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Phoenix, Arizona--(Newsfile Corp. - November 1, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that it and its wholly-owned subsidiary Excelsior Mining Arizona, Inc. ("Excelsior Arizona") have entered into an agreement with Nebari Natural Resources Credit Fund I LP ("Nebari") for a US$15 million credit facility (the "Credit Facility"). The Credit Facility provides for an initial draw of US$5 million (the "Initial Draw"), and two additional draws of US$5 million each at the sole option of Excelsior Arizona. There are no common shares, warrants or other convertible securities issuable to Nebari in connection with the Credit Facility. Excelsior anticipates first copper production in Q4 2019.

"For a mining project of this size and scope, it is prudent and responsible to have a credit facility in place should the need arise," stated Stephen Twyerould, President and CEO. "The Credit Facility is non-dilutive to shareholders and is structured so that the Company only draws down funding if it is required for operations."

The US$15 million Credit Facility has an initial term of 15-months from the date of the Initial Draw (the "Maturity Date"). The Credit Facility may be extended for up to two additional six-month periods (21-months and 27-months from the date of the Initial Draw). The proceeds of the Credit Facility will be advanced to Excelsior Arizona and Excelsior and one of its subsidiaries is acting as guarantor for the Credit Facility. The Credit Facility is secured against the assets of Excelsior and certain of its subsidiaries.

The Credit Facility shall bear interest at 14.2% per annum, payable monthly. An arrangement fee of 2.0% (US$300,000) (the "Arrangement Fee") of the total available funds under the Credit Facility is payable on closing. The Arrangement Fee is creditable against interest payable on the draws under the Credit Facility, to a maximum of US$100,000 of interest per each draw.

Nebari is at arm's length to the Company. There are no commissions or finders' fees payable in connection with the Transaction.

About Nebari

Nebari is a New York based manager of privately offered pooled investment vehicles including Nebari Natural Resources Credit Fund I, LP which is funding this transaction. The leadership team has deep experience with leading global mining companies and financial institutions. Nebari is known for partnering with motivated and capable management teams focused on achieving clear plan targets.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the schedule for the commencement of copper production; (iii) the use of proceeds of the Credit Facility; (iv) the Company's ability to repay the Credit Facility; and (v) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49335

Phoenix, Arizona--(Newsfile Corp. - October 9, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") provides a construction update ahead of the commencement of mining operations at the Gunnison Copper Project in southern Arizona. Excelsior remains on-schedule for first copper cathode production in Q4 2019.

All significant construction related to wellfield operations is now complete. Wet commissioning is currently being conducted; whereby down-hole pumps are being turned on and water is being transported from the various ponds via the pipeline corridor to test operational readiness. Excelsior is now awaiting regulatory approval for commencement of mining operations, which it expects to receive within the next several weeks.

Stephen Twyerould, the President & CEO said, "I would like to congratulate and thank the entire Excelsior team for their tremendous effort that puts us on the cusp of production. We look forward to commencing operations and ramping up to low-cost copper production, while at the same time protecting the environment and going home safe each day."

Construction began in December 2018 (see Excelsior news release dated December 4, 2018), and has culminated with the successful completion of the following milestones:

  • Wellfield Drilling: A total of 41 production wells and 16 compliance wells have been completed along with the associated infrastructure such as pumps, piping and header skids.
  • Power Upgrades: A new transmission line has been installed and power upgrades at the Johnson Camp Mine (JCM) have been completed; these upgrades will improve overall energy efficiency.
  • Pipeline Corridor: A two-mile pipeline now connects the wellfield to the production facilities; this construction element included the installation of a pipeline bridge and conduit under the I-10 freeway.
  • Holding Ponds: A total of seven ponds consisting of raffinate, evaporation, pregnant leach solution (PLS), utility and drain-down are now ready for operations.
  • Acid Storage: Three new acid storage tanks have been completed, along with new acid-handling facilities.
  • Operational Readiness: All key positions deemed essential to the commencement of mining operations are in place and ready to execute Excelsior's transition to producer status.

Minor construction items remain to be completed in the solvent extraction-electrowinning plant which are not required to commence wellfield operations. These items will be completed by the end of the year to allow for copper production.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48624

Phoenix, Arizona--(Newsfile Corp. - September 12, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") confirms the successful completion of the drilling of the production wellfield at the Gunnison Copper Project in southern Arizona. Excelsior remains on-schedule for first copper production in Q4 2019.

A total of 41 production wells have been successfully drilled. The depth of each well is approximately 1300 feet, and all wells are open within the copper ore body. Injection and recovery wells are interspaced in an alternating and repeating pattern throughout the wellfield; spacing is approximately 70 feet from each injection well to a recovery well. Installation of the necessary infrastructure and instrumentation, including stainless steel pumps in the recovery wells, is expected to be completed in the coming weeks.

"We are rapidly closing in on the completion of the entire construction process," commented Chief Operating Officer, Roland Goodgame. "The most critical component of our construction schedule has always been the drilling of the production wellfield; this key milestone has now been completed, thereby allowing us to remain on-track for copper production later this year."

Working in parallel to the drilling of the injection and recovery wells, 16 compliance and monitoring wells surrounding the production wellfield have also been completed. Additionally, the primary header station, which contains piping connections and the controls needed to monitor and adjust flow rates, has been constructed and is now ready for commissioning.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47730

Phoenix, Arizona--(Newsfile Corp. - September 10, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") confirms the successful completion of all ponds essential for production at the Gunnison Copper Project in southern Arizona. Excelsior remains on-schedule for first copper production in Q4 2019.

The Gunnison Copper Project has six major ponds represented by five types: Pregnant Leach Solution (PLS), raffinate, evaporation, utility and draindown ponds. Some ponds are retrofits of existing ponds, while others are completely new constructions.

Stephen Twyerould, President & CEO, said, "The successful installation of all the ponds signifies the completion of a major construction milestone. We are pleased with our progress to date and we look forward to unlocking the incredible economic benefits for local and state communities as we bring our project into production later this year."

