Excellon Announces Closing of Debt Settlement
Excellon Announces Closing of Debt
Settlement
Toronto, Ontario--(Newsfile Corp. - September 18, 2025) -
Excellon Resources Inc. (TSXV: EXN)
(OTC Pink: EXNRF) (FSE: E4X2)
("
Excellon
" or the "
Company
") is pleased to announce that, further
to its news release dated July 3, 2025, it has closed a debt settlement transaction (the "
Debt
Settlement
") with an arm's length creditor of the Company pursuant to which the Company settled
approximately C$546,000 of indebtedness by issuing 2,427,917 common shares of the Company (the
"
Common Shares
") at a deemed price of C$0.225 per Common Share.
The Debt Settlement is subject to final acceptance of the TSX Venture Exchange. The securities issued
pursuant to the Debt Settlement are subject to a four-month hold period under applicable Canadian
securities laws which will expire on January 18, 2026.
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 the Tres Cerros
Gold/Silver Exploration Property in Peru; Kilgore, an advanced gold project in Idaho; and Silver City, a
high-grade epithermal silver district in Saxony, Germany, 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
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" (collectively, "
forward-looking statements
") within the meaning of applicable Canadian
and United States securities legislation. Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as: "actively", "advance", "anticipated", "assess",
"believe", "cause", "commence", "completion", "conditions", "consideration", "continues",
"development", "due course", "expectation", "exploration", "extend", "extension", "flexibility",
"focused", "forward", "further", "future", "if", "implement", "liquidity", "looking", "maturity", "may",
"negotiations", "occur", "opportunities", "options", "outcome", "outstanding", "potential", "providing",
"reach", "restructuring", "risk", "subject to", "to be", "update", "vision", "waive", "when", "will", and
"would", or variations of such words, and similar such words, expressions or statements that certain
actions, events or results can, could, may, should, to, will, would (or not) be achieved, occur, provide,
result, complete or support in the future or which, by their nature, refer to future events. In some cases,
forward-looking information may be stated in the present tense, such as in respect of current matters
that may be continuing, or that may have a future impact or effect.
Forward-looking statements include statements regarding the timing and ability of the Company to
receive necessary regulatory approvals, including the final acceptance of the Debt Settlement from
the TSX Venture Exchange; and the Company's objectives, goals and future plans and strategies.
Although the Company believes that such statements are reasonable, it can give no assurance that
such expectations will prove to be correct, and any forward-looking statements by the Company are
not guarantees of future actions, results or performance. Forward-looking statements are based on
assumptions, estimates, expectations and opinions, which are considered reasonable and represent
best judgment based on available facts, as of the date such statements are made. If such
assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results
may be materially different than expressed or implied in the forward-looking statements. Forward-
looking statements are inherently subject to known and unknown risks, uncertainties, contingencies
and other factors which may cause the actual results or performance of the Company to be materially
different from any future results or performance expressed or implied by the forward-looking
statements. Such risks, uncertainties, contingencies and other factors include, among others, the
inability of the Company to receive necessary regulatory approvals; the "Risk Factors" in the
Company's annual information form dated March 31, 2025 (the "
2025 AIF
"), and the risks,
uncertainties, contingencies and other factors identified in the Company's Management's Discussion
and Analysis, and accompanying financial statements, for the year ended December 31, 2024, and
the Company's other applicable public disclosure (collectively, "
Company Disclosure
"). The
foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should
consult the more complete discussion of the Company's business, financial condition and prospects
that is provided in the 2025 AIF and the other Company Disclosure. The forward-looking statements
referenced or contained in this news release are expressly qualified by these Cautionary Statements
as well as the Cautionary Statements in the other Company Disclosure. Forward-looking statements
contained herein are made as of the date of this news release (or as otherwise expressly specified)
and the Company disclaims any obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/266966