Excellon Resources (TSX/NYSE: EXN) announces permitting approval for the Drill Operation Plan at Silver City Project in Saxony, Germany

Highlights of 2021 Drilling Program

• ‍Initial 12,000 metre diamond drilling program commencing imminently on four priority targets– Grauer Wolf, Reichenbach, Bräunsdorf and Peter Vein – following up on high-grade silver mineralization encountered in 2020 program
• ‍Priority drilling also planned at Munzig, where anomalous mineralization was encountered multiple zones in 2020 drilling, including 116 g/t silver equivalent (“AgEq”) over 2.43 metres within a nine metre wide  zone
• ‍Program also designed to test new targets on over 30 kilometres of strike on two confirmed contacts, with the mafic-schist contact identified in 2020 at Reichenbach and Grauer Wolf representing a potentially more conducive setting for epithermal silver mineralization

“Our 2020 drilling program confirmed the presence of a major epithermal system, encountered high-grade silver species and delivered high-grade assays, including new discoveries at Grauer Wolf and Reichenbach,” stated Ben Pullinger, SVP Geology & Corporate Development. “We achieved these milestones with only 16 holes over 24 kilometres of strike. This year’s program will build on the modelling and integration of those results to expand on our 2020 discoveries and make new ones in 2021.”

Highlights from the 2020 drilling program include:

• 1,042 g/t AgEq over 0.45 metres (911 g/t Ag, 0.4 g/t Au, 2.8% Pb and 0.9% Zn), within 231 g/t AgEq over 2.30 metres (183 g/t Ag, 0.4 g/t, Au 0.5% Pb and 0.2% Zn) in initial drilling on the Peter Vein;
• 505 g/t AgEq over 0.71 metres (356 g/t Ag, 2.0 g/t Au), within 191 g/t AgEq (134 g/t Ag and 0.8 g/t Au) in first hole at Reichenbach (Großvoigtsberg), a new, near-surface discovery in an area with minimal historic mining;
• 319 g/t AgEq over 0.35 metres (300 g/t Ag, 0.2 g/t Au and 0.2% Zn), within 101 g/t AgEq (87 g/t Ag, 0.2 g/t Au) at Bräunsdorf;
• 1,043 g/t AgEq over 1.3 metres (954 g/t Ag, 0.1 g/t Au, 0.7% Pb and 2.0% Zn) within 100 metres of surface, within 194 g/t AgEq over 8.1 metres (173 g/t Ag, 0.1 g/t, Au, 0.4% Pb and 0.3% Zn), and 331 g/t AgEq over 1.2 metres (325 g/t Ag, 0.1 g/t Au, 0.03% Pb and 0.03% Zn) in the hanging wall at Grauer Wolf, a new high-grade discovery in an area with no historic drilling;

Drilling at the Munzig target in late-2020 encountered two zones of mineralization within 75 metres of surface (including 2.43 metres grading 116 g/t AgEq from 70 metres and 1.60 metres grading 143 g/t AgEq from 77 metres in SC20MUN015) separated by a non-mineralized dike, potentially aligning with historic records describing some of the broadest widths in the Bräunsdorf area.

The 2020 program totaled 3,700 metres of drilling and intersected significant alteration and or micellization in seven of nine targets. In addition to the drilling planned for 2021, fieldwork including mapping, prospecting and geophysical surveys are scheduled to be completed on the Bräunsdorf license and the newly acquired  Oederan, Mohon and Frauenstein licenses. These programs are intended to expand and define new drill targets into 2022.

The Silver City Project was mined for high-grade silver from the 11th until the late 19th century, when Germany left the silver standard in 1873 and the gold:silver ratio collapsed. Records from the project indicate high-grade silver production over substantial widths throughout the district. Excellon has embarked on the first modern day exploration program focused on precious metals.

Excellon holds an option to acquire a 100% interest in the Silver City Project from Globex Mining Enterprises Inc. (TSX:GMX; OTCQX:GLBXF; and FRA:G1MN).

 *Disclaimer: Excellon Resources is a paid marketing client

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