Together, the PLS and raffinate ponds provide a closed-loop system for circulating mining fluids between the JCM production facilities and the wellfield. Excelsior recently completed the pipeline corridor that contains 18" and 20" diameter PLS and raffinate lines (See Excelsior Mining News Release - August 27, 2019).

Excess solution will be transferred to the evaporation pond. Excelsior's federal operating permit requires a bleed in excess of recovered solutions in order to maintain hydraulic control of wellfield operations. This bleed will be delivered to the evaporation pond for mechanically assisted evaporation.

Additionally, there is a new utility pond that will be able to accept either raffinate or PLS solutions to give operational flexibility; and there is also a newly constructed pipeline draindown pond that will capture any solutions should we need to perform maintenance on the pipeline.

Pond Name & TypeCapacityDate Completed (2019)
Pipeline Draindown Pond342,000 gallonsMay
Gunnison PLS Pond10.7 million gallonsJuly
Evaporation Pond49.4 million gallonsJuly
JCM Raffinate Ponds 3.4 million gallonsAugust
JCM PLS Pond and Draindown Cell4.4 million gallonsAugust
Utility Pond 7.1 million gallonsSeptember

 

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47673

Phoenix, Arizona--(Newsfile Corp. - August 27, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") confirms the successful completion of the pipeline corridor at the Gunnison Copper Project in southern Arizona. Construction of a two-mile high-density polyethylene (HDPE) pipeline corridor connecting the Johnson Camp Mine (JCM) processing facility to the production wellfield began in January and has now been successfully completed precisely as per Excelsior's construction timeline. Excelsior remains on-schedule for first copper production in Q4 2019.

"Another critical construction milestone has been successfully completed;" commented Stephen Twyerould, CEO & President, "We are now more than 90% finished in terms of the entire construction process, and we look forward to completing the remaining elements over the next month."

Construction of the pipeline corridor included the installation of a bridge over an area of the property where elevation is required, and a 460-foot tunnel under the I-10 highway. The pipeline corridor contains 18" and 20" diameter PLS and raffinate lines, as well as a freshwater line and a utility line.

Excelsior's North Star deposit contains a measured and indicated copper resource of 4.99 billion pounds (873 million tons grading 0.29%). The North Star deposit is located immediately adjacent to JCM, which Excelsior purchased out of receivership in 2015 for $8.4 million (see Excelsior news release dated October 8, 2015).

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47304

Phoenix, Arizona--(Newsfile Corp. - August 13, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") confirms the first delivery of acid to the Gunnison Copper Project in southern Arizona. Excelsior remains on-schedule for first copper production in Q4 2019.

In July, Excelsior completed the construction of three new acid storage tanks and a new acid unloading facility. The new acid storage tanks have capacity for 7500 tons of sulphuric acid, providing for excess operational and purchasing flexibility. Acid deliveries commenced on August 12th and will continue on a regular basis until the tanks are full and throughout operations.

Roland Goodgame, COO, commented by saying, "The new acid deliveries are on schedule and continue to demonstrate our progress towards operations later this year. The pure sulfuric acid in these tanks is diluted down to a weak sulfuric acid mining solution via the new acid handling and delivery system. This weaker acid solution is used in the wellfield operations to leach the copper from the naturally fractured rocks below ground."

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46877

Phoenix, Arizona--(Newsfile Corp. - July 16, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to confirm that electrical power upgrades have been completed at the Gunnison Copper Project in southeast Arizona; thereby allowing for all components of the project to be energized. This is another significant milestone and allows Excelsior to remain on-track for first copper production in Q4 2019.

The power transmission line to the production wellfield is now ready to be energized. The new 69k/volt transmission line has been successfully linked over the I-10 freeway; thereby connecting the production wellfield to the newly relocated and upgraded substation at the Johnson Camp Mine. At the new substation, power will be transformed for distribution throughout the processing plant. Additionally, the Company has also completed new power transmission lines with pole transformers for the hydraulic control wells and to the evaporation pond.

"Connecting power to the production wellfield is another critical step forward for the Gunnison Copper Project," commented President & CEO, Stephen Twyerould. "This key component has been completed on-time and on-budget as per our construction schedule. We look forward to decades of efficient power usage as we move closer to unlocking the robust economics of Arizona's next new copper producer."

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the schedule for the commencement of commercial production; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46287

Phoenix, Arizona--(Newsfile Corp. - June 27, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to confirm that excavation under the I-10 Highway has been completed; thereby, allowing for the pipeline corridor to be connected from the production wellfield to the Johnson Camp Mine ("JCM") processing facilities. Excelsior remains on scheduled for first copper production in Q4 2019.

Construction of a two-mile pipeline corridor connecting the JCM processing facilities to the production wellfield began in January and is expected to be completed before August. The contractor has successfully used the Jack & Bore excavation process of horizontal drilling to install 54" diameter steel casing, for a distance of 460 feet under the I-10 highway. The casing will contain pipe racks to hold the 18" diameter PLS and raffinate lines, as well as a freshwater line and a utility line. The other key engineering component of the pipeline corridor is a pipeline bridge over an area of the property where elevation is required; this bridge is expected to be completed during July.

Stephen Twyerould, the President & CEO said, "Our success with the Jack & Bore excavation process highlights our commitment to achieving technical and practical excellence throughout all aspects of the construction process. Our contractors and team performed admirably and the efficient conclusion of this important engineering element allows our construction schedule to remain on pace for first copper production towards the end of 2019."

The following construction milestones remain to be completed in advance of the Company commencing the circulation of mining fluids:

  • Completion of a new transmission line and power upgrade infrastructure;
  • Completion of a pipeline bridge;
  • Completion of the pipelines between the wellfield and the processing infrastructure;
  • Completion of all solution holding ponds;
  • Construction of new acid storage and acid handling facilities;
  • Installation of new rectifiers;
  • Completion of the drilling of the production wellfield and related monitoring, control, compliance and observation wells;
  • Completion of all infrastructure related to wellfield operations;
  • Obtaining regulatory approval to initiate operations.

