Excelsior Exercises Option and Acquires Gunnison Project

VANCOUVER, BC - Excelsior Mining Corp. has formally exercised the option (the "Option") with the James L. Sullivan Trust, and entities owned by the Trust, to acquire 100% of the mineral interests that comprise the Gunnison Project located in Cochise County, Arizona.

Commenting on this news, Stephen Twyerould, President & CEO said, "The acquisition of the Gunnison mineral rights is a significant milestone for the Company and a successful start to what promises to be an important year in the progression of the Gunnison Copper project. We look forward to advancing this world-class asset into production."

The Option to acquire the Gunnison Project was held under the terms of an Amended Option Agreement with the Trust and entities owned by the Trust. In order to exercise the Option, Excelsior made the final payment of US$50,000 to the Trust that was due under the terms of the Agreement.