Excelsior Mining Provides Update on Johnson Camp Mine Construction in SE Arizona
NEWS RELEASE
Excelsior Mining Provides Update on Johnson Camp Mine Construction in SE Arizona
August 8th, 2024
Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) ("Excelsior" or the “Company”)
is pleased to announce that construction has commenced at the Johnson Camp Mine ("JCM"), in
southeast Arizona, with first copper production anticipated in H1 of 2025.
Following the decision by Nuton LLC ("Nuton"), a Rio Tinto venture to proceed to Stage 2 of a process
to restart the JCM mine using Nuton™ copper heap leaching technologies (see Excelsior press release
dated May 15th, 2024), Excelsior has completed the bulk of the planning & engineering and has mobilized
crews to start construction. M3 Engineering based in Tucson has been awarded the EPCM contract.
Earthworks related to the construction of the new leach pad has commenced, including crushing of the
over-liner material. Rango Inc. from Mesa was awarded the leach pad construction and overliner
crushing contract and is ramping up efforts to achieve the Excelsior milestones.
To facilitate the start of these activities and Stage 2, Nuton recently provided funding of $7.9 million
through August 2024. Additional funding and activities will be announced as they progress.
“The commencement of leach pad construction marks a key milestone in Excelsior’s partnership with
Nuton. The M3 and Rango team we have assembled is world class and committed to delivering a safe
and timely project. The opportunity to build and operate Nuton’s first demonstration of their state-of-the-
art copper leaching technology is a privilege Excelsior and our team is proud to deliver”, comments Robert
Winton, SVP Operations and General Manager of JCM.
During construction, progress along with an image gallery will be posted on the company website at
www.excelsiormining.com.
ABOUT NUTON
Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton
is a portfolio of proprietary copper leaching related technologies and capability – a product of almost 30
years of research and development. Nuton offers the potential to economically unlock copper from
primary sulfide resources through leaching, achieving market-leading recovery rates and contributing to
an increase in copper production at new and ongoing operations-. One of the key differentiators of Nuton
is the ambition to produce the world’s lowest footprint copper while having at least one Positive Impact
at each of our deployment sites, across our five pillars: water, energy, land, materials and society.
ABOUT THE JOHNSON CAMP MINE
The Johnson Camp Mine is a past producing open pit, heap leach operation. The operation includes two
open pits, 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).
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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,
which with Nuton LLC, a Rio Tinto Venture is in Stage 2 of a process to restart the mine using Nuton
technologies, with first copper expected to be produced in 2025. Excelsior additionally owns 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 potential of well stimulation to improve performance of the Company’s mineral
projects; (ii) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production
therefrom; (iii) the details and expected results of the stage two work program; and (iv) future production and
production capacity from the Company’s mineral projects.
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
amended permit will not be appealed, work plans will be approved in a timely manner, the availability of financing
to continue as a going concern and 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, 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
related to the Company not obtaining adequate financing to continue operations, the breach of debt convenants,
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 related to the delay in approval of work plans, variations in mineral resources
and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes
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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 any resurgence 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.