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Excelsior appoints CFO

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Excelsior appoints CFO

Excelsior MiningCorp. said April 28 that it appointed Mark Distler as CFO, replacingCarlo Valente.

Distler has over 30 years' experience in the mining industryand has held senior financial positions at a number of resource companies.

This change is part of an ongoing transition of the company'smanagement to its Phoenix office as the Gunnison copper project in Arizona reaches an advanced stage.

The company released an updated pre-feasibility study on theNorth Star deposit at Gunnison, which defineda posttax net present value of US$829 million at a 7.5% discount rate and an internalrate of return of 45.8%.

Excelsior also said AltiusMinerals Corp., on behalf of its subsidiary Callinan Royalties Corp., has declined to exercise a thirdroyalty option in the Gunnison project as part of a 2013 agreement.

Altius continues to hold a 1% gross revenue royalty in Gunnisonand holds the remaining option to acquire up to an additional 0.5% for C$5 million,based on the remaining construction milestone royalty.