🕐22.06.10 - 09:49 Uhr

Excalibur Mining [ASX: EXM] - Commencement of Drilling at Browns Range Project – Tanami Region, NT



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Excalibur Mining [ASX: EXM] - Commencement of Drilling at Browns Range Project � Tanami Region, NT

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.

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

Luke Dean 0414 535 433



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