Excellon Further Expands Mineralization at Evolución and Provides Exploration Update
www.excellonresources.com
EXCELLON FURTHER EXPANDS MINERALIZATION AT EVOLUCIÓN
AND PROVIDES EXPLORATION UPDATE
Toronto, Ontario – February 18, 2020 – Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1)
("Excellon" or the “Company") is pleased to provide an exploration update on Evolución, Platosa and Silver City.
Highlights
Evolución
• Continued expansion of the Lechuzas zone along strike and down dip;
• Broad intersections of continuous silver, lead and zinc mineralization, including high grade
intersections over narrower widths:
• 103 g/t AgEq (27 g/t Ag, 0.8% Pb, 1.1% Zn, 0.1 g/t Au) over 18.7 metres in EX19MAZ -
265, including 416 g/t AgEq (105 g/t Ag, 3.5% Pb, 4.2% Zn, 0.3 g/t Au) over 2.0 metres
and 213 g/t AgEq (53 g/t Ag, 1.4% Pb, 2.5% Zn, 0.1 g/t Au) over 3.0 metres;
• 779 g/t AgEq (290 g/t Ag, 6.9% Pb, 5.9% Zn, 0.2 g/t Au) over 1.5 metres in EX19MAZ -
272, including 1,111 g/t AgEq (474 g/t Ag, 10.1% Pb, 6.9% Zn, 0.2 g/t Au) over 0.7 metres
and 244 g/t AgEq ( 51 g/t Ag, 1.9% Pb, 2.9% Zn, 0.1 g/t Au) over 4.5 metres, including
483 g/t AgEq (104 g/t Ag, 3.9% Pb, 5.7% Zn, 0.2 g/t Au) over 2.0 metres; and
• 172 g/t AgEq (55 g/t Ag, 1.1% Pb, 1.9% Zn) over 3.3 metres in EX19MAZ -274, including
922 g/t AgEq (280 g/t Ag, 5.9% Pb, 10.5% Zn, 0.1 g/t Au) over 0.5 metres.
Platosa
• Further expansion of the NE-1S Manto from surface drilling with high -grade intersections
including:
• 1,757 g/t AgEq (1,178 g/t Ag, 6. 7% Pb, 8.4% Zn, 0.2 g/t Au) over 6. 6 metres in EX19LP-
1156, including 2,117 g/t AgEq (1,462 g/t Ag, 7. 5% Pb, 9.6% Zn, 0.1 g/t Au) over
4.8 metres;
• Discovery of a large hydrothermal system 11 kilometres from the Platosa Mine at the Jaboncillo
target carrying anomalous precious and base metals , suggestive of the peripheral part of a
carbonate replacement deposit (“CRD”) system;
• Resumption of underground drilling for resource expansion and definition.
Silver City
• Priority targets identified following completion of an induced polarization (IP) survey;
• Fluid inclusion studies on historical samples confirm the potential for high-grade epithermal
mineralization within a 450-metre vertical window; and
• Permitting documentation submitted to regulators in mid -January, with diamond d rilling
expected to commence in the first half of 2020.
“Drilling at Evolución in 2019 continued to hit broad zones of mineralization on the Lechuzas target,” stated Ben
Pullinger, Senior Vice President Geology. “ Based on these results , w e are now assessing the opportunity to
advance to an initial mineral resource estimate. We have also made a positive start on the Jaboncillo target ,
approximately 11 kilometres northwest of the Platosa Mine . This target was identified by regional geophysics
and prospecting and has an alteration footprint larger than that at Platosa. Our initial drilling intersected a large
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hydrothermal system with anomalous precious and base metals that may represent the periphery of a CRD
system. Follow-up is required.”
Mr. Pullinger continued, “We also look forward to commencing drilling at our newly optioned Silver City Project
in Q2, as initial permitting is progressing well. We continue to refine drill targets and improve our understanding
of the regional opportunity. The Silver City area was mined for high -grade silver for 750 years until the late
1800s, yet has never seen modern exploration for precious metals.”
Evolución
The Evolución Property totals 45,000 hectares (450 km 2) and 35 kilometres of strike in one of the world’s
premier silver mining districts.
