PHOENIX, Arizona–(Newsfile Corp. – April 24, 2023)- Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQB: EXMGF) (“Excelsior” or “Company”) is pleased to announce that the US Environmental Protection Agency has issued an amendment to the Class III Underground Injection Control (“UIC”) Area Permit. This will allow well stimulation at the Gunnison Copper Project in Cochise County in the southeast. Arizona.
Well stimulation has the potential to fundamentally alter well field performance and eliminate or reduce the need for raffinate neutralization plants. Excelsior plans to begin field trials in the first half of 2023. Excelsior will submit the well stimulation work plan required for permits and will soon schedule the necessary contractors.
Well stimulation is primarily intended to inflate (open up) the existing mineralized factor network in the well, helping air bubbles to escape. Enlarge existing channels and flow paths to increase pore space and allow solutions to move more easily from injection to collection. Doing so should improve connections between these wells, improving flow rates, sweep efficiency, and copper production. Previously, Excelsior commissioned a leading engineering and environmental consulting firm to select wells within the current wells to perform well stimulation modeling. This model showed that well stimulation successfully dilated pre-existing fractures over a substantial amount around the central well within a 5-spot pattern.
The amended permit will take effect on May 26thth2023.
About Excelsior Mining
Excelsior”Copper Solution Companyis a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low-cost, environmentally friendly, on-site recovery copper extraction project that produces 125 million pounds of copper annually. Cathode permits Excelsior also owns a portfolio of exploration projects, including the previously producing Johnson Camp Mine and the Peabody Sill, Strong and Harris deposits.
For more information on Excelsior, please visit www.excelsior.com. www.excelsiormining.com.
For more information about this press release, please contact:
Excelsior Mining Corporation
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, Arizona, 85018.
Sean Westcott
Phone: 604.365.6681
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www.excelsiormining.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” regarding 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 regarding the following: (ii) details of future well stimulation tests, including anticipated timelines; and (iii) future production and capacity from our mineral projects.
In some cases, forward-looking information is “planned”, “expected” or “not expected”, “budgeted”, “scheduled”, “estimated”, “forecast”, “intended” It can be identified using words such as ‘, ‘expect’, ‘unexpect’ or ‘believe’ or any variation of such words or phrases or any particular action, event or outcome that ‘could’ or ‘could’ , “may”, “may”, “will occur” implying future results or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance Or “achieved”. The forward-looking information contained in this news release is based on, among other things, the non-appeal of amended permits, the timely approval of the work plan, and the availability of funds to implement the company’s operational plans. Based on certain factors and assumptions about what is possible. , mineral resources and reserves estimates, realization of resource and reserves estimates, projections and projected impacts of the COVID-19 outbreak, copper and other metal prices, timing and amounts of future development spending, initial and Estimated ongoing capital requirements, labor and operating cost estimates (including acid prices), availability of labor, materials and acid supplies, receipt and compliance with required regulatory approvals and permits, insurance coverage Estimation of Scope and Assumptions Regarding Currency Fluctuations, Environmental Risks, Title Disputes or Claims, and Other Similar Matters. We believe these assumptions are reasonable based on currently available information, but they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and our actual results, performance or achievements may differ materially from future results, performance or achievements expressed or implied by forward-looking information. Includes other factors that may vary. Such factors include the possibility that mining operations at the Gunnison Copper Project may not be maintained, the construction and operation of mineral deposits, including the risks associated with changes in project parameters as plans continue to be redefined. includes risks inherent in Amendments to permits that delay validity, risks associated with delays in approval of work plans, fluctuations in mineral resources and reserves, grades or recovery rates, risks associated with access to infrastructure, fluctuations in copper and other commodity prices and global supply and demand for copper and related products; risks related to increased competition in markets for copper and related products; risks related to current global financial conditions; Risks associated with the situation and the impact of COVID-19 related to our business, the uncertainties inherent in estimating mineral resources, access and supply risks, and our ability to access acid supplies on commercially reasonable terms. operational risks inherent in conducting mining activities, including risks associated with operations, reliance on key personnel, risks inherent in conducting mining activities, accidents, labor disputes, increased capital and operating costs, and risks that may occur during the construction or mining process. Risk of delays or increased costs, regulatory risks, including permitted risks, may not be obtained in a timely manner or at all. funding, capitalization and liquidity risks; risks related to property and interest disputes; environmental risks; added risk.
Although we have attempted to identify important factors that could cause our actual actions, events or results to differ materially from those set forth in the forward-looking information, we do not anticipate any future actions, events or results. , estimates, or other factors that may cause it to differ from expectations. was intended. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is current as of the date of this news release. We undertake no obligation to publicly update or revise any forward-looking information, except as required by applicable securities laws.
