MIN

Excelsior Mining Corp. (TSX VENTURE:MIN)(OTCQX:EXMGF)(FRANKFURT:3XS) 
("Excelsior" or "the Company") announces recovery results for recent
metallurgical test work performed on core samples from its Gunnison Copper
project in Cochise County, Arizona. The tests were completed at the laboratories
of independent consultant, METCON Research, of Tucson, Arizona, under the
direction of Dr. Ronald J. Roman, P.E.


Six leach box tests were completed on whole HQ core (approx. 63.5mm diameter),
representing a range of rock types and varying from low permeability (low
fracture intensity) to high permeability (high fracture intensity). As expected,
the samples with the higher fracture intensity (permeability) gave the higher
copper extractions, averaging approximately 51% total copper extraction.


"We are very pleased with the results from these metallurgical tests," stated
Stephen Twyerould, President and CEO. "They are in line with our PEA and
continue to support our view that this project will one day make a significant
ISR copper producer."


The results of these six leach box tests are summarized in the following table:



Sample #       Rock Type    Permeability    Grade(i)        Days  Extraction
                                         (Total Cu%)     Leached  % Total Cu
----------------------------------------------------------------------------
2           Upper Abrigo             Low        0.65          45          32
----------------------------------------------------------------------------
5           Upper Abrigo            High        0.55          45          49
----------------------------------------------------------------------------
3           Lower Abrigo        Moderate        0.55          45          28
----------------------------------------------------------------------------
4                 Middle                                                    
                  Abrigo            High        0.36          45          52
----------------------------------------------------------------------------
7                 Martin             Low        0.80          45          19
----------------------------------------------------------------------------
8                 Martin            High        1.93          82          54
(i) Calculated head grade                                                   



When factored for the effects of the test procedure, average acid consumption
numbers are in line with the Preliminary Economic Assessment (PEA)(see news
release dated December 1, 2011 for additional details). A further 17
metallurgical tests are currently underway; designed to explore the relative
effects of leach solution acid strength and irrigation flow rate on copper
extraction and acid consumption; results are expected before the end of the
year.


The metallurgical test program is being conducted at METCON Research under the
supervision of Dr. Ronald J. Roman, P.E., of Leach, Inc., Tucson, Arizona, an
independent consultant who is a Qualified Person (QP) as defined by NI43-101.
Dr. Roman has reviewed and approved the technical information disclosed above in
this news release. The QP verified the underlying test data through his
supervision of the program.


Project Summary

The Gunnison Copper Project is located in a remote section of Cochise County in
southeastern Arizona. The focus of the project is the North Star deposit, which
currently has a total Indicated mineral resource of 3.21 billion pounds of oxide
copper (511 M tons at 0.31%) and an Inferred mineral resource of 0.88 billion
pounds of oxide copper (159 M tons at 0.28%). This oxide mineral resource has
the potential to be mined using in-situ recovery methods. Mineral resources that
are not mineral reserves do not have demonstrated economic viability.


About Excelsior

Excelsior is an exploration company with a copper project located within the
Copper Porphyry Belt of Arizona. The Gunnison Copper Project is located close to
the required infrastructure and its oxide resource has the potential to be mined
using in-situ recovery methods. The Excelsior team consists of experienced
professionals with proven track records of advancing projects towards
production.


Excelsior's exploration work on the Gunnison Property is supervised by Dr.
Stephen Twyerould, Fellow of AUSIMM, President and CEO of Excelsior, and a
Qualified Person as defined by NI 43-101. Dr. Twyerould has reviewed and
approved the technical information disclosed in the "Project Summary" and "About
Excelsior" sections of this news release.


Further details about Excelsior can be found at: http://www.excelsiormining.com.
Further information about the Gunnison Copper Project can be found in the
technical report filed on SEDAR at www.sedar.com entitled: "Gunnison Copper
Project Preliminary Economic Assessment, NI 43-101 Technical Report" dated
November 18, 2011.


ON BEHALF OF THE EXCELSIOR BOARD

Stephen Twyerould, President & CEO

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated
developments and events that may occur in the future. Forward looking
information contained in this news release includes, but is not limited to,
statements with respect to: (i) the estimation of inferred and indicated mineral
resources; (ii) success of exploration activities; (iii) production from the
Gunnison Project; (iv) overestimation of acid consumption; (v) copper recovery
rates and (vi) the ability to mine Gunnison using in-situ recovery mining
techniques are forward- looking statements.


In certain cases, forward-looking information can be identified by the use of
words such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. Forward-looking information contained in
this news release is based on certain factors and assumptions regarding, among
other things, the estimation of mineral resources, the realization of resource
estimates, copper and other metal prices, the timing and amount of future
exploration and development expenditures, the estimation of initial and
sustaining capital requirements, the estimation of labour and operating costs,
the availability of necessary financing and materials to continue to explore and
develop the Gunnison Project in the short and long-term, the progress of
exploration and development activities, the receipt of necessary regulatory
approvals, the completion of the environmental assessment process, the
estimation of insurance coverage, and assumptions with respect to currency
fluctuations, environmental risks, title disputes or claims, and other similar
matters. While the Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.


Forward looking information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information. Such
factors include risks inherent in the exploration and development of mineral
deposits, including risks relating to changes in project parameters as plans
continue to be redefined including the possibility that mining operations may
not commence at the Gunnison Project, risks relating to variations in mineral
resources, grade or recovery rates resulting from current exploration and
development activities, risks relating to the ability to access infrastructure,
risks relating to changes in copper and other commodity prices and the worldwide
demand for and supply of copper and related products, risks related to increased
competition in the market for copper and related products and in the mining
industry generally, risks related to current global financial conditions,
uncertainties inherent in the estimation of mineral resources, access and supply
risks, reliance on key personnel, operational risks inherent in the conduct of
mining activities, including the risk of accidents, labour disputes, increases
in capital and operating costs and the risk of delays or increased costs that
might be encountered during the development process, regulatory risks, including
risks relating to the acquisition of the necessary licenses and permits,
financing, capitalization and liquidity risks, including the risk that the
financing necessary to fund the exploration and development activities at the
Gunnison Project may not be available on satisfactory terms, or at all, risks
related to disputes concerning property titles and interest, environmental risks
and the additional risks identified in the "Risk Factors" section of the
Company's Annual Information Form for the most recently completed financial year
or other reports and filings with applicable Canadian securities regulations.


Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on forward-looking
information. The forward-looking information is made as of the date of this news
release. Except as required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any forward-looking
information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Excelsior Mining Corp.
JJ Jennex
Vice President, Corporate Affairs
604-681-8030 x240
info@excelsiormining.com
www.excelsiormining.com

Excelsior Mining Corp. (TSXV:MIN)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Excelsior Mining Corp. (TSXV:MIN)
Historical Stock Chart
Von Jun 2023 bis Jun 2024