Excellon Reports Labour Action at Platosa
www.excellonresources.com
EXCELLON REPORTS LABOUR ACTION AT PLATOSA
Toronto, Ontario – March 7, 2022 – Excellon Resources Inc. (TSX:EXN, NYSE:EXN, FRA:E4X2) (“Excellon”
or the “Company”) reports that the Sindicato Nacional Minero Metalúrgico (the " Platosa Union") has
commenced a labour action at the Platosa Mine in Durango, Mexico.
“We have had a constructive relationship with the Platosa Union for many years and earlier last week we
had agreed in principle on the terms of the 2022 collective bargaining arrangement following numerous
concessions,” stated Brendan Cahill, President and CEO. “Unfortunately, the agreement was reneged on
and, despite our additional concessions, a labour action was ordered. Our workers at Platosa have one of
the most generous compensation structures in the Mexican mining industry and have benefitted greatly
from both improved metal prices and improved productivity in recent years. We hope they also
understand the challenges we are facin g this year at Platosa. As always, we continue to remain open to
discussions and hope for a positive resolution in the near term.”
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
metals growth pipeline that includes: Platosa, a high-grade silver mine producing in Mexico since 2005;
Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and
discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany
with 750 years of mining history and no modern exploration. The Company also aims to continue
capitalizing on current market conditions by acquiring undervalued projects.
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
(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 mineral resources estimates,
the future results of operations, performance and achievements of the Company, inclu ding potential strategic transactions, 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 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, qual ity and quantity of any mineral deposits that
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may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obta in 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 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. 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 registra tion 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 whic h may be secured from the Company , or online
at http://www.sec.gov/edgar.shtml.