The Company has made significant progress towards achieving each of these milestones and anticipates completion in time for first copper production in Q4 2019. A construction timeline displaying updated photographs of the construction process can be viewed at the Company's website.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.

Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; and (iii) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45949

Phoenix, Arizona--(Newsfile Corp. - June 21, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") reports that the nominees listed in the management information circular for the 2019 Annual General Meeting of shareholders were elected as directors of Excelsior. Detailed results of the vote for the election of directors held at the Annual General Meeting on June 20, 2019 in Vancouver, B.C., are set out below:

Votes for
% Votes for
Votes 
withheld
% Votes 
withheld
Mark J. Morabito
141,013,912
97.05
4,292,314
2.95
Stephen Twyerould
144,371,069
99.36
935,157
0.64
Colin Kinley
144,384,369
99.37
921,857
0.63
Jim Kolbe
144,380,069
99.36
926,157
0.64
Fred DuVal
144,378,368
99.36
927,857
0.64
Michael Haworth
144,392,068
99.37
914,156
0.63
Lord Robin Renwick
145,184,389
99.97
121,337
0.08
Stephen Axcell
145,181,389
99.36
124,837
0.09

 

Shareholders at the Annual General and Special Meeting also approved the appointment of Excelsior's auditors.

About Excelsior Mining

Excelsior Mining "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. For more information on Excelsior, please visit our website at www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD

"Stephen Twyerould"
President & CEO

For further information regarding this press release, please contact:
Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.
JJ Jennex, Vice President, Corporate Affairs
T: 604-723-1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45791

Phoenix, Arizona--(Newsfile Corp. - May 9, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to confirm that four successful wellfield pump tests have been completed at the Gunnison Copper Project ("Gunnison"), in southeast Arizona. The Company is also providing a comprehensive mine construction update. Excelsior remains on scheduled for first copper production in Q4 2019.

Excelsior's President & CEO Stephen Twyerould said, "Our pre-production pump tests have demonstrated hydraulic conductivity that is entirely consistent with our previous hydraulic and economic models. All elements of construction are progressing as per our timetable; first copper production remains on schedule for the end of this year." Mr. Twyerould added, "Excelsior also congratulates Taseko Mines on successfully plating copper cathode at their Florence Copper facility in Arizona. Florence Copper is the only other large-scale in-situ copper recovery project in development today, and Taseko's success adds to Arizona's exclusive history of low-cost in-situ copper mining."

Excelsior's pump tests were conducted using a total of 34 wells for each test, and all results received to date are consistent with the Company's hydraulic model. These tests consist of drawdown from a central production well, followed by the measurement of the response to this drawdown as seen in the surrounding wells. Information gathered from these pump tests will be used to further optimize production flow rates.

Copper mineralization at Excelsior's North Star deposit exists on the surfaces of naturally broken host rock that forms fractured veins cutting through the entire geological system. These veins create an interconnected network that makes the entire deposit permeable. During production, Excelsior will use diluted acid to extract the copper from these fracture veins using the deposits natural permeability to transport fluids. Hydraulic conductivity is crucial to the in-situ mining process, and Excelsior's pre-production pump tests have reconfirmed that the conditions at Gunnison are ideal for in-situ copper extraction.

Construction Update

Powerline: Installation of a new 69kV transmission line is largely complete; the only section of powerline that remains to be installed is that which will traverse the interstate highway. The new powerline is anticipated to be fully operational by June 2019.

Wellfield: The drilling program is progressing well, with two drilling contractors and five drill rigs currently on site. A total of 57 wells, including 41 production wells and 16 compliance wells totaling over 73,000 feet will be completed. The initial wellfield area will be 400 feet by 400 feet with a spacing of approximately 70 feet between injection and production wells. To date, a total of 33 wells have been drilled. Drilling of the production wellfield is expected to be completed by July 2019.

Pipeline: Construction of a two-mile pipeline corridor connecting the processing facilities at the Johnson Camp Mine (JCM) to the production wellfield is closing in on completion. Currently, crews are using the Jack & Bore excavation process of horizontal drilling to install a pipeline under the I10 Highway and this process is now over 50% complete. The entire pipeline is expected to be completed by the end of July 2019.

Acid Storage Tanks: These new facilities have been designed to enable the Company to store sulfuric acid and provide operational flexibility. Three acid storage tanks are under construction; each tank has capacity to hold 2500 tons of sulphuric acid. The general contractor has completed the tank foundations, finished casting the concrete containment slab and began forming and pouring concrete for the acid tank containment walls. All three tanks are at their completed heights and the tops are now being installed.

Ponds: A total of 230,000 of 260,000 cubic yards have been excavated from the evaporation pond. In parallel, the pregnant leach solution (PLS) pond is nearly complete with 50% of the double contained liner in place. All ponds are expected to be ready by the end of June 2019.

JCM SX-EW Facility Upgrades: Ongoing civil work is now over 80% complete; this includes earthworks associated with the installation of new pipes, fixing the retaining wall, and rebuilding the crud tank. Electrical grounding remains on-going, and new rectifiers are expected to arrive on site in July 2019. The JCM SX-EW plant was fully refurbished in 2007 and remains in excellent condition.

Staff Ramp Up: Management, technical and administrative personnel have been contracted or hired for the initial construction phase and will ramp-up accordingly in order to operate the production facility. There are currently 61 employees on site.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; and (iii) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44662

Phoenix, Arizona--(Newsfile Corp. - January 31, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to provide a construction progress report for the Gunnison Copper Project ("Gunnison"), in southeast Arizona. Photos of the construction process can be found on the Company's website. First copper production is scheduled for Q4 2019.

