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    EXN   CA30069C8016

EXCELLON RESOURCES INC.

(EXN)
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Excellon Resources : DRILLS 1,828 G/T SILVER EQUIVALENT OVER 5.2 METRES AT PLATOSA (Form 6-K)

08/19/2021 | 06:14am EDT

EXCELLON DRILLS 1,828 G/T SILVER EQUIVALENT
OVER 5.2 METRES AT PLATOSA

Toronto, Ontario - August 18, 2021 - Excellon Resources Inc. (TSX:EXN, EXN.WT; NYSE:EXN; FRA:E4X2) ('Excellon' or the 'Company') is pleased to announce results from underground drilling at the Platosa Mine in Durango, Mexico.

Highlights

Further definition and expansion of the 623, NE-1 and NE-1S Mantos, with diamond drilling results from underground including:
O 1,828 g/t silver equivalent ('AgEq') over 5.2 metres (1,051 g/t Ag, 12.1% Pb, 13.1% Zn and 0.2 g/t Au) in EX21UG600;
O 2,368 g/t AgEq over 1.6 metres (1,647 g/t Ag, 12.3% Pb, 11.6% Zn and 0.1 g/t Au) in EX21UG597; and
O 1,481 g/t AgEq over 2.5 metres (784 g/t Ag, 7.7% Pb, 13.9% Zn and 0.3 g/t Au) in EX21UG601
Drilling from underground continues to define and delineate mineralization in areas ahead of production and outside of the current mine plan

'Drilling at Platosa continues to define high grade mineralization ahead of production,' stated Ben Pullinger, Senior Vice President Geology & Corporate Development. 'Additionally drilling into areas previously defined by historical surface holes is upgrading our confidence in the grade and tenor of mineralization and expanding the mineralized envelope around 623 and NE-1'

Exploration Results

The following table shows highlighted intervals from the ongoing underground definition and infill drilling program at Platosa:

Hole ID Interval(1) Interval(2) Ag Pb Zn Au AgEq(3) Area
From To metres g/t % % g/t g/t
EX21UG587 0.0 3.0 3.0 227 2.3 2.0 0.1 363 NE-1
and 66.1 67.4 1.3 360 10.1 10.2 - 972
EX21UG588 64.8 66.1 1.3 692 9.3 6.3 - 1,149 NE-1
including 65.3 65.6 0.3 1,200 21.4 14.3 - 2,242
and 65.9 66.1 0.3 1,032 9.5 1.7 - 1,336
EX21UG589 64.6 65.8 1.2 544 5.9 3.9 - 828 NE-1
including 65.5 65.8 0.3 1,552 15.9 6.7 - 2,190
EX21UG597 34.6 36.2 1.6 1,647 12.3 11.6 0.1 2,368 623
including 34.6 35.6 1.0 2,424 18.2 16.1 0.1 3,454
EX21UG600 30.1 35.3 5.2 1,051 12.1 13.1 0.2 1,828
including 31.7 33.9 2.3 1,985 22.8 17.2 0.1 3,170
EX21UG601 28.2 30.6 2.5 784 7.7 13.9 0.3 1,481 623
including 30.0 30.6 0.6 1,335 8.0 25.7 0.8 2,480
EX21UG605 42.7 45.8 3.1 581 5.7 11.4 0.1 1,126 623
including 42.7 43.6 0.8 1,546 16.1 14.8 0.1 2,475
EX21UG608 28.6 30.0 1.4 1,050 3.4 2.0 - 1,207 623
including 28.6 29.0 0.5 2,624 6.8 2.7 - 2,891
EX21UG610 30.6 33.7 3.1 289 2.2 3.7 - 472 623
including 33.3 33.7 0.4 1,211 10.9 17.4 - 2,090
EX21UG612 44.7 45.9 1.3 707 3.5 2.3 - 875 623
EX21UG618 84.0 86.8 2.8 337 2.7 2.1 - 479 NE-1S
(1) From-to intervals are measured from the drill collar. All holes were drilled from underground stations.
(2) All intervals are reported as core length with true width estimated to range from 50-90% of core length.
(3) AgEq in drill results assumes $24.00 Ag, $0.90 Pb, $1.20 Zn and $1,800 Au with 100% metallurgical recovery.

Drilling from underground continues to define and expand known mineralization ahead of production at the 623, NE-1 and NE-1S Mantos. Most significantly, drilling into the 623 and NE-1 Mantos continues to improve understanding and confidence, and extend mineralization in these areas. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings.

Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited to ISO/IEC 17025. Assay turnarounds have been impacted recently by supply and labour shortages related to COVID-19. The Company has a comprehensive QA/QC program, supervised by an independent Qualified Person.

Qualified Person

Mr. Ben Pullinger, P.Geo., Senior Vice President Geology & Corporate Development, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information contained in this press release.

Board Change

Excellon also announces that Michael Timmins has stepped down from the Board of Directors to focus on his other professional commitments.

'Mike has been an excellent board member since joining us in April 2020 and helping guide the Company through the challenges of the past year,' stated Brendan Cahill. 'We wish him the very best in his future endeavours.'

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, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality advanced exploration gold 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
Ben Pullinger, Senior Vice President Geology & Corporate Development
(416) 364-1130
info@excellonresources.com
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 mineral resources estimates, the future results of operations, performance and achievements of the Company, including potential property acquisitions, 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, 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 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 registration 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 which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

Disclaimer

Excellon Resources Inc. published this content on 19 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2021 10:13:11 UTC.


ę Publicnow 2021
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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 60,3 M 48,7 M 48,7 M
Capi. / Sales 2021 -
EV / Sales 2022
Nbr of Employees 379
Free-Float 70,5%
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Managers and Directors
Brendan T. Cahill President, CEO & Non-Independent Director
Alfred Colas Chief Financial Officer
AndrÚ Yves Fortier Chairman
Paul Keller Chief Operating Officer
Laurence Wilson Curtis Independent Director