Excel Gold Mining Inc.

Excel Gold Mining Inc.

September 16, 2009 07:00 ET

Excel Gold Mining Inc. Announces the Signature of a Drilling Contract With Magma Drilling and Beginning of Its Exploration Works in the Montauban Mining Camp


Excel Gold Mining Inc. ("Excel", the "Company") announced today it has given "Magma Drilling" the mandate for exploration and drilling campaign of its properties in the Montauban mining camp.

"Magma Drilling" will begin on September 24, 2009 Phase 1 of its exploration works, following the plans prepared by the geologist firm "MRB & Associates" of Val-d'Or City. The initial phase of works is to initiate a strategic drilling campaign totaling 2,000 meter in order to evaluate the potential of the surface pillar of the old mine.

"Magma Drilling" has a high level of expertise in the area and the crew assigned to Montauban has acquired a unique knowledge of the camp and its potential due to their previous involvement in numerous exploration campaigns in camp on a period of more than 20 years.

Martin Harvey, Vice-President of Excel commented: "I am very proud to be part of this team and to begin this exploration campaign here in Quebec. The changes that we undertook since the beginning of 2009 are getting increasingly apparent. We carried a complete restructuring of the Company by increasing its properties value and by substantially reducing our operating costs as reflected in our financial statements.

Over the years, no other companies have been able to accumulate as many claims within the camp. This positioning will bring Excel many advantages and will provide a strong potential to profitable operations given the current increasing price for silver and gold.

We will now be able to build something concrete and we will evolve in a campaign that we will oversee on a day to day basis and be able to bring our investors and shareholders a better value."

"Neither 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."

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