Excellon Acquires Significant Exploration Property South of Tres Cerros Acquisition increases Tres Cerros concessions by ~52% to 3,310 hectares and extends Tres Cerros corridor ~5 kilometres to the south
Excellon Acquires Significant Exploration
Property South of Tres Cerros
Acquisition increases Tres Cerros concessions by ~52% to
3,310 hectares and extends Tres Cerros corridor ~5 kilometres
to the south
Toronto, Ontario--(Newsfile Corp. - January 12, 2026) -
Excellon Resources Inc. (TSXV: EXN) (OTC
Pink: EXNRF) (FSE: E4X2)
("
Excellon
" or the "
Company
") is pleased to announce the acquisition of
two new mineral concessions, materially extending Excellon's land position south of the Tres Cerros
Gold-Silver Exploration Property in Peru.
Highlights:
Major land position expansion:
Adds 1,132 hectares of highly prospective ground immediately
south of and contiguous with the Company's existing Tres Cerros claims (see Image 1).
Extends Tres Cerros corridor:
Coincident IP, geochemical and spectral anomalies identified at
the southern margin of the original concessions, together with interpreted controlling geological
features, appear to continue into the newly acquired concessions forming a 10 km N-S x 5 km E-W
corridor of prospective terrain. The acquired area also hosts a large intrusive body interpreted to
be related to the Tres Cerros mineralizing event.
Terra Resources reinterpretation identifies drill-ready targets:
Terra Resources Pty Ltd
("
Terra
") has completed a technical reinterpretation of the historical geophysical and geological
datasets and generated a ranked set of priority drill targets to support Excellon's first phase of
drilling.
Permitting update:
Excellon has initiated the drill permit process for an initial ~5,000-metre drill
program.
Shawn Howarth, President and CEO, commented,
"This acquisition extends our prospective trend
by approximately five kilometres to the south, giving us the scale to pursue this system as an emerging
district. With Terra's ranked drill targets in hand and permitting now in progress, we're focused on
executing a disciplined, first-pass 5,000-metre program and letting the results drive the next phase."
Image 1: Tres Cerros and Mallay Property Claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1601/280026_5219b93d74a988b0_001full.jpg
New Concessions: Tres Cerros 32 and Tres Cerros 33
Excellon's Peruvian subsidiary, Minera CRC S.A.C. ("Minera CRC") acquired the following concessions:
Tres Cerros 32 – 632 hectares
Tres Cerros 33 – 500 hectares
Exploration by Excellon and predecessor Buenaventura identified a strong, 2.5-kilometre-long, north-
south trending zone of coincident IP, geochemical and satellite spectral anomalies which extend to the
southern margin of the Company's original tenements. The geophysical anomaly trends are open to the
north and south beyond the limits of the historical survey coverage. Mapped controlling structures and
spectral anomalies are interpreted to continue into the newly acquired concessions. The acquired area
also hosts a large intrusive body which is interpreted to be related to the Tres Cerros mineralizing event.
Terra Resources Technical Reinterpretation and Targeting
To accelerate drill targeting, Excellon engaged Terra to review and re-interpret historical datasets,
including ground magnetics and pole-pole resistivity and induced polarization (IP). Terra's work program
included quality assurance/quality control of datasets, reprocessing and enhancement, 2D inversion
modelling and 3D inversion of resistivity and chargeability, and integrated interpretation to define and
rank targets suitable for first-pass drilling.
In its geophysical review presentation, Terra reports that the reprocessed and inverted datasets support
multiple chargeability targets along the main north-south structural corridor and additional targets
associated with interpreted volcanic and caldera-margin features. Excellon will use these ranked targets
to form the basis of the Company's first phase of drill testing at Tres Cerros, subject to permitting and
field readiness.
Image 2: Priority Exploration Areas at Tres Cerros
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1601/280026_5219b93d74a988b0_002full.jpg
Next Steps
Exploration drilling permitting has been initiated. Further updates will be provided as this process
advances.
Fieldwork is expected to commence in Q2 2026.
An initial ~5,000-metre drill program is planned on completion of permitting.
Qualified Person
Steven L. Park, M.Sc., C.P.G., an independent consulting geologist and a Qualified Person within the
meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed
and approved the scientific and technical information related to the Tres Cerros Exploration Property
contained in this news release.
Overview of Tres Cerros
The Tres Cerros Gold and Silver Exploration Property is a 3,310-hectare land package located adjacent
to Excellon's Mallay Silver Mine in the prolific Miocene metallogenic belt of Central Peru, and hosts a
~2.5 km x 0.5 km corridor of high-sulphidation gold–silver mineralization with coincident Induced
Polarization (IP) and resistivity anomalies, representing a compelling bulk-tonnage exploration target.
Under the terms announced with Excellon's October 2024 acquisition of Mallay and Tres Cerros,
Excellon is party to a back-in rights agreement providing for the sale of up to 49% of Tres Cerros at an
exercise price of 1.5x Excellon's qualifying expenditures incurred. If the back-in right is exercised, the
parties would thereafter fund future exploration and development on a pro rata basis in accordance with
respective ownership interests.
About Excellon Resources Inc.
Excellon's vision is to realize opportunities through the acquisition and advancement of quality precious
and base metal assets, leveraging an experienced management team for the benefit of its employees,
communities and shareholders. The Company is focused on the potential restart of the Mallay Silver
Mine in Peru. Excellon also holds a portfolio of exploration-stage projects, including Kilgore, an
advanced gold project in Idaho, and Silver City, a high-grade epithermal silver district in Saxony,
Germany, and the Tres Cerros Gold-Silver Exploration Property in Peru, providing additional growth
upside. Additional details on Excellon's properties can be found at
www.excellonresources.com
.
For Further Information, Please Contact:
Excellon Resources Inc.
Shawn Howarth, President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
All statements, other than statements of historical fact, contained, referenced or incorporated by
reference in this news release constitute "forward-looking statements" and "forward-looking
information" within the meaning of applicable Canadian and United States securities legislation.
Generally, these statements can be identified by words such as "anticipate", "believe", "continue",
"could", "estimate", "expect", "intend", "may", "plan", "potential", "schedule", "should", "target", "will"
and similar expressions, and include statements about events or results that may occur in the future.
This news release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian and United States securities
laws. Forward-looking statements include, but are not limited to, statements regarding: the prospective
nature and interpreted continuity of geophysical, geochemical and spectral anomalies into the newly
acquired concessions; interpretations regarding the potential relationship of intrusive rocks to
mineralization; the results and significance of Terra's reinterpretation work and target ranking; the
timing and outcome of drilling permit applications and regulatory review; the timing of planned
fieldwork; and the timing, scope and execution of any initial ~5,000-metre drill program and the timing
of related exploration results.
Forward-looking statements are subject to numerous risks and uncertainties that may cause actual
results to differ materially, including risks related to: permitting and regulatory review timelines;
community and access matters; the availability of contractors, equipment and services; weather and
logistical constraints; exploration and drilling risks; geological complexity and continuity; the reliability
and interpretation of historical data and third-party datasets; geophysical inversion and target
interpretation risk; sampling and assay variability; cost escalation; and commodity price volatility, as
well as other risk factors described in Excellon's public disclosure, including its Annual Information
Form dated June 30, 2025, and subsequent continuous disclosure documents.
The forward-looking statements herein are expressly qualified by these cautionary statements and by
the cautionary statements in the Company's continuous disclosure. Forward-looking statements are
made as of the date of this news release, and the Company disclaims any obligation to update or
revise them, whether as a result of new information, future events or otherwise, except as required by
applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/280026