Mr. Stephen Twyerould reports

EXCELSIOR PROVIDES CORPORATE UPDATE

Carlo Valente, the former chief financial officer of Excelsior Mining Corp., has assumed the role of interim chief financial officer following the departure of Mark Distler, who has left the company to pursue other opportunities. Excelsior has hired international recruitment firm Korn Ferry to help secure a new chief financial officer with the required production related experience as Excelsior completes the transition from development company to copper producer. This recruitment process is advanced and is expected to be completed shortly.

Mr. Valente served previously as Excelsior's chief financial officer from 2014 to 2016, during which time the company purchased and integrated the neighbouring Johnson Camp mine. His previous experience with Excelsior Mining ensures continuity as the company completes the final stage of the permitting process. Mr. Valente has over two decades of international business development, corporate advisory, merger and acquisition, corporate finance, and accounting experience. Mr. Valente has a bachelor of business administration from Simon Fraser University and he obtained his CA designation in 2000.

Excelsior remains on track to become the next new copper producer in the United States. The Environmental Protection Agency is expected to grant an Underground Injection Control permit prior to the end of the second quarter; this is the last permit required prior to the commencement of production.

The company thanks Mr. Distler for his contributions during his tenure as chief financial officer and wishes him well as he pursues other interests.

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. The project is an advanced-stage, low-cost, environmentally friendly in-situ-recovery copper extraction project. The feasibility study projected an after-tax net present value of $807-million (U.S.) and an internal rate of return of 40 per cent using a $2.75 (U.S.) per pound copper price and a 7.5-per-cent discount rate.

Excelsior's technical work on the Gunnison copper project is supervised by Mr. Twyerould, fellow of AUSIMM, president and chief executive officer 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.

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