Combined annual report for the Nobles Nob project tenements reporting period 1 January 2008 to 31 December 2008

Abstract

Excalibur Mining Corporation Ltd has continued the work from last year, with an extensive data compilation and field exploration program being completed over these tenements. Key exploration targets within these tenements are extending known mineralisation below the current Nobles Nob Pit, expanding and defining further the current resources at both Nobles Nob West and Rising Sun. First pass RC drilling was also completed at Weabers Find, NM4, NM5, NM9, and Nobles Nob East and Shaft 12. The work completed during the reporting period has consisted of an extensive data compilation (both digital and hardcopy), drilling of 114 RC drill holes for 11,713m, drilling of 8 diamond core drillholes for 1,476.7m, implementation of a DGPS survey and reviewing/reexamination of old diamond drill core. This project is part of Excalibur's Tennant Creek Project. During the year new resources were estimated for gold and for the first time at Nobles Nob, copper resources. These include the Juno resources of 3.6Mt at 10.16 g/t for 1.7Moz and 0.34% Cu for 12,307 t.