PHOENIX, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Excelsior Mining Corp. (TSX:MIN) (FSE:3XS)
(OTCQX:EXMGF) ("Excelsior" or the “Company”) announces that the United States Environmental
Protection Agency (“EPA”) has informed the Company that the public comment period for the Underground Injection Control (“UIC”)
permit, for the Gunnison Copper Project, will be extended in order to facilitate a public meeting (the “Public Meeting”). The
Public Meeting is scheduled for February 27, 2018 in Dragoon, Arizona.
The timing of the issuance of the final UIC permit is subject to the completion of the public comment period.
The UIC permit remains the last permit required to start construction and get into production.
Stephen Twyerould, the President and CEO, said, “We look forward to working with the EPA and all stakeholders to
ensure our Gunnison Copper Project meets all regulatory requirements. The Public Meeting is a typical part of the permitting
process and represents an opportunity for the communities around us to learn more about the Project prior to receipt of the final
EPA Permit. Backed by industry-leading economics, and our commitment to environmental stewardship, the Gunnison Copper Project
remains on-track to become 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: info@excelsiormining.com
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 timeline for, and the completion of, the permitting process; (ii) economic benefits from the Gunnison
Project; (iii) the commencement of commercial production from the Gunnison 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 completion of
the permitting process, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental
risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the
exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be
redefined including the possibility that mining operations may not commence at the Gunnison Project, risks relating to variations
in mineral resources and reserves, grade or recovery rates resulting from current exploration and development activities, risks
relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide
demand for and supply of copper and related products, risks related to increased competition in the market for copper and related
products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the
estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of
mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of
delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to
the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the
financing necessary to fund the exploration and development activities at the Gunnison Project may not be available on satisfactory
terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks
identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities
regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking information, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by
applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking
information.
