Excellon Resources Inc. (TSX:EXN, EXN.WT) (NYSE:EXN) (FRA:E4X2)  is pleased to announce fourth quarter and annual 2020 production results from the Platosa Mine in Durango, Mexico.

Q4 2020 Production (compared to Q4 2019)

• Silver-equivalent production increased by 18% to 556,332 AgEq oz
  (Q4 2019 – 469,707 AgEq oz), including:
  • Silver production increased by 37% to 355,581 oz (Q4 2019 – 259,282 oz),
    exceeding Q3 2020 as the strongest quarter of silver production since Q2 2014
  • Lead production increased by 32% to 2.2 million lb (Q4 2019 – 1.7 million lb)
  • Zinc production increased by 19% to 2.5 million lb (Q4 2019 – 2.1 million lb)
• Continued improvements demonstrate positive impact of ongoing optimizations
• Record productivity achieved in H2 2020, following restart in late Q2

“Our Platosa Mine continued to deliver strong production in Q4 2020 after our restart of operations in late Q2, with another quarter of near record mined and milled tonnage,” stated Brendan Cahill, President & CEO. “The numerous improvements we have made to the operation are bearing fruit and we continue to identify additional areas for optimization. Our Miguel Auza Mill realized excellent performance throughout 2020 and continues to deliver strong and improving recoveries. Our metal production for 2020 was not far off 2019, despite losing almost an entire quarter of production due to the pandemic – a testament to the resilience and perseverance of our operational teams. We thank them for their dedication as we look forward to a strong 2021 and yet higher silver prices to come.”

Production Results

Platosa continued to outperform 2019 productivity, while reducing operating costs, improving safety performance and managing the ongoing threat posed by COVID-19. Recoveries at Miguel Auza improved on an annual basis, while plant reliability has substantially increased. During 2020, the operation realized improvements in shift scheduling, mining method, offtake arrangements and electricity costs, while completing the phase 2 tailings dam lift and strengthening the management and technical teams. In the ongoing strong metal price environment, Excellon’s Mexican operations are positioned to continue the performance achieved in the second half of 2020.

Qualified Persons

Paul Keller, P. Eng., 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 results contained in this press release.

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 gold development 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