Excellon Provides Update on Kilgore Gold Project
Excellon Provides Update on Kilgore Gold
Project
Toronto, Ontario--(Newsfile Corp. - August 14, 2023) -
Excellon Resources Inc. (TSX: EXN)
(OTCQB: EXNRF) (FSE: E4X2)
("
Excellon
"
or the
"
Company
")
is pleased to announce that a U.S.
District Court ruled in support of the United States Forest Service ("USFS") authorization of Excellon's
Plan of Operations for the Kilgore Gold Project (the "Plan") to conduct mineral exploration activities in
the Dubois Ranger District, Clark County, Idaho.
"We are pleased with this decision and look forward to continuing our exploration of the Kilgore Gold
Project," stated Shawn Howarth, President & CEO of Excellon.
As required by the National Environmental Policy Act ("NEPA"), the Dubois Ranger District, Caribou-
Targhee National Forest, and FS Region 4 conducted an environmental assessment ("EA") of the Plan
submitted to the USFS in July 2020. After thorough review, the USFS determined that the Plan included
appropriate safeguards and issued a Decision Notice/Finding of No Significant Impact ("DN/FONSI"). In
Q4 2021, the USFS authorized Excellon's Plan to conduct mineral exploration activities in the Dubois
Ranger District, Clark County, Idaho.
In Q2 2022, the Idaho Conservation League and Greater Yellowstone Coalition (the "ICL/GYC") filed a
legal action (the "Action") in U.S. District Court challenging the USFS approval of the Plan. The Action
followed the denial by the U.S. District Court of a motion filed by the ICL/GYC to reopen the 2018
proceeding against the USFS. Excellon Idaho Gold Inc. ("Excellon Idaho Gold"), a subsidiary of Excellon,
successfully filed a motion to intervene as a defendant intervenor to protect its interests in the matter.
These legal proceedings did not impact the 2022 Kilgore drilling program.
Following scheduled briefings and a hearing to adjudicate the matter on May 10, 2023, the court ruled in
favour of the USFS and Excellon on August 4, 2023, upholding the EA and DN/FONSI, and rejecting
ICL/GYC's claims against the USFS.
The Memorandum Decision and Order, EA and DN/FONSI are available on Excellon Idaho Gold's
website:
https://excellonidaho.com
.
Quarterly filings
Today the Company filed its condensed consolidated financial statements for the three and six-month
periods ended June 30, 2023 and 2022 ("Financial Statements"), and associated management
discussion and analysis ("MD&A") under the Company's profile on SEDAR+ (
www.sedarplus.ca
).
About Excellon
Excellon's vision is to realize opportunities through the acquisition of advanced development or
producing assets with further potential to gain from an experienced management team for the benefit of
our employees, communities and shareholders. The Company is advancing a portfolio of silver, base
metals and precious metals assets including Kilgore, an advanced gold exploration project in Idaho; and
Silver City, a high-grade epithermal silver district in Saxony, Germany 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.
Shawn Howarth, President & Chief Executive Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
All statements, other than statements of historical fact, contained, referenced or incorporated by
reference in this news release constitute "forward-looking statements" and "forward-looking
information" (collectively, "
forward-looking statements
") within the meaning of applicable Canadian
and United States securities legislation. Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as: "actively", "advance", "anticipated", "assess",
"believe", "cause", "commence", "completion", "conditions", "consideration", "continues",
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"maturity", "may", " "negotiations", "occur", "opportunities", "options", "outcome", "outstanding",
"potential", "providing", "reach", "restructuring", "risk", "subject to", "to be", "update", "vision", "waive",
"when", "will", and "would", or variations of such words, and similar such words, expressions or
statements that certain actions, events or results can, could, may, should, to, will, would (or not) be
achieved, occur, provide, result, complete or support in the future or which, by their nature, refer to
future events. In some cases, forward-looking information may be stated in the present tense, such as
in respect of current matters that may be continuing, or that may have a future impact or effect.
Although the Company believes that such statements are reasonable, it can give no assurance that
such expectations will prove to be correct, and any forward-looking statements by the Company are
not guarantees of future actions, results or performance. Forward-looking statements are based on
assumptions, estimates, expectations and opinions, which are considered reasonable and represent
best judgment based on available facts, as of the date such statements are made. If such
assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results
may be materially different than expressed or implied in the forward-looking statements. Forward-
looking statements are inherently subject to known and unknown risks, uncertainties, contingencies
and other factors which may cause the actual results or performance of the Company to be materially
different from any future results or performance expressed or implied by the forward-looking
statements. Such risks, uncertainties, contingencies and other factors include, among others, the
"Risk Factors" in the Company's annual information form dated March 31, 2023 (the "
2023 AIF
"), and
the risks, uncertainties, contingencies and other factors identified in this news release, the Company's
Management's Discussion and Analysis, and accompanying financial statements, for the year ended
December 31, 2022 and quarters already ended in 2023, and the Company's other applicable public
disclosure (collectively, "
Company Disclosure
"). The foregoing list of risks, uncertainties,
contingencies and other factors is not exhaustive; readers should consult the more complete
discussion of the Company's business, financial condition and prospects that is provided in the 2023
AIF and the other Company Disclosure. The forward-looking statements referenced or contained in
this news release are expressly qualified by these Cautionary Statements as well as the Cautionary
Statements in the other Company Disclosure. Forward-looking statements contained herein are made
as of the date of this news release (or as otherwise expressly specified) and the Company disclaims
any obligation to update any forward-looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable laws.
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