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Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) Strikes Silver at Silver City Project in Saxony
February 25, 2021

Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) Strikes Silver at Silver City Project in Saxony

  • Company announced discovery of high-grade silver mineralization at Grauer Wolf target
  • Excellon continues to develop and test new targets along the 36-kilometer strike length
  • EXN advancing a precious metals growth pipeline in Idaho, Mexico and Germany

Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2), a silver and base metals producer with operations in Mexico and precious metal exploration projects in Mexico, Idaho and Germany, has announced a new discovery. The discovery of high-grade silver mineralization comes at Grauer Wolf, the fourth target drilled at EXN’s Silver City project (https://ibn.fm/1vKtG).

According to the announcement, the discovery is located on a geological site with little historical mining and adds a fourth priority area for follow-up in the 2021 drilling program at Silver City. With eight holes still outstanding, there is strong potential for additional discoveries in parallel strikes. The company is in the process of planning and preparing for more extensive drilling for its Bräunsdorf, Reichenbach, Peter Vein and now Grauer Wolf projects.

Excellon is focused on advancing a precious metals growth pipeline through exploration and development of projects that include:  

  • Platosa — 11,000 hectares hosting the highest-grade silver mine in Mexico and 100% owned by EXN (https://ibn.fm/vCZjs)
  • Kilgore — 6,788 hectare high-quality gold development project in Idaho and 100% owned by EXN (https://ibn.fm/StydP)
  • Silver City — high-grade epithermal silver district in Saxony, Germany with the option to own 100% (https://ibn.fm/N8Jm9)

The 16,400-hectare Silver City project has been mined for 750 years. Records indicate high-grade silver production in excess of 1,000 g/t was mined throughout the area. Mining slowed to a standstill in the late-19th century after Germany dropped the silver standard in 1873 and the gold/silver ratio skyrocketed when silver prices plummeted. EXN is the first modern-day exploration program to focus on precious metals throughout the area, and the company is already seeing promising results.

Thanks to this new discovery, Grauer Wolf is now the fourth priority area for follow-up in the Silver City 2021 drilling program. Lesser known and located 1.5 kilometers north of the Reichenbach target, Grauer Wolf is a relatively unexploited mafiac volcanic contact. EXN continues to develop and test new targets along the Silver City Project, a 36-kilometer strike length on the Bräunsdorf license that historical records indicate has produced at least 882 tonnes of silver as well as zinc and lead (https://ibn.fm/dfDzR). Many of the vein systems under this license have only been mined at shallow depths leaving the potential for many new discoveries.

Excellon’s vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of its employees, communities and shareholders. The company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

For more information, visit the company’s website at www.ExcellonResources.com.

NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN

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