7/29/2014 - 9:50 AM EST - Callinan Royalties Corp. : has exercised the first royalty option under the Share Purchase and Royalty Option Agreement dated July 19, 2013 between Excelsior Mining Corporation and Callinan. As a result of the exercise of the first royalty option Callinan has paid the Company $3.0 million and in return received a 0.5% gross revenue royalty on the Gunnison Project. Combined with the initial GRR that Callinan acquired in July 2013, Callinan now holds a 1.0% GRR on the Gunnison Project. Callinan Royalties Corp.
shares V.CAA are trading unchanged at $1.88.
