ELE Elemental Altus Royalties Corp

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Excelsior Energy Limited ("Excelsior" or the "Corporation") (TSX VENTURE:ELE).
Further to its press release dated January 11, 2008, the Corporation reported it
had drilled, cored, logged and abandoned four oil sands core wells as part of
its ongoing 24 core well program at Hangingstone. All core wells appraising oil
sands resources are abandoned and the land reclaimed as per Excelsior's
commitments under the approved Hangingstone Oil Sands Exploration Plan (OSE
070034). Their sole purpose is to evaluate and delineate the reservoir geology,
the quality and engineering properties of the reservoir and the extent and
volume of exploitable bitumen. All of the Corporation's core wells drilled to
date at Hangingstone have recovered high quality bitumen bearing McMurray
Formation sands.


Further details of the core well results will be issued at a later date.

About Excelsior Energy

The Corporation is active in oil sands exploration and appraisal in the
Hangingstone and West Surmont areas near Fort McMurray, Alberta and will hold a
75% working interest as operator in 58 contiguous sections on completion of its
farm-in obligations. The Corporation also holds a 100% working interest in
Blocks 16/1a and 16/6c in the UK North Sea and a minor interest in gas
production in Alberta. The Corporation's strategy is to capture oil and gas
appraisal and development opportunities where we can leverage Management's
diverse international experience and field development expertise. This includes
heavy oil reservoir engineering and development of complex fields. The scale of
the oil sands resource opportunity in Alberta complements Excelsior's
international portfolio and strategy.


Forward Looking Statements

Certain information set forth in this press release, including a discussion of
future plans and operations, contains forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond management's control, including but not limited to, the impact of general
economic conditions, industry conditions, fluctuation of commodity prices,
fluctuation of foreign exchange rates, environmental risks, industry
competition, availability of qualified personnel and management, stock market
volatility, timely and cost effective access to sufficient capital from internal
and external sources, as well as risks inherent in operating in foreign
jurisdictions, including varying judicial or administrative guidance on
interpreting rules and regulations and a higher degree of discretion on the part
of governmental authorities. Actual results, performance or achievement could
differ materially from those expressed in or implied by these forward-looking
statements.

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