Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program

PHOENIX, April 11, 2022

"The infill drill results from the Burro pit are in-line with existing drilling.  If anything, mineralization appears better and shallower at the north end, but thinning at the south end of the existing pit.  We look forward to getting all the results back, completing the geological and resource interpretations and design optimization, with our goal of restarting of the JCM open pits later this year." Comments Roland Goodgame, Senior Vice President Business Development.

The improved results at the north end of the pit, including the high average leaching potential, should allow the Company to develop a mine plan that targets the high-grade section to maximize cashflows at the start of operations. Permitting of the new leach pad to restart operations is in progress and the Company's goal remains to restart mining operations at JCM later this year.

A total of 31 of the 34 planned holes have been drilled using diamond drill rigs, with 6 holes drilled waiting on assays. Sequential copper assays for approximately 73% of the entire drill program are complete, with the average leaching potential exceeding 60% (excludes intervals that contain sulfide mineralization). Assay highlights are included in Table 1 below. Full assays are included in Table 2.