News Column

Excelsior Gold Limited - Execution of Convertible Loan Documentation

July 29, 2014



ENP Newswire - 29 July 2014

Release date- 25072014 - Excelsior Gold Limited is pleased to announce that the execution of final documentation relating to the convertible loan facility announced on 20 May 2014 has occurred.

The Company has completed the drawdown of the first $2 million (before fees) under the Facility and anticipates drawing down of the second $2 million by the end of September 2014. Consequently, the Company has issued 43,478,261 options exercisable at $0.092 expiring 31 December 2015 to Macquarie Bank Limited.

Excelsior Gold will use the available funds to accelerate the Definitive Feasibility Study (DFS) on the ore treatment and capital contribution scenario at the Paddington Mill. The initial phase of the DFS includes resources and reserves expansion drilling, and geotechnical works to optimise open pit designs.

For further information visit www.excelsiorgold.com.au

Contact

Excelsior Gold Limited

David Hamlyn

Managing Director

Tel: + 61 8 9335 7770

Email: dhamlyn@excelsiorgold.com.au

Nicholas Ong

Company Secretary

Tel: + 61 8 9335 7770

Email: nickong@excelsiorgold.com.au


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Source: ENP Newswire


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