Mr. Martin Harvey reports:

EXCEL GOLD MINING INC. ANNOUNCES THE CLOSING OF A PRIVATE PLACEMENT TOTALLING $750,000

MONTREAL, QUEBEC - (November 1st, 2010) - Excel Gold Mining Inc. ("Excel") (TSX VENTURE: EGM) is pleased to announce the closing on today's date of a non-brokered private placement of $750,000, consisting of 150 units issued for a subscription price of $5,000 each, each such unit being comprised of 25,000 common shares to be issued as "flow-through shares" at a price of $0.20 each. The proceeds of such financing will be used towards the exploration programs of Excel in the Montauban mining camp, in the province of Quebec.

In connection with the placement, Excel paid a commission to Allyson Taylor Partners Inc. totalling 10% of the gross proceeds of the financing.

This placement is conditional on various conditions and on the approval of all governing authorities, including the TSX Venture Exchange.

About Excel

Excel is a Canadian based junior exploration company focused on building shareholder wealth through the acquisition and development of strategic assets in mining friendly jurisdictions, particularly in the province of Quebec.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Contact:

Martin Harvey

Director

Excel Gold Mining Inc.

(514) 844-8770 #101