May 4, 2011
Excelsior Mining Corp. (TSX.V: MIN) (“Excelsior”) announces the appointment of JJ Jennex as Vice President, Corporate Affairs. Mr. Jennex will be responsible for all aspects of corporate communications with shareholders, media and all potential investors. Mr. Jennex has been active in both the junior resource industry and the international real estate sector for more than 12 years. During this time he has held numerous positions with both private and publically listed companies.
"Mr. Jennex is a great addition to Excelsior's team," said Mr. Twyerould, President of Excelsior. "His extensive experience in financial and public markets will be of great value in increasing our company's exposure to both retail and institutional investors."
Mr. Jennex holds 35,667 common shares, 8,367 warrants and 216,000 stock options in Excelsior.
Excelsior is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. (“Renmark”) to handle its investor relations activities.
"We are pleased to announce that we have selected Renmark to reinforce Excelsior's profile in the financial community and enhance the visibility of our project portfolio. We chose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Stephen Twyerould, President and CEO of Excelsior.
Renmark is a privately held company, based in Montreal, Quebec, and provides financial services, investor relations and other marketing services to public companies. Renmark does not have any interest, directly or indirectly, in Excelsior or its securities, or any right or intent to acquire such an interest. Renmark will provide investor relations services including, but not limited to, communicating with investors and potential investors.
In consideration of the services to be provided, Excelsior has agreed to a 12-month agreement starting May 1st, 2011, to pay a monthly retainer of $3,000 a month to Renmark. The agreement is subject to regulatory approval.
Excelsior also announces that it has retained New York based O&M Partners LLC ("O&M") to target potential institutional and independent money managers for a period of twelve months. Services offered to the Company include initiating contacts and meetings with institutional investors, independent money managers and market makers. Terms of the engagement are restricted to a payment per full day for in person meetings. It is at Excelsior’s discretion on how frequently O&M’s services will be utilized. Excelsior has also granted O&M 200,000 incentive stock options exercisable for a five year term. The options vest quarterly and are exercisable at a price of $0.60 per share. The agreement is subject to regulatory approval.
O&M is a buy side consulting firm specializing in the resource sector. They have been introducing small cap equities to the institutional investment community across the United States and in select European and U.K. markets since 1995. For the past eight years, O&M has been a leading agent in introducing senior management of mining companies to both specialist and generalist institutional investors.
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 at: http://www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
President & CEO
Renmark Financial Communications Inc.
Tel.: (514) 939-3989 or (416) 644-2020
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 production potential of the Gunnison Copper Project 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.