Excellon Announces Receipt of Statement of Claim
Excellon Announces Receipt of Statement of
Claim
Toronto, Ontario--(Newsfile Corp. - April 21, 2025) -
Excellon Resources Inc. (TSX: EXN) (FSE:
E4X2)
("
Excellon
" or the "
Company
") announces that it has received a statement of claim in which it
has been named as a defendant in an action commenced by Javier Martinez Lomas in the Ontario
Superior Court of Justice, related to prior litigation against a former indirect Mexican subsidiary of
Excellon (
link
to Excellon news release from April 2023). The plaintiff is seeking, among other things,
damages in the amount of approximately US$23 million. The claim arises from a prior dispute in Mexico
involving a former subsidiary of Excellon that operated independently under Mexican law. The matter was
fully litigated in the Mexican courts, where due process was followed, and the matter was believed to be
resolved. The Company believes that the lawsuit is an opportunistic attempt to relitigate a dispute that
has already been addressed under Mexican law. Excellon believes that the claims in the action are
without merit, and will take all appropriate steps to defend the action and dismiss the claim.
About Excellon
Excellon's vision is to realize opportunities through the acquisition of advanced development or
producing assets with further potential to gain from an experienced management team for the benefit of
our employees, communities and shareholders. Excellon is in the process of acquiring the past-
producing Mallay Silver Mine and Tres Cerros Gold-Silver Exploration Project in Peru. The Company is
also advancing a portfolio of gold, silver and base metals assets including Kilgore, an advanced gold
exploration project in Idaho; and Silver City, a high-grade epithermal silver district in Saxony, Germany
with 750 years of mining history and little modern exploration.
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 defence of the Claim and the results thereof; 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 ability of the Company to successfully defend the Claim, 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/249136