EXTRACT -

"The combined measured & indicated mineral resources estimate has increased by 26.6% as a result of the conversion of some of the 1.39 billion pounds of Cu (388 million short tons at 0.21% Cu) in the inferred mineral resource category into the measured & indicated categories."

http://finance.yahoo.com/news/excelsior-announces-updated-mineral-estimate-120100661.html

Significantly, the Internal Rate of Return here had earlier been estimated at "...59.7% and a payback period of 1.8 years." [In other words, this project by the earlier pre feasibility study can have development costs returned in much less that two years!]

This is the type of project recently suggested by LBSR as may be possible for them in the short term, something involving underground leaching of ore. This is very low cost, and with a very short lead time to production.

Having said that, this would not be a "super project" for LBSR, but can get cash flow coming in while work continues at other locations.

Excelsior's project is next to Johnson Camp, on US Hwy 10.

VP