Phoenix, Arizona--(Newsfile Corp. - May 15, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF)
("Excelsior" or the "Company") announces that Carlo Valente, the former Chief Financial Officer of the Company, has
assumed the role of Interim CFO following the departure of Mark Distler, who has left the Company to pursue other opportunities.
Excelsior has engaged international recruitment firm, Korn Ferry, to help secure a new CFO with the required production-related
experience as Excelsior completes the transition from development company to copper producer. This recruitment process is advanced
and is expected to be completed shortly.
Mr. Valente served previously as Excelsior's CFO from 2014 to 2016, during which time the Company purchased and integrated the
neighboring Johnson Camp Mine. His previous experience with Excelsior Mining ensures continuity as the Company completes the final
stage of the permitting process. Mr. Valente has over two decades of international business development, corporate advisory,
M&A, corporate finance and accounting experience. Mr. Valente has a Bachelor of Business Administration from Simon Fraser
University and he obtained his CA designation in 2000.
Excelsior remains on-track to become the next new copper producer in the United States. The Environmental Protection Agency
('EPA") is expected to grant an Underground Injection Control (UIC) permit prior to the end of the second quarter; this is the last
permit required prior to the commencement of production.
The Company thanks Mr. Distler for his contributions during his tenure as CFO and wishes him well as he pursues other
interests.
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; (iv) the results of the feasibility study;
and (v) 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.
