Suite 900 -
T: 416.3
FOR IMMEDIATE RELEASE: APRIL 15
EXCELLON REPORTS
Toronto, Ontario – April 15 , 2013 the “Company") , Mexico’s highest grade silver producer, La Platosa Mine in the state of Durango
- Silver production of 312,167 ounces
- Strong lead and zinc production production of 495,529 ounces ;
- Ore tonnage production for the quarter was the
- Metal recoveries continue to improve and exceed exp ectations
- Net cash costs of $6.64 per ounce of silver remain among
Q1 2013 Production Update:
Grades:
Silver (g/t) Silver (oz/T) Recoveries: Silver (%) Metal Prod Silver (oz) Lead (lb Ag Eq (oz)*
- Subject to adjustment following settlement with concentrate purchaser.
- (1) Silver equivalent ounces in Q1 2013 were established using US$0.90 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the concentrates.
- (2) Silver equivalent ounces in Q1 2012 were established using prices of US$34 per oz, US$1 US$1.00 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the concentrates.
Silver production during the quarter was lower than budgeted mantos in the ordinary course and, secondarily, Production during February and March from these increased rates throughout the year. While g r
Excellon Resources Inc.
- 20 Victoria Street. Toronto. Ontario. Canada. M5C 2N8 6.364.1130 F: 416.364.6745 W: ExcellonResources.com APRIL 15 , 2013 Toronto Stock Exchange REPORTS FIRST QUARTER PRODUCTION, 2013 – Excellon Resources Inc. (TSX:EXN) ("Excellon" or Mexico’s highest grade silver producer, is pleased to report Q1 2013 the state of Durango , Mexico. Highlights of the first quarter include: ounces at an average ore grade of 591 g/t; and zinc production of a combined 5.67 million pounds resulted in silver equivalent; production for the quarter was the third highest in La Platosa history; Metal recoveries continue to improve and exceed exp ectations ; per ounce of silver remain among the lowest of industry comparables
Q1 201 3 Q1 2012
Tonnes 18,361 17,132
Silver (g/t) 591 949 Silver (oz/T) 17.24 27.68 Lead (%) 6.35 6.60 Zinc (%) 10.01 10.61 Recoveries: Silver (%) 93.70 91.9 Lead (%) 84.82 77.1 Zinc (%) 83.76 84.4 Metal Prod uction: Silver (oz) * 312,167 436,351 Lead (lb )* 2,161,223 1,902,028 Zinc (lb)* 3,506,965 3,254,953
Ag Eq (oz)* 495,529 (1) 588,027 (2)
Subject to adjustment following settlement with concentrate purchaser.
- (1) Silver equivalent ounces in Q1 2013 were established using prices of US$29 per oz, US$1.00 per lb, and US$0.90 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the
- (2) Silver equivalent ounces in Q1 2012 were established using prices of US$34 per oz, US$1 US$1.00 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the Silver production during the quarter was lower than budgeted primarily due to the mining of lower grade and, secondarily, due to equipment maintenance issues Production during February and March increased significantly and is expected to continue at these increased rates throughout the year. While g r ades were lower than budgeted, they were in line
Toronto Stock Exchange – EXN
No. 08—2013 PRODUCTION Excellon Resources Inc. (TSX:EXN) ("Excellon" or production from the
resulted in silver equivalent history; industry comparables .
prices of US$29 per oz, US$1.00 per lb, and US$0.90 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the
- (2) Silver equivalent ounces in Q1 2012 were established using prices of US$34 per oz, US$1 .00 per lb, and US$1.00 per lb for silver, lead and zinc, respectively, and applied to the recovered metal content of the mining of lower grade equipment maintenance issues in early January.
is expected to continue at or improve ades were lower than budgeted, they were in line with estimates for the La Platosa resources Company accesses and commences mining later in the year.
