Mr. Stephen Twyerould reports

EXCELSIOR MINING COMPLETES COPPER CATHODE OFFTAKE AGREEMENT

Excelsior Mining Corp. has entered into a purchase and sale agreement with Trafigura Trading LLC for 100 per cent of copper cathode production during 2020 from the Gunnison copper project in southern Arizona. The offtake agreement has been concluded on commercially competitive terms. The company is forecasting first copper production in Q2 of this year.

Trafigura Group Pte. Ltd. is a market leader in the global commodities industry and one of the largest and most active trading houses in the United States. Trafigura's core business is the physical trading of oil and petroleum products and metals and minerals, and their transportation across the globe. The company's assets and investments complement and enhance these activities. Headquartered in Singapore, Trafigura's 8,000 employees operate from 80 offices across 41 countries.

About Excelsior Mining Corp.

Excelsior, the copper solution company, is a mineral exploration and production company that owns the Gunnison copper project in Cochise county, Arizona.

Excelsior's technical work on the Gunnison copper project is supervised by Stephen 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.

Additional information about the Gunnison copper project can be found in the technical report filed on SEDAR entitled: "Gunnison Copper Project, NI 43-101 Technical Report, Feasibility Study" dated effective Dec. 17, 2016.

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