VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) -

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Excelsior Mining Corp. (TSX VENTURE:MIN) ("Excelsior") is pleased to announce that a metallurgical program has commenced on the Gunnison Copper Project located within the copper porphyry belt in southeastern Arizona.

Samples from two recently drilled metallurgical holes have been shipped to Hazen Laboratory in Denver, Colorado for column leach testing. Preliminary results are expected in the middle of the second quarter of 2011. The column leach tests will greatly improve the current understanding of in-situ copper extraction on the Gunnison Copper Project. Excelsior's metallurgical program will build upon prior work completed by Magma Copper Corporation ("Magma"). Magma drilled eight holes and completed several comprehensive metallurgical tests and hydrological studies. The Magma tests indicated acid consumption and copper recovery were favourable for in-situ mining on the Gunnison Project.

"Previous testing was very encouraging and has warranted continued examination," says Stephen Twyerould, President & CEO of Excelsior. "We are excited to have commenced this next phase of our work program and look forward to the results in a few months."

The metallurgical program will be complimented by a hydrological program, which is expected to commence by the beginning of the second quarter of 2011. Management is expecting the two programs will confirm previous results that demonstrate the Gunnison Project can be mined using in-situ recovery methods.

The metallurgical program is being supervised by Dr. Aberra Getahun, Ph.D., General Manager Production and Permitting for Excelsior. Dr. Getahun has 25 years of experience in hydrogeology, in-situ solution mining, and acid generating and neutralizing capacity. Dr. Getahun holds a Ph.D. in Aqueous Geochemistry from the University of Oregon.

Stephen Twyerould (Fellow of AUSIMM), President and CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101, has reviewed and is responsible for the technical information contained in this news release.

About Excelsior

Excelsior is an exploration and development 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 with its in-situ recovery potential, is intended for near-term production. The Excelsior team consists of experienced professionals with proven track records of advancing projects towards production.

Further details about Excelsior can be found on Excelsior's website at: http://www.excelsiormining.com.

ON BEHALF OF THE EXCELSIOR BOARD

Stephen Twyerould, President & CEO