Excellon Reports Second Quarter 2017 Production
www.excellonresources.com
EXCELLON REPORTS SECOND QUARTER 2017 PRODUCTION
Toronto, Ontario – July 20, 2017 – Excellon Resources Inc. (TSX:EXN; TSX:EXN.WT; OTC:EXLLF)
("Excellon" or the “Company") is pleased to announce second quarter 2017 production results from the
Platosa Mine in Durango, Mexico.
Q2 2017 Production Highlights
• Silver equivalent (“AgEq”) production of 289,566 ounces (Q2 2016 – 368,568 AgEq oz), including:
o Silver production of 160,820 ounces (Q2 2016 – 227,826 ounces)
o Lead production of 0.9 million lb (Q2 2016 – 1.3 million lb)
o Zinc production of 1.1 million lb (Q2 2016 – 1.6 million lb)
• Success of recently completed Optimization Plan continues to be demonstrated, with higher rates
of development and efficiency gains immediately realized
• Production rates materially increasing in late June and averaging 215 tonnes per day (tpd) in July
to-date in high-grade ore
“During the second quarter we realized significant improvements in operations as we reached dry
mining conditions in mid-June,” stated Brendan Cahill, President and CEO. “Development rates,
maintenance and electrical efficiency improved materially, grouting was eliminated and overall mobile
pump usage was slashed. In late June, we began to see much higher rates of production, which have
averaged 215 tonnes per day to-date in July, an increase of 72% relative to the first half of 2017, with
access to fresh, high grade manto mineralization in Rodilla and Guadalupe South. Our next steps are to
continue driving development headings to access additional high-grade working faces in the 623 and
Pierna mantos and further ramp up production through the remainder of the year.”
Q2 2017 Productions Results
Q2 2017 Q1 2017 Q2 2016 6-mos 2017 6-mos 2016
Tonnes Mined 10,840 12,064 13,929 22,904 26,706
Tonnes Milled 13,877 11,934 14,453 25,810 29,173
Grades
Silver (g/t) 394 317 536 358 509
Lead (%) 3.48 2.89 5.09 3.21 4.94
Zinc (%) 4.51 4.12 6.31 4.33 6.23
Recoveries
Silver (%) 89.8 89.8 90.0 89.8 90.9
Lead (%) 80.4 81.3 81.2 80.8 82.5
Zinc (%) 80.7 81.8 78.7 81.3 79.0
Metal Production*
Silver (oz) 160,820 108,118 227,826 268,938 439,382
Lead (lb) 850,111 610,033 1,313,197 1,460,144 2,632,113
Zinc (lb) 1,116,367 872,976 1,575,231 1,989,343 3,164,009
AgEq (oz)** 289,566 205,314 368,568 494,880 732,120
* Subject to adjustment following settlement with concentrate purchaser.
** AgEq ounces established using average metal prices during the period indicated applied to the recovered metal content of concentrates.
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During April and May, production primarily came from the 674 heading, outside of the Rodilla resource
area, which adversely impacted ore grades. During May, operations began to access a high-grade bench
in Rodilla, with metal grades consequently improving. As the Optimization Plan resulted in drier mining
conditions, high-grade ore in Rodilla became increasingly more accessible, particularly in the last days of
June and into July.
Development rates increased materially from mid-June onward, allowing access to additional ore in the
Rodilla Manto and affording access to the high-grade Guadalupe South Manto, which was accessed in
the last days of June. Development is now driving towards the high grade 623 Manto directly from the
Guadalupe South Manto along a recently identified connector zone of mineralization between the two
mantos, targeting the area of drill hole EX16UG274, which intersected 662 g/t Ag, 4.9% Pb, 25.5% Zn and
0.57 g/t Au or 1,886 g/t AgEq over 13.00 metres (see press release dated October 27, 2016). During the
period, the Company also drove an exploration drift above the 623 Manto to conduct further delineation
and expansion drilling of the area in advance of production later this year.
During the period, the Company continued to process low-grade historical stockpiles and sump material,
with minimal associated mining cost. This mineralized material is blended with mined ore to improve
recoveries (in the case of high-grade lead and/or zinc ore), as well as being cash flow generative. The
following table sets out the mix of ore and low grade stockpiles processed per month in the period and
also reflects the increase in ore grade during the period as the Rodilla Manto was accessed in dry
conditions in late May:
April 2017 May 2017 June 2017
Feed Tonnes Tonnes AgEq (g/t)* Tonnes AgEq (g/t)* Tonnes AgEq (g/t)*
Ore 3,750 674 3,495 951 3,807 983
Low grade stockpiles 277 203 1,119 307 1,430 313
Total 4,027 641 4,613 795 5,236 800
* AgEq ounces established using average metal prices during the period indicated applied to the recovered metal content of concentrates.
With successful completion of the Optimization Plan and achievement of dry mining conditions in mid-
June, the operation began to realize significant improvements in all areas, including:
• Daily production tonnage increased by 47% relative to 2016 and 72% relative to the first half of
2017;
• Development rates improved by 21% relative to 2016 and 90% relative to the first half of 2017;
• Mobile equipment availability improved by 62% compared to 2016;
• Grouting was eliminated; and
• Installed pumps decreased from 54 to 35, while pumping rates doubled, utilizing 36% less energy
per gallon of water pumped.
Production rates improved materially in the the last week of June and, therefore, this increase is not
reflected in the quarter’s results. In addition, July production rates have averaged 215 tpd to-date in
significantly higher-grade material than accessed in the second quarter. Going forward, the Company
expects to increase production and development rates and reduce installed pumps to 20-25, each of
which will yield further operational and financial returns.
The Company expects to release second quarter financial results at market open on July 31, 2017.
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Qualified Persons
Mr. Denis Flood, P. Eng., Vice-President Technical Services, has acted as the Qualified Person, as defined
in NI 43-101, with respect to the disclosure of the scientific and technical information relating to
production and development results contained in this press release.
Mr. Ben Pullinger, P. Geo., Vice-President Geology, has acted as the Qualified Person, as defined in NI
43-101, with respect to the disclosure of the scientific and technical information relating to exploration
results contained in this press release.
About Excellon
Excellon’s 100%-owned Platosa Mine in Durango has been Mexico’s highest-grade silver mine since
production commenced in 2005. The Company is focused on optimizing the Platosa Mine’s cost and
production profile, discovering further high-grade silver and CRD mineralization on the Platosa Project
and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin
America.
Additional details on the La Platosa Mine and the rest of Excellon’s exploration properties are available
at www.excellonresources.com.
For Further Information, Please Contact:
Excellon Resources Inc.
Brendan Cahill, President & CEO or
Nisha Hasan, Director, Investor Relations
(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 the future 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, 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, quality and quantity of any mineral deposits that may be located,
significant downward variations in the market price of any minerals produced [particularly silver], the Company'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 implement its business strategies. All o f 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 July 9, 2015 NI 43-101-compliant technical report prepared by Roscoe Postle
Associates 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.