Construction Highlights:

  • A new access road south of the I10 Highway has been installed. Access to the production wellfield has been improved and overall transport efficiencies have been upgraded. The Gunnison Copper Project remains one of the most easily accessible mining projects in the world; the project benefits from direct access to all critical infrastructure components such as road, rail, power and water.
  • The drilling campaign program is advancing with five drill rigs currently on site. Collar drilling and cement casing of the of the initial wells is on-going in advance of down-hole activities, such as the installation of pumps and instrumentation. Drilling of the entire wellfield, which will consist of approximately 41 production wells and 22 compliance wells, is expected to be completed by July 2019.
  • Construction of the pipeline corridor connecting the processing facilities at the Johnson Camp Mine to the wellfield has commenced. Jack and bore, the method of horizontal drilling that is being employed to install a pipeline under the I10 Highway, is underway. Crews have completed the launch and receiving pits; horizontal boring is scheduled to mobilize in March. The entire two-mile high-density polyethylene (HDPE) pipeline corridor is expected to be completed by May 2019.
  • Staff ramp-up in expectation of production continues; a notable recent hire is Brent Berg, who is the new Environment, Health & Safety (EH&S) Manager. Mr. Berg was the former President of Cameco Resources, one of the largest in-situ uranium mining companies in the United States.

During the construction process, Excelsior will remain committed to our core value of achieving technical and financial excellence, said Chief Operating Officer, Roland Goodgame. "We will continue to make safety our leading priority as the security and wellbeing of our workers is critical to the ultimate success of the project. Our commitment to safety extends to all those within the local communities as we advance the Gunnison Copper Project towards producer status later this year."

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that are being or will be undertaken on the Gunnison Copper Project and their timeline for completion; (iii) the potential for cost savings; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of construction activities, receipt of and compliance with necessary regulatory approvals, 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 construction 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 Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, 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 construction process, regulatory risks, financing, capitalization and liquidity risks, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42574

Phoenix, Arizona--(Newsfile Corp. - December 6, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce the closing of a US$9.4 million equity placement with affiliates of Greenstone Resources L.P. pursuant to the terms of a previously announced subscription agreement (see Excelsior news release dated November 21, 2018 - Greenstone Resources Confirms US$9.4 Million Equity Placement). Excelsior has issued to Greenstone an aggregate of 13,050,840 Excelsior common shares at an aggregate subscription price of US$9.443 million, or equal to approximately C$0.95 per share at current exchange rates (the "Greenstone Financing"). Greenstone now holds a total of 113,928,937 Common Shares, which represents approximately 48.56% of Excelsior's issued and outstanding Common Shares. The common shares issued to Greenstone in the Greenstone Financing are subject to a statutory four-month plus one-day hold period expiring on April 6, 2019.

Stock Option Exercise Program

The Company also confirms that it has implemented a stock option exercise program (the "Program") for the block of stock options that expire as of December 31, 2018. These stock options were originally issued from 2010 to 2012 and have been held by optionholders for 6-8 years. The intention of the Program was to minimize any impact on the Company's share price by avoiding the sale of a large block of shares all at once or over a short time period. The Program was also set-up to minimize dilution resulting from the exercise of stock options. The Program involved two steps. Firstly, optionholders completed a "net exercise" whereby optionholders receive a net amount of shares by reducing the amount they would otherwise be issued to cover the exercise price. The second step was the Company repurchased from each optionholder (at the market price) a sufficient number of shares to cover the taxes of the optionholders associated with the exercise. As a result of the Program, a total of 1,630,727 shares were repurchased by the Company and cancelled, and a final net amount of 3,407,479 shares were issued to optionholders. The Program was completed without any shares being sold in the market to cover exercise price or tax obligations.

About Greenstone

Greenstone is a private equity fund specialising in the mining and metals sector. The Greenstone team has over 80 years of experience in the sector covering all aspects of mining project development. Further details on Greenstone can be found at www.greenstoneresources.com.

Greenstone is acquiring the securities in the offering described herein for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of Excelsior or continue to hold its current position.

A copy of the early warning report required to be filed with the applicable securities commission in connection with the transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Matt Hornton and Gordon Purvis at +44 1481810100. Greenstone's address is set out below.

Greenstone Contact Information:
Greenstone Resources L.P.
PO Box 656
East Wing
Trafalgar Court, Les Banques
St. Peter Port, Guernsey
GY1 3PP
Channel Islands

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the timeline for commencement of commercial production from the Gunnison Copper Project; and (iii) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary materials to continue to develop and construct the Gunnison Copper Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, 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.

Phoenix, Arizona--(Newsfile Corp. - December 5, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce that Altius Royalty Corporation ("Altius") has exercised the final royalty option under the Share Purchase and Royalty Option Agreement dated July 19, 2013 between the Company and Altius. As a result of the exercise of the final option, Altius has paid the Company C$5.0 million and in return received an additional gross revenue royalty ("Construction GRR") on the Gunnison Copper Project.

"This investment by one of the mining industry's foremost royalty companies is another significant endorsement for the Gunnison Copper Project," said Excelsior's President and CEO, Stephen Twyerould. "As we transition into the next new copper producer in the United States, we do so from a position of fiscal strength supported by excellent funding partners such as Altius."

"We have been continually impressed by Excelsior's ability to overcome challenging conditions and to ultimately deliver the Gunnison Copper Project to this construction decision milestone. We offer our sincere congratulations to the team and look forward to Gunnison becoming the 16th paying royalty in our portfolio," said Brian Dalton, President and CEO of Altius.

The terms of the Construction GRR are Altius has paid C$5.0 million for a gross revenue royalty that is equal to (i) 0.625% while the plant capacity of all the plants operated or constructed by the Company or its affiliates for use in connection with the Gunnison Copper Project ("Plant Capacity") is less than 75 million lbs. of copper per annum; and (ii) 0.5% while the Plant Capacity is greater than or equal to 75 million lbs. of copper per annum.

Combined with the GRRs that Altius previously acquired (see Excelsior news releases July 29, 2014 and August 1, 2013) Altius now holds a 1.625% GRR on the Gunnison Copper Project while Plant Capacity is less than 75 million lbs. of copper per annum and 1.5% while the Plant Capacity is greater than or equal to 75 million lbs. of copper per annum.

About Altius

Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre‐development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. In addition, Altius holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the timeline for commencement of construction and commercial production from the Gunnison Copper Project; and (iII) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Copper Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Copper 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.

