VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2010) -
NOT FOR DISSEMINATION
IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
Peter Grandich ("Mr. Grandich") announces that he has
acquired 1,333,334 units ("Units") of Excelsior Mining Corp. ("Excelsior") at a
price of $0.15 per Unit. Each Unit is comprised of one common share of
Excelsior ("Common Shares") and one common share purchase warrant ("Warrant").
Mr. Grandich now beneficially owns or controls 1,333,334
Common Shares (approximately 7.72% of the issued and outstanding Common Shares)
and 1,333,334 Warrants. Assuming exercise of all of the Warrants which Mr.
Grandich beneficially owns and controls, Mr. Grandich would own or control
approximately 14.35% of the Common Shares then issued and outstanding.
The Common Shares were acquired for investment purposes from
the treasury of Excelsior.
Although Mr. Grandich has no present intention to increase
his ownership, Mr. Grandich may increase or decrease his ownership of Excelsior
from time to time based on investment considerations.