Excalibur Resources Ltd. CNSX : XBR FRANKFURT : X9CN

April 01, 2013 11:40 ET

Excalibur Resources Reports First Large Diamond Discovery Ever in Zacatecas at it´s High-Grade Catanava Gold/Silver Project

TORONTO, ONTARIO--(Marketwire – April 1, 2013) - Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT:X9CN)(WKN A0YJNV) ("Excalibur" or the "Company") is pleased to provide an update on a very unusual an rare discovery at the Catanava property in Pinos, Zacatecas State, Mexico.

Pinos has been mined since 1546 and was one of only three bonanza gold districts discovered by the Spanish in Mexico. It is located along the historic Fresnillo -- Guanajuato Trend of Mexico, characterized by world-class precious metals mines.

The company is very pleased to report the recovery of a 239.2 carat diamond from a newly discovered underground section of the Tanous vein during the ongoing mapping and sampling program of old mine workings. In addition to the recovery of this exceptional gem, two more large stones weighing 124.0 carats and 71.1 carats have also been recovered.

The diamonds were recovered from a central kimberlite domain which has been discovered next to an existing high-grade gold and silver ore shoot.

"The recovery of these large stones is hugely significant to both Excalibur and Mexico. To the best of my knowledge, the 239 carat stone is one of the largest diamonds ever to have been recovered in Mexico, a country known for it´s vast mineral treasures mainly consisting of Silver, Gold and several base metals. The recovery of a diamond of this size, the confirmed population of blue diamonds at the Tanous vein and confirmation of multiple high-grade gold and silver areas in close proximity came as a big surprise to our geological team and myself. This spectacular discovery will be followed up and we have invited three diamond experts to support the company with the ongoing evaluation process of this unusual development. The diamonds will be sent to Antwerp to be studied prior to being sold later in the year", reported F.Antomas, Chairman and CEO of Excalibur Resources.

Highlights of the current sampling program are listed in Table 1. Assay results from the San Miguel Mine and the Tanous Mine show that significant gold mineralization remains in the old historic workings. The San Miguel and Tanous Mines belong to the Cinco Estrellas-Tanous vein system, a major mineralized trend that extends over a 5 km distance within the Pinos District and 700 meters on the Catanava property. The continuity of these high grades zones over significant strike lengths support the potential and continuity of mineralization.

Table 1: Highlights of assaying results from the current sampling program, Catanava Project, Pinos, Zacatecas State, Mexico.

Tanous Mine:

With this exceptional new diamond discovery on Level 04, the company will shift it´s focus on evaluation of this very unusual and rare geological setting found at Tanous, with high grade gold and silver next to a wide kimberlite section containing blue large diamonds.

After confirmation by world-known diamond experts, Excalibur Resources expects to be able to significantly increase the planned cash flow from gold and silver production through the addition of a very valuable diamond extraction from the Tanous vein.

Charles, P.Geo. is a "Qualified Person" for the purpose of National Instrument 43-101, and has reviewed and approved the technical contents of this news release.

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:

F.Antomas, Chairman & CEO

Neither the Canadian National Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.