Phoenix, Arizona--(Newsfile Corp. - December 4, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce that construction has started at the Gunnison Copper Project ("Gunnison"), in southeast Arizona; first copper production is anticipated in Q4 of 2019.

"Our ability to move quickly from the close of project financing to the initiation of construction at our Gunnison Copper Project is a demonstration of the operational capacity and experience of the Excelsior team," said Stephen Twyerould, President & CEO. "We look forward to updating all stakeholders as we move through the construction process. Our approach during this stage of development will remain, as always, focused on delivering technical excellence and long-term value for our shareholders."

Hydro Resources has commenced drilling the production wellfield and the accompanying compliance wells. Hydro Resources are experienced in-situ recovery ("ISR") wellfield drillers; this experience includes drilling for in-situ copper recovery projects. There are currently three drilling rigs on site with two additional drilling rigs arriving in January. A total of 63 wells, including 41 production wells and 22 compliance wells totalling approximately 82,000 feet will be completed. The significant number of compliance wells will ensure groundwater protection as per state and federal regulatory requirements. Drilling of the production wellfield is expected to be finished in Q2 of 2019. The initial wellfield area will be 400 feet by 400 feet with a spacing of approximately 70 feet between delivery and production wells.

Schmueser and Associates has been chosen as the general contractor. Construction activities will include:

  • Wellfield drilling and infrastructure - The wellfield has been designed to provide maximum operational flexibility including reversing wells and adjustable flowrates to maximize copper production.
  • Access road construction - An additional access road south of the I10 Highway is currently being installed. The Gunnison Copper Project is one of the most easily accessible mining projects in the world.
  • Johnson Camp Mine ("JCM") plant upgrades - Upgrades to the processing facilities include enhanced controls and instrumentation, new rectifiers, increased solution heating capacity as well as a number of other modifications that will ensure Gunnison produces Grade A, 99.999% pure copper cathode.
  • Pipeline distribution and infrastructure - A two-mile-long high-density polyethylene (HDPE) pipeline corridor will safely transport solution to the JCM processing facilities. Pipeline corridor liners, double-pipe containment and maintenance ponds will ensure best practice in terms of environmental management and safety.
  • Electrical distribution and infrastructure - Electrical distribution to the wellfield will include moving and utilizing the existing substation near the crushing facilities that are currently on care and maintenance; thereby providing substantial cost savings to Excelsior.
  • Process pond upgrades and completions - The existing ponds are being modified to accommodate the copper solutions from the wellfield. Additional pregnant leach solution (PLS) capacity is also being created at Gunnison to provide operational flexibility.
  • New acid storage facilities - These new facilities have been designed to enable the Company to take advantage of market acid pricing opportunities as they arise.

"Schmueser & Associates, LLC is pleased to have been selected as the General Contractor for the Stage I Gunnison Copper Project/Johnson Camp Mine," said Larry Schmueser II, President of Schmueser & Associates. "We look forward to working with Excelsior Mining Corp. on this low cost, environmentally friendly, copper production process. The goal of our Project Team puts a priority on safety with the understanding that achieving the budget and schedule are critical to the success of the project."

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, fully finance, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (ii) the details of the various construction activities that will be undertaken on the Gunnison Copper Project; (iii) the potential for cost savings;; and (iii) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, 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.

Phoenix, Arizona--(Newsfile Corp. - November 30, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce that the Company has closed a US$75 million project financing package (collectively, the "Financing") (see Excelsior press release dated October 31, 2018). The Financing has been provided by Triple Flag Mining Finance Bermuda Ltd. ("Triple Flag"), and consists of a US$65 million copper metal stream (the "Stream") and a concurrent US$10 million private placement of common shares of Excelsior (the "Equity Placement").

"With this comprehensive financing package, Excelsior will initiate construction activities at the Gunnison Copper Project before year-end," said Stephen Twyerould, President & CEO. "With the two crucial milestones of permitting and construction financing now behind us, we look forward to unlocking the remarkable economics of this project as we advance towards first copper production from the wellfield in 2019."

The closing of the Financing resulted in Excelsior receiving initial gross proceeds of US$20 million. This amount consists of the initial US$10 million of the US$65 million deposit (the "Stage 1 Upfront Deposit") under the terms of a metals purchase and sale agreement (the "Stream Agreement"), and US$10 million proceeds of the Equity Placement. The balance of the Stage 1 Upfront Deposit will be provided in instalments at the request of Excelsior as it expends or allocates previously received funds for the construction of the Gunnison Copper Project. As per the Equity Placement component of the Financing, Excelsior has issued to Triple Flag 13,818,977 common shares at an aggregate subscription price of US$10 million, or equal to approximately Cdn$0.95 per share at current exchange rates. The common shares are subject to a four-month statutory hold period that expires on March 31, 2018.

In consideration of the Stream, Excelsior has also issued to Triple Flag 3.5 million five-year common share purchase warrants, whose five-year term shall begin on November 30, 2018, entitling Triple Flag to purchase 3.5 million Excelsior common shares at a strike price of C$1.50 per share issued.

Excelsior is expecting an additional US$9.4 million in financing proceeds from affiliates of Greenstone Resources L.P. pursuant to the terms of a previously announced subscription agreement (see Excelsior news release dated November 21, 2018 - Greenstone Resources Confirms US$9.4 Million Equity Placement). In addition, if Altius Royalty Corporation chooses to exercise its construction royalty option, Excelsior shall receive an further Cdn$5 million in financing proceeds.

Construction Decision

Excelsior also announces that the decision has been made by the Board of Director's to proceed with construction at the Gunnison Copper Project. This decision follows the close of the US$75 million Financing.

"With access to over US$75 million in capital, Excelsior is ideally positioned to start construction this year, and we are supremely confident in the ability of our management team to execute and maintain our construction schedule," added Mark Morabito, the Chairman of the Board. "I want to thank our project financing partners, Triple Flag and Greenstone Resources for their commitment and support as we now move towards first production in 2019."

