Excelsior Appoints New Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2011) - Excelsior Mining Corp. (TSX VENTURE:MIN)(OTCQX:EXMGF)(PINK SHEETS:EXMGF)(FRANKFURT:3XS) ("Excelsior") is pleased to announce the appointment of Samuel Yik as Chief Financial Officer, effective as of December 1, 2011.

Mr. Yik is a Chartered Accountant with over 17 years of financial and international business experience in resource based public companies with market capitalizations ranging from $10 million to $2 billion. He spent the past seven years in senior level management roles in the mining industry. Mr. Yik has experience with both exploration and commercially producing mining companies and was formerly the Chief Financial Officer for a mineral exploration company which is dually listed on both the TSX-V and NYSE AMEX. Mr. Yik also holds a Bachelor's degree in Commerce from the University of British Columbia.

"We are fortunate to be able to welcome Sam to the Excelsior team," stated Stephen Twyerould, President & CEO of Excelsior. "His experience on both the exploration and mining sides of our industry will be invaluable as we develop the Gunnison Copper Project."

In order to make way for Mr. Yik, Ms. Atwal has resigned as Chief Financial Officer of Excelsior, as of the effective date of Mr. Yik's appointment. Excelsior and its Board of Directors would like to thank Ms. Atwal for her leadership and direction during her tenure as CFO.

About Excelsior

Excelsior is an exploration and development company with a copper project located within the copper porphyry belt of Arizona. The Gunnison Copper Project is located close to the required infrastructure and its oxide resource has the potential to be mined using in-situ recovery methods. The Excelsior team consists of experienced professionals with proven track records of advancing projects towards production.

Further details about Excelsior can be found at: http://www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD

Stephen Twyerould, President & CEO

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the timing of the future exploration on and the development of the Gunnison Project and the ability to mine Gunnison using in-situ recovery mining techniques are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.