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    EXN   CA30069C8016

EXCELLON RESOURCES INC.

(EXN)
  Report
Delayed Toronto Stock Exchange  -  03:50 2022-09-29 pm EDT
0.4700 CAD    0.00%
09/13Excellon Looks to Spin-Out Globex's Silver City Property in Saxony, Germany
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09/13Excellon Evaluates Spin-out of Silver City Project in Germany, Pursues Acquisitions; Gained 15% in US After-hours Trading
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09/12Excellon provides corporate update
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RESULTS OF 2022 ANNUAL GENERAL & SPECIAL MEETING

08/12/2022 | 05:55pm EDT

Excellon Resources Inc. Logo (CNW Group/Excellon Resources Inc.)

TORONTO, Aug. 12, 2022 /CNW/ - Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) and (FRA: E4X2) ("Excellon" or the "Company") is pleased to report that shareholders voted in favour of all items of business at the Company's 2022 Annual General and Special Meeting held on August 12, 2022 (the "Meeting"). Detailed results from the election of directors are set out below:

Director

FOR

% FOR

Withheld

% Withheld

Laurence (Laurie) Curtis

5,312,651

95.388

256,873

4.612

Roger Norwich

5,336,748

95.821

232,776

4.179

Craig Lindsay

5,339,707

95.874

229,817

4.126

Jeff Swinoga

5,284,960

94.891

284,564

5.109

Zoya Shashkova

5,330,202

95.703

239,322

4.297

Brendan Cahill

5,261,957

94.478

307,567

5.522

Prior to the Meeting and after the Company mailed its Management Information Circular dated June 24, 2022 (the "Circular"), Ms. Anna Ladd-Kruger resigned as a director of the Company effective July 31, 2022, due to other business commitments and, accordingly, was removed from the slate of nominees put forth for election at the Meeting.

André Fortier, former Chairman and Director of Excellon, retired prior to the Meeting and so did not stand for re-election. Shawn Howarth, President and CEO of Excellon, commented "I would like to thank André for his committed stewardship and dedication as Chairman. Both Mr. Fortier and Ms. Ladd-Kruger were valued members of the Company's Board of Directors and we wish them all the best in their future endeavours."

Following the Meeting, the newly appointed Board of Directors of the Corporation appointed Dr. Laurence (Laurie) Curtis as its Chairman, and also appointed Shawn Howarth, its President and Chief Executive Officer, as a director.

Voting results for the other items of business at the Meeting, all as more particularly described in the Circular, were as follows:


"For"

% "For"

"Withheld"

% "Withheld"

Appointment of Auditors (Ernst &
Young, LLP) and Authorization to
Fix Auditors' Remuneration

5,542,775

99.520

26,749

0.480


"For"

% "For"

"Against"

% "Against"

Approval of Share Incentive Plan

5,142,511

92.333

427,013

7.667

The formal report on voting results with respect to all matters voted upon at the Meeting will be filed under the Company's profile on SEDAR at www.sedar.com.

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: Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery potential; an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration; and Platosa, a high-grade silver mine since producing in Mexico since 2005, scheduled to wind-down in Q3 2022, with an 11,000 hectare exploration package on Mexico's carbonate replacement deposit (CRD) trend. The Company is also actively seeking to capitalize on current market conditions by acquiring undervalued projects in the Americas.

Additional details on Excellon's properties are available at www.excellonresources.com.

Cautionary Statement regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this Press 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 words such as, among others: "advancing", "aims", "development", "exploration", "growth", "opportunities", "option", "pipeline", "potential", "project", "scheduled", "vision" and "will", or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, will (or not) be achieved, occur, provide or result 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. Forward-looking statements include, without limitation, statements regarding wealth creation; realizing on strategic opportunities; innovation; growth pipeline and its advancement; project development quality; project economics, growth and discovery potential; Platosa wind-down and its timing; capitalizing on current market conditions; and project acquisition.  Although the Company believes that such statements are reasonable, no assurance can be given that such expectations will prove to be correct, and any forward-looking statements by the Company are not guarantees of future 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 also 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 assumptions, estimates, expectations and opinions which may prove to be incorrect, and such risks, uncertainties, contingencies and other factors which may cause the actual results or performance of the Company to be materially different, include, but are not limited to, those stated in the Company's annual information form dated March 31, 2022 ("2022 AIF"), the current technical reports for the Company's projects, the Company's Management's Discussion and Analysis for the year ended December 31, 2021 and the quarters already ended in 2022, read together with the accompanying financial statements, which are not exhaustive, and readers should consult the more complete discussion of the Company's business, financial condition and prospects in the 2022 AIF and other aforementioned documents. The forward-looking statements referenced or contained in this Press Release are expressly qualified by these Cautionary Statements as well as those in the Company's referenced public disclosure, all of which is available at www.excellonresources.com and/or under the Company's profile at www.sedar.com. Forward-looking statements contained in this Press Release are as of the date thereof (or as otherwise expressly specified) and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable laws.

SOURCE Excellon Resources Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 - - -
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 16,5 M 12,1 M 12,1 M
Capi. / Sales 2022 -
EV / Sales 2023
Nbr of Employees 257
Free-Float 97,0%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 0,34 $
Average target price 0,78 $
Spread / Average Target 128%
Managers and Directors
Shawn Howarth President, Chief Executive Officer & Director
Daniel Hall Chief Financial Officer & Controller
Laurence Wilson Curtis Chairman
Paul Keller Chief Operating Officer
Roger Norwich Independent Director
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