http://media.marketwire.com/attachments/201305/156883_EXLA_logo.jpghttp://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=1032316&ProfileId=051205&sourceType=1WENATCHEE, WA -- (Marketwired) -- 07/08/13 -- Excelsior Gold and Metal Corp. (OTCBB: EXLA)
The company has been approached by several unrelated Investor groups, wanting to participate in the company. We will delay being more specific until the company works out the details with the financiers.
The company is negotiating with a group in Mindanao, Philippines, who could buy the comapany's entire production. Typically the ore buyer pays for the ore at the mine head and picks up all shipping and other cost. This is the best and most cost effective way for a smaller company to mine, because it reduces the permitting cost, a mill isn't necessary, there is no tailings pond, or environmental hazard to deal with, thus saving well over $10M.
The road leading to the mine is currently being inspected and will soon be repaired in a manner more conducive to productive mines.
Paul Donaldson, PhD
CEO
208-761-5970