Mr. Stephen Twyerould reports

EXCELSIOR ANNOUNCES PRIVATE PLACEMENT OF C$26 MILLION

Excelsior Mining Corp. intends to undertake a non-brokered private placement to raise up to a total of $26-million (Canadian) (approximately $20.2-million (U.S.)) through the issuance of up to 26 million common shares of Excelsior at a price of $1 (Canadian) per common share.

The net proceeds of the offering will be used for the development, construction and maintenance of the company's Gunnison copper project, including the acquisition of long lead items, and for working capital requirements.

The offering will be non-brokered; however, Clarksons Platou Securities AS and Tamesis Partners LLP have been engaged by Excelsior to act as finders in connection with the offering and will be entitled to finders' fees. The offering is subject to a number of conditions, including, without limitation, the execution of definitive documentation, receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange.

About Excelsior Mining Corp.

Excelsior Mining -- the copper solution company -- is a mineral exploration and development company that is advancing the Gunnison copper project in Cochise county, Arizona.

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