Excelsior Announces Private Placement of C$26 Million
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NEWS RELEASE
Excelsior Announces Private Placement of C$26 Million
December 11, 2017
Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the “Company”) is
pleased to announce that it intends to undertake a non-brokered private placement to raise up to a total
of C$26 million (approximately US$20.2 million) through the issuance of up to 26 million common shares
of Excelsior (the “Common Shares”) at a price of Cdn$1.00 per Common Share (the “Offering”).
The net proceeds of the Offering will be used for the development, construction and maintenance of the
Company’s Gunnison Copper Project, including the acquisition of long lead items, and for working capital
requirements.
The Offering will be non-brokered; however, Clarksons Platou Securities AS and Tamesis Partners LLP
have been engaged by Excelsior to act as finders in connection with the Offering and will be entitled to
finder’s fees. The Offering is subject to a number of conditions, including, without limitation, the execution
of definitive documentation, receipt of all regulatory approvals, including the approval of the Toronto Stock
Exchange.
The securities being offered hereby have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended and may not be offered or sold in the United States or to, or for the
account or benefit of, U.S. persons absent registration or an applicable exemption from the registration
requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor
will there be any sale of the securities in any State in which such offer, solicitation or sale would be
unlawful.
About Excelsior Mining
Excelsior Mining “ The Copper Solution Company ” is a mineral exploration and development company
that is advancing the Gunnison Copper Project in Cochise County, Arizona.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
"Stephen Twyerould"
President & CEO
For further information regarding this press release, please contact:
2
Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.
JJ Jennex, Vice President, Corporate Affairs
T: 604-681-8030 x240
www.excelsiormining.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward
looking information contained in this news release includes, but is not limited to, statements with respect to: (i) information pertaining to the terms
of the Offering, (ii) the satisfaction of the conditions to the Offering, and (iii) the use of proceeds from the Offering.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variati ons of such words and
phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting
future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance.
Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the
estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, copper and other metal prices, the
timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and
operating costs, the availability of necessary financing and materials to continue to develop and construct the Gunnison Project in the short and
long-term, the progress of development activities, the receipt of necessary regulatory approvals, the completion of the permitting process, the
estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other
similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove
to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results , performance or achievements expressed or implied by the
forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating
to changes in project parameters as plans continue t o be redefined including the possibility that mining operations may not commence at the
Gunnison Project, risks relating to variations in mineral resources and reserves, grade or recovery rates resulting from current exploration and
development activities, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and
the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related
products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent i n the estimation of
mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, i ncluding
the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered
during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and p ermits, financing,
capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison
Project may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks
and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated
or intended. Accordingly, readers should not place undue reliance on forward -looking information. The forward-looking information is made as
of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obliga tion to publicly
update or revise any forward-looking information.