Excalibur Resources: 250tpd plant with commercial production in 2014

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

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Message: Monthly progress report: February

Received a response from Mr. Gallagher a week or so ago. He appreciated my inquiry and provided responses in line with the content in the Dec presentation. He provided an update on the advancement of the mine stating that it was a little behind due to a change in plant manager but that production increases are expected to continue. He stated they were looking to sell dore from the site, not concentrate, due ot the lower returns from concentrate and they were progressing on that front.

My questions were around production milestones, anticipated dividends, and that it would be great to have a formal update on the overall mine operation and timelines. I understand that the company can't provide any one person any significant updates without a media release, but wanted to get in touch with the company to express my interest in an update... Not sure that a formal update will happen as the presentation from December seems to be what he continued to reference.

kind regards,

pymmer

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