Good conservation and restoration practices of cultural heritage assets rely on the knowledge of original materials. In the framework of the HERACLES Project (HERACLES—HEritage Resilience Against CLimate Events on Site, H2020 Grant Agreement 700395), dealing with the effects of climatic actions and natural hazards on built heritage, a set of important heritage sites are currently under study to improve their resilience against climate events. Among these are the medieval Gubbio Town Walls in Italy. The present work focuses on the mortars and binders of this monument and collected samples related to different parts of the Walls, corresponding to various historical periods of construction and interventions. They were characterized to determine their minerochemical composition, thermal behavior, and morphology. For that purpose, ex-situ laboratory techniques, such as X-ray diffraction (XRD), wavelength dispersive X-ray fluorescence (WDXRF), optical microscopy (OM), polarized light microscopy (PLM), scanning electron microscopy (SEM), and simultaneous differential thermal analysis and thermogravimetry (TG-DTA) were used to discern trends in different sampling areas due to construction/reconstruction periods and building techniques.