Excelsior Provides Pre-Production Progress Report
NEWS RELEASE
Excelsior Provides Pre-Production Progress Report
November 13, 2018
Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("E xcelsior" or the “Company”)
is pleased to provide an update on pre-production preparations at the fully-permitted Gunnison Copper
Project in southeast Arizona. Ramp-up activities at the Johnson Camp Mine (JCM) have been running in
parallel with the permitting process as the Company seeks to en sure an efficient transition into the
pending construction and production phases. Excelsior is now po ised to be a major long-term employer
within Cochise County for the next quarter century.
The number of employees at JCM now totals 31 individuals, as th e Company fills essential positions
related to production. Key management personnel are in place an d essential employees required to
operate the production facility at JCM are being hired at a rap id pace. The JCM offices have been fully
refurbished in anticipation of start-up. In addition, the drilling contract for the well field is in place and the
contractor is awaiting instructions to mobilize the drilling ri gs. Long lead items have been ordered and
drill casing is currently on site and awaiting the arrival of t he first drill rig. Additionally, early equipment
and vehicles have been purchased.
Both basic and detailed engineering are complete. The Project E xecution Plan and Construction Plans
are also complete. A general contractor has been selected and a ll other major contracts have now been
concluded. Key corporate systems, such as safety and environment, are now in place and implemented.
All other corporate systems, such as the Enterprise Resource Planning (ERP) are nearing the completion
of the implementation process.
On the personnel side, one of the key hires is Cregg Bossard br ought aboard as the senior project
manager responsible for mine construction. Mr. Bossard has more than 42 years’ experience in the
mining, environmental remediation, and construction industries. He has worked in operations, research
and development, technical sales, engineering, and construction across the entire spectrum of the mining
operations. Mr. Bossard was most recently with Fluor Enterprise s, where as a project director and area
manager, he was responsible for engineering, procurement and co nstruction, systemization and
commissioning activities in several mining projects worldwide, including the US$ 1.7 billion Ras Al-Khair
Area for the Wa’ad Al-Shamal Phosphate EPC Project.
Commenting on these pre-production activities, Excelsior’s Chie f Operating Officer, Roland Goodgame
said, “We want to assure all stakeholders that we will be ready to move into production next year as per
our schedule. During the permitting process, we have been ramping up activity at JCM so that we will be
in a position to move seamlessly into the construction and production phases.”
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
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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.
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 information contained in this news release.
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.
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: 604 723 1433
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) economic benefits from the Gunnison Project; (ii) the completion of start-up activities
for construction, commencement and completion of construction and the start commencement of commercial
production from the Gunnison Project; (iii) the results of the Feasibility Study, including operating and capital cost
estimates and the economic benefits from the Gunnison Copper Project; and (iv) the ability to mine the Gunnison
Project using in-situ recovery mining techniques.
In certain cases, forward-looking information can be identif ied 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 "w ill 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 real ization 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 dev elop and construct the Gunnison Project in the short and
long-term, the progress of development activities, the receip t of necessary regulatory approvals, 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 de posits, 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
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to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related
products, risks related to increased co mpetition in the market for copper and related products and in the mining
industry generally, risks related to current global financia l 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 encount ered during the development process, regulatory risks,
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, environment al 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-lo oking information, there may be other factors that cause
actions, events or results not to be as anticipated, esti mated or intended. Accordingl y, 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.