WORLD CLASS ASSET 12+ years of the highest-grade silver production in Mexico from a virtually untouched polymetallic system similar to the largest deposits in Mexico GROWTH Multiple high return exploration targets identified to increase mineable resources, identify major skarn deposit on a 21,000-hectare property and explore the regional potential at a secondary project TEAM FOR THE FUTURE Exceptional board and management of company builders, with expertise from Rio Tinto, Goldcorp, Xstrata, Kinross, Placer Dome and Roxgold EXECUTION Mine optimizations complete and surpassing PEA economics. $50 million in free cash flow expected. BOARD OF DIRECTORS André Fortier ( Chairman) Daniella Dimitrov Dr. Laurie Curtis Alan McFarland Oliver Fernández Jacques McMullen Brendan Cahill MANAGEMENT Brendan Cahill President and CEO Rupy Dhadwar Chief Financial Officer Ben Pullinger VP Geology Denis Flood VP Technical Services Dr. Craig Ford VP Corporate Responsibility Ronald Marino VP Finance Nisha Hasan VP Investor Relations @EXN_Resources 20 Victoria Street, Suite 900, Toronto, Ontario, Canada M5C 2N8 | September 2017 CORPORATE INFORMATION Fully Diluted Shares 114.5M Working Capital $4.0M Production (2016) 0.8M oz Ag, 1.3M oz AgEq TRADING SUMMARY TSX: EXN OTC: EXLLF Avg. Volume 260,087 131,294 52-Wk Range $2.30-1.22 $1.87-0.92 Market Cap CA$139M US$109M TSX : EXN | OTC : EXLLF www.excellonresources.com MEXICO’S HIGHEST GRADE SILVER PRODUCER Excellon’s 100%-owned Platosa Mine in Durango has been Mexico’s highest-grade silver mine since production commenced in 2005. The Company is focused on optimizing the Platosa Mine’s cost and production profile, discovering further high-grade silver and carbonate replacement deposit (CRD) mineralization on the Platosa Project and epithermal silver mineralization on the Miguel Auza Property and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin America. HIGHLIGHTS (Q2 2017) As of Nov. 17, 2017 KEY SHAREHOLDERS: Eric Sprott, Dundee Corporation and Sprott Asset Management ANALYST COVERAGE: Cantor Fitzgerald, Cormark Securities, PI Financial and Red Cloud CONTACT US Tel: 416-364-1130 Toll Free: 1-844-396-7770 [email protected]
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WORLD CLASS ASSET12+ years of the highest-grade
silver production in Mexico from a virtually untouched
polymetallic system similar to the largest deposits in Mexico
GROWTH Multiple high return exploration
targets identified to increase mineable resources, identify major skarn deposit on a 21,000-hectare property and explore the regional potential at a secondary project
TEAM FOR THE FUTUREExceptional board and
management of company builders, with expertise from Rio Tinto, Goldcorp, Xstrata, Kinross,
Placer Dome and Roxgold
EXECUTION Mine optimizations complete
and surpassing PEA economics.
$50 million in free cash flow expected.
BOARD OF DIRECTORS André Fortier (Chairman)
Daniella Dimitrov
Dr. Laurie Curtis
Alan McFarland
Oliver Fernández
Jacques McMullen
Brendan Cahill
MANAGEMENT
Brendan CahillPresident and CEO
Rupy Dhadwar Chief Financial Officer
Ben PullingerVP Geology
Denis FloodVP Technical Services
Dr. Craig Ford VP Corporate Responsibility
Ronald Marino VP Finance
Nisha HasanVP Investor Relations
@EXN_Resources 20 Victoria Street, Suite 900, Toronto, Ontario, Canada M5C 2N8 | September 2017
CORPORATE INFORMATION
Fully Diluted Shares 114.5M
Working Capital $4.0M
Production (2016) 0.8M oz Ag, 1.3M oz AgEq
TRADING SUMMARY TSX: EXN OTC: EXLLF
Avg. Volume 260,087 131,294
52-Wk Range $2.30-1.22 $1.87-0.92
Market Cap CA$139M US$109M
TSX : EXN | OTC : EXLLFwww.excellonresources.com
MEXICO’S HIGHEST GRADE
SILVER PRODUCER
Excellon’s 100%-owned Platosa Mine in Durango has been Mexico’s highest-grade silver mine since production commenced in
2005. The Company is focused on optimizing the Platosa Mine’s cost and production profile, discovering further high-grade silver
and carbonate replacement deposit (CRD) mineralization on the Platosa Project and epithermal silver mineralization on the Miguel
Auza Property and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin America.
