Excellon Resources Confirms Mineralization Below 4090 Level at Mallay Mine

Excellon Resources Inc. has announced positive results from its ongoing drill program at the 100%-owned Mallay Silver-Lead-Zinc Mine in central Peru. The company’s efforts have confirmed grade and width continuity below the 4090 Level, supporting plans for deeper mine development. The drill program, which covers 15 holes totaling approximately 4,400 meters, has also intersected wide zones of silver-lead-zinc mineralization on both sides of the Isguiz vein, outside the current mineral resource estimate and adjacent to planned development.

The latest results from the Isguiz vein are particularly noteworthy. Hole MLL26-010, for instance, returned 5.00 meters grading 255 grams per tonne (g/t) of silver (Ag), 2.39% zinc (Zn), and 3.02% lead (Pb), including 3.40 meters grading 290 g/t Ag, 3.43% Zn, and 4.33% Pb (398 g/t silver equivalent [AgEq]). This intercept confirms strong grade and width continuity in Clavo 6, a mineralized shoot important for near-term mine planning.

Another significant result is from MLL26-004, which intersected 12.55 meters grading 96 g/t Ag, 2.18% Zn, and 0.65% Pb (178 g/t AgEq), including 4.00 meters grading 166 g/t Ag, 1.37% Zn, and 1.20% Pb (236 g/t AgEq). These results provide depth continuity below the 4090 Level, reinforcing the company’s plans for deeper mine development.

The company has also drilled 2.3 meters grading 248 g/t Ag, 0.86% Zn, and 1.74% Pb (314 g/t AgEq) in the Isguiz vein, approximately 280 meters below the 4090 Level. This intercept is within a broader 11.1-meter interval grading 115 g/t AgEq. This is the deepest mineralization returned in the program thus far.

In addition to the Isguiz vein, the drill program has identified a wide mineralized zone flanking the Isguiz vein, outside the current resource estimate. Hole MLL26-006 returned 11.4 meters grading 69 g/t Ag, 5.43% Zn, and 1.32% Pb (267 g/t AgEq), contiguous to the Isguiz Vein, marking the widest calc-silicate intercept returned to date. Hole MLL26-005 intersected 7.7 meters grading 50 g/t Ag, 1.99% Zn, and 0.78% Pb (129 g/t AgEq), including 0.75 meters grading 184 g/t Ag, 5.78% Zn, and 2.87% Pb (428 g/t AgEq), passing directly into 6.65 meters of the Isguiz vein grading 97 g/t Ag, 2.97% Zn, and 2.10% Pb (237 g/t AgEq).

Excellon Resources Inc. has drilled approximately 9,000 meters to date and has transitioned to drilling high-priority step-out targets for which assays are pending or will be reported separately. The company is planning to incorporate these results into an updated mine plan and schedule targeted for year-end. Rehabilitation of the 400 Ramp, the primary access to this area, is underway, and the company expects to use these results to inform development, mine planning, and scheduling below the 4090 Level.