Excellon Drills Broad Mineralized Zones and Expands Drill Program ON Northern Fresnillo Silver Trend
www.excellonresources.com
EXCELLON DRILLS BROAD MINERALIZED ZONES AND EXPANDS DRILL PROGRAM
ON NORTHERN FRESNILLO SILVER TREND
Toronto, Ontario – October 2, 2018 – Excellon Resources Inc. (TSX:EXN and EXN.WT.A; OTC:EXLLF)
("Excellon" or the “Company") is pleased to report initial exploration results from the Miguel Auza
project in the state of Zacatecas, Mexico. This program is the first drilling at Miguel Auza since 2010
and follows an extensive, year-long prospecting and mapping program which has identified several high
priority targets.
Highlights
• Initial drilling confirms pervasive epithermal mineralization at Miguel Auza on multiple
targets that is open along strike and at depth
• Anomalous mineralization intersected in first seven diamond drill holes on Lechuzas vein-set
including 201 g/t Ag, 4.3% Pb, 5.4% Zn and 0.3 g/t Au or 683 g/t silver equivalent (“AgEq”)
over 2.4 metres within broader interval of 56 g/t Ag, 1.2% Pb, 1.4% Zn and 0.1 g/t Au or 183
g/t AgEq over 16.7 metres in EX18MAZ-236
• Large low-grade gold and silver footprint intersected in drilling on El Cobre Vein
• Drill program expanded to 6,000 metres to follow-up on Lechuzas vein-set, with drilling
ongoing on El Cobre and Abejas veins and planned for Loma de las Minas and Lomo de Los
Gatos
“The goal of initial drilling at Miguel Auza is to test structures at depth and along strike for their
potential to host economic mineralization. These results confirm proof of concept,” stated Ben
Pullinger, Senior Vice President Geology. “We have seen grade and width improve at depth at Lechuzas
and high-level epithermal textures and anomalous precious metals at Lechuzas, El Cobre and Abejas.
Our expanded drill program will focus further understanding the greater system around Miguel Auza.”
Exploration Results (referenced in Figure 1)
Hole ID
Dip Azi Interval Interval Ag Pb Zn Au AgEq(2)
Vein
(o) (o) From To (m)(1) g/t % % g/t g/t
EX18MAZ-231 60 314 172.6 173.3 0.7 70 1.1 1.2 0.2 192 Lechuzas
EX18MAZ-232 67 314 153.0 154.2 1.2 49 0.7 1.3 0.4 176 Lechuzas
and 186.7 189.5 2.8 50 0.9 0.7 0.1 133
EX18MAZ-233 75 314 234.9 248.7 13.8 58 1.2 1.8 0.1 205 Lechuzas
including 239.0 247.6 8.6 82 1.7 2.6 0.1 297
including 243.4 247.1 3.6 121 2.3 3.6 0.1 410
EX18MAZ-234 60 314 256.3 274.1 17.8 20 0.3 0.4 0.1 61 Lechuzas
including 259.5 261.2 1.7 63 1.9 1.8 0.2 218
EX18MAZ-235 59 314 269.5 286.5 17.0 36 0.9 0.6 0.1 119 Carmen
including 282.8 284.3 1.5 167 3.1 1.9 0.9 470
and 578.5 587.0 8.5 35 0.2 1.2 0.4 131 Lechuzas
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Hole ID
Dip Azi Interval Interval Ag Pb Zn Au AgEq(2)
Vein
(o) (o) From To (m)(1) g/t % % g/t g/t
EX18MAZ-236 75 314 159.2 160.7 1.5 92 1.4 1.1 0.1 219 Carmen
and 250.7 267.3 16.7 56 1.2 1.4 0.1 183 Lechuzas
including 262.1 264.5 2.4 201 4.3 5.4 0.3 683
EX18MAZ-237 50 210 158.3 158.7 0.4 145 0.2 0.1 0.1 163 El Cobre
EX18MAZ-238 75 210 128.4 153.7 25.3 0.4 0.0 0.0 0.1 9 El Cobre
EX18MAZ-239 75 210 NSR El Cobre
EX18MAZ-240 80 210 NSR El Cobre
(1) All intersections reported as core length.
(2) AgEq drill results assumes $1,200 Au, $15.00 Ag, $0.95 Pb and $1.10 Zn with 100% metallurgical recovery.
The objective of the initial drill program is to drill test targets developed from surface mapping, IP
surveying and structural work since mid-2017 at El Cobre, Abejas, Lechuzas-Carmen and Lomo de las
Minas (referenced in Figure 2 – Miguel Auza Targets). These first holes have intersected broad zones of
anomalous, gold, silver and base metal values including discre te higher-grade zones of carbonate
veining, bladed calcite and silica with associated galena, sphalerite and pyrite. Excellon is expanding the
program to follow up on these initial results and to test other targets. Additionally, the Company has
commenced a fluid inclusion study to better define the temperature regimes associated with these
structures for more accurate drill targeting.
Mineralization at Miguel Auza is hosted in epithermal quartz veins typical of the Fresnillo silver belt,
most proximally at Hecla Mining Company’s San Sebastián Mine, 42 kilometres to the northwest and
along strike from Miguel Auza. Mining was historically undertaken on the Calvario Vein at Miguel Auza
and via multiple shafts along the structures being tested as part of this program.
The Miguel Auza property also includes a mineral processing facility, which the Company utilizes to
process ore from its Platosa Mine in the state of Durango, Mexico. The mineral processing facility
currently has capacity of 800 tonnes per day (“tpd”), with a 650 tpd ball mill in operation and a second,
150 tpd ball mill on standby, with opportunities available for further expansion. Ample capacity remains
available to process increased Platosa Mine production and potential new discoveries at either Platosa
or Miguel Auza, along with ore from San Sebastián expected to enter bulk sample testing pursuant to a
toll milling arrangement later this year.
Qualified Person
Mr. Ben Pullinger, P. Geo., Senior Vice President Geology, 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
exploration 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 100%-owned Miguel
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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
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 future results
of operations, performance and achievements of the Company, including potential property acquisitions, 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 quant ity 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, 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. Al l 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 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.
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Figure 1: Exploration Results
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Figure 2: Miguel Auza Targets