Excellon Announces 2019 Production Results
www.excellonresources.com
EXCELLON ANNOUNCES 2019 PRODUCTION RESULTS
Toronto, Ontario – January 28, 20 20 – Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and
FRA:E4X1) ("Excellon" or the “Company") is pleased to announce fourth quarter and annual 20 19
production results from the Platosa Mine in Durango, Mexico.
Highlights
• 2019 Production (compared to 2018)
o Silver equivalent (“AgEq”) production increased 4% to 2.0 million oz
(2018 – 1.9 million AgEq oz)
o Silver production increased 15% to 1.0 million oz (2018 – 917,714 oz)
o Lead production increased 13% to 6.1 million lb (2018 – 5.4 million lb)
o Zinc production increased 7% to 8.4 million lb (2018 – 7.9 million lb)
• Q4 2019 Production (compared to Q4 2018)
o AgEq production decreased 8% to 469,707 oz (Q4 2018 – 509,043 AgEq oz)
o Silver production decreased 5% to 259,282 oz (Q4 2018 – 274,324 oz)
o Lead production increased 13% to 1.7 million lb (Q4 2018 – 1.5 million lb)
o Zinc production increased 13% to 2.1 million lb (Q4 2018 – 1.8 million lb)
“We mined a record 74,876 tonnes from Platosa in 2019, the most in our 15-year operating history,” stated
Brendan Cahill, President and CEO. “At Miguel Auza, we processed record tonnage of 89,478 tonnes for
the year and 26,226 tonnes for Q4 from Platosa and Hecla’s San Sebastian Mine, demonstrating continued
scalability in the milling operation . During the fourth quarter, flow sheet upgrades resulted in improved
silver recoveries of over 91.7%. We expect zinc recoveries to further improve with ongoing upgrades.”
Production Results
Q4 2019* Q4 2018 2019* 2018
Tonnes Mined from Platosa 19,622 16,570 74,876 57,475
Ore processed (t) 19,828 16,132 73,797 56,874
Historical stockpile processed (t) - 5,209 1,450 24,130
Platosa ore processed (t) 19,828 21,341 75,247 81,004
Ore grades
Silver (g/t) 435 556 497 488
Lead (%) 4.84 4.90 4.82 4.87
Zinc (%) 6.39 6.07 6.93 6.90
Historical stockpile grades
Silver (g/t) - 152 123 163
Lead (%) - 1.49 1.22 1.55
Zinc (%) - 1.57 1.44 1.95
Blended head grades
Silver (g/t) - 458 490 391
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Q4 2019* Q4 2018 2019* 2018
Lead (%) - 4.07 4.75 3.88
Zinc (%) - 4.97 6.82 5.42
Recoveries
Silver (%) 91.7 89.7 89.9 89.2
Lead (%) 80.2 81.2 79.2 79.4
Zinc (%) 76.5 79.4 77.7 80.8
Metal Production*
Silver (oz) 259,282 274,324 1,054,029 917,714
Lead (lb) 1,690,610 1,498,851 6,134,888 5,446,218
Zinc (lb) 2,062,018 1,824,406 8,425,221 7,894,186
AgEq (oz)** 469,707 509,043 2,002,036 1,929,092
Average Realized Prices
Silver $17.12 $14.74 $16.07 $15.37
Lead $0.87 $0.89 $0.88 $0.98
Zinc $1.04 $1.17 $1.12 $1.28
San Sebastián ore processed (t) 6,398 - 14,231 -
* Subject to adjustment following settlement with concentrate purchaser, 2019 tonnes mined in DMT.
** AgEq ounces established using average realized metal prices during the period indicated applied to the recovered metal content of
concentrates.
Production during Q4 2019 accessed multiple ore faces in the Rodilla, 623, Guadalupe and Pierna mantos.
Lower silver production resulted from grade variability in one of the main production stopes. Additionally,
zinc recoveries remained relatively stable compared to Q3 2019, as efforts to optimize and stabilize mill
performance continued.
Qualified Persons
Jeremy Ouellette, P. Eng., has acted as the Qualified Person, as defined in NI 43 -101, with respect to the
disclosure of the scientific and technical information relating to production results contained in this press
release.
About Excellon
Excellon’s 100% -owned Platosa Mine has been Mexico’s highest -grade silver mine since production
commenced in 2005. The Company is focused on optimizing Platosa’s cost and production profile,
discovering further high -grade silver and carbonate replacement deposit mineralization on the 21,000 -
hectare Platosa Project and epithermal silver mineralization on the 100% -owned 45,000 -hectare
Evolución Property, and capitalizing on current market conditions by acquiring undervalued projects. The
Company also holds an option on the 164 km 2 Silver City Project in Saxony, Germany, a high -grade
epithermal silver district with 750 years of mining history and no modern exploration.
Additional details on Excellon’s properties are available at www.excellonresources.com.
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For Further Information, Please Contact:
Excellon Resources Inc.
Brendan Cahill, President & Chief Executive Officer or
Nisha Hasan, Vice President, Investor Relations
(416) 364-1130
www.excellonresources.com
Forward-Looking Statements
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release,
which has been prepared by management. This press release contains forward -looking statements within the meaning of Section 27A of the
Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the fut ure r esults of
operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of
proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production
rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating rev enues. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar ex pressions, or are those,
which, by their nature, refer to fut ure events. The Company cautions investors that any forward -looking statements by the Company are not
guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant
downward variations in the market price of any minerals produced, the Company's inability to obtain any necessa ry permits, consents or
authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise
the necessary capital or to be fully able to implement its business strategie s. All of the Company's public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Comp any's mineral
properties, and particularly the September 7, 2018 NI 43-101 technical report prepared by SRK Consulting (Canada) Inc. with respect to the Platosa
Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.