Excellon Announces Q2 2018 Production Results
www.excellonresources.com
EXCELLON ANNOUNCES Q2 2018 PRODUCTION RESULTS
Toronto, Ontario – July 12, 2018 – Excellon Resources Inc. (TSX:EXN, EXN.WT and EXN.WT.A; OTC:EXLLF)
("Excellon" or the “Company") is pleased to announce second quarter 2018 production results from the
Platosa Mine in Durango, Mexico.
Q2 2018 Production (compared to Q2 2017)
• Silver equivalent (“AgEq”) production increased 120% to 637,205 AgEq oz
(Q2 2017 – 289,566 AgEq oz)
o Silver production increased 73% to 277,701 oz (Q2 2017 – 160,820 oz)
o Lead production increased 117% to 1.8 million lb (Q2 2017 – 0.9 million lb)
o Zinc production increased 152% to 2.8 million lb (Q2 2017 – 1.1 million lb)
• All-in sustaining cost (“AISC”) of less than $10 per payable silver ounce achieved for the quarter
“We realized further improvements at the Platosa Mine and Miguel Auza concentrator during the second
quarter, including the most tonnes processed at Miguel Auza since the Company acquired the mill in
2009,” stated Brendan Cahill, President and CEO. “We also achieved AISC of less than $10 per payable
silver ounce for the quarter. While there is more work to do to increase production, we’re making strong
progress. Most importantly, we now have a stable, cash-flowing operation at Platosa that provides a
platform for our greater exploration and growth goals.”
Productions Results
Q2 2018 Q2 2017 6-mos 2018 6-mos 2017
Tonnes Mined 16,146 10,840 29,930 22,904
Tonnes of ore processed 16,580 11,051 29,601 22,087
Tonnes of historical stockpile processed 6,291 2,826 12,155 3,723
Tonnes Milled 22,872 13,877 41,756 25,810
Ore grades
Silver (g/t) 507 451 478 390
Lead (%) 5.67 4.00 5.27 3.51
Zinc (%) 8.38 5.29 8.32 4.82
Historical stockpile grades
Silver (g/t) 172 171 174 172
Lead (%) 1.76 1.46 1.68 1.40
Zinc (%) 2.38 1.46 2.39 1.40
Blended head grades
Silver (g/t) 415 394 390 358
Lead (%) 4.59 3.48 4.23 3.21
Zinc (%) 6.73 4.51 6.59 4.33
Recoveries
Silver (%) 89.6 89.8 89.2 89.8
Lead (%) 80.2 80.4 80.8 80.8
Zinc (%) 82.2 80.7 82.9 81.3
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Q2 2018 Q2 2017 6-mos 2018 6-mos 2017
Metal Production*
Silver (oz) 277,701 160,820 472,163 268,938
Lead (lb) 1,847,967 850,111 3,123,385 1,460,144
Zinc (lb) 2,810,564 1,116,367 5,064,014 1,989,343
AgEq (oz)** 637,205 289,566 1,119,284 494,880
* Subject to adjustment following settlement with concentrate purchaser.
** AgEq ounces established using average realized metal prices during the period indicated applied to the recovered metal content of
concentrates.
Production during Q2 2018 improved as multiple, high-grade ore faces were accessed in the Rodilla, Pierna
and 623 mantos. In June, two bolting units were commissioned underground to expedite ground support
installation as ground conditions have been and remain, at this point, a primary area of focus to support
production increases.
During the quarter, the Company continued to process low-grade historical stockpiles and sump material,
with minimal associated mining cost. This mineralized material is blended with mined ore to improve
payability and recoveries (particularly for lead and zinc), as well as being cash flow positive.
The Company is finalizing an updated mineral resource estimate and technical report, which has taken
longer than originally anticipated. The technical report is an ordinary course update to the last mineral
resource estimate as of December 31, 2014. Drilling recommenced at Platosa in mid -2016 and this
updated mineral resource estimate will include drilling up to March 31, 2018. As referenced in a press
release dated May 31, 2018, the Company identified additional optimizations to the resource model and
mine plan, which have now been incorporated.
Qualified Persons
Mr. Denis Flood, P. Eng., Vice-President Technical Services, 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 in Durango has been Mexico’s highest-grade silver mine since
production commenced in 2005. The Company is focused on optimizing the Platosa Mine’s cost and
production profile, discovering further high-grade silver and carbonate replacement deposit (CRD)
mineralization on the Platosa Project and epithermal silver mineralization on the Miguel Auza Property
and capitalizing on the opportunity in current market conditions to acquire undervalued projects in the
Americas.
Additional details on the La Platosa Mine and the rest of Excellon’s exploration properties are available at
www.excellonresources.com.
For Further Information, Please Contact:
Excellon Resources Inc.
Brendan Cahill, President & CEO or
Nisha Hasan, Vice President, Investor Relations
(416) 364-1130
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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 results of
operations, performance and achievements of the Company, including potential property acqui sitions, 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 revenues. 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 expressions, or are those,
which, by their nature, refer to future 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 [particularly silver], the Company's inability to obtain any necessary 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 strategies. 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 Company's
mineral properties, and particularly the July 9, 2015 NI 43-101-compliant technical report prepared by Roscoe Postle Associates 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.