Mr. Stephen Twyerould reports

EXCELSIOR ANNOUNCES $1 MILLION FINANCING

Excelsior Mining Corp. intends to undertake a non-brokered private placement to raise up to a total of $1-million through the issuance of 3,333,333 units of Excelsior at a price of 30 cents per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant shall be exercisable to acquire one common share for a period of 24 months at an exercise price equal to 50 cents.

At any time after four months and one day from the date of the closing of the offering, if the volume-weighted average trading price of the common shares of Excelsior on the TSX Venture Exchange is greater than 70 cents per share for 20 consecutive trading days, Excelsior may give written notice to warrant holders that the warrants will expire 30 calendar days after the date of such notice.

The company intends to use the net proceeds of the offering to continue to advance its Gunnison copper project and for general corporate and working capital purposes.

The offering will be non-brokered; however, Excelsior will pay finders' fees in accordance with the rules and policies of the TSX Venture Exchange. The offering is subject to the approval of the TSX Venture Exchange.

We seek Safe Harbor.