Drilling on the Lechuzas structure at Evolución targeted extensions of mineralization encountered in previous
drilling in EX18MAZ-236, EX18MAZ-235, EX18MAZ -251, EX18MAZ -253 and EX18MAZ -254 (see press release
dated March 14, 2019) . The program extended mineralization along strike an additional 250 metres to 850
metres and down dip to approximately 750 metres. Mineralization remains open along strike and down dip. Infill
drilling also confirmed the presence of mineralization and the associated geological model.
In addition to this drilling, the Company has also commenced reassaying, recategorizing and relogging of
mineralization associated with the Calvario vein and other secondary strutures. Pending the results of this
program, the Company intends to incorporate these and drilling on Lechuzas into an updated mineral resource
estimate and associated technical report.
The Lechuzas structure is hosted within the Caracol Formation, which hosts the most significant deposits on the
Fresnillo trend. Precious and base metal mineralization is associated with structural features featuring carbonate
and quartz veining that crosscut the host rocks. Pyrite, sphalerite, and galena are the most commonly observed
sulphide minerals.
Other Targets at Evolución
Several other targets at Evolución were tested as part of this program. Drilling at the Abejas target encountered
mineralization associated with mineralization within silica and quartz veining associated with an epithermal
system. Textures observed in veining are indicative of the boiling of fluids seen at the top of the productive zone
for precious metals in these systems.
Initial drilling at Loma de las Minas approximately 3.5 kilometres north of Miguel Auza encountered encouraging
results at shallow depth s intersecting 141 g/t AgEq (7 5 g/t Ag, 1. 8% Pb, 0. 2% Zn, 0. 1 g/t Au) over 2.9 metres.
Further work is planned for this target in 2020.
The Laika target, approximately 22 kilometres east of Miguel Auza, was discovered by regional prospecting and
mapping which identified a large area with quartz float within a region highlighted by long and short-wave Aster
imagery. Two holes were drilled (1,095 metres) and intersected a large argillic-altered zone close to the contact
of a series of rhyolitic volcanic rocks overlying the Caracol Formation. Field work at Laika and surrounding areas
is planned for the first quarter of 2020.
Mineralization on the Evolución Property is hosted by epithermal quartz veins typical of the Fresnillo silver trend.
Hecla Mining Company’s San Sebastián Mine is located 42 kilometres to the northwest and along strike from
Evolución. Mining in the Evolución area was historically undertaken on the Calvario Vein accessed by multiple
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shafts along the structures currently being tested as part of Excellon’s program. Compilation and 3D modelling
of historical level plans for Calvario along with the 2018 -2019 oriented core data defined a structural
extensional/dilatation zone. The Calvario structure remains open at depth with several historical holes showing
potentially economic values up to 400 metres below surface.
The Evoluión Property includes a mineral processing facility, which processes ore from Excellon’s Platosa Mine.
The mineral processing facility has capacity of 800 tonnes per day (“tpd”), with a 650 tpd ball mill in operation
and a 150 tpd ball mill on standby, with opportunities available for further expansion. Ample capac ity remains
available to process increased Platosa Mine production and potential new discoveries at either Platosa or Miguel
Auza, along with ore from San Sebastián under a toll milling arrangement that is currently in the bulk sample
testing phase.