About Excellon
An Evolution in High- Grade Silver: highest grade silver mine, with lead and zinc by in the country. The Company is increasing La Platosa’s profitable silver production and near
The Toronto Stock Exchange has not reviewed and doe s not accept responsibility for the adequacy Press Release, which has been prepared by managemen t. This press release contains forward of Section 27A of the Securities Act and Section 27 E of the Exchange Act. Such statements inc regarding the future results of operations, performance and achievements of the Company, including pot ential property acquisi timing, content, cost and results of proposed work programs, the discovery and deli geological interpretations, proposed production rat es, potential mineral recovery processes and rates, business and financing business trends and future operating revenues. Alth ough the Company believe assurance that such expectations will prove to be c orrect. Forward expect, anticipate, intend, estimate, postulate and similar expr Company cautions investors that any forward and that actual results may differ materially from limited to, variations in the nature, quality and q uantity of any mineral deposits that may be located , significant downward the market price of any miner als produced [particularly silver], the Company's i nability to obtain any necessary permits, consents or authorizations required for its activities, to prod uce minerals from its properties successfully or pr ofitably, to continue i growth, to ra ise the necessary capital or to be fully able to im plement its business strategies. All of the Company 's public disclosure filings may be accessed via www.sedar.com and reade rs respect to the Company's mineral properties, and pa rticularly the November 22, 2011 NI 43 Roscoe Postle Associates Inc. with respect to the P latosa Property. This press release is not, and is not to be construed an offer to buy or sell securities in the United States.
FOR FURTHER INFORMATION, PLEASE CONTACT: Excellon Resources Inc.
Brendan Cahill, President & CEO or Rupy Dhadwar, CFO T. (416) 364-1130 E. [email protected] W. www.excellonresources.com
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the La Platosa resources being mined. G rades are expected to improve as the Company accesses and commences mining in the higher-grade 6A, Guadeloupe South Grade Silver: Excellon’s 100%- owned La Platosa Mine in Durango is Mexico’s highest grade silver mine, with lead and zinc by -products making it one of the lowest cash cost silv er mines in the country. The Company is positioning itself to capitalize on undervalued pro jects by focusing on increasing La Platosa’s profitable silver production and near -term mineable resources.
The Toronto Stock Exchange has not reviewed and doe s not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by managemen t. This press release contains forward -looking statements within the meaning of Section 27A of the Securities Act and Section 27 E of the Exchange Act. Such statements inc lude, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including pot ential property acquisi timing, content, cost and results of proposed work programs, the discovery and deli neation of mineral deposits/resources/reserves, geological interpretations, proposed production rat es, potential mineral recovery processes and rates, business and financing business trends and future operating revenues. Alth ough the Company believe s that such statements are reasonable, it can give no assurance that such expectations will prove to be c orrect. Forward -looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expr essions, or are those, which, by their nature, refe r to future events. The Company cautions investors that any forward -looking statements by the Company are not guarantee s 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 q uantity of any mineral deposits that may be located , significant downward als produced [particularly silver], the Company's i nability to obtain any necessary permits, consents or authorizations required for its activities, to prod uce minerals from its properties successfully or pr ofitably, to continue i ise the necessary capital or to be fully able to im plement its business strategies. All of the Company 's public disclosure filings may be accessed via www.sedar.com and reade rs are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and pa rticularly the November 22, 2011 NI 43 -101-compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the P latosa Property. This press release is not, and is not to be construed an offer to buy or sell securities in the United States.
FOR FURTHER INFORMATION, PLEASE CONTACT: Brendan Cahill, President & CEO or [email protected] rades are expected to improve as the South and 623 mantos owned La Platosa Mine in Durango is Mexico’s products making it one of the lowest cash cost silv er mines positioning itself to capitalize on undervalued pro jects by focusing on or accuracy of the content of this looking statements within the meaning lude, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including pot ential property acquisi tions, the neation of mineral deposits/resources/reserves, geological interpretations, proposed production rat es, potential mineral recovery processes and rates, business and financing plans, s that such statements are reasonable, it can give no looking statements are typically identified by words such as: believe, essions, or are those, which, by their nature, refe r to future events. The looking statements by the Company are not guarantee s of future results or performance, those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and q uantity of any mineral deposits that may be located , significant downward variations in als produced [particularly silver], the Company's i nability to obtain any necessary permits, consents or authorizations required for its activities, to prod uce minerals from its properties successfully or pr ofitably, to continue i ts projected ise the necessary capital or to be fully able to im plement its business strategies. All of the Company 's public disclosure are urged to review these materials, including the technical reports filed with compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the P latosa Property. This press release is not, and is not to be construed in any way as,