Excellon Delivers Strong Production ON Restart
www.excellonresources.com
EXCELLON DELIVERS STRONG PRODUCTION ON RESTART
Toronto, Ontario – September 9, 2020 – Excellon Resources Inc. (TSX:EXN and OTC:EXLLF) (“Excellon” or
the “Company”) is pleased to provide an operations update following the resumption of mining and
milling activities at its Mexican operations in mid-June 2020.
“We realized strong production in July after restarting the Platosa Mine in mid- June and that trend
continued through August,” stated Brendan Cahill, President & CEO. “The cost reduction measures we
implemented in Q2 are delivering results, even prior to the pending switch to a private electricity supplier.
Underground exploration has resumed at Platosa and we are about to resume surface drilling on potential
extensions to the Platosa resource and the Jaboncillo and PDN targets north of the mine. With silver prices
at 10 year highs, we expect to have positive cashflow from our Platosa operation going forward.”
July 2020 Production Results
Production in Dry Metric Tonnes (DMT) July 2020
Tonnes Mined from Platosa 7,044
Tonnes Processed* 7,408
Ore Grades
Silver (g/t) 528
Lead (%) 5.85
Zinc (%) 7.66
Recoveries
Silver (%) 92.4
Lead (%) 85.7
Zinc (%) 77.6
Metal Production**
Silver (oz) 116,324
Lead (lb) 972,066
Zinc (lb) 818,730
AgEq (oz)** 198,458
Average July 2020 Commodity Prices
Silver ($) 20.42
Lead ($) 0.82
Zinc ($) 0.98
* Processed tonnes includes June 2020 stockpile
** Subject to final settlement prices and assays with concentrate
purchaser/AgEq ounces calculated using average July 2020 metal prices
Cost reduction measures at Platosa included material reductions to the workforce, changes to shift
schedules and mining methods , and the renegotiation of treatment charges on zinc concentrates. The
changes to shift schedul es resulted in a more productive operation despite reductions in the workforce;
as a result, the Company continues to benefit from lower operating costs and higher commodity prices .
The shift to a private electricity provider is expected to be completed in t he third quarter, with further
reductions to operating costs expected in Q4.
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COVID-19 Mitigation and Response Plans
On the restart of operations, following the government-mandated suspension of non-essential business
activities in Q2 , the Company provided two days of safety and COVID -19 exposure prevention training,
reorganized the workforce and implemented more efficient work schedules and various ventilation,
mining method and other business improvements. COVID-19 prevention, hygiene and safety measures,
health screening, travel restrictions, contact tracing, testing and quarantine protocols are in place and
have so far proven effective in protecting the workforce from confirmed COVID -19 cases that originated
from community spread.
To date there has been no material impact to production or shipment of concentrate from any of the
Company’s operations as a result of COVID -19. Additionally, there has been no significant disruption to
the supply chain of the Company’s operations. Excellon continues to monitor and implement business
continuity measures to mitigate and minimize to the extent possible any potenti al impacts of the
pandemic that might emerge in our operations, procurement and commercial activities.
About Excellon
Excellon’s vision is to create wealth by realizing strategic opportunities through discipline and innovation
for the benefit of our employees, communities and shareholders. The Company is advancing a precious
metals growth pipeline that includes: Platosa, Mexico’s highest -grade silver mine since production
commenced in 2005; Kilgore, a high quality gold development project in Idaho with strong economics and
significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver
district in Saxony, Germany with 750 years of mining history and no modern exploration. The Company
also aims to continue capitalizing on current market conditions by acquiring undervalued projects.
Additional details on Excellon’s properties are available at www.excellonresources.com.
For Further Information, Please Contact:
Excellon Resources Inc.
Brendan Cahill, President & Chief Executive Officer or
Anna Ladd-Kruger, Chief Financial Officer & VP Corporate Development
(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 meani ng 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, pro posed 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 correc t. 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 stat ements 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 Unite d States.