Combined annual report for the Juno Project tenements MLC45, 46, 47, 68, 154, 284, 578, 579 reporting period 1 January 2007 to 31 December 2007

Abstract

Excalibur Mining Corporation Ltd has acquired the Juno Project from Peko Rehabilitation Project Pty Ltd and has commenced an extensive data compilation and field exploration program over these tenements. The key exploration targets within these tenements are extensions of the Juno, M10, and G11 mineralisation, as well as definition of the Juno Western and Eastern Residual mineralisation. The known mineralisation has a complex copper-bismuth-gold character, similar to other iron oxide copper and gold (IOCAD) deposits found elsewhere in the world. The work completed during the reporting period has consisted of an extensive data compilation (both digital and hardcopy), drilling of 1 RC precollar, implementation of a DGPS survey and reviewing of old diamond drill core.