Excellon Provides Update ON Developments Related to COVID-19 Response
www.excellonresources.com
EXCELLON PROVIDES UPDATE ON DEVELOPMENTS
RELATED TO COVID-19 RESPONSE
Toronto, Ontario – April 2, 2020 – Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1)
("Excellon" or the “Company") announces that the Company is in the process of temporarily suspending
all mining, milling and exploration activities at its Mexican operations until April 30, 2020 , in accordance
with the detailed Mexican Presidential Order (the “Order”) issued on March 31st. On March 30th, Mexico
declared a state of emergency and issued stricter measures, including the temporary suspension of
activities deemed non-essential to containing the COVID-19 pandemic. The Order did not list mining and
mineral pro cessing as essential acti vities. Critical pumping, safety, security and environmental
management will continue during this temporary suspension.
“We stand with the People and Government of Mexico, as we all have a part to play in stopping this global
pandemic,” stated Brendan Cah ill, President and CEO. “We hope that the significant steps Mexico has
taken will save lives across the country. We stand ready to safely resume operations at the appropriate
time to contribute to our local economies and critical global supply chains.”
As advised on March 20, 2020 (CEO’s Letter to Shareholders), the Company implemented measures at the
Platosa Mine and Miguel Auza Mill to minimize the possibility of COVID-19 outbreaks amongst the
workforce and local communities. Excellon will continue to dialog with government authorities to ensure
a safe and timely re-start of operations at Platosa and Miguel Auza. The Company’s business continuity
plans are in place and the Company is expected to have sufficient liquidity to manage through the
temporary suspension of mining operations, with cash and marketable securities totaling US$9.7 million
as of March 31, 2020.
About Excellon
Excellon’s 100% -owned Platosa Mine has been Mexico ’s highest -grade silver mine since production
commenced in 2005. Excellon is focused on optimizing Platosa’s cost and production profile, discovering
further high -grade silver and carbonate replacement depo sit 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 conditions 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 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
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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 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 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 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 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.