TORONTO, ONTARIO--(Marketwire - Aug. 9, 2010) - Excalibur Resources Ltd. (the "Company" or "Excalibur") (CNSX:XBR)(Frankfurt WKN:A0MMDH) reports that it has signed a contract with Distinctive Drilling Services Inc. of Westbank, B.C. for a drill program of a minimum of 4,000 meters at the Sturgeon Lake Property. The drill program is expected to commence on August 16, 2010.

The Company's Sturgeon Lake Property, comprising 91 sq. km., is a Volcanogenic Massive Sulphide (VMS) and Gold and Copper prospect situated in northwestern Ontario. In March, 2010 the Company received positive results from a VTEM (Versatile Time-Domain ElectroMagnetics) survey conducted by Geotech Ltd. The VTEM survey detected areas that have coincident high conductance and high magnetic anomalies. Results from the survey are similar to the electromagnetic characteristics of known VMS deposits. The VTEM data was used to select 29 highly prospective targets based on their conductance and magnetic responses, as well as the available geological data. Geotech has further analyzed the VTEM data using Maxwell Modelling to estimate the size and dip of each of these targets.

On June 1, 2010 three additional claims approximately 2 sq. km in area were staked along a banded iron formation that runs for approximately 15 km along the northern part of the Sturgeon Lake property. This iron formation could contain gold and copper mineralization, and therefore soil samples have been taken in this part of the property to test for the presence of gold and copper. On July 2, 2010 a claim approximately 1 sq. km. in area was staked near a positive result from geophysics and geochemistry for a VMS deposit.

Excalibur's Sturgeon Lake property is directly along strike and to the east of 6 VMS deposits that were mined between 1970 and 1991. A total of 19 million tonnes of ore was mined from these 6 VMS deposits with typical grades of 9% zinc, 1.5% copper, 140 g/tonne silver and 0.5 g/tonne gold. These 6 mines and the Sturgeon Lake property are all in the Sturgeon Lake Greenstone Belt. Another nearby past producing mine in the Sturgeon Lake Greenstone Belt is the St. Anthony Gold Mine that produced 63,310 ounces of gold at an average grade of 6.6 g/tonne.

On June 1, 2010 the Company commenced its exploration program of the Sturgeon Lake property, consisting of line cutting, geological mapping, geochemistry which, along with the Maxwell Modelling, has been used to define the drill program. The Company plans to drill a minimum of 4,000 meters during the 2010 exploration season, which will be focused on the the most promising targets. The Company is also having approximately 15 km of roads and trails constructed to extend the existing logging roads to provide access to all of the exploration targets. All exploration staff and contractors are being housed in an exploration camp that the Company has constructed on its mineral claim.

Recently, the Company announced the first set of results from geochemical surveys being carried out that include both Enzyme Leach (inorganic geochemistry) and Soil Gas Hydrocarbon (organic geochemistry) in order to discriminate which geophysical targets are associated with VMS deposits. SGH results have been received, which show strong coincident apical and halo anomalies typical of signatures from known VMS deposits. Enzyme Leach results have also confirmed the presence of metals that are characteristic of VMS deposits. The geochemistry and strong geophysical conductors and magnetic signatures in volcanic terrain along strike of 6 past producing deposits provides compelling reason for drill-testing of the identified targets. See web site at www.excaliburresources.ca for further details.It is the Company's belief that the results of each step of its comprehensive and systematic exploration program have provided indications of the presence of possible VMS deposits. 

Exploration activities on the Sturgeon Lake property are overseen by Dr. Hamid Mumin, Ph.D., P.Eng., P.Geo, a Qualified Person under the meaning of National Instrument 43-101. He has reviewed and approved the content of this press release.

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:

"Dr. James Kendall", President