Gunnison Copper Corp T.GCU

Excelsior Mining Announces Option Agreement

[Betteryear2]

Phoenix, Arizona--(Newsfile Corp. - July 31, 2023) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQB: EXMGF) ("Excelsior" or the "Company") is pleased to announce that it has entered into an Option Agreement (the "Agreement") with Nuton LLC, a Rio Tinto venture, to further evaluate the use of its Nuton™ copper heap leaching technologies at Excelsior's Johnson Camp mine in Cochise County, Arizona. Under the Agreement, Excelsior remains the operator and Nuton funds Excelsior's costs associated with a two-stage work program at Johnson Camp. Nuton will provide a US$3 million pre-payment to Excelsior for Stage 1 costs and a payment of US$2 million for an exclusive option to form a joint venture with Excelsior over the Johnson Camp Mine after the completion of Stage 2.

Excelsior Mining Announces Option Agreement with Nuton, a Rio Tinto Venture (newsfilecorp.com)

[Buckfinder]

Good to have Nuton (and Rio Tinto...) on board! They would not enter into such agreement without seeing a potential to extract ! It is a big project in Arizona with the right mix of metals necessary for the green wave in the next 10 years... glta 

[giovinco]

Showing same price trend as alderon which went bankrupt. Rio would invest itself if there was any value and it is just a trial to see if there is any value there. Playing it safer with a venture. Anyway, in-situ just does not work. No copper company had success from it.

[Streicher]

That is not correct. Read this for starters. 2016  https://www.mining.com/web/in-situ-copper-leaching-is-a-proven-technology/

[giovinco]

Really? It is proven in uranium mining. Also the last case of low cost in-situ mine was more than 10 years ago, never used again. We will see in a year or two. My advice is get out while you can. There was a guy here few years ago saying it will never work, everyone should have listened. When Mark Morabito gets involved at any point, everything goes south. Look at all the companies that Mark was

[Streicher]

As for the remark "Rio would invest itself", that is also not true. The project is too small for a senior miner like Rio Tinto, not because it is non viable.  This is a junior miners target.