PDAC conversation with Chairman Tim Gallagher

Excalibur Resources: 250tpd plant with commercial production in 2014

2014 Gold Producer (dividend planned) in Pinos Bonanza Gold District, Zacatecas, Mexico

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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FANTOMAS

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PDAC conversation with Chairman Tim Gallagher

posted on Mar 10, 2012 10:00AM

This is the translation of a post of a German visitor at PDAC and his conversation with Tim Gallagher at the Xmet booth regarding Excalibur:

Tim said, XBR is ok for cash now going into production. There are no further PP´s planned at these low prices. If there will be another PP at higher prices, it will be used to speed-up the mill expansion process. Because that will generate exponential throughput and cash flow, which will ultimately benefit all shareholders.

Both crushers and the ball mill are working fine, as can be seen in the latest video, posted earlier (see "Link Library" section on this hub). Tim anticipates commencement of test production of this section by the end of next week. The crushed material from this test production will be stored for later processing, because the building for the wave tables and the safe storage facilities is not ready yet.

Once the building is finished, the whole test production process will start, which is anticipated by the end of March / early April.

First they will use the dump / tailings material of the historic mining operation (70k tonnes @ estimated 3gpt). Following that, Tim wants to use seperate material of individual vein sections in order to establish average grades for different areas.

Tim was happy with the progress made so far and was looking forward to the production of the first dore bars.

Sounds very good to me !

FANTOMAS

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