05:18:12 EDT Thu 28 Mar 2024
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Excelsior Mining Corp (2)
Symbol MIN
Shares Issued 277,204,365
Close 2023-05-31 C$ 0.24
Market Cap C$ 66,529,048
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Excelsior's amended Gunnison permit takes effect

2023-06-01 13:07 ET - News Release

Mr. Shawn Westcott reports

EXCELSIOR MINING ANNOUNCES THE PERMIT AMENDMENT FOR WELL STIMULATION AT THE GUNNISON COPPER MINE IS NOW EFFECTIVE

Excelsior Mining Corp.'s amendment to the Class III underground injection control (UIC) area permit, that allows for well stimulation to occur at the Gunnison copper project, located in Cochise county, southeastern Arizona, is now effective as of May 26, 2023.

The amended permit was originally issued on April 21, 2023, but was not effective until the expiry of the appeal period. The appeal period has ended without an appeal being filed and as a result the amended permit is now in effect.

Well stimulation has the potential to fundamentally change the performance of the well field, and eliminate or reduce the need for the raffinate neutralization plant. Excelsior intends to proceed to field trials in early H2 of 2023. Excelsior will submit the well stimulation work plans required by the permit and schedule the necessary contractors in the near term.

About Excelsior Mining Corp.

Excelsior, the copper solution company, is a mineral exploration and production company that owns and operates the Gunnison copper project in Cochise county, Arizona. The project is a low-cost, environmentally friendly in situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past-producing Johnson Camp mine and a portfolio of exploration projects, including the Peabody sill and the Strong and Harris deposits.

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