Excelsior Mining Completes Hydrology Drill Program Assay Results

PHOENIX, AZ - Excelsior Mining Corp. reported the completion of the hydrology drill program at the Gunnison Copper Project in Arizona. Excelsior is also releasing the diamond drill assay results from the feasibility resource upgrade program.

The hydrological drill program announced on October 28, 2014 has now concluded. The primary component of the hydrological program comprised 26 hydrology test and observation wells totaling approximately 28,000 feet. Extensive geophysical logging was completed on all holes. Pump testing has begun and will continue over the next several months. The objective of the program is to characterize the hydrological parameters of the mineralized rocks by measuring groundwater movement through the rocks. Results will be used to construct a numerical groundwater flow model to simulate in-situ recovery operations and to assist with permit applications. Additional long-term aquifer testing will also be conducted on previously constructed wells. Data interpretation and modeling is expected to be completed in Q2 2015.

Commenting on these results, President & CEO, Stephen Twyerould stated, The completion of the hydrology drill program represents another key feasibility milestone completed on time and on budget. The remaining key feasibility work programs are on schedule, with additional data sets due in early Q3. Given our good performance to date, it is exciting to see our Gunnison Copper Project progress in such a rapid and efficient manner.

Assay results for the geological drilling program consisting of 13 diamond drill holes, totaling 17,110 feet, have now been returned. The program was designed to investigate the marginal extremities of the North Star deposit and collect additional geological information. Results are consistent with expectations and previous drill holes in the area. A new resource calculation will be incorporated into the feasibility study currently being prepared, together with additional data from the comprehensive metallurgical and hydrology programs. Total copper grades should be considered in the context of the proposed mining method. Excelsior intends to mine the Gunnison Copper Project using in-situ recovery, whereby a weak acid solution dissolves copper minerals from the surfaces of naturally occurring fractures. The host rocks remain substantially undisturbed; however, the host rocks must be included in the calculation when determining total copper grades for the purpose of establishing a mineral resource that is prepared in accordance with National Instrument 43-(101).