MIN

Excelsior Mining Corp. ("Excelsior" or the "Company") (TSX VENTURE:MIN) is
pleased to announce that Callinan Royalties Corp. ("Callinan") has exercised the
first royalty option under the Share Purchase and Royalty Option Agreement dated
July 19, 2013 (the "Agreement") between the Company and Callinan. As a result of
the exercise of the first royalty option Callinan has paid the Company $3.0
million and in return received a 0.5% gross revenue royalty ("GRR") on the
Gunnison Project. Combined with the initial GRR that Callinan acquired in July
2013, Callinan now holds a 1.0% GRR on the Gunnison Project.


Commenting on the transaction, Chief Executive Officer Stephen Twyerould stated,
"Callinan's exercise of this royalty option is a further endorsement of the
quality of the Gunnison Project and our management team. We look forward to
moving our low-cost in-situ copper project forward with the support of Callinan
Royalties."


With the exercise of the first royalty option, under the terms of the Agreement,
Callinan has the remaining option to invest up to an additional $16.0 million
into Excelsior in exchange for a further 2.0% GRR on the Gunnison Project
consisting of Development Milestones (1.0% GRR) and a Construction Milestone
(1.0% GRR). The remaining Development Milestones include: (1) completion of
hydrology and metallurgy models to feasibility study level and (2) successful
administrative review of the Aquifer Protection Permit and the Underground
Injection Control and Aquifer Exemption Permit. Upon the completion of each
milestone, Callinan will have the option to purchase an additional 0.5% GRR for
$3.0 million each.


The Construction Milestone gives Callinan the right to buy a 1.0% GRR for $10.0
million following completion of the feasibility study, receipt of all required
permits and Excelsior securing a firm commitment for 50% of the required capital
required for mine construction. One quarter (0.25%) of the construction option
will vest with each $3.0 million paid by Callinan to Excelsior pursuant to the
initial investment or upon the exercise of any of the royalty options. Should
all the royalty options be exercised, Callinan would acquire a 3% GRR on the
Gunnison project for total proceeds of $21.0 million.


The exercise price of the construction option may be adjusted if the feasibility
study recommends the construction of a plant with capacity lower than 80 million
pounds of copper per year based on an agreed upon schedule.


About Excelsior

Excelsior is a mineral exploration and development company that is advancing the
Gunnison Copper Project. The Excelsior management team consists of experienced
professionals with proven track records of advancing mining projects into
production. 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, NI 43-101 Technical Report, Prefeasibility Study" dated February
14, 2014.


For more information on Excelsior, please visit our website at
www.excelsiormining.com.


ON BEHALF OF THE EXCELSIOR BOARD

Mark J Morabito, Executive Chairman

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning (i) the
exercise of future royalty options; and (ii) the advancement of the Gunnison
Project.


Such forward-looking information can be identified by the use of word "will".
Forward-looking information contained in this news release is based on certain
factors and assumptions regarding, among other things, the estimation of mineral
resources and mineral reserves, the realization of resource and reserve
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 permitting 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 and reserves, 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 reports and filings with applicable Canadian securities
regulators.


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.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release, and no securities
regulatory authority has either approved or disapproved of the contents of this
release.


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

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