Exploration Results
(See Figure 1: Evolución Project Exploration Results)
Hole ID
Dip Azi Interval Interval Ag Pb Zn Au AgEq(2)
Target
(o) (o) From To (m)(1) g/t % % g/t g/t
EX19MAZ-260 -69 113 346.90 351.53 4.6 58 0.0 0.0 0.0 63 Abejas
including 349.00 351.53 2.5 83 0.1 0.0 0.0 89
EX19MAZ-261 -45 90 38.97 45.51 2.9 75 1.8 0.2 0.0 141 LDLM
EX19MAZ-263 -60 314 428.59 434.13 5.5 28 0.7 0.4 0.1 73 Lechuzas
including 433.37 434.13 0.8 71 2.9 1.2 0.1 222
and 505.71 506.79 1.1 54 1.3 1.6 0.2 180
and 583.89 586.00 2.1 58 1.6 2.4 1.3 320
EX19MAZ-264 -67 314 411.8 412.42 0.6 196 4.0 3.8 0.2 508 Lechuzas
and 436.92 438.53 1.6 46 1.4 1.9 0.2 186
including 436.92 438.06 1.1 62 2.0 2.6 0.2 248
and 577.25 582.18 4.9 30 0.8 3.4 0.4 227
and 586.08 588.41 2.3 28 0.5 2.1 0.6 184
EX19MAZ-265 -63 314 153.07 171.72 18.7 27 0.8 1.1 0.1 103 Lechuzas
including 153.07 155.06 2.0 105 3.5 4.2 0.3 416
and
including
160.45 163.45 3.0 53 1.4 2.5 0.1 213
EX19MAZ-266 -54 314 75.97 84.46 8.5 43 0.5 0.6 0.1 88 Lechuzas
EX19MAZ-268 -50. 15 203.43 204.83 1.4 31 1.1 1.2 1.3 230 Lechuzas
including 204.00 204.24 0.3 57 1.9 4.4 3.2 575
and 400.45 400.80 0.4 100 3.7 3.7 0.1 379
and 555.25 586.50 31.3 10 0.2 1.0 0.1 64 Lechuzas
EX19MAZ-272 -71 315 345.43 346.90 1.5 290 6.9 5.9 0.2 779 Lechuzas
including 345.43 346.15 0.7 474 10.1 6.9 0.2 1,111
and 451.69 452.50 0.8 26 1.1 1.1 0.0 110
and 471.75 472.89 1.1 241 0.8 0.9 0.1 310
and 502.45 506.90 4.5 51 1.9 2.9 0.1 244
including 502.45 504.47 2.0 104 3.9 5.7 0.2 483
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Hole ID
Dip Azi Interval Interval Ag Pb Zn Au AgEq(2)
Target
(o) (o) From To (m)(1) g/t % % g/t g/t
EX19MAZ-273 -72 315 672.95 716.77 43.8 9 0.1 0.8 0.1 53 Lechuzas
including 682.70 710.90 28.2 12 0.2 1.1 0.1 68
and
including
694.33 696.30 2.0 25 0.3 2.6 0.2 158
and
including
706.48 707.40 0.9 24 0.1 3.7 0.0 184
and 722.75 727.80 5.1 20 0.6 1.2 0.1 93
including 725.16 727.10 1.9 36 1.1 1.9 0.1 154
EX19MAZ-274 -75 313 23.75 31.68 7.9 25 0.5 0.2 0.1 56 Lechuzas
and 58.50 62.59 4.1 38 0.8 0.7 0.1 102
including 59.41 60.85 1.4 60 1.5 1.3 0.2 180
and 106.73 110.00 3.3 55 1.1 1.9 0.0 172
including 108.00 108.54 0.5 280 5.9 10.5 0.1 922
and 120.65 135.92 15.3 24 0.5 0.7 0.1 74
including 124.66 128.92 4.3 43 1.1 1.4 0.1 144
and 175.10 177.00 1.9 26 0.7 0.5 0.2 87
(1) All intersections reported as core length.
(2) AgEq drill results assumes $1, 500 Au/Oz, $17.50 Ag/Oz, $0.85 Pb /lb and $1.05 Zn/lb with 100% metallurgical
recovery.
Platosa Project
Regional drilling at Platosa focused on the Jaboncillo target 11 kilometres to the north west of the Platosa Mine
within the Sierra Bermejillo. Twenty holes were completed and tested six targets over a strike length of
1,200 metres. All holes in this program intersected evidence of a large hydrothermal alteration system with ten
holes intersecting gossans and jasperoid . Additionally, large intersections of sulphide bearing breccias and
anomalous precious and base metals were intersected in other holes. These intersections are believed to be the
peripheral part of a CRD system.
EX19JN-008 intersected a pryritic gossan intersection of 13 metres including discrete intervals of anomalous
silver up to 15 g/t Ag and 0.1 % Zn with anomalous antimony, molybdenum and arsenic. The gossans and breccias
occur with calcite, celestite and clay s with an iron rich matrix. EX19JN -013 intersected a fifteen-metre thick
Jasperoid unit with anomalous silver (17 g/t) and anomalous barium and iron . EX19JN-013 also intersected a
pyritic breccia over nine metres showing up to 7.2% Fe. The breccia contains clasts of multiple lithologies and
pyrite within a black pyrite-clay matrix. Other holes intersected gypsum-pyrite breccias. These breccias include
host rock clast s within a gypsum matrix with fine pyrite along the contacts. Based on these initial results, the
Company intends to test additional targets in this area during 2020.
