ELE Elemental Altus Royalties Corp

Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Corporation")
has been asked by the TSX Venture Exchange (the "TSXV") to announce that on
April 20, 2010, the TSXV granted conditional approval to the private placement
announced on April 16, 2010 subject to certain conditions, including that
shareholder approval may be required if the private placement results in a new
control person being created. Excelsior cannot proceed to complete the private
placement until the TSXV has determined whether such shareholder approval is
required for the private placement. The TSXV has advised Excelsior that it will
be reviewing such matter but cannot, at this time, confirm when it will make its
determination.

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