About Triple Flag

Triple Flag Mining Finance Bermuda Ltd. and Triple Flag Mining Finance Ltd. together constitute Triple Flag Mining. Triple Flag Mining primarily targets streaming and royalty investments in the mining sector with backing by funds advised by Elliott Management Corporation, an experienced global investment firm with more than $35 billion of assets under management. Triple Flag Mining's focus is on being a leading sought-after long-term funding partner to mining companies throughout the commodity cycle. In less than 2 years, Triple Flag has committed over US$800 million to the mining sector, with a primary focus on precious metal streaming and royalty investments. For more information, visit http://www.tripleflagmining.com.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the receipt of future instalments under the Stream Agreement; (ii) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (iii) the timeline for commencement of construction and commercial production from the Gunnison Copper Project; (iv) the closing of the Greenstone financing; (v) the exercise by Altius Royalty Corporation of its construction royalty option; and (v) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Copper Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Copper 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.

Phoenix, Arizona--(Newsfile Corp. - November 21, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce that in conjunction with the previously announced project financing package (the "Triple Flag Financing") (See Excelsior news release dated October 31, 2018 - Excelsior Mining Secures US$75 Million Project Financing Package), Excelsior and affiliates of Greenstone Resources L.P. ("Greenstone") have entered into a subscription agreement with respect to the exercise of Greenstone's pro-rata right over the issuance of common shares of the Company ("Common Shares"). Excelsior will issue to Greenstone an aggregate of 13,050,840 Excelsior common shares at an aggregate subscription price of US$9.443 million, or equal to approximately C$0.95 per share at current exchange rates (the "Greenstone Financing").

Greenstone currently holds 100,878,097 Common Shares (representing 48.56% of the Company's current issued and outstanding Common Shares). Upon closing of the Greenstone Financing and the Triple Flag Financing, Greenstone will hold a total of 113,928,937 Common Shares, which will represent approximately 48.56% of Excelsior's issued and outstanding Common Shares (post-closing of the Greenstone Financing and Triple Flag Financing). The closing of the Greenstone Financing is subject to various conditions, including the approval of the Toronto Stock Exchange and the closing of the Triple Flag Financing.

Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), Greenstone's participation in the Offering constitutes a "related party transaction" as Greenstone is a related party of the Company. The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that at the time Greenstone's participation in the Offering was agreed to, neither the fair market value of the securities to be distributed in the Offering nor the consideration to be received for those securities, insofar as the Offering involved the related party, exceeds 25% of the Company's market capitalization. The Common Shares that will be acquired by Greenstone will be acquired pursuant to an exemption from the prospectus requirement in section 2.3 of National Instrument 45-106.

About Greenstone

Greenstone is a private equity fund specialising in the mining and metals sector. The Greenstone team has over 80 years of experience in the sector covering all aspects of mining project development. Further details on Greenstone can be found at www.greenstoneresources.com.

Greenstone is acquiring the securities in the offering described herein for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of Excelsior or continue to hold its current position.

A copy of the early warning report required to be filed with the applicable securities commission in connection with the transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Matt Hornton and Gordon Purvis at +44 1481810100. Greenstone's address is set out below.

Greenstone Contact Information:
Greenstone Resources L.P.
PO Box 656
East Wing
Trafalgar Court, Les Banques
St. Peter Port, Guernsey
GY1 3PP
Channel Islands

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the closing the Greenstone Financing and Triple Flag Financing, (ii) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (iii) the timeline for commencement of construction and commercial production from the Gunnison Copper Project; and (iv) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Copper Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Copper 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.

Phoenix, Arizona--(Newsfile Corp. - November 13, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to provide an update on pre-production preparations at the fully-permitted Gunnison Copper Project in southeast Arizona. Ramp-up activities at the Johnson Camp Mine (JCM) have been running in parallel with the permitting process as the Company seeks to ensure an efficient transition into the pending construction and production phases. Excelsior is now poised to be a major long-term employer within Cochise County for the next quarter century.

The number of employees at JCM now totals 31 individuals, as the Company fills essential positions related to production. Key management personnel are in place and essential employees required to operate the production facility at JCM are being hired at a rapid pace. The JCM offices have been fully refurbished in anticipation of start-up. In addition, the drilling contract for the well field is in place and the contractor is awaiting instructions to mobilize the drilling rigs. Long lead items have been ordered and drill casing is currently on site and awaiting the arrival of the first drill rig. Additionally, early equipment and vehicles have been purchased.

Both basic and detailed engineering are complete. The Project Execution Plan and Construction Plans are also complete. A general contractor has been selected and all other major contracts have now been concluded. Key corporate systems, such as safety and environment, are now in place and implemented. All other corporate systems, such as the Enterprise Resource Planning (ERP) are nearing the completion of the implementation process.

On the personnel side, one of the key hires is Cregg Bossard brought aboard as the senior project manager responsible for mine construction. Mr. Bossard has more than 42 years' experience in the mining, environmental remediation, and construction industries. He has worked in operations, research and development, technical sales, engineering, and construction across the entire spectrum of the mining operations. Mr. Bossard was most recently with Fluor Enterprises, where as a project director and area manager, he was responsible for engineering, procurement and construction, systemization and commissioning activities in several mining projects worldwide, including the US$ 1.7 billion Ras Al-Khair Area for the Wa'ad Al-Shamal Phosphate EPC Project.

Commenting on these pre-production activities, Excelsior's Chief Operating Officer, Roland Goodgame said, "We want to assure all stakeholders that we will be ready to move into production next year as per our schedule. During the permitting process, we have been ramping up activity at JCM so that we will be in a position to move seamlessly into the construction and production phases."

About Excelsior Mining

Excelsior Mining "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to:; (i) economic benefits from the Gunnison Project; (ii) the completion of start-up activities for construction, commencement and completion of construction and the start commencement of commercial production from the Gunnison Project; (iii) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; and (iv) the ability to mine the Gunnison Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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, 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.

Phoenix, Arizona--(Newsfile Corp. - October 31, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce that the Company has entered into an agreement for a US$75 million project financing package. This comprehensive funding plan will enable Excelsior to transition the fully-permitted Gunnison Copper Project in southeastern Arizona into America's next new copper producer.