HIGHLIGHTS
(Q2 2017)
As of Nov. 17, 2017
KEY SHAREHOLDERS:Eric Sprott, Dundee Corporation and Sprott Asset Management
ANALYST COVERAGE:Cantor Fitzgerald, Cormark Securities, PI Financial and Red Cloud
• Safe jurisdiction with grid power, national highway runs through property
• Over 500,000 tonnes mined since production commenced in 2005
• Remaining resources at over 1.2 kg/t AgEq – one of the richest silver resources in the world
• Optimization program completed in mid-2017 with operations now focussed on doubling production and halving costs
QUALITY RESOURCE – A PLATFORM FOR GROWTH*
MIGUEL AUZA MILL
• Located 220 km from La Platosa Mine
• Currently trucking Platosa ore to Miguel Auza at low costs
• Mill facility has 50% spare capacity. Potential to feed mill with increased Platosa production and regional discoveries
• 14,000 hectare land package with new exploration prospect from reviewing regional geology
EXPANSION POTENTIAL
LA PLATOSA • Occurs on only 56 hectares of a 21,000 hectare land package.
• A new discovery: no commercial mining before Excellon (2005)
• Deposit found on the edge of a major carbonate replacement deposit (CRD) system, similar to a series of deposits that have produced over 40% of Mexico’s silver
• Currently focused on delineating additional tonnes near existing mine workings, delineating new deposits and following up on skarn discovery and other regional skarn/Source-style targets.
Recent manto exploration results include:• 13.0 m @ 662 g/t Ag, 4.9% Pb, 25.5% Zn and 0.57 g/t Au or
1,886 g/t AgEq
• 5.2 m @ 1,203 g/t Ag, 9.3% Ob and 13.4% Zn or 2,255 g/t AgEq over 11.1 m and 2,079 g/t Ag, 14.2% Pb, 23.9% Zn or 3,857 g/t AgEq
• 6.76 m @ 886 g/t Ag, 8.8% Pb an 20.5% Zn or 2,318 g/t AgEq
Skarn exploration results include:• 55 m @ 0.08 g/t Au, 132 g/t Ag, 3.1% Pb and 1.74% Zn
• 43 m @ 0.22 g/t Au, 146 g/t Ag, 2.76% Pb and 1.85% Zn
• 7.25 m @ 13.07 g/t Au, 21.1 g/t Ag, 0.74% Pb and 3.6% Zn
MIGUEL AUZA
• New exploration prospect on the underexplored northern strike of the legendary Fresnillo silver trend, the most prolific silverbelt in the world
• Located 35 km SE of Hecla’s world-class high-grade San Sebastian Mine and 135 km NW of Fresnillo and Juanicipio
• NI 43-101 resource of 22.8M oz AgEq Ind., 11.8M oz Inf. at 350+ g/t AgEq an indication of significant mineral potential, though on secondary rather than regional structures
• Currently reinterpreting regional geology to drive new discoveries on the primary trend
* LA PLATOSA 2014 MINERAL RESOURCE ESTIMATE 1. CIM definitions were followed for the classification of Mineral Resources. 2. Mineral Resources are estimated at an incremental NSR cut-off value of US$146 per tonne.3. Net smelter return metal price assumptions: US$17/oz Ag, US$0.90/lb Pb, US$1.00/lb Zn. 4. Metal recovery assumptions for NSR cut-off value purposes: Ag 89%, Pb 76%, Zn 81%.5. The silver equivalent (AgEq) is estimated from metallurgical recoveries, metal price assumptions, and
smelter terms, which include payable factors, treatment charges, penalties, and refining charges.6. The estimate is of Mineral Resources only and, because these do not constitute Mineral Reserves, they
do not have any demonstrated economic viability. 7. Inferred mineral resources are considered too speculative geologically to have economic considerations
applied to them that enable them to be categorized as mineral reserves.8. Mineral resource estimate prepared by David Ross, P.Geo., of Roscoe Postle Associates Inc.,
independent geological and mining consultants of Toronto, Ontario. Prepared as at December 31, 2014.
