Excelsior Announces Officer Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 2, 2014) - Excelsior Mining Corp. (TSX VENTURE:MIN)(FRANKFURT:3XS)(OTCQX:EXMGF) ("Excelsior" or the "Company") is pleased to announce the appointment of Rebecca Sawyer to the position of VP Sustainability and Mr. Carlo Valente as Chief Financial Officer.

Ms. Sawyer comes to Excelsior after a distinguished career as a highly accomplished environmental professional within the mining industry. Ms. Sawyer has held senior environmental engineering and manager positions with Freeport-McMoRan Inc., Simplot and Newmont Mining. She is a graduate of the University of Nevada and a resident of Bisbee, Arizona.

With her extensive experience in groundwater remediation, environmental planning, policy development, and regulatory compliance, Ms. Sawyer will lead Excelsior's preparation of environmental permit applications for air and groundwater as required by the federal, state and local regulatory and governmental agencies.

Commenting on Ms. Sawyer's appointment, Stephen Twyerould, President & CEO said, "The permitting process is entirely dependent upon the competence, experience, and professionalism of those coordinating the applications to the various regulatory agencies. We are enthused to have the full breadth of Rebecca Sawyer's extensive experience, which will serve Excelsior well as we work to successfully navigate the permitting process."

Excelsior has granted Ms. Sawyer, under the terms of its stock option plan, options to purchase up to 250,000 common shares at a price of $0.25 per share. The options are subject to vesting over a two year period and have an expiry date of December 1, 2019.

Additionally, the Company is pleased to announce the appointment of Carlo Valente as Chief Financial Officer, effective immediately. Mr. Valente currently leads the multi-disciplined Business Development team at King & Bay West ("KBW") and is the CFO of two junior mining companies under KBW's management. He was previously a Managing Director in the Deals group of PricewaterhouseCoopers (PwC). Mr. Valente is a Chartered Accountant and has over 17 years of international business development, corporate advisory, M&A and accounting and finance experience. He has worked on numerous significant transactions for both private equity and corporate clients in both Europe and North America. In 1997, Mr. Valente joined PwC's audit practice, where he mainly serviced natural resources and technology based companies.

Ms. Sonya Atwal has resigned as Chief Financial Officer and the board of directors of Excelsior wishes to thank Ms. Atwal for her invaluable contributions during her tenure with Excelsior.

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 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 success of the permitting process; 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.