MIN

Excelsior Mining Corp. (TSX VENTURE:MIN)(OTCQX:EXMGF)(FRANKFURT:3XS) - 

Highlights of Gunnison Oxide Resource Upgrade:



--  34% of metal in previous Indicated resource upgraded to Measured
    category 
--  Grade of Measured resource: 0.41% Cu 
--  Results based on 2012 drill program consisting of 10,502 ft (3,150 m) of
    diamond drilling 
--  New resource estimate uses cut-off grade of 0.1% total copper 



Excelsior Mining Corp. (TSX VENTURE:MIN)(OTCQX:EXMGF)(FRANKFURT:3XS)
("Excelsior" or the "Company") is pleased to provide an update to its existing
resource estimate for the North Star deposit, part of Excelsior's Gunnison
Copper Project, located in southeastern Arizona.


Resource estimation: North Star copper oxide only at 0.1% total copper cut-off
grade. This mineral resource estimate is effective as of March 1, 2013.




                                                                            
----------------------------------------------------------------------------
Resource Category                      Tons(1)       Grade(2)       Cu Metal
                                        (Mton)     (% Copper)  (Billion lbs)
----------------------------------------------------------------------------
Measured                                 136.1           0.41           1.10
----------------------------------------------------------------------------
Indicated                                362.3           0.29           2.11
----------------------------------------------------------------------------
Measured + Indicated                     498.4           0.32           3.21
----------------------------------------------------------------------------
Inferred                                 156.2           0.27           0.83
----------------------------------------------------------------------------
Notes: (1) US short ton, (2) total copper                                   



"By successfully moving a significant percentage of our Indicated resource to
the measured category we have increased the geological certainty of the North
Star deposit," stated Stephen Twyerould, President and CEO. "We are also very
pleased with the consistency of this new resource calculation as compared to the
previous calculation which garners confidence in the management team and the
robustness of the deposit."


The previous mineral resource estimate of the oxide portion of North Star copper
deposit consisted of an Indicated mineral resource of 511 M tons grading 0.31%
for 3.21 billion pounds of contained copper metal, and an additional Inferred
mineral resource of 159 M tons grading 0.28% for 0.88 billion pounds of
contained copper metal.


The mineral resource estimate for the North Star deposit is based on results
from 88 holes (129,272 feet) out of a total data base of 117 drill holes
totalling 153,306 feet (ft) and is effective as of March 1, 2013. The resource
estimation was performed by Independent Mining Consultants Inc. of Tucson,
Arizona under the supervision of Dr. Roland Goodgame, VP Exploration and
Director of Excelsior. Dr. Goodgame has reviewed and approved the technical
information disclosed in this press release and is a Qualified Person (QP) as
defined by National Instrument (NI) 43-101. Dr. Goodgame has verified the data
underlying the results by supervising the drilling, sampling, assay, geology,
quality assurance, quality control and interpretation. The estimate is
classified as a Measured, Indicated or Inferred mineral resource, consistent
with the CIM definitions referred to in NI 43-101. Excelsior is not aware of any
environmental, permitting, legal, title, taxation, socio-political, marketing or
other issues which may materially affect its estimate of mineral resources.


The mineral resource estimate is contained within a block model of the North
Star deposit covering a surface area of 3.30 square miles and to a maximum depth
of 2,575 feet below the topographic surface. The major geologic formations and
oxidization types are incorporated into the block model based on the drill hole
intercept data. The total copper grades are estimated using an ordinary kriging
estimation technique from 25 ft drill hole composite data. The grade estimate
for the sedimentary units uses a 700 ft circular by 50 ft search distance
dipping 30 degrees east to parallel the general dip of the sedimentary units.
The grade estimation respected the contacts of the various sedimentary units.
The 700 ft distance is 70% of the variogram range. The total copper grades in
the non-sedimentary units were estimated using a 500 ft spherical search. No
copper grades are estimated in the overburden or un-mineralized rock units.
Copper grade estimates based on eight or more holes are classified as Measured,
grades based on three to seven holes are Indicated and grades based on less than
three holes are Inferred.


All samples are prepared from manually split half-core sections on site in
Arizona. Split drill core samples are then sent to Skyline Assayers &
Laboratories in Tucson, Arizona for Total Copper and Sequential Copper analyses.
Standards, blanks, and duplicate assays are included at regular intervals in
each sample batch submitted from the field as part of an ongoing Quality
Assurance/Quality Control Program.


Project Summary

The Gunnison Copper Project is located in a remote section of Cochise County in
southeastern Arizona. The focus of the project is the North Star deposit, which
currently has a total Measured and Indicated mineral resource of 3.21 billion
pounds of oxide copper (498 M tons at 0.32%) and an Inferred mineral resource of
0.83 billion pounds of oxide copper (156 M tons at 0.27%). This oxide mineral
resource has the potential to be mined using in-situ recovery methods. Mineral
resources which are not mineral reserves do not have demonstrated economic
viability.


About Excelsior

Excelsior is an exploration company with a copper project located within the
Copper Porphyry Belt of Arizona. The Gunnison Copper Project is located close to
the required infrastructure and its oxide copper resource has the potential to
be mined using in-situ recovery methods. The Excelsior team consists of
experienced professionals with proven track records of advancing projects
towards production.


Further details about Excelsior can be found at: http://www.excelsiormining.com.
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 Preliminary Economic Assessment, NI 43-101 Technical Report" dated
November 18, 2011.


ON BEHALF OF THE EXCELSIOR BOARD

Stephen Twyerould, President & CEO

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 estimation of measured, indicated and
inferred mineral resources; and (ii) the ability to mine Gunnison using in-situ
recovery mining techniques are forward-looking statements.


In certain cases, forward-looking information can be identified by the use of
words such as "plans", "expects" or "does not expect", "is expected", "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" or
"will be taken", "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, the realization of resource
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 environmental assessment 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, 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 Annual Information Form for the most recently completed financial year
or other reports and filings with applicable Canadian securities regulations.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Excelsior Mining Corp.
JJ Jennex
Vice President, Corporate Affairs
604-681-8030 x240
info@excelsiormining.com
www.excelsiormining.com

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