EXCELSIOR MINING CORP - EXMGF STOCK NEWS

Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) has signed a letter of intent (LOI) with Cochise College for a local workforce development partnership in Cochise County, Arizona. The partnership aims to support Excelsior's under-construction Johnson Camp Mine (JCM) and future Gunnison Copper project. Key aspects of the collaboration include:

• Designing and administering Excelsior's apprenticeship program
• Developing specialized course content, such as Mine Safety and Health Administration (MHSA) training
• Excelsior's participation in career days and job boards

The partnership is expected to create highly skilled mining jobs and contribute to the local economy. Excelsior has been hiring locally for over a decade and is committed to community engagement, including donations to local organizations and membership in the Southeast Arizona Economic Development Group (SAEDG).

Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) has announced the commencement of construction at the Johnson Camp Mine (JCM) in southeast Arizona, with first copper production expected in H1 2025. This follows Nuton 's decision to proceed to Stage 2 of restarting JCM using Nuton™ copper heap leaching technologies. Key developments include:

1. M3 Engineering awarded the EPCM contract
2. Earthworks for new leach pad construction started
3. Rango Inc. awarded leach pad construction and overliner crushing contract
4. Nuton provided $7.9 million funding through August 2024

The project represents Nuton's first demonstration of their advanced copper leaching technology, marking a significant milestone in Excelsior's partnership with Nuton.

Excelsior Mining (TSX: MIN) (OTCQB: EXMGF) has appointed Craig Hallworth as Chief Financial Officer, effective September 3, 2024. Hallworth, currently CFO of Hudbay Minerals' Arizona Business Unit, brings 13 years of finance leadership experience, including his recent role in developing the Copper World Project. He replaces Danny Heatherson, who served as Interim CFO and will continue as Corporate Controller.

Hallworth's appointment comes at a important time for Excelsior, as the company progresses towards commercial production at Johnson Camp and evaluates opportunities at the Gunnison Project. His expertise in mega-projects and financial optimization is expected to be valuable for Excelsior's plans.

Excelsior Mining Corp. (TSX: MIN, FSE: 3XS, OTCQX: EXMGF) announced the results of its 2024 Annual General and Special Meeting held on June 20, 2024, in Vancouver, B.C. All nominees listed in the management information circular were elected as directors. The directors elected include Stephen Twyerould, Colin Kinley, Fred DuVal, Michael Haworth, and Stephen Axcell, with over 98% of votes in favor. Shareholders also approved setting the number of directors at five, reappointing PricewaterhouseCoopers LLP as auditors, and approving the conversion of debt to shares for Greenstone Resources L.P.

Excelsior Mining has received a US$5 million payment from Nuton, a Rio Tinto venture, as part of their Option Agreement for the Johnson Camp mine in Arizona. This payment marks Nuton's decision to proceed to Stage 2, where it will fund Excelsior's costs for evaluating Nuton's copper heap leaching technologies over a five-year program. The project includes milestones in engineering, construction, mining, and copper production. Mining is set to begin in the first year, with initial copper production expected in 2025. Revenue from operations will first cover Nuton's Stage 2 costs before benefiting Excelsior. A live video webinar discussing this Agreement is scheduled for June 4, 2024.

Excelsior Mining has announced that Nuton, a Rio Tinto venture, will proceed to Stage 2 of their Option Agreement. This stage involves evaluating Nuton's copper heap leaching technologies at Excelsior's Johnson Camp mine in Arizona.

Nuton will make a $5 million payment to Excelsior and fund all associated costs for Stage 2, which could last up to five years. The goal is to demonstrate Nuton's technologies at an industrial scale, with mining expected to start in the first year and the first copper production in 2025.

If successful, full-scale commercial production of Nuton copper will follow. Revenue will initially be used to repay Stage 2 costs, after which profits will go to Excelsior. After Stage 2, Nuton may form a joint venture with a 49% interest in Johnson Camp, while Excelsior will hold a 51% stake.

The partnership aims to maximize copper recovery and offer significant environmental benefits over traditional methods.

Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQB: EXMGF) closed a $5.5 million financing with Greenstone Excelsior Holdings LP and Triple Flag USA Royalties Ltd. The financing is a condition subsequent to the extension of the maturity date of its existing $15 million credit facility with Nebari Natural Resources Credit Fund I LP. The company issued a total of 27,180,000 Common Shares at a price of $0.11405 per Common Share for aggregate gross proceeds of $3.1 million. The terms of the Debentures are set out in the Company's press release dated November 30, 2023. Greenstone's participation in the Share Offering and Debenture Offering constitutes a 'related party transaction' as Greenstone is a related party of the Company. The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101.

Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQB: EXMGF) has extended the maturity date of its $15 million credit facility to June 30, 2026, and secured a $5.5 million financing with Greenstone and Triple Flag. The extension and funding will allow the company to advance the Nuton Option on the Johnson Camp Mine and complete the well stimulation program.

Excelsior Mining Corp. provides an update on the mining camp encompassed by the Gunnison Copper Project, the Johnson Camp Copper Mine, and Strong and Harris in Arizona.