MIN

Excelsior Mining Corp. (TSX VENTURE:MIN)(OTCQX:EXMGF)(FRANKFURT:3XS)
("Excelsior" or "the Company") is pleased to announce results from recent
hydrological tests conducted at the Gunnison Copper Project, located in
southeastern Arizona.


Aquifer testing at well NSH-5 indicated a hydraulic conductivity (K) of
approximately 5 feet per day (ft/day) while aquifer testing at well NSH-4B had a
K value of approximately 0.5 ft/day. These results confirm Excelsior's
hydro-geological model and are higher than the average hydrologic conductivity
of 0.4 ft/day (160 millidarcys) used in the Preliminary Economic Assessment (see
news release dated December 1, 2011).


"We are very pleased with these results as they demonstrate not only our ability
to predict hydrological conditions using our 3D structural model, but also
demonstrate our ability to reproduce earlier results demonstrating the viability
of in-situ recovery methods for our Gunnison Copper Project," says Stephen
Twyerould, President and CEO of Excelsior.


The locations of these two wells were selected in order to validate the
predicted aquifer conditions within highly and moderately fractured zones of the
Gunnison Project's North Star deposit. Hydraulic conductivity is a measure of
the efficiency with which water moves through rock; it is measured in feet per
day and/or millidarcys.


Further results are expected this quarter, including new metallurgical data and
new geological and resource models. All of these data will be used to complete a
Pre-Feasibility study expected later this year.


Hydrology Details

Excelsior's new 3D structural geological model allows for the prediction of
structural domains throughout the deposit, which in turn allow for the
prediction of permeability conditions. From this structural model two sites were
identified to validate the model and generate additional hydrological data for
the up-coming Pre-Feasibility study. The locations were chosen to test medium
and high flow zones representing the bulk of the copper oxide mineralization
within the North Star deposit.


Five day constant rate pump tests were completed on wells NSH-5 and NSH-4B.
These wells were surrounded by 13 observation wells at different radial
locations and distances from the pumping wells. Both drawdown and recovery
phases of the test were monitored in the individual test wells and observation
wells. In addition, extensive geophysical logging, geological logging, assaying,
and water quality sampling were completed for the test wells and various
observation wells.


Well NSH-5 aquifer testing data indicated a hydraulic conductivity value of
about 5 ft/day, measured over an interval from 724 to 1,024 feet below surface.
Well NSH-4B aquifer testing data indicated a hydraulic conductivity value of
about 0.5 ft/day over an interval from 685 to 1,031 feet below surface.


These results are consistent with previous hydrological testing performed at the
North Star Deposit (see news release dated September 6, 2011), and are
consistent with K values from similar ISR projects.


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. Please note, mineral
resources which 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.


Tim Oliver, P.E., Mining Services Manager at Haley & Aldrich, Inc., Tucson, AZ,
reviewed the well construction, test protocol, results and calculations
disclosed in this news release and finds them sound and reasonable. Mr. Oliver
is a Qualified Person (QP) as defined by NI 43-101.


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; and (iv) 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