Excelsior Mining Provides Update on Current ESG Initiatives

PHOENIX, Nov. 9, 2021 - Excelsior Mining Corp. (TSX: MIN) (OTCQX: EXMGF) (FSE: 3XS) ("Excelsior" or the "Company") announces the details of its ESG (Environmental, Social, Governance) initiatives demonstrating the Company's commitment to these matters. As shown in the table below, copper is a key mineral required across almost all new green energy technologies:

Excelsior's goal is to support the green mining revolution by providing "green copper" that is mined in an environmentally friendly and socially responsible manner. The Company's ESG strategy will reinforce the following goals and initiatives the Company currently holds in high regard:

Environment

• The Gunnison Copper Project is the world's most environmentally friendly base metal mining project.
• In-situ copper mining recycles water. As a result, the project consumes less water, and overall water consumption is negligible compared to other conventional mining operations.
• During operations, the in-situ mine does not generate any significant dust, air, or noise pollution.
• Excelsior's carbon emissions are insignificant compared to most industries.
• Excelsior's mine closure plan for Gunnison combines industry leading sustainability and environmental stewardship. In-situ mining does not permanently scar the natural landscape; once mining operations cease, the land can be repurposed for any use going forward.
• There is no possibility of acid mine drainage or other residual effects often attributed to traditional mining methods.

Social

• Gunnison's environmental attributes are a key reason the project has enjoyed strong community support from inception.
• Excelsior has been engaging with local communities for over a decade, and has made effective employee health & safety protocols, consistent community engagement, and genuine transparency with local stakeholders' key priorities.
• Excelsior participates in community support through its donations of money, people and materials to assist local community groups.
• Excelsior is a member of the Southeast Arizona Economic Development Group (SAEDG) which promotes economic development in the region.
• Excelsior's social and environmental license to operate is further confirmed by an almost unprecedented settlement agreement that was reached with a number of environmental activist groups.

Governance

Excelsior has recently completed a reorganization of its corporate governance structure by completing the following:

• Appointed Fred DuVal as Independent Chair of the Board of Directors. Mr. DuVal is a prominent Arizona businessman and education leader with extensive experience in both the private and public sector at both the state and federal level. Mr. DuVal was the Democratic nominee for Governor of Arizona in 2014 and served as Chairman of the Arizona Board of Regents and on the Arizona Commerce Commission. Mr. DuVal was Chief of Protocol of the United States, Assistant to President Clinton in the White House and responsible for all Governors and state issues.
• Restructured its Compensation Committee, Corporate Governance and Nominating Committee to consist entirely of independent directors.

Chair of the Company, Fred DuVal comments, "I am excited to take on the role of Chair of the Company at a critical time in its development. Excelsior presents a unique opportunity with an environmentally friendly in-situ mine that produces copper to support clean energy technologies. In addition, on behalf of the Board I want to express to Mark our gratitude for his eleven years of service as Chair of this Board. Mark has been a strong leader who brought a vast array of skills to the task - business and legal experience, financial acumen and capital raising - that has enabled Excelsior to evolve from the exploration stage through project development to a producer poised for great success in 2022 and beyond. Mark, we wouldn't be here without you, and we are grateful for your commitment, your leadership and your friendship. Mark will continue as a Board member supporting key initiatives."

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and production company that owns and operates 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. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

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 related to the Gunnison Copper Project and underlying sampling, analytical and test data.

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

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 future development plans for the Gunnison Project and its status as a low cost environmentally friendly in-situ recovery copper extraction project;(ii) future production of copper from the Gunnison Project; and (iii) the details of the Company's ESG initiatives and strategy.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. 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, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, 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 construction and operation 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 be sustained at the Gunnison Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, 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, risks related to current global financial conditions, risks related to current global financial conditions and the impact of COVID-19 on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, 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 construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, 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.

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SOURCE Excelsior Mining Corp.