Stephen Twyerould, the President & CEO, commented, "In today's challenging mining market, only quality projects are able to secure funding. This financing delivers superior long-term economics for shareholders and allows us to quickly move into construction this year. Excelsior's pathway to achieving producer status is now clear, and we look forward to bringing the USA's next new strategic metal producer online in 2019."

Shaun Usmar, CEO of Triple Flag Mining Finance Ltd., commented, "Triple Flag is excited to partner with Excelsior to finance the Gunnison Copper Project. Our flexible and innovative financing will allow the Gunnison Copper Project to quickly proceed to construction and production over the next year, delivering a new, low-cost source of American copper. We congratulate the Excelsior team for its impressive progress in advancing this project to fully funded status."

Financing Package Highlights

The US$75 million project financing package (collectively, the "Financing") will be provided by Triple Flag Mining Finance Bermuda Ltd. ("Triple Flag"), and consists of a US$65 million copper metal stream (the "Stream") and a concurrent US$10 million private placement of common shares of Excelsior (the "Equity Placement"). The closing of these funding commitments is subject to various conditions, including the approval of the Toronto Stock Exchange. The Financing is expected to close during November 2018 (the "Closing Date").

Benefits for Excelsior

  • The Financing provides Excelsior with a comprehensive project funding solution that would cover all capital expenditures and working capital requirements related to the start-up of the Gunnison Copper Project.
  • The Stream is not subject to interest payments and is unsecured, thereby allowing for future project debt financing to expand the project production capacity up to the targeted 125 million pounds per year.
  • The Stream provides an option for Triple Flag to provide an additional US$65 million in funding for the second stage expansion of the Gunnison Copper Project, while also preserving the right of Excelsior to buy-down 50% of the Stream.
  • The Equity Placement provides further alignment between Excelsior and Triple Flag, with Triple Flag acting as a true project partner.
  • This transaction allows Excelsior to complete the construction without incurring project debt financing or the issuance of a large number of shares in a poor equity market.

Details of the Financing

Upfront Deposit

Excelsior and its subsidiaries, Excelsior Mining Arizona, Inc. ("Excelsior Arizona") and Excelsior Mining JCM, Inc. ("JCM"), have entered into a metals purchase and sale agreement (the "Stream Agreement") with Triple Flag, whereby Triple Flag has committed to fund a deposit of US$65 million (the "Stage 1 Upfront Deposit") against the future sale and delivery by Excelsior Arizona of a percentage of the refined copper production from the Gunnison Copper Project. Excelsior will sell to Triple Flag this percentage of refined copper at a price equal to 25% of the copper spot price. The exact percentages of copper production to be sold to Triple Flag varies as per the total production capacity. These percentages are detailed in the table below.

  Stage 1
(25 M lbs/yr)
Stage 2
(75 M lbs/yr)
Stage 3
(125 M lbs/yr)
Stage 1 Upfront Deposit 16.5% 5.75% 3.5%

 

"At full production of 125 million pounds per annum, and using the same US$2.75 copper price from our Feasibility Study, the Stream would add just an additional 7 cents per pound to our industry-leading all-in-sustaining operating costs of US$1.23 per pound," added Stephen Twyerould. "With this Stream, the Gunnison Copper Project would still be one of the lowest cost pure copper producers in the United States, and one of the lowest capex per pound copper projects in the industry."

In consideration of the Stream, Excelsior shall also issue to Triple Flag 3.5 million five-year common share purchase warrants, whose five-year term shall begin on the Closing Date, entitling Triple Flag to purchase 3.5 million Excelsior common shares at a strike price of C$1.50 per share issued.

Triple Flag Expansion Option and Excelsior Buy-Down Right

Subsequent to notice from Excelsior that the Company will be expanding production capacity to an amount equal to or greater than 50 million pounds per annum, Triple Flag will have the option to increase its stream participation by paying an additional US$65 million (the "Expansion Upfront Deposit").

Excelsior also retains the option to reduce the amount of the Stream by 50% by making a buy-down payment to Triple Flag (the "Buy-Down Payment"). The amount of the Buy-Down Payment depends on whether Triple Flag has exercised its option to provide the Expansion Upfront Deposit. The Buy-Down Payment is calculated as an amount that provides Triple Flag with an internal rate of return of 15% on 50% of the Stage 1 Upfront Deposit and, if applicable, 15% on 50% of the Expansion Upfront Deposit (in each case after taking into account the value of Stream deliveries (net of the 25% purchase price payment for such deliveries) made to Triple Flag prior to its payment).

The table below shows the percentage of production to be acquired by Triple Flag based on scenarios that include Triple Flag's Expansion Option and Excelsior's Buy-Down Right.

  Stage 1
(25 M lbs/yr)
Stage 2
(75 M lbs/yr)
Stage 3
(125 M lbs/yr)
Stage 1 Upfront Deposit + Expansion Option 16.5% 11.0% 6.6%
Stage 1 Upfront Deposit + Expansion Option + Buy-Down Right 16.5% 5.5% 3.3%
Stage 1 Upfront Deposit + Buy-Down Right 16.5% 2.875% 1.75%

 

Equity Placement

In conjunction with the Stream, Excelsior will complete the Equity Placement to raise proceeds of US$10 million (net of applicable fees and expenses). The Equity Placement will consist of the issuance to Triple Flag of an aggregate of 13,818,977 Excelsior common shares at an aggregate subscription price of US $10 million, or equal to approximately Cdn$0.95 per share at current exchange rates. In addition, affiliates of Greenstone Resources L.P. retain a pre-emptive right over the issuance of common shares of the Company. The overall size of the Equity Placement may be increased up to US$20 million dependent upon Greenstone's decision to exercise its pre-emptive right and in what proportion.

Advisors

Blake, Cassels & Graydon LLP acted as legal counsel to the Company. Torys LLP acted as legal counsel to Triple Flag. Clarksons Platou Securities AS and BMO Capital Markets acted as financial advisors to the Company.

