10:04 AM EST - Excelsior Mining Corp : announced that it has entered into a share purchase and royalty option agreement with Callinan Royalties Corp. Under the terms of the agreement, Callinan will invest $1.0 million in the company by way of a non-brokered private placement and up to a further $21 million through the purchase of a staged gross revenue royalty on the Gunnison copper project, located in a remote section of Cochise County in southeastern Arizona. Callinan will purchase 6.25 million common shares of Excelsior at a price of $0.16 per common share for gross proceeds of $1.0 million. Excelsior Mining Corp
shares V.MIN are trading up $0.01 at $0.17.
