Phoenix, Arizona--(Newsfile Corp. - August 15, 2018) - Excelsior Mining Corp. (TSX: MIN) (OTCQX: EXMGF)
(FSE: 3XS) ("Excelsior" or the "Company") is pleased to announce the appointment of Mr. Barry Dahl as
Chief Financial Officer ("CFO"). Mr. Dahl has replaced Carlo Valente who had served as the Company's Interim CFO. The Company
thanks Mr. Valente for his valuable contributions during the search for a new CFO. This change is part of a larger ongoing
transition of the Company from developer to producer as the Gunnison Copper Project targets commercial production in 2019.
Mr. Dahl is a seasoned CFO in the mining sector and has over 30 years of varied accounting and finance experience. His focus
will be on financial strategies and core internal operations as Excelsior grows. Mr. Dahl spent the past five years as the CFO of
Klondex Mines, which was recently acquired for US$462 million. Prior to that Mr. Dahl was CFO of Argonaut Gold. While at Klondex
Mines he helped raise over C$200 million in various equity financings; negotiated royalty and streaming contracts and established a
US$40 million line of credit with a major bank. Mr. Dahl is a CPA and earned an MBA with distinction from New York Institute of
Technology and a bachelor of science degree in accounting from Brigham Young University. Mr. Dahl's exceptional skill set in
financial structuring and strategic planning will serve Excelsior well as the Company moves through the final project financing
stage and into commercial copper production.
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, President & CEO of Excelsior,
Fellow of AUSIMM 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.
Further 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, Prefeasibility Study
Update" dated effective January 28, 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 commercial production from the Gunnison Project;
(ii) the results of the Feasibility Study; 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 exploration and 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
explore and develop the Gunnison Project in the short and long-term, the progress of exploration and development activities, the
receipt of necessary regulatory approvals, the completion of the permitting process (including the resolution of any
filed appeals), 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and no securities regulatory authority has
either approved or disapproved of the contents of this release.
