Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program
NEWS RELEASE
Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program
April 11, 2022
Excelsior Mining Corp. (TSX: MIN) (PFSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the “Company”)
is pleased to announce assay results from the infill drill program on the Johnson Camp mine pits (JCM)
located in Cochise County, southeastern Arizona.
“The infill drill results from the Burro pit are in-line with existing drilling. If anything, mineralization appears
better and shallower at the north end, but thinning at the south end of the existing pit. We look forward
to getting all the results back, completing the geological and resource interpretations and design
optimization, with our goal of restarting of the JCM open pits later this year.” Comments Roland
Goodgame, Senior Vice President Business Development.
The improved results at the north end of the pit, including the high average leaching potential, should
allow the Company to develop a mine plan that targets the high-grade section to maximize cashflows at
the start of operations. Permitting of the new leach pad to restart operations is in progress and the
Company’s goal remains to restart mining operations at JCM later this year.
A total of 31 of the 34 planned holes have been drilled using diamond drill rigs, with 6 holes drilled waiting
on assays. Sequential copper assays for approximately 73% of the entire drill program are complete, with
the average leaching potential exceeding 60% (excludes intervals that contain sulfide mineralization).
Assay highlights are included in Table 1 below. Full assays are included in Table 2.
Table1
Hole ID From (Ft) To (Ft) Interval (Ft) True Thickness (Ft) TCu% Type Avg. Leaching Potential %
EBD-07 2.2 60 57.8 44.3 0.25 O 92%
EBD-07 100 250 150 114.9 0.20 T 41%
EBD-10A 90 340 250 191.5 0.40 T&S 29%
EBD-13 50 210 160 122.6 0.26 T&S 50%
EBD-29 147 280 133 101.9 0.28 T 55%
EBM-04 80 200 120 107.9 0.43 T 40%
EBM-05 6 250 244 200 0.32 O&T 79%
EBM-23 218 520 302 297.5 0.40 O&T 69%
EBM-23 586.5 630 43.5 42.8 0.74 O 92%
EBM-28 148 468 320 309.1 0.38 O&T 55%
EBM-30 6 223 217 166.2 0.30 O 43%
Mineralized Zone: O = Oxide, T = Transition, S = Sulfide.
2
The leaching potential of copper ores is defined as acid soluble copper (AsCu) plus sodium cyanide
soluble copper (CNCu) divided by total copper (TCu).
All samples are prepared from manually split or sawn PQ or HQ core sections on site in Arizona. Split
drill core samples are then sent to Skyline Assayers & Laboratories in Tucson, Arizona for Total Copper
and Sequential Copper analyses. 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. Pulps and sample rejects are stored by Excelsior for future reference.
Table 2
Hole ID From (Ft) To (Ft) Interval (Ft) True Thickness (Ft) TCu% Type Avg. Leaching Potential %
EBD-01 80 110 30 23.0 0.27 O 90%
EBD-02 11.3 30 18.7 14.3 0.19 O 89%
EBD-03 28 60 32 24.5 0.18 O 94%
EBD-03 130 180 50 38.3 0.22 T 55%
EBD-03 210 240 30 23.0 0.35 T 46%
EBD-04 20 60 40 30.6 0.21 O 90%
EBD-04 164 194 30 23.0 0.14 T 43%
EBD-04 214 260 46 35.2 0.25 S 24%
EBD-05 14 58 44 33.7 0.13 O 62%
EBD-05 70 80 10 7.7 0.20 O 87%
EBD-05 100 110 10 7.7 0.15 O 89%
EBD-05 140 170 30 23.0 0.26 T 35%
EBD-06 50 100 50 38.3 0.15 O 87%
EBD-06 167 275 108 82.7 0.28 T 29%
EBD-07 2.2 60 57.8 44.3 0.25 O 92%
EBD-07 100 250 150 114.9 0.20 T 41%
EBD-08 80 90 10 7.7 0.42 O 93%
EBD-08 110 170 60 46.0 0.45 S 16%
EBD-08 200 220 20 15.3 1.25 O 90%
EBD-08 270 280 10 7.7 0.34 S 9%
EBD-10A 90 340 250 191.5 0.40 T&S 29%
EBD-12 97 170 73 55.9 0.39 S 13%
EBD-12 220 340 120 91.9 0.33 S 15%
EBD-13 10 20 10 7.7 0.15 O 79%
EBD-13 50 210 160 122.6 0.26 T&S 50%
EBD-29 110 120 10 7.7 0.17 O 82%
EBD-29 147 280 133 101.9 0.28 T 55%
EBM-04 80 200 120 107.9 0.43 T 40%
EBM-04 230 240 10 9.0 0.17 O 62%
EBM-05 6 250 244 200 0.32 O&T 79%
EBM-23 42 50 8 7.9 0.17 O 45%
EBM-23 60 70 10 9.9 0.11 O 81%
EBM-23 110 140 30 29.6 0.23 O 87%
EBM-23 218 520 302 297.5 0.40 O&T 69%
EBM-23 586.5 630 43.5 42.8 0.74 O 92%
EBM-28 40 66.5 26.5 25.6 0.46 O 80%
3
EBM-28 85.5 126.5 41 39.6 0.29 O 69%
EBM-28 148 468 320 309.1 0.38 O&T 55%
EBM-30 6 223 217 166.2 0.30 O 43%
Mineralized Zone: O = Oxide, T = Transition, S = Sulfide.
About The Johnson Camp mine
The Johnson Camp Mine (“JCM”) has historically been an open pit, heap leach operation since Cyprus
Minerals opened the property in the 1970’s. The operation includes two open pits, a two-stage crushing-
agglomerating circuit, a fully functioning SX-EW plant capable of producing 25 million pounds of cathode
copper per year, a complete set of PLS and raffinate ponds, and full infrastructure (ancillary facilities,
access, power, water, and communications).
QUALIFIED PERSON
Excelsior's exploration work on the Johnson Camp mine is supervised by Stephen Twyerould, Fellow of
AUSIMM, President and CEO of Excelsior and a Qualified Person as defined by NI 43-101. Mr. 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 release, 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 Mining
Excelsior “The Copper Solution Company ” is a mineral exploration and production company that owns
and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost,
environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds
per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and
a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
For further information regarding this press release, please contact:
Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.
Shawn Westcott
T: 604.365.6681
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) the intention to mine Johnson Camp and future production therefrom; (ii) permitting
timelines; and (iii) the development timeline to mine Johnson Camp.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or
"does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans,
4
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,
expectations and anticipated impact of the COVID-19 outbreak, 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 (including the price of acid), the availability of labour, material and acid
supply, receipt of and compliance with necessary regulatory approvals and permits, 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 construction and operation of mineral deposits, including risks relating to changes in project
parameters as plans continue to be redefined including the possibility that mining operations may not be sustained
at the Gunnison Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery
rates, 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, risks related to current global financial conditions, risks
related to current global financial conditions and the impact of COVID-19 on the Company’s business, uncertainties
inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid
supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of
mining activities, including 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 construction or mining process, regulatory
risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and
liquidity risks, risks related to disputes concerning property titles and interests, 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 obligation to
publicly update or revise any forward-looking information.