trading halt, page-24

They are currently drilling up dip and down dip of Juno. This is the final verification of the initial Juno Jorc of I think 833,000 ounces. I have attached the previous announcement re the three areas of drilling that Excalibur has been focused on.

Also note the statement on the Juno verification. I hope for all holders that this results in a resource upgrade, but it is no certainty to do so. Any result that verify's the current resource is good. The market however will see no upgrade as a negative and there probably will be a sp drop.

As I have stated before, up dip, down dip and M10 are where we really need to see the big resource increase.

Excalibur's current drilling program at Juno is focused on three areas:
Up-Dip Juno 16 reverse circulation holes totaling 2,964m and 10 diamond drill holes totaling
2,683m have been completed on a 40m x 40m pattern in the area around the spectacular
intersections announced late last year, being EDJ004 and EDJ007.
Juno Extensions Testing of the open regions along strike and below the Juno Resource, in
particular targeting the previously defined inferred areas at the base of Juno. Eight holes have
been drilled in the inferred areas and results for the majority are pending.
Juno Stope Verification As part of the Cube Resource review, we are confirming the stope
boundaries to verify the depletion from previous mining.

Juno Verification
The Juno Verification drilling is the critical component in the Cube Resource review, which will
provide a new estimate of the Juno resource. This will feed directly into the detailed scoping study,
which Excalibur is on schedule to commence in early March.
A total of 21 holes are planned to intersect the existing stopes to verify their location. Excaliburs
current resource is based on the stopes as defined by the surveyed plans of the Juno Mine. To gain
the utmost level of confidence as to the depletion from the previous mining, which is necessary to
confirm the resource to a higher level of confidence, Excalibur needs evidence of the current stope
location. To do this Excalibur will be drilling a series of holes, based on Cube's specifications, to
break through into the old stopes. This will both confirm their location and dimensions as well as
the existence of the higher grade ore immediately adjacent to the historical stopes.