PHOENIX, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Excelsior Mining Corp. (TSX:MIN) (FSE:3XS) (OTCQX:EXMGF) ("Excelsior" or the “Company”) announces that the United States Environmental Protection Agency (“EPA”) has informed the Company that the public comment period for the Underground Injection Control (“UIC”) permit, for the Gunnison Copper Project, will be extended in order to facilitate a public meeting (the “Public Meeting”). The Public Meeting is scheduled for February 27, 2018 in Dragoon, Arizona.
The timing of the issuance of the final UIC permit is subject to the completion of the public comment period. The UIC permit remains the last permit required to start construction and get into production.
Stephen Twyerould, the President and CEO, said, “We look forward to working with the EPA and all stakeholders to ensure our Gunnison Copper Project meets all regulatory requirements. The Public Meeting is a typical part of the permitting process and represents an opportunity for the communities around us to learn more about the Project prior to receipt of the final EPA Permit. Backed by industry-leading economics, and our commitment to environmental stewardship, the Gunnison Copper Project remains on-track to become the next new copper producer in the United States.”
About Excelsior Mining
Excelsior Mining “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. 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.
