Excelsior Mining Corp.

Excelsior Mining Corp.

February 02, 2011 08:30 ET

Excelsior Commences Metallurgical Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) -


Excelsior Mining Corp. (TSX VENTURE:MIN) ("Excelsior") is pleased to announce that a metallurgical program has commenced on the Gunnison Copper Project located within the copper porphyry belt in southeastern Arizona. 

Samples from two recently drilled metallurgical holes have been shipped to Hazen Laboratory in Denver, Colorado for column leach testing. Preliminary results are expected in the middle of the second quarter of 2011. The column leach tests will greatly improve the current understanding of in-situ copper extraction on the Gunnison Copper Project. Excelsior's metallurgical program will build upon prior work completed by Magma Copper Corporation ("Magma"). Magma drilled eight holes and completed several comprehensive metallurgical tests and hydrological studies. The Magma tests indicated acid consumption and copper recovery were favourable for in-situ mining on the Gunnison Project. 

"Previous testing was very encouraging and has warranted continued examination," says Stephen Twyerould, President & CEO of Excelsior. "We are excited to have commenced this next phase of our work program and look forward to the results in a few months."

The metallurgical program will be complimented by a hydrological program, which is expected to commence by the beginning of the second quarter of 2011. Management is expecting the two programs will confirm previous results that demonstrate the Gunnison Project can be mined using in-situ recovery methods.

The metallurgical program is being supervised by Dr. Aberra Getahun, Ph.D., General Manager Production and Permitting for Excelsior. Dr. Getahun has 25 years of experience in hydrogeology, in-situ solution mining, and acid generating and neutralizing capacity. Dr. Getahun holds a Ph.D. in Aqueous Geochemistry from the University of Oregon.

Stephen Twyerould (Fellow of AUSIMM), President and CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101, has reviewed and is responsible for the technical information contained in this news release.

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 with its in-situ recovery potential, is intended for near-term production. The Excelsior team consists of experienced professionals with proven track records of advancing projects towards production.

Further details about Excelsior can be found on Excelsior's website at: http://www.excelsiormining.com.


Stephen Twyerould, President & CEO

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 terms of the Transaction and final Exchange approval 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 the management discussion and analysis section of our interim and most recent annual financial statement 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 Excelsior 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.

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.

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