NOTE B

9 Months Ended

Feb. 28, 2013

Property, Plant and Equipment [Abstract]

NOTE B

NOTE B

Ÿ Excalibur and its subsidiary, Mountain West Mines, Inc., have acquired various mining properties, leaseholds, patented claims, and mineral rights interests. These assets are carried at their cost of acquisition unless, in the judgment of the Directors, a lesser amount is felt to be more appropriate because of a permanent decline in value. The Board of Directors has determined that a more realistic value should be placed on the books for financial reporting and has elected to reduce the reporting value for financial statement purposes to $100,000.

Ÿ Values for purposes of this financial statement as of February 28, 2003 and November 30, 2002.

Property and Equipment	$	2,354
Mining Equipment		1,347
Interest in Mining Properties		100,000
Accumulated Depreciation		-3,701
TOTAL	$	100,000