About Triple Flag

Triple Flag Mining Finance Bermuda Ltd. and Triple Flag Mining Finance Ltd. together constitute Triple Flag Mining. Triple Flag Mining primarily targets streaming and royalty investments in the mining sector with backing by Elliott Management Corporation, an experienced global investment firm with more than $35 billion of assets under management. Triple Flag Mining's focus is on being a leading sought-after long-term funding partner to mining companies throughout the commodity cycle. In less than 2 years, Triple Flag has committed over US$800 million to the mining sector, with a primary focus on precious metal streaming and royalty investments. For more information, visit http://www.tripleflagmining.com.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is a fully-permitted, advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD

"Stephen Twyerould"
President & CEO

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the closing the Financing, (ii) whether, and the extent which, Triple Flag will increase its stream and provide Excelsior additional funding (iii) Greenstone's participation in the Equity Placement, (iv) the results of the Feasibility Study, including operating and capital cost estimates and the economic benefits from the Gunnison Copper Project; (v) the timeline for commencement of construction and commercial production from the Gunnison Copper Project; and (vi) the ability to mine the Gunnison Copper Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Copper Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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 Copper 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, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Copper 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.

Phoenix, Arizona--(Newsfile Corp. - October 16, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that the Class III Underground Injection Control Area Permit for the Gunnison Copper Project (the "UIC Permit") is now active and good for production of up to 125 million pounds of pure copper cathode per annum. All required state and federal operating permits have now been successfully obtained.

Stephen Twyerould, President & CEO, said, "I'm extremely proud of our team that have worked so diligently with regulatory agencies, community and stakeholders to deliver this significant milestone. It represents a tremendous value-creation step as we continue moving towards production in what will be one of the most environmentally friendly and cost-effective copper projects in North America."

The Chairman of Excelsior Mining, Mark Morabito, added, "With the appeal process officially exhausted, we now have a fully permitted project that is genuinely on the cusp of achieving low cost copper production through the most environmentally friendly process available within the industry today. I congratulate the entire Excelsior team on achieving this positive outcome, and I look forward to seeing Excelsior unlock the true value of this tremendous asset."

To recap Excelsior's permitting process, in September, 2017, the Arizona Department of Environmental Quality ("ADEQ") issued an Aquifer Protection Permit for Gunnison Copper Project; this completed the Arizona State permitting process. On June 22, 2018 the Environmental Protection Agency (the "EPA") issued Excelsior the UIC Permit with an effective date of August 1, 2018. An appeal (the "Appeal") of the UIC Permit was subsequently filed by a coalition of non-governmental organizations (the "Petitioners") (See Excelsior Mining news release dated August 6, 2018 — "Excelsior Provides Permitting Update"). All appeals are reviewed by the Environmental Appeals Board (the "EAB"). Excelsior announced on October 5, 2018 that a Settlement Agreement (the "Agreement") had been concluded that would result in the dismissal of the Appeal. As per the terms of the Agreement, Excelsior, the EPA, and the Petitioners submitted to the EAB a joint motion to dismiss the Appeal (see Excelsior news release dated October 5, 2018 — "Excelsior Mining Confirms Agreement to Dismiss UIC Permit Appeal"). The EAB has now accepted the joint motion dismissing the Appeal, and the EPA has lifted the stay, thereby resulting in the UIC Permit becoming effective. The permitting process is now completed with all key operating permits in place and effective.

Excelsior will be ready to commence construction upon the completion of its project financing plan. The Gunnison Copper Project remains on-track to be the next new copper producer in the United States, with initial production scheduled for 2019.

About Excelsior Mining

Excelsior Mining "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study" dated effective December 17, 2016.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD

"Stephen Twyerould"
President & CEO

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to:; (i) economic benefits from the Gunnison Project; (ii) the commencement of commercial production from the Gunnison Project; and (iii) the ability to mine the Gunnison Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, 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, 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.

Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the “Company”) is pleased to announce that a Settlement Agreement (the “Agreement”) has been concluded that will result in the dismissal of the appeal (the “Appeal”) filed with respect to the Company’s Class III Underground Injection Control Area Permit (the “UIC Permit”) for the Gunnison Copper Project.

On June 22, the Environmental Protection Agency (the “EPA”) issued Excelsior the UIC Permit with an effective date of August 1, 2018. An appeal of the UIC permit was subsequently filed by a coalition of non-governmental organizations (the “Petitioners”) (See Excelsior Mining news release dated August 6, 2018 – “Excelsior Provides Permitting Update”). All appeals are reviewed by the Environmental Appeals Board (the “EAB”). As per the terms of the Agreement, Excelsior, the EPA, and the Petitioners have submitted to the EAB a joint stipulated motion to dismiss the Appeal. It is anticipated that the EAB will accept the joint motion to dismiss the Appeal which, subject to notice by the EAB, will prompt the EPA to lift the stay, thereby resulting in the UIC Permit becoming effective with permanence.

The Agreement provides for additional monitoring wells and certain other matters. The Agreement does not take the place of the extensive protective measures, monitoring and reporting requirements of the Federal EPA UIC Permit and the State ADEQ Aquifer Protection Permit. However, it does provide for additional items that are a benefit to local stakeholders.

With all key permits in place and effective, Excelsior will be in position to commence construction upon the completion of its project financing plan. Excelsior’s Gunnison Copper project remains poised to be the next new copper producer in the United States.

About Excelsior Mining

Excelsior Mining “The Copper Solution Company” is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Excelsior’s technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.

Additional 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, Feasibility Study” dated effective December 17, 2016. For more information on Excelsior, please visit our website at www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD
"Stephen Twyerould"
President & CEO


For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

JJ Jennex, Vice President, Corporate Affairs
T: 604-681-8030 x240
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) economic benefits from the Gunnison Project; (ii) the commencement of commercial production from the Gunnison Project; and (iii) the ability to mine the Gunnison Project using in-situ recovery mining techniques.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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 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 develop and construct the Gunnison Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, , 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, , 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.

 

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Corporate
Presentation

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Feasibility
Study

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In-situ
Recovery
Video

IN SITU 05

What is
In-Situ Mining