Excelsior Energy Limited

Excelsior Energy Limited

June 18, 2010 19:36 ET

Excelsior Energy Grants Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - June 18, 2010) - Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Company") is pleased to announce that pursuant to the terms and conditions of its stock option plan, it has granted, in the aggregate, 4,083,615 incentive stock options to purchase common shares of Excelsior (the "Options") to directors. The Options are exercisable over a five year period at $0.27 per common share, which Options shall vest as to 1/3 per year starting from the date of grant.

About Excelsior Energy

Excelsior is an early stage, oil sands company with 58 operated sections on two contiguous blocks in the Hangingstone and West Surmont areas of the Athabasca Oil Sands Region near Fort McMurray, Alberta. The Company has developed a proprietary in situ combustion technology ("Combustion Overhead Gravity Drainage" or "COGD") which has potential to improve economic and environmental impact in the development and recovery of heavy oil and bitumen. An application for an experimental pilot project to field demonstrate the COGD technology was submitted in the second quarter of 2009. Project approval is expected in the latter half of 2010 with subsequent implementation and commissioning in early 2011. Excelsior's strategy is to capture oil and gas appraisal and development opportunities where we can leverage Management's diverse international operating, heavy oil and field development expertise with developing technologies to produce oil and gas.

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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