Drilling from surface proximal to the NE-1S Manto at the Platosa Mine continued to intersect high grade massive
sulphide mineralization over significant widths and suggests that the Platosa deposit remains open for
expansion. Results include:
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Hole ID
Dip Azi Interval Interval Ag Pb Zn Au AgEq(2)
Target
(o) (o) From To (m)(1) g/t % % g/t g/t
EX19LP1156 -74 210 357.8 364.4 6.6 1,178 6.7 8.4 0.1 1,757 NE-1S
including 358.2 363.0 4.8 1,462 7.5 9.6 0.1 2,117
EX19LP1158 -72 216 356 356.2 0.2 116 0.2 0.3 0.0 138 NE-1S
EX19LP1160 -75 200 376.3 367.4 0.2 288 2.6 3.2 0.0 506 NE-1S
In 2019, the Company concluded a comprehensive review of the Platosa Property land holdings and
subsequently filed to reduce its land package to 14,000 hectares from 21,000 hectares with reductions made in
areas of significant overburden and where geological work indicated little potential for further discoveries. The
reduction will result in significantly lower holding costs.
Additionally, two underground drill drifts are currently being developed at Platosa and drilling has commenced.
Underground drilling will target gaps between the Pierna, Rodilla and NE -1 mantos. The Company also aims to
expand the high grade Manto 623 following up on previous results including 1,450 g/t AgEq ov er 6.6 metres in
EX18UG437 and 3,574 g/t AgEq over 4.9 metres in EX18UG438. Underground drilling at Platosa has proven
effective at defining and expanding high grade mineralization ahead of production.
Silver City
The Silver City Project continues to advance, with an IP survey completed over two targets on the northern part
of the license. Three lines were completed over the Munzig target, an area of historical high-grade production,
with records indicating veins from 2 to 10 metres wide grading 1,000 g/t Ag. Two lines were completed over the
Steinberg target, which followed up on surface sampling that contained anomalous silver, arsenic and lead. High
resistivity and chargeability anomalies were detected at both targets and have been defined within prospective
settings that will be tested during initial drilling.
Fluid inclusion studies completed by the University of Freiberg on samples from historical mine workings covered
a strike length of approximately 15 kilometres of the main vein system. These studies confirmed systematic
vertical mineral zonation within the larger epithermal system and an expected vertical extent of the productive
zones of between 300 -400 metres. Compilation of historical repo rts, maps and images from the Fr eiberg
archives have allowed the Company to model historically mined areas, providing more detailed information on
targets ahead of drilling.
The Company has filed an operations plan with local regulators to permit an initial 1,500 -2,000 metre drill
program. This program is designed to test down -dip and lateral extensions of his torical mine workings and
new targets concealed below shallow overburden (see Figure 2: Silver City Targets). Permits are expected in
the coming months.
QA/QC
Drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited
to ISO/IEC 17025. The Company has a comprehensive QA/QC program, supervised by an independent Qualified
Person.
Qualified Person
Mr. Ben Pulli nger, P. Geo., Senior Vice President Geology, has acted as the Qualified Person, as defined in
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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 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 mineralization on the 14,000-hectare Platosa Project and
epithermal silver mineralization on the 100% -owned 45,000-hectare Evolución Property, and capitalizing on
current market condi tions by acquiring undervalued projects. The Company also holds an option on the
164 km2 Silver City Project in Saxony, Germany, a high -grade epithermal silver district with 750 years of mining
history and no modern exploration.
Additional details on the 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
Ben Pullinger, SVP Geology
(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 future results of oper ations, 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 mine ral recovery processes and
rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are re asonable,
it can give no assurance that such expectations will prove to be correct. Forward -looking statements are typically identi fied by words such as: believe,
expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to futur e 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 i nability to
obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its prop erties successfully or profitably, to
continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All o f the Company's public disclosure
filings may be accessed via www.sedar.com and readers are u rged 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 to be construed in any way as, an offer to buy or sell securities in the United States.
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Figure 1: Evolución Exploration Results
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Figure 2: Silver City Targets