Excelsior Mining Successfully Concludes Permitting Process in Cochise County

Excelsior Mining Successfully Concludes Permitting Process

Phoenix, Arizona – Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) announced that the Class III Underground Injection Control Area Permit for the Gunnison Copper Project  is now active and good for production of up to 125 million pounds of pure copper cathode per annum. All required state and federal operating permits have now been successfully obtained.

Stephen Twyerould, President & CEO, said, “I’m extremely proud of our team that have worked so diligently with regulatory agencies, community and stakeholders to deliver this significant milestone. It represents a tremendous value-creation step as we continue moving towards production in what will be one of the most environmentally friendly and cost-effective copper projects in North America.”

The Chairman of Excelsior Mining, Mark Morabito, added, “With the appeal process officially exhausted, we now have a fully permitted project that is genuinely on the cusp of achieving low cost copper production through the most environmentally friendly process available within the industry today. I congratulate the entire Excelsior team on achieving this positive outcome, and I look forward to seeing Excelsior unlock the true value of this tremendous asset.”

To recap Excelsior’s permitting process, in September, 2017, the Arizona Department of Environmental Quality  issued an Aquifer Protection Permit for Gunnison Copper Project; this completed the Arizona State permitting process. On June 22, 2018 the Environmental Protection Agency  issued Excelsior the UIC Permit with an effective date of August 1, 2018. An appeal  of the UIC Permit was subsequently filed by a coalition of non-governmental organizations. See RED NEWS Excelsior Gets First Permit for a Coper Mine in Arizona in over a Decade.

All appeals are reviewed by the Environmental Appeals Board. Excelsior announced on October 5, 2018 that a Settlement Agreement had been concluded that would result in the dismissal of the Appeal. As per the terms of the Agreement, Excelsior, the EPA, and the Petitioners submitted to the EAB a joint motion to dismiss the Appeal. The EAB has now accepted the joint motion dismissing the Appeal, and the EPA has lifted the stay, thereby resulting in the UIC Permit becoming effective. The permitting process is now completed with all key operating permits in place and effective.

Excelsior will be ready to commence construction upon the completion of its project financing plan. The Gunnison Copper Project remains on-track to be the next new copper producer in the United States, with initial production scheduled for 2019.

Additional 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, Feasibility Study” dated effective December 17, 2016.

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