Excelsior Mining Provides Permitting Update
Excelsior Mining Provides Permitting Update
Phoenix, Arizona--(Newsfile Corp. - August 6, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF)
("Excelsior" or the “Company”) confirms that with respect to the Class III Underground Injection Control (“UIC”) Area Permit for
the Gunnison Copper Project, the 30-day appeal period has officially ended. A total of two appeals were filed with the
Environmental Appeals Board; however, one of these appeals was subsequently withdrawn prior to the termination of the appeal
period. The remaining appeal raises no new objections that were not previously addressed as part of the comprehensive permit
review process that was undertaken by the United States Environmental Protection Agency (“EPA”). Excelsior’s view is that this
lone appeal will not be successful, and the Company intends to use all available legal means to have this appeal dismissed as
soon as possible.
Appeals are reviewed by the Environmental Appeals Board. In order to be successful, the petitioner must demonstrate either a
finding of fact or conclusion of law that is clearly erroneous, or an exercise of discretion on an important policy consideration that
the Environmental Appeals Board should, in its discretion, review. The petitioner also must identify where in the record the issue
was raised, or explain why it was not previously raised, and explain why EPA’s response to the comment was clearly erroneous
or otherwise warrants review. Given the thoroughness of the process over the past 30 months, this is a difficult hurdle to meet
and prevail.
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. The project is an advanced staged, low cost, environmentally friendly in-
situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40%
using a US$ 2.75 per pound copper price and a 7.5% discount rate.
Additional information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at
www.sedar.com
entitled: “Gunnison Copper Project, NI 43-101 Technical Report, Feasibility Study” dated effective December
17, 2016.
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:
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
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: (i) the timeline for, and the completion of, the permitting process; (ii) the dismissal of any appeals; (iii) economic benefits
from the Gunnison Project; (iv) the commencement of commercial production from the Gunnison Project; and (v) the ability to
mine the Gunnison Project using in-situ recovery mining techniques.
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 variations 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 to 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 in the estimation of mineral resources, access and supply risks, 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 development process,
regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, 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 obligation to publicly update or revise any forward-looking
information.