March 10, 2011
Excelsior Mining Corp. (TSX-V: MIN) (“Excelsior”) reports that it has signed a six-month Consulting Agreement with Milestone Media AG ("Milestone") to act as Investor Relations consultants to Excelsior.
Milestone is a privately held company, based in Zug, Switzerland, and provides financial services, investor relations and other marketing services to public companies. Milestone and Excelsior are at arms-length to one another. Except for the option grant noted below, Milestone does not hold or have the right to acquire an interest, directly or indirectly in Excelsior. Milestone will provide investor relations services including, but not limited to, communicating with investors and potential investors based in Europe. Milestone will not provide market making services.
Milestone will be paid a monthly fee of $6,000 per month and Excelsior has granted 250,000 stock options to Milestone at an exercise price of $0.71 per share. These options are granted for a fiveyear period, and the grant is subject to vesting provisions in accordance with the rules of the TSX Venture Exchange. Excelsior may, in its sole discretion, extend the Consulting Agreement beyond the initial six month term.
Excelsior is an exploration and development company with a copper project located within the copper porphyry belt of Arizona. The Gunnison Copper Project is located close to the required infrastructure and with its in-situ recovery potential, is intended for near-term production. The Excelsior team consists of experienced professionals with proven track records of advancing projects towards production.
Further details about Excelsior can be found on Excelsior’s website at: http://www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Transaction and final Exchange approval are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Excelsior undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and no securities regulatory authority has either approved or disapproved of the contents of this release.