Excel Gold Mining Inc. announces the Closing of a Private Placement Totalling $1,050,000

MONTREAL, QUEBEC - (July 22, 2010) - Excel Gold Mining Inc. ("Excel") (TSX VENTURE: EGM) is pleased to announce the closing on July 22, 2010 of a non-brokered private placement of $1,050,000, consisting of 10,500,000 common shares at a price of $0,10 per share and of 10,500,000 one-half (1/2) of one (1) warrant, each whole warrant entitling its holder to purchase one (1) common share of Excel at a price of $0.15 for a period of twenty-four (24) months. The proceeds will be used towards the working capital of Excel and its exploration programs in the Montauban mining camp, in Province of Quebec.

In connection with the placement, the Company paid a cash finder's fee to certain eligible parties totalling $105,000 and issued, as additional consideration, 1,050,000 non-transferable warrants, entitling its holder to subscribe for one common share of Excel at a price of $0.10 for a period of twenty-four (24) months from the closing.

Each share or warrant issued hereunder shall be subject to a resale restriction of four (4) months from the issuing date.

This placement is conditional on various conditions and on the approval of all governing authorities, including the TSX Venture Exchange.

About Excel

Excel is a Canadian based junior exploration company focused on building shareholder wealth through the acquisition and development of strategic assets in mining friendly jurisdictions, particularly in the province of Quebec.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Contact:

Jacques Vallée

Director

Excel Gold Mining Inc.

(514) 844-8770 #101