Excalibur Resources Announces Private Placement
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VANCOUVER, BRITISH COLUMBIA, Oct 05 (MARKET WIRE) --
Excalibur Resources Ltd. (the "Company") (CNSX: XBR)(WKN: A0MMDH) is
pleased to announce that it has arranged a non-brokered private placement
of up to 70,000,000 Shares at $0.01 per Share for gross proceeds of up to
$700,000. A portion of the Shares to be issued pursuant to this private
placement will qualify as Flow Through Shares under the rules of the
Canada Revenue Agency.
A finder's fee of 10 % may be payable on a portion of the proceeds
raised. Net proceeds will be used to conduct a Phase One drilling program
on the Company's Silver King Property near Nelson, British Columbia and
for general working capital purposes. The Company has also received
approval from the exchange for debt settlement of up to 13,000,000 shares
at $.01.
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
416-925-0090
info@excaliburresources.ca
www.excaliburresources.ca
Copyright 2009, Market Wire, All rights reserved.
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