August 7, 2014
Excelsior Mining Corp. ("Excelsior" or the "Company") (TSX-V: MIN) is pleased to announce that it has engaged Sterling Marketing Corp. ("Sterling") to assist in the creation and implementation of a comprehensive marketing and investor communications program for the Company.
Sterling is based in Vancouver and provides marketing and investor relations services to public companies in the resource sector. The principal and owner of Sterling is Mr. Scott Gibson. Sterling will be responsible for advising the Company with respect to corporate development, maximizing value for shareholders, increasing the Company's exposure to potential shareholders, as well as managing and increasing the effectiveness of the Company's marketing and communications materials.
Scott Gibson, Chairman of Sterling states, "I am excited about working with the Excelsior team, and specifically working again with Mark Morabito who has the proven ability to develop and finance high quality assets like the Gunnison Copper Project. It is the strength of the management team and the economics of Gunnison that make Excelsior such an attractive opportunity."
Under the terms of the agreement, and subject to TSX Venture Exchange approval, Sterling will receive a fee of $10,000 per month, and be granted stock options to purchase 600,000 common shares of the Company at a price of $0.25 per share for a period of five years. The options shall vest quarterly in accordance with the policies of the TSX Venture Exchange and the Company's Stock Option Plan. The Company has sufficient cash in its treasury to pay the fees for Sterling's services. The agreement with Sterling is for a period of one year.
Sterling is independent of the Company and does not have any direct or indirect interest in the Company, except for the ownership of common shares of Excelsior by its principal. Sterling and it principals do not engage in market making activities and the firm will restrict its services to public relations and investor relations consulting. Sterling will provide its services from its offices located in Vancouver.
Excelsior would also like to confirm that the engagement of Liolios Group Inc. as an investor relations consultant was terminated in April 2014.
The Company also announces that, subject to TSX Venture Exchange approval, it intends to extend the term of a total of 5,829,667 stock options (the "Options"), which are currently scheduled to expire on December 18, 2014, May 5, 2015 and October 14, 2015. The Options were issued with an original term of five years and the term will be extended such that their new expiry date is December 31, 2018.
Excelsior is a mineral exploration and development company that is advancing the Gunnison Copper Project. The Excelsior management team consists of experienced professionals with proven track records of advancing mining projects into production. Further information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at www.sedar.com entitled: "Gunnison Copper Project, NI 43-101 Technical Report, Prefeasibility Study" dated February 14, 2014.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
"Mark J Morabito"
For further information regarding this press release, please contact:
Excelsior Mining Corp.
JJ Jennex, Vice President, Corporate Affairs
T: 604-681-8030 x240
Sterling Marketing Corp.
Scott Gibson, Chairman
T: (604) 697-0028
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning (i) the benefits of the agreement with Sterling; and (ii) the advancement of the Gunnison Project.
Such forward-looking information can be identified by the use of word "will". Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, copper and other metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Gunnison Project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the completion of the permitting process, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not commence at the Gunnison Project, risks relating to variations in mineral resources and reserves, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Project may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
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.