Excelsior Energy Limited

Excelsior Energy Limited

April 29, 2010 13:10 ET

Excelsior Energy Provides Update on Previously Announced Private Placement

CALGARY, ALBERTA--(Marketwire - April 29, 2010) - Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Corporation") has been asked by the TSX Venture Exchange (the "TSXV") to announce that on April 20, 2010, the TSXV granted conditional approval to the private placement announced on April 16, 2010 subject to certain conditions, including that shareholder approval may be required if the private placement results in a new control person being created. Excelsior cannot proceed to complete the private placement until the TSXV has determined whether such shareholder approval is required for the private placement. The TSXV has advised Excelsior that it will be reviewing such matter but cannot, at this time, confirm when it will make its determination.

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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