ASX Announcement
22 December 2010


KALGOORLIE NORTH GOLD PROJECT - RESOURCE UPGRADE

Highlights:

- Total Kalgoorlie North Project resources increased to 553,700ozs --
11.65Mt @ 1.48g/t Au (at 0.6g/t cut-off)
- Recent drilling increases Lochinvar resource by 270%
- Drilling program completed at Castlereagh designed to extend resources
- Significant potential to increase resources at other deposits

Western Australian gold explorer Excelsior Gold Limited (ASX:EXG)
(Excelsior or the Company) is pleased to advise that extensions to
mineralisation intersected in recent drilling on the Lochinvar prospect at
the Kalgoorlie North Gold Project has significantly expanded mineral
resources on the deposit and total Project Indicated and Inferred Resources
have increased to: -

11.65Mt @ 1.48g/t Au containing 553,700ozs at 0.6g/t lower cut-off, or
8.15Mt @ 1.77g/t Au containing 463,100ozs at 1.0g/t cut-off

Resources at the Lochinvar prospect on the Excelsior Shear Zone have been
substantially increased following intersection of strong gold
mineralisation in the November drilling program (Refer to EXG ASX
announcement dated 7 December 2010) including: -

8 metres @ 3.59g/t Au from 95 metres;
3 metres @ 4.78g/t Au from 110 metres; and
5 metres @ 4.05g/t Au from 80 metres.

Initial Inferred resources of 143,000 tonnes @ 2.13g/t containing 9,800ozs
Au at a 1.0g/t au cut-off to at Lochinvar increased to: -

Indicated 384,000 tonnes @ 1.84g/t Au for 22,700ozs
Inferred 61,000 tonnes @ 1.9g/t Au for 3,800ozs
Total 445,000 tonnes @ 1.85g/t Au for 26,500ozs


To download the full ASX Announcement please visit here:
http://esp.gewru.com/download/files/12414/1293916/20101222%20-%20EXG_KalgoorlieNorth_LochinvarResourceUpgrade_ASXAnn_2.pdf


For further information please contact:

Excelsior Gold Limited
David Hamlyn
Chief Operating Officer/Executive Director
T: 08 9481 2276
E:

Media:
David Brook
Professional Public Relations
T: 08 93388 0944 / 0415 096 804
E:








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