Phoenix, Arizona--(Newsfile Corp. - December 23, 2019) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") confirms that approval to commence mining operations through the injection of acid has been received from the Environmental Protection Agency. Delivery of mining fluids to the copper orebody is scheduled to begin before year-end at the Gunnison Copper Project in southern Arizona. First copper cathode sales are expected in Q1, 2020.
Throughout the mine build out, Excelsior has maintained a focussed approach to Environmental, Social, and Governance ("ESG") factors. Excelsior consistently seeks to minimize any impact on the environment while prioritizing safety, and this extends to all of the Company's vendors and consultants. Excelsior remains committed to environmental stewardship, ethical business practices and regulatory compliance. Through these and other ESG practices, Excelsior is positioned to deliver the robust economics of the Gunnison Copper Project in a safe and environmentally sustainable manner.
About Excelsior Mining
Excelsior "The Copper Solution Company" is a mineral exploration and development company that owns the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.
Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.
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.
For further information regarding this press release, please contact:
Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.
JJ Jennex, Vice President, Corporate Affairs
T: 604 723 1433
E: info@excelsiormining.com
www.excelsiormining.com