Excelsior Mining Provides Litigation Update
Excelsior Mining Provides Litigation Update
Phoenix, Arizona--(Newsfile Corp. - September 2, 2022) -
Excelsior Mining Corp. (TSX: MIN) (FSE:
3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company")
announces that the British Columbia
Supreme Court, in
MM Fund v. Excelsior Mining Corp
. 2022 BCSC 1541, a purported class action
brought by MM Fund, has granted the application by Excelsior to strike MM Fund's certification
application and further ordered MM Fund to remove all pleadings relating to advancing a class
proceeding against Excelsior.
Excelsior was awarded its costs of the application in any event of the
cause. MM Fund's action may continue as an individual claim; however, MM Fund has been found to be
incapable advancing the action as a class proceeding.
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 44
th
Street, Phoenix, AZ, 85018.
Shawn Westcott
T: 604.365.6681
E:
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 the Company's mineral property operations
and statements regarding the future status of the MM Fund claim.
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 availability of
financing to implement the Company's operational plans, 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, the assumption the MM Fund does not successfully appeal the
court ruling, 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, risks related to a successful appeal of the court decision by MM Fund, 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/135886