Excellon Announces Q2 2019 Production Results
www.excellonresources.com
EXCELLON ANNOUNCES Q2 2019 PRODUCTION RESULTS
Toronto, Ontario – July 23, 2019 – Excellon Resources Inc. (TSX:EXN and OTC:EXLLF) (“Excellon” or the
“Company”) is pleased to announce second quarter 2019 production results from the Platosa Mine in
Durango, Mexico.
Q2 2019 Production (compared to Q2 2018)
• Silver equivalent (“AgEq”) production of 582,937 oz (Q2 2018 – 637,206 AgEq oz)
o Silver production of 276,805 oz (Q2 2018 – 277,701 oz)
o Lead production of 1.8 million lb (Q2 2018 – 1.8 million lb)
o Zinc production of 2.5 million lb (Q2 2018 – 2.8 million lb)
• Mined tonnage in H1 2019 30% higher than H1 2018
“We had another strong quarter of production despite significantly lower metal prices during the period
– but it’s exciting to see the rebound in precious metal prices, particularly silver, in recent weeks,” stated
Brendan Cahill, President and Chief Executive Officer. “Our focus on reducing dilution continued to deliver
results with improved ore grades and increased metal production with further progress ongoing at the
mine and mill. As indicated previously, we ended Q1 with a significant stockpile of fresh ore and
concentrate. As a result, sales and revenues from the deferred material from Q1 will be reflected in our
Q2 financial results.”
Production Results
Q2 2019 Q2 2018 6-mos 2019 6-mos 2018
Tonnes Mined 18,717 16,146 38,801 29,930
Tonnes of ore processed 19,964 16,580 36,733 29,601
Tonnes of historical stockpile processed - 6,291 1,450 12,155
Tonnes Milled 19,964 22,872 38,183 41,756
Ore grades
Silver (g/t) 514 507 523 478
Lead (%) 4.97 5.67 4.99 5.27
Zinc (%) 7.40 8.38 7.67 8.32
Historical stockpile grades
Silver (g/t) - 172 123 174
Lead (%) - 1.76 1.22 1.68
Zinc (%) - 2.38 1.44 2.39
Blended head grades
Silver (g/t) - 415 508 390
Lead (%) - 4.59 4.85 4.23
Zinc (%) - 6.73 7.44 6.59
Recoveries
Silver (%) 90.6 89.6 90.2 89.2
Lead (%) 83.6 80.2 79.5 80.8
Zinc (%) 79.6 82.2 78.9 82.9
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Q2 2019 Q2 2018 6-mos 2019 6-mos 2018
Metal Production*
Silver (oz) 276,805 277,701 537,249 472,163
Lead (lb) 1,763,316 1,847,967 3,139,740 3,123,385
Zinc (lb) 2,499,403 2,810,564 4,709,028 5,064,014
AgEq (oz)** 582,937 637,205 1,105,198 1,119,284
Average Realized Prices
Silver ($) 14.93 16.56 14.95 16.54
Lead ($) 0.85 1.08 0.86 1.08
Zinc ($) 1.23 1.41 1.25 1.42
* 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.
During Q2 2019, the operation accessed multiple ore faces in the Rodilla, Pierna, 623 and Guadalupe South
mantos. Operational efficiencies implemented in previous quarters continued to deliver results with lower
dilution, higher grades and steady production rates. Development has progressed towards the next
production horizon in levels 916 in Manto 623 and 913 in Manto Pierna.
Upgrades at the Miguel Auza processing facility continued during the quarter with modifications impacting
recoveries slightly for zinc, though recoveries are expected to improve in Q3.
The Company expects to release second quarter financial results at market close on August 1, 2019.
Qualified Persons
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 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 (CRD) 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 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, the Company's inability to obtain any necessary permits, co nsents 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 filing s 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 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.