Excelsior Mining Welcomes Stephen Axcell to the Board of Directors
NEWS RELEASE
Excelsior Mining Welcomes Stephen Axcell to the Board of Directors
August 21, 2018
Excelsior Mining Corp. (TSX: MIN) (OTCQX: EXMGF) (Frankfurt: 3X S) ("Excelsior" or the
“Company”) is pleased to announce that Mr. Stephen Axcell has joined the Board of Directors. The
new appointment is in keeping with Excelsior’s continuing effor t to add additional team members with
production experience as the Gunnison Copper Project targets co mmercial production in 2019. Mr.
Axcell will also join the Company’s Project Steering Committee.
Mr. Axcell is an executive leader with 38 years of experience w ith strengths in mining operations
management and project management execution, including process plant design and construction
management; with industry expertise in mining and minerals, pharmaceutical, and hydrocarbon projects.
He has vast experience in international design and construction projects. Experience includes
management and oversight of large and small projects, complex p rocess facilities in both green-fields
and retro-fit (brown fields) environments.
Mr. Axcell is currently an Independent Consultant providing ser vices to the Mining Industry and large
capital projects with an emphasis on achieving project delivery excellence. He was until recently a
Senior Vice President for Jacobs Engineering Group. At Jacobs h is role included operational
responsibilities for the Americas Mining and Minerals group and latterly the Asia Pacific region. The role
included resourcing all projects, striving for ‘flawless’ project execution and growing the business. Prior
to rejoining Jacobs, Stephen worked for the largest diamond min ing company in the world by value,
initially charged with managing and executing a large multi-bil lion-dollar capital project portfolio and
subsequently as Deputy Managing Director responsible for all th e technical functions within the
company. Mr. Axcell holds a BSc (Eng) Minerals Processing from the University of the Witwatersrand,
South Africa.
Mark J. Morabito, Chair of the Board of the Company states “I a m pleased to welcome Steve Axcell to
the Board of Excelsior. His vast array of experience in project management, process plant design, and
construction management will bring valuable input to the team and we look forward to his contributions
as our world class management team drives the Company forward to production targeted for 2019.”
About Excelsior
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 f riendly in-situ recovery cop per extraction project. The Feasibility
Study projected an after-tax NPV of US$807 million and an IRR o f 40% using a US$2.75 per pound
copper price and a 7.5% discount rate.
Excelsior’s technical work on the Gunnison Copper Project 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 i nformation contained in this news
release.
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Further information about the Gunnison Copper Project can be fo und in the technical report filed on
SEDAR at www.sedar.com entitled: “Gunnison Copper Project, NI 4 3-101 Technical Report,
Prefeasibility Study Update” dated effective January 28, 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.
JJ Jennex, Vice President, Corporate Affairs
T: 604-681-8030 x240
www.excelsiormining.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "for ward-looking information" conc erning anticipated developments and events that may occur in the f uture.
Forward looking information contained in this news release incl udes, but is not limited to, statements with respect to: (i) the timeline for
commercial production from the Gunnison Project; (ii) the results of the Feasibility Study; and (iii) 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, ev ents or results "may", "could", "would", "might" or "will be taken", "occur" or "be ac hieved" suggesting
future outcomes, or other expectations, be liefs, plans, objectives, assumptions, intentions or statements about future events o r performance.
Forward-looking information contained in th is news release is based on certain factor s and assumptions regarding, among other t hings, the
estimation of mineral resources and mineral reserves, the realizat ion of resource and reserve estimates, copper and other metal prices, the
timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirem ents, the
estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Gunnison
Project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the
completion of the permitting process (including the resolution of any filed appeals), the estimation of insurance coverage, and assumptions
with respect to currency fluctuations, env ironmental risks, title disputes or claims, and other similar matters. While the Comp any considers
these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves know n and unknown risks, uncertainties and other fa ctors which may cause the actual result s,
performance or achievements of the Company to be materially different from any future results, performance or achievements expr essed 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 paramet ers as plans continue to be redefined in cluding the possibility that mining operati ons 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 activi ties, risks relating to the ability to access in frastructure, risks relating to changes in co pper 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 indus try generally, risks related to current global financial conditio ns, 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 o f the necessary
licenses and permits, financing, c apitalization and liquidity risks, including the risk that the financing necessary to fund th e 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 t hat could cause actual actions, events or results to differ m aterially from
those described in forward-looking information, there may be other factors that cause actions, even ts or results not to be as a nticipated,
estimated or intended. Accordingly, readers should not place undue reliance on forward-l ooking 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.