Excalibur commences of drilling at Browns Range Project, NT June 22, 2010

Excalibur Mining Corporation Limited (ASX: EXM) advises that drilling has commenced at the Company’s Browns Range project on EL 25207 in the Tanami region of the Northern Territory of Australia.

Excalibur considers the tenements prospective for an unconformity style uranium and/or gold mineralisation similar to deposits in the East Alligator region of the Northern Territory.

Excalibur’s Managing Director, Tim Lagdon said, “While it is very early stage exploration, the large targets (some are 2 – 5km long) and the positive geophysics make the modest cost of the first pass reconnaissance drilling compelling.”

The drilling program will follow up on the previous airbourne geophysics completed in 2008 that identified a number of attractive targets based on the interpretation of structural and radiometric data.

The program of 10,000 metres of shallow RAB drilling will conclude by mid-July, with results to be announced thereafter.

The Tanami Goldfield includes some major gold deposits, including Callie/Dead Bullock Soak (+8moz), and the Central Tanami Mines (1.7m oz) amongst others.

Excalibur currently owns the gold rights for the project and is earning a 90% joint venture interest across all minerals through expenditure of $500,000 over 2 years.

A presentation released to the ASX on 11 May 2010 provides additional details of the project and the program.

Click here to view the full announcement.

For further information, please contact:

Tim Lagdon
Managing Director
Ph: +61 8 9322 8000

Media enquiries:
Fortbridge: +61 2 9331 0655
Bill Kemmery 0400 122 449
bill.kemmery@fortbridge.com
Luke Dean 0414 535 433
luke.dean@fortbridge.com