Excelsior Mining Secures Credit Facility

Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that it and its wholly-owned subsidiary Excelsior Mining Arizona, Inc. ("Excelsior Arizona") have entered into an agreement with Nebari Natural Resources Credit Fund I LP ("Nebari") for a US$15 million credit facility (the "Credit Facility"). The Credit Facility provides for an initial draw of US$5 million (the "Initial Draw"), and two additional draws of US$5 million each at the sole option of Excelsior Arizona. There are no common shares, warrants or other convertible securities issuable to Nebari in connection with the Credit Facility. Excelsior anticipates first copper production in Q4 2019.

"For a mining project of this size and scope, it is prudent and responsible to have a credit facility in place should the need arise," stated Stephen Twyerould, President and CEO. "The Credit Facility is non-dilutive to shareholders and is structured so that the Company only draws down funding if it is required for operations."

The US$15 million Credit Facility has an initial term of 15-months from the date of the Initial Draw (the "Maturity Date"). The Credit Facility may be extended for up to two additional six-month periods (21-months and 27-months from the date of the Initial Draw). The proceeds of the Credit Facility will be advanced to Excelsior Arizona and Excelsior and one of its subsidiaries is acting as guarantor for the Credit Facility. The Credit Facility is secured against the assets of Excelsior and certain of its subsidiaries.

The Credit Facility shall bear interest at 14.2% per annum, payable monthly. An arrangement fee of 2.0% (US$300,000) (the "Arrangement Fee") of the total available funds under the Credit Facility is payable on closing. The Arrangement Fee is creditable against interest payable on the draws under the Credit Facility, to a maximum of US$100,000 of interest per each draw.

Nebari is at arm's length to the Company. There are no commissions or finders' fees payable in connection with the Transaction.

About Nebari

Nebari is a New York based manager of privately offered pooled investment vehicles including Nebari Natural Resources Credit Fund I, LP which is funding this transaction. The leadership team has deep experience with leading global mining companies and financial institutions. Nebari is known for partnering with motivated and capable management teams focused on achieving clear plan targets.

About Excelsior Mining

Excelsior "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is fully-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