from expanded soil sampling north of the Spyglass Ridge Target ("Spyglass Ridge") at its Bellehelen Silver-Gold Project ("Bellehelen" or the "Project") in Nye County, Nevada. The results have outlined multiple silver-gold soil anomalies across an approximately one-kilometre-long corridor extending north from Spyglass Ridge, including the newly defined Zigs Target ("Zigs") and the extended Broken Cabin Target ("Broken Cabin") (see Figures 1 and 2 below).

The expanded sampling outlines a broader prospective corridor extending north from Spyglass Ridge and identifies two additional areas of interest at Zigs and Broken Cabin. The results support the potential for multiple silver-gold-bearing structures within this part of the broader Bellehelen hydrothermal system.

"These results significantly expand the area of interest around Spyglass Ridge and demonstrate that multiple silver-gold anomalies extend north of the area tested by our maiden drill program," commented John Gilbert, CEO of Excalibur. "The identification of Zigs as a new target, together with the stronger, broader Broken Cabin target area, gives us two additional areas to evaluate within approximately one kilometre of Spyglass Ridge. Our next phase of exploration will focus on understanding the structures associated with these anomalies and determining how they fit into the broader Bellehelen system."

New Zigs Target

The newly defined Zigs Target is located approximately 500 m east-northeast of Spyglass Ridge in an area that has received limited previous exploration. Soil sampling identified coincident gold and silver anomalies, including gold values of up to 449 parts per billion ("ppb") and silver values of up to 2.0 parts per million ("ppm").

Multiple samples from Zigs returned more than 100 ppb gold across a target area measuring approximately 300 m by 300 m. The gold and silver anomaly remain open.

The Company plans to complete follow-up exploration at Zigs to better understand the source and geological controls of the soil anomaly.

Broken Cabin Target

Broken Cabin is located approximately 700 m north of Spyglass Ridge along a prospective trend broadly parallel to the main Bellehelen trend with only very minor historic workings within and around the Broken Cabin target area. Initial reconnaissance sampling identified a 400 m-long silver-in-soil anomaly in this area, prompting the Company to complete an expanded soil grid to better define its extent.

The expanded dataset returned gold values of up to 331 ppb and silver values of up to 7.8 ppm. Elevated gold and silver values occur across several adjacent sample lines, outlining a broad target area measuring approximately 300 m by 600 m.

The results strengthen Broken Cabin as a priority follow-up target and indicate the potential for a silver-gold-bearing structure separate from, but broadly parallel to, the main Bellehelen trend.

Silver-Gold Trend North of Spyglass Ridge

Together, Spyglass Ridge, Zigs and Broken Cabin define a broader prospective corridor extending approximately one kilometre north from the area tested by Excalibur's maiden drilling program. The occurrence of multiple silver-gold anomalies across separate target areas suggests that mineralization at Bellehelen may be controlled by a broader network of parallel or intersecting structures rather than a single mineralized trend.

The soil results will be integrated with the Company's geological, structural and geophysical datasets and the results of its recent drilling at Spyglass Ridge. Zigs, Broken Cabin and other prospective areas within the corridor will be further evaluated as part of Excalibur's upcoming exploration program.

Figure 1: Gold in Soils for Zigs and Broken Cabin Targets at Bellehelen Property

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Figure 2: Silver in Soils for Zigs and Broken Cabin Targets at Bellehelen Property

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Quality Control/Quality Assurance

All soil samples were collected in the field at 25m intervals using a hand auger. Sample locations were recorded using a handheld GPS, and samples were placed in pre-labelled plastic bags. Samples were securely transported by field staff to ALS USA's laboratory in Reno, Nevada, for standard sample preparation, including drying at 60°C and screening to -180 microns (ALS method SCR-41). Prepared samples were subsequently analyzed for trace-level gold and multiple elements using ALS method AuME-ST44. A Quality Assurance/Quality Control protocol was incorporated into the program. ALS is independent of the Company.

Management cautions that soil samples represent individual point locations, and the associated geochemical results may be influenced by factors including soil development, topography and surface dispersion. Accordingly, the results may not necessarily be representative of the grade or extent of any underlying mineralization.

Qualified Person‍ ‍

Matthew Dumala, P.Eng., a consultant of the Company, is a Qualified Person ("QP") as defined by National Instrument 43-101. Mr. Dumala has reviewed and approved the technical information disclosed in this news release.

With respect to data from sampling conducted by the Company, the QP has verified all scientific and technical data disclosed in this news release including the sampling and QA/QC results, and certified analytical data underlying the technical information disclosed. The QP has verified the data disclosed in this news release by reviewing the assay data. The QP detected no significant QA/QC issues during review of the data and noted no errors or omissions during the data verification process. The Company and the QP do not recognize any factors of sampling that could materially affect the accuracy or reliability of the data disclosed in this news release.

About Bellehelen

Bellehelen encompasses a district-scale, 10-kilometre-long mineralized trend that historically produced an estimated 311,000 silver-equivalent ounces in the early 1900s 1 . Numerous historic workings are distributed along the entire length of this extensive corridor, highlighting a continuity of mineralization across multiple zones on the Property. Historical surface sampling returned high-grade assays of up to 11.25 g/t gold and 3,490 g/t silver 1 , confirming the presence of a fertile precious metal system. Broad soil anomalies, extensive vein networks and the results of the Company's recent drilling and geophysical programs demonstrate the potential for both structurally controlled higher-grade mineralization and broader zones of disseminated mineralization.

About Excalibur Metals Corp.

Excalibur Metals Corp. 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 1900's. Excalibur has assembled an exceptional team with considerable exploration, developing and permitting experience within North America. Excalibur is traded on the TSX Venture Exchange (TSXV) under the symbol "EXCL" and on the OTCQB Venture Market under the symbol "EXCBF". 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 Evelyn Cox 604-687-3376 ecox@excaliburmetals.com

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 regarding the interpretation and significance of soil sampling and other exploration results; the extent, continuity and potential sources of the silver-gold soil anomalies identified at Zigs, Broken Cabin and elsewhere along the prospective corridor; the potential for multiple silver-gold-bearing, parallel or intersecting structures and a broader hydrothermal system at Bellehelen; the integration of soil sampling results with geological, structural, geophysical and drilling datasets; the prioritization and further evaluation of prospective areas; the nature, timing and scope of follow-up work and future exploration programs; the Project's mineralization and exploration potential; 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309126

Newsfile Corp.

August 11, 2026 - 4:00 AM PDT

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