Excelsior Mining Mobilizes for Drilling of the Johnson Camp Mine and the Strong & Harris and Peabody Sill Deposits, Arizona
NEWS RELEASE
Excelsior Mining Mobilizes for Drilling of the Johnson Camp Mine and the Strong &
Harris and Peabody Sill Deposits, Arizona
January 11th, 2022
Excelsior Mining Corp. (TSX: MIN) (OTCQX: EXMGF) (FSE: 3XS) ("Excelsior" or the “Company”)
announces that 2 diamond drills have been mobilized to the Johnson Camp Mine (“JCM”), for infill drilling
of the Burro and Copper Chief open pits, as well as drilling of the geophysical anomalies at the Strong &
Harris and Peabody Sill deposits (“S&H”).
Godbe Drilling LLC. (“Godbe”) from Colorado has been retained to drill 11,000 feet (3,250 meters) infill
and metallurgical drilling targeting the Burro and Copper Chief deposits at JCM. The purpose of this
drilling is to support the planned restart of copper mining at JCM.
“We are moving quickly on key items related to the JCM restart, which, once operational, will provide
cash flow while the raffinate neutralization plant is being designed and built for our flagship asset, the
Gunnison Copper Mine.” Comments Stephen Twyerould, President and CEO of Excelsior Mining.
Godbe will also conduct 10,000 feet (3,050 meters) of infill and metallurgical drilling for S&H, as well as
4,000 feet (1,220 meters) in exploration drilling. Exploration drilling will evaluate a magnetic anomaly
similar in size and intensity as the nearby S&H deposit. This anomaly is closer to the center of the JCM
mineralized system than S&H and as such is a high priority target. The exploration drilling will also target
an IP (Induced Polarization) anomaly along strike of known mineralization in the Peabody sill. See image.
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The plan is to first drill the JCM deposit infill and metallurgical holes. These holes will be completed before
the end of Q1, 2022. The drill rigs will then be moved to Strong & Harris and Peabody Sill for exploration
drilling and finally for the infill and metallurgical drilling there. All drilling is expected to be completed
before the end of Q2, 2022.
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 Strong & Harris and Peabody Sill deposit.
Excelsior’s technical work on the Gunnison Copper Project and Johnson Camp Mine is supervised by
Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined
by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information
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contained in this news release related to the Gunnison Copper Project and Johnson Camp mine, and
underlying sampling, analytical and test data.
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 future development plans for the Gunnison Project and its status as a low cost
environmentally friendly in-situ recovery copper extraction project;(ii) future production of copper from the Gunnison
Project and Johnson Camp Mine and the associated cashflow from some operations; (iii) the details of the drill
program including targets, timing and number of feet of drilling.
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,
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 or Johnson Camp Mine, 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.
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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.