ELE Elemental Altus Royalties Corp

Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Corporation") is
pleased to announce the results of its annual and special meeting of common
shareholders held on August 11, 2010.


At the meeting of the common shareholders, all resolutions tabled at the meeting
were approved by an overwhelming majority. In addition to approving the
appointment of directors and auditors, shareholders also re-approved the
Corporation's stock option plan.


As a result of the appointment of the slate of the directors set forth at the
meeting, John A. Brussa and Henry W. Sykes, QC, were appointed as directors of
the Corporation. The Board of Directors is now comprised of Messrs. David Fuchs,
James Howe, Verne Johnson, Jeffrey Scott, John A. Brussa, Henry W. Sykes, QC and
Dr. David A. Winter. Verne Johnson will serve as Chairman of the Corporation.
The Corporation would like to thank both Harley Winger and Cliff Jeffrey, former
directors of the Corporation who did not stand for re-election at the meeting,
for their invaluable contributions to the Corporation and wishes them the best
in their future endeavors.


Mr. Brussa is a senior partner of Burnet, Duckworth & Palmer LLP, a Calgary
based law firm, specializing in the area of taxation. He holds a Bachelor of
Laws degree from the University of Windsor. Mr. Brussa is a director of a number
of energy and energy-related corporations and income funds. In addition, Mr.
Brussa is a past governor of the Canadian Tax Foundation and is a director or
trustee of a number of charitable and non-profit organizations.


Mr. Sykes has a Bachelor of Arts degree in economics from McGill University, and
a law degree from the University of Toronto. Mr. Sykes is President of MGM
Energy Corp., a junior exploration company active in Northern Canada. Mr. Sykes
was President of ConocoPhillips Canada from 2001 to 2006 and prior thereto he
was Executive Vice-President, Business Development, of Gulf Canada Resources. He
began his career as a lawyer and specialized in mergers and acquisitions,
securities and corporate law.


The Board granted in aggregate 2,400,000 incentive stock options to purchase
common shares of Excelsior (the "Options") to the new directors pursuant to the
terms and conditions of its stock option plan. The Options are exercisable over
a five year period at $0.33 per common share, which Options shall vest as to 1/3
per year starting from the date of grant.


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.

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