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Excalibur Appoints German Castano as New Director

TORONTO, CANADA -- (Marketwired) -- 05/31/14 -- Excalibur Resources Ltd. ("Excalibur" or the "Company') (CSE:XBR) (OTCQX:EXCFF) (FRANKFURT:X9CN) is pleased to announce the appointment of German Castano, President, Carbocol Inc. and President and Legal Representative Carbocol Peru S.A.C.(Carbocol), to Excalibur's Board of Directors. Mr. Castano is a graduate Engineer from Colombia. Mr. Castano immigrated to Canada in 1999, after which he became President of several Hispanic organizations including serving three years as President of the Toronto Hispanic Chamber of Commerce.

In 2011, Mr. Castano began operating in the mining industry after securing high value coal and gold concessions and starting his own operations in Colombia, producing and exporting gold dore to the USA. In 2012, Mr. Castano expanded Carbocol's gold dore export operations to Peru and in 2013 he purchased a gold processing plant in northern Peru. In 2014, Carbocol acquired San Pedro, a 900 hectare gold concession, located 17 kilometers northeast of Tambogrande's world class volcanogenic massive sulphide (VMS) deposit of Cu-Zn-Au-Ag.

"German brings a proven track record of successful operation of a small gold mill in a high grade location and his knowledge will be invaluable to Excalibur as the company ramps up its production at Catanava," commented Tim Gallagher, Chairman and CEO of Excalibur.

The Company has granted incentive stock options to Mr. Castano to acquire 300,000 shares at $0.12 per share for a five-year period.

The Board has accepted the resignation of David Libby who has served as Director since 2009. The Board thanks Mr. Libby for his valued years of service to the Company.

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.

Contacts:
Tel: 416-925-0090
Email: [email protected]
Website: www.excaliburresources.ca

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