Excalibur Metals advances Northwest Rangefront; prepares Spyglass Ridge drill

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2026) - Excalibur Metals Corp. (TSXV: EXCL) ("Excalibur" or the "Company") is pleased to announce significant results at its developing Northwest Rangefront Target ("Rangefront") at the Bellehelen Silver-Gold Project (the "Project" or "Bellehelen"), Nye County, Nevada. Following compelling initial rock chip sampling that identified a large-scale pathfinder element anomaly within a broad alteration zone (see Figure 1 below), the Company has completed a systematic soil grid at Rangefront consisting of approximately 300 samples (results pending). This survey covers the multi-kilometer alteration anomaly defined by airborne remote sensing.

Concurrently, this week the Company mobilized a geophysics crew to conduct a high-resolution CSAMT survey for drill targeting later in 2026. In addition to the work being carried out at Rangefront, Excalibur is also finalizing drill preparations at the Spyglass Ridge Target ("Spyglass") located approximately 8km southeast of Rangefront with drilling expected to commence next week. Consistent Pathfinder Anomalies The exploration program was triggered by initial reconnaissance rock chip sampling, which yielded compelling results across the target area, as seen below in Table 1.

Widespread, Consistent Pathfinder Elements: All four rock chip samples collected during the initial phase returned anomalous values of arsenic, antimony, and mercury. System Continuity: The consistency of these "top-of-system" pathfinder elements across the broad alteration zone indicates the potential for a broad, fully-preserved gold and silver mineralized system at depth. Scale: Initial mapping and sampling identified a significant alteration trend that coincides with the district-wide structural trend that remains open along strike, suggesting the footprint of a large mineralizing system continues northwest.

"Our reconnaissance sampling returned encouraging pathfinder geochemistry across the alteration