|By Marketwired .||
|January 31, 2013 12:25 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 01/31/13 -- Excalibur Resources Ltd. ("Excalibur" or the "Company') (CNSX:XBR)(FRANKFURT:X9CN) is pleased to announce its 49% owned subsidiary Minera Catanava S.A. de C.V. ("Catanava") has hired Jose Luis Vigil Rodriguez, a senior experienced Metallurgist as Plant Manager. Mr. Vigil graduated in Metallurgical Engineering from the Instituto Politecnico Nacional (ESIQIE) and has worked for several large mining companies including Goldcorp (Penasquito), Minera Frisco (Tayahua), Nyrstar (Campo Morado) and Baker Hughes.
Our JV partner, Don McLeroy, President of Minera Apolo, S.A. de C.V., commented, "As we have completed the construction phase and are transitioning into daily mining operations, it has become critical to have hands-on management at the plant. In a tight labor market, we are extremely fortunate to have added Mr. Vigil as a senior member of our team. In the four months since underground development commenced at surface, we have advanced approximately 130 meters on three adits: El Camino (40 meters), San Gil (60 meters) and San Miguelito (30 meters). We have stockpiled approximately 1500 tons on the raw ore patio, produced approximately 2,000 kilograms of concentrate and produced a small three ounce test dore bar. We have experienced intermittent production in the plant due to ongoing equipment adjustments and periodic breakdowns of the cone crusher. We are focused on the iterative process of improving recoveries by reducing the oversize material, adjusting the ball mill grind, adjusting the wave tables, and adding a gravity concentrator, since we have a lot of fine gold."
"We are confident with the hiring of a full-time Plant Manager with the skills to achieve plant optimization and to manage the daily routine, along with a low cost breakeven point with only 38 employees, we are on the path to commercial production, initially through the sale of the concentrates that we have produced rather than through the sale of dore," commented Tim Gallagher, Chairman & CEO.
Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious metal mineral resources.
On behalf of the Board of Directors:
Tim Gallagher, Chairman & CEO
Neither the Canadian National Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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