Excalibur Resources Completes $1.168 Million Private Placement

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 05/23/12 -- Excalibur Resources Ltd. ("Excalibur" or the "Company") (CNSX: XBR)(FRANKFURT: X9CN) announces, further to its news release of April 16, 2012, that it has completed a non-brokered private placement of 8,060,535 Units at $0.145 per Unit for a total of $1,168,777. Each Unit consists of one common share and one-half share purchase warrant. Each whole warrant is exercisable to acquire an additional common share at $0.20 per share for a one year period.

Net proceeds will be applied to working capital and to the Company's Catanava gold production project in Mexico. "After the current financing, the Company will have about $1.2 million in cash. Since signing the deal September 2010, we have invested an average $100,000 per month into the Catanava Project. We are very pleased to have an oversubscribed financing, particularly in a weak market, which is a real testament of support for the project from our new shareholders," commented, Tim Gallagher, Chairman.

Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious and base metal mineral resources.

On behalf of the Board of Directors:

Tim Gallagher, Chairman

The CNSX has neither approved nor disapproved of the contents of this press release.



Contacts:
Excalibur Resources Ltd.
Tim Gallagher
Chairman
416-987-0298

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 23.05.2012 - 11:50 Uhr
Sprache: Deutsch
News-ID 149231
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TORONTO, ONTARIO

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Mining & Metals

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