29 July 2014
ASX Market Announcements
ASX Limited
Exchange Centre ASX Code: EXG
20 Bridge Street
Sydney NSW 2000

Research Reports

Excelsior Gold Limited (Excelsior Gold or the Company) is pleased to advise that both Eagle Research Advisory Pty Limited ("ERA") and BBY Limited have initiated research coverage on the Company.
To view the reports, entitled "Targeting Production from its Zoroastrian Pit" and "Funding
Structure a Vote for Project Upside" please visit our website at:
http://www.excelsiorgold.com.au/investor-information/analyst-reports
ERA is retained by the Company for the provision of research services.
For further information visit www.excelsiorgold.com.auor contact

Excelsior Gold Limited

David Hamlyn

Managing Director

T: + 61 8 9335 7770
E: dhamlyn@excelsiorgold.com.au

Excelsior Gold Limited ABN 38 123 629 863

Address: Unit 2, 124 Stirling Highway, North Fremantle WA 6159 Postal:PO Box 520, North Fremantle WA 6159 Telephone:08 9335 7770 Facsimile: 08 9335 6231

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