Excellon is Drilling Kilgore
www.excellonresources.com
EXCELLON IS DRILLING KILGORE
Toronto, Ontario – July 25, 2022 – Excellon Resources Inc. (TSX:EXN; NYSE:EXN; FRA:E4X2) (“Excellon”
or the “Company”) is pleased to announce that is has begun a 5,000 metre diamond drilling program on
the Kilgore Project in Idaho, USA and to provide an update on 2022 exploration plans.
Highlights
• Initial 5,000 meter drill program underway on high-priority targets at Mine Ridge and Prospect
Ridge – following up on high -grade gold mineralization encountered in historic al drilling and
exploring beyond the resource envelope along strike and at depth
• Induced Polarization (IP) and Magnetotelluric (MT) surveys over 75 line kilometres planned to
image the deposit and all associated high-priority prospects
• Property-wide surface sampling focusing on remote sensing targets defined by Aster, Sentinel,
and Worldview-3 satellite data analysis
“We are strategically targeting zones with high-grade potential while looking to expand the resource and
further improve understan ding of the structural controls of high -grade mineralization at the Kilgore
deposit,” stated Jorge Ortega, Vice President Exploration. “Our progr am utilizes a multidisciplinary
approach to exploration through the use of oriented core drilling, subsurface imaging and surface
sampling techniques to realize the full potential of the deposit and project.”
2022 Exploration Program
Extensive core re-logging and resampling and 3D mode lling of historical results were completed in
preparation for the 2022 Kilgore exploration program . The reinterpreted data identified multiple high-
priority near-deposit drill targets (see Company’s press release dated March 10, 2022). The objectives of
ongoing drilling are to: (i) grow and increase the grade of the existing mineral resource, (ii) using oriented
core, define vertical to sub -vertical high -grade structures within the existing mineral resource and to
depth in the underlying Aspen formation and (iii) target geophysical anomalies defined from imminent IP
and MT surveys.
Surface exploration began earlier this season with soil orientation surveys completed over the Kilgore
deposit testing responses of Mobile Metal Ion, Spatiotemporal Geochemical Hydrocarbons, and ICP-MS
super trace methods. Results will build confidence in historical analysis and guide future soil sampling
campaigns toward discovering satellite deposits under cover. Claim-wide prospecting and mapping efforts
are underway focused on high -priority targets defined by Worldview-3, Aster, and Sentin el remote
sensing methods.
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The Kilgore Project
The Kilgore Project totals 6,788 hectares, 33 kilometres northeast of Dubois, Idaho, and hosts a caldera-
related, epithermal gold deposit. The property includes historical mine workings dating back to the early
1900s with further drilling in the 1980s that revealed the potential for mineralization well outside of the
existing resource area, with limited follow up to date.
Qualified Person
Mr. Jorge Ortega, P. Geo., Vice President Exploration, has acted as the Qualified Person, as defined in
NI 43-101, with respect to the disclosure of the scientific and technical information contained in this press
release.
Q2 2022 Financial Results
The Company expects to file Q2 2022 financial results prior to market open on July 28, 2022.
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
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metals growth pipeline that includes: Kilgore, an advanced gold exploration project in Idaho with strong
economics and significant growth and discovery potential; an option on Silver City, a high -grade
epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration;
and Platosa, a high-grade silver mine producing in Mexico since 2005, scheduled to wind-down in Q3 2022,
with an 11,000 hectare exploration package on Mexico’s carbonate replacement deposit (CRD) trend. The
Company is also actively seeking to capitalize on current market conditions by acquiring undervalued
projects in the Americas.
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
Jorge Ortega, Vice President Exploration
(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 mineral resource s
estimates, the future results of operations, performance and achievements of the Company, including potential strategic transactions, the timing,
content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resou rces/reserves, geological
interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, bus iness 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, b y 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 Compa ny'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 imp lement its business strategies. All of the
Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. 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.
Cautionary Note to U.S. Investors: The terms “mineral resource,” “measured mineral resource,” “indicated mineral resource” and “inferred
mineral resource,” as used on Excellon’s website and in its press releases are Canadian mining terms that are defined in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). These Canadian terms are not defined terms under United States
Securities and Exchange Commission (“SEC”) Industry Guide 7 and are normally not permitted to be used in reports and reg istration statements
filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company’s “mineral
resources” is not directly comparable to information made public by U.S. companies subject to reporting requirements under U. S. securities laws.
U.S. investors are urged to consider closely the disclosure in the Company’s Form 40 -F which may be secured from the Company , or online
at http://www.sec.gov/edgar.shtml.