May 17 th , 2011
Excelsior Mining Corp. (TSX- V: MIN) additional assay results from the drill program on copper porphyry belt in southern Arizona.
Drill Hole From (feet) NSD – 13 790.0 including 790.0
NSD – 10 561.5
NSD – 05 674.5
NSD – 02 605.0
Note: Holes not drilled in sequence.
“These latest assay results continue to demonstrate long interval s of highly of ample grade,” says Stephen Twyerould, President and CEO of Excels ior. “completed, we remain confident that the objectives of this program wi to move the majority of our current copper resource from the inferred to the indicated category Complete assay highlights with drill plan map are p osted on the Excelsior website at: http://excelsiormining.com/e/gunnison.php feet of drilling in 20 holes. Gunnison currently contains a National Inst rument (NI) 43 inferred resource of 4.77 billion pounds of copper (787 million tons at 0.30% copper) which remains open for expansion (see news release dated November 2, 2010). A expected at the end of the second quarter of 2011.
All samples are prepared from manually split half samples are then sent to Skyl ine Assayers & Laboratories in Tucson, Arizona for Total Copper and Sequential Copper analyses. Standards, blanks, and duplicate intervals in each sample batch submitted Assurance/Quality Control Program.
Excelsior’s exploration work on the Gunnison Property is supervised by Stephen Twyerould, Fellow of AUSIMM , President and CEO of Excelsior and a Twyerould has reviewed and is responsible for the technical information contained in this news release. Mr. Twyerould has verified the data disclosed in this news rel analytical and test data underlying the information disclosed in this news release. Mr.
verified that the results were accurate from the official assay certificates provided to
NEWS RELEASE
Completes Resource Upgrade Drill Program
(TSX-V: MIN V: MIN) (Frankfurt: 3XS) (“Excelsior”) is pleased to announce the drill program on the Gunnison Copper Property located with copper porphyry belt in southern Arizona. Highlights include: From (feet) To (feet) Length (feet) Total Copper %
1590.0 800.0 0.34
1360.0 570.0 0.42
1390.0 828.5 0.38
1130.0 455.5 0.33
1550.0 945.0 0.27
Note: Holes not drilled in sequence.
assay results continue to demonstrate long interval s of highly -fractured mineralized core says Stephen Twyerould, President and CEO of Excels ior. “ With the drilling now completed, we remain confident that the objectives of this program wi ll be met and that we will be able to move the majority of our current copper resource from the inferred to the indicated category Complete assay highlights with drill plan map are p osted on the Excelsior website at: http://excelsiormining.com/e/gunnison.php . The drill program is now compl eted with a total of holes. Gunnison currently contains a National Inst rument (NI) 43 inferred resource of 4.77 billion pounds of copper (787 million tons at 0.30% copper) which remains open for expansion (see news release dated November 2, 2010). A n upgraded resource estimate second quarter of 2011.
manually split half -core sections on site in Arizona. Split drill core ine Assayers & Laboratories in Tucson, Arizona for Total Copper and Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control Program.
Excelsior’s exploration work on the Gunnison Property is supervised by Stephen Twyerould, Fellow of, President and CEO of Excelsior and a Qualified Person as defined by NI 43 responsible for the technical information contained in this news has verified the data disclosed in this news rel ease, including sampling, analytical and test data underlying the information disclosed in this news release. Mr.
verified that the results were accurate from the official assay certificates provided to
V: MIN ) (Frankfurt: 3XS) is pleased to announce the Gunnison Copper Property located with in the Total Copper % 0.34 0.42
0.38
0.33
0.27 fractured mineralized core With the drilling now ll be met and that we will be able to move the majority of our current copper resource from the inferred to the indicated category .”
Complete assay highlights with drill plan map are p osted on the Excelsior website at: eted with a total of 33,792 holes. Gunnison currently contains a National Inst rument (NI) 43 -101 compliant inferred resource of 4.77 billion pounds of copper (787 million tons at 0.30% copper) which remains n upgraded resource estimate is sections on site in Arizona. Split drill core ine Assayers & Laboratories in Tucson, Arizona for Total Copper and assays are included at regular from the field as part of an ongoing Quality Excelsior’s exploration work on the Gunnison Property is supervised by Stephen Twyerould, Fellow of Qualified Person as defined by NI 43 -101. Mr.
responsible for the technical information contained in this news ease, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Twyerould has verified that the results were accurate from the official assay certificates provided to Excelsior.
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 intende d for near-term production. The Excelsior team consists of experienced professionals with proven t rack records of advancing projects towards production.
Further details about Excelsior can be found at: http://www.excelsiormining.com . Further information about the Gunnison Copper Project can be found in t he technical report filed on SEDAR at www.sedar.com entitled: Gunnison Copper Project, Cochise County, Arizona, USA, Mineral Resource of the North Star and South Star Deposits dated June 2010.
ON BEHALF OF THE EXCELSIOR BOARD
"Stephen Twyerould" President & CEO
T: 604-681-8030
F: 604-681-8039 www.excelsiormining.com
Renmark Financial Communications Inc.
Barry Mire: [email protected]
Lyane Bourassa: [email protected]
Tel.: (514) 939-3989 or (416) 644-2020 www.renmarkfinancial.com
Information set forth in this news release may invo lve forward-looking statements under applicable sec urities laws. Forward-looking statements are statements that relate to future, no t past, events. In this context, forward-looking st atements often address expected future business and financial performance, and ofte n contain words such as "anticipate", "believe", "p lan", "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 limitatio n; statements about the timing for the upgraded resource estimate, expansion of the re source estimate, the potential to use in-situ recov ery methods and the production potential of the Gunnison Copper Project are forward-looking statements. By their nature, f orward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, p erformance or achievements, or other future events, to be materia lly different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such fa ctors include, among others, the following risks: t he need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; ti tle matters; environmental liability claims and insurance; reliance on key personnel; th e potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividen ds; competition; dilution; the volatility of our co mmon share price and volume and the additional risks identified the management disc ussion 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 securitie s regulations. Forwardlooking statements are made based on management's b eliefs, estimates and opinions on the date that sta tements are made and Excelsior undertakes no obligation to update forwar d-looking statements if these beliefs, estimates an d 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 fo r the adequacy or accuracy of this release, and no securities regulatory authority has either approved or disapproved of the contents of this release.