Mr. Fred DuVal reports

EXCELSIOR MINING PROVIDES UPDATE ON CURRENT ESG INITIATIVES

Excelsior Mining Corp. has released details of its ESG (environmental, social and governance) initiatives demonstrating the company's commitment to these matters. Copper is a key mineral required across almost all new green-energy technologies.

Excelsior's goal is to support the green mining revolution by providing green copper that is mined in an environmentally friendly and socially responsible manner. The company's ESG strategy will reinforce goals and initiatives the company currently holds in high regard.

Environment:

• The Gunnison copper project is the world's most environmentally friendly base metal mining project.
• In situ copper mining recycles water. As a result, the project consumes less water, and overall water consumption is negligible compared with other conventional mining operations.
• During operations, the in situ mine does not generate any significant dust, air or noise pollution.
• Excelsior's carbon emissions are insignificant compared with most industries.
• Excelsior's mine closure plan for Gunnison combines industry-leading sustainability and environmental stewardship. In situ mining does not permanently scar the natural landscape; once mining operations cease, the land can be repurposed for any use going forward.
• There is no possibility of acid mine drainage or other residual effects often attributed to traditional mining methods.

Social:

• Gunnison's environmental attributes are a key reason the project has enjoyed strong community support from inception.
• Excelsior has been engaging with local communities for over a decade and has made effective employee health/safety protocols, consistent community engagement and genuine transparency with local stakeholders' key priorities.
• Excelsior participates in community support through its donations of money, people and materials to assist local community groups.
• Excelsior is a member of the Southeast Arizona Economic Development Group (SAEDG), which promotes economic development in the region.
• Excelsior's social and environmental licence to operate is further confirmed by an almost-unprecedented settlement agreement that was reached with a number of environmental activist groups.

Governance

Excelsior has completed a reorganization of its corporate governance structure by completing the following:

• Appointed Fred DuVal as independent chair of the board of directors. Mr. DuVal is a prominent Arizona businessman and education leader with extensive experience in both the private and public sectors at both the state and federal level. Mr. DuVal was the Democratic nominee for Governor of Arizona in 2014 and served as chairman of the Arizona Board of Regents and on the Arizona Commerce Commission. Mr. DuVal was Chief of Protocol of the United States, assistant to President Bill Clinton in the White House, and responsible for all governors and state issues.
• Restructured its compensation committee and corporate governance/nominating committee to consist entirely of independent directors.

Chair Fred DuVal commented: "I am excited to take on the role of chair of the company at a critical time in its development. Excelsior presents a unique opportunity with an environmentally friendly in situ mine that produces copper to support clean-energy technologies. In addition, on behalf of the board, I want to express to Mark our gratitude for his 11 years of service as chair of this board. Mark has been a strong leader who brought a vast array of skills to the task -- business and legal experience, financial acumen and capital raising -- that has enabled Excelsior to evolve from the exploration stage through project development to a producer poised for great success in 2022 and beyond. Mark, we wouldn't be here without you, and we are grateful for your commitment, your leadership and your friendship. Mark will continue as a board member supporting key initiatives."

About Excelsior Mining Corp.

Excelsior 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.

Excelsior's technical work on the Gunnison copper project is supervised by Stephen Twyerould, FAusIMM, president and chief executive officer of Excelsior, a qualified person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release related to the Gunnison copper project and underlying sampling, analytical and test data.

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