NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Corporation")
Further to its news release issued on April 29, 2010, Excelsior announces it
will not be required to obtain the approval of its shareholders prior to the
completion of the proposed $20.0 million and $6.0 million private placements
announced on April 16, 2010, and May 13, 2010, respectively. Final acceptance of
the TSX Venture Exchange is subject to the filing of all required final
documentation after the completion of the financings which is expected to occur
on or about the week of May 31, 2010.


About Excelsior

Excelsior is an early stage, oil sands company with 58 operated sections on two
contiguous blocks in the Hangingstone and West Surmont areas of the Athabasca
Oil Sands Region near Fort McMurray, Alberta. The Company has developed a
proprietary in situ combustion technology ("Combustion Overhead Gravity
Drainage" or "COGD") which has potential to improve economic and environmental
impact in the development and recovery of heavy oil and bitumen. An application
for an experimental pilot project to field demonstrate the COGD technology was
submitted in the second quarter of 2009. Project approval is expected in the
latter half of 2010 with subsequent implementation and commissioning in early
2011. Excelsior's strategy is to capture oil and gas appraisal and development
opportunities where we can leverage Management's diverse international
operating, heavy oil and field development expertise with developing
technologies to produce oil and gas.


Note Regarding Forward Looking Statements

This document contains forward-looking statements. More particularly, this
document contains statements concerning: the completion of the proposed $20.0
million and $6.0 million private placements and the anticipate closing date for
the proposed $20.0 million and $6.0 million private placements.

The forward-looking statements are based on certain key expectations and
assumptions made by Excelsior, including expectations and assumptions
concerning: timing of receipt of regulatory approvals and third party consents
and the satisfaction of other conditions to the completion of the proposed $20.0
million and $6.0 million private placements.


Although Excelsior believes that the expectations and assumptions on which the
forward-looking statements made by such party are based are reasonable, undue
reliance should not be placed on the forward-looking statements because no
assurance can be provided that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, risks that unforeseen
approvals may be required, that regulatory and third party approvals and
consents are not obtained on terms satisfactory to the parties, or at all, and
risks that other conditions to the completion of the proposed $20.0 million and
$6.0 million private placements are not satisfied; the risks associated with the
oil and gas industry in general such as operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; ability to access
sufficient capital from internal and external sources and changes in
legislation, including but not limited to tax laws, royalties and environmental
regulations.


The forward-looking statements contained in this press release are made as of
the date hereof and Excelsior undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities within the United States. The
securities to be offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, or any state securities laws, and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of such Act or other laws.
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