Excellon Increases Indicated Silver Mineral Resource by over 500% for the Mallay Mine

Core Insights - Excellon Resources Inc. has announced its first independent Mineral Resource Estimate (MRE) for the Mallay Silver-Lead-Zinc Mine in Peru, marking a significant milestone for the company [1][3]. Group 1: Mineral Resource Estimate Details - The MRE was prepared by SGS Canada and establishes a higher-confidence inventory to support the staged restart planning of the Mallay Mine [2][3]. - The estimate includes 890,000 tonnes of Indicated resources grading 195 g/t silver, 3.33% lead, and 4.83% zinc, totaling approximately 5.57 million ounces of silver, 65 million pounds of lead, and 95 million pounds of zinc [14]. - Inferred resources are estimated at 362,000 tonnes grading 149 g/t silver, 2.67% lead, and 4.32% zinc, which includes about 1.74 million ounces of silver, 21 million pounds of lead, and 34 million pounds of zinc [14]. Group 2: Technical Aspects and Methodology - The MRE is based on a validated drillhole database comprising 1,595 surface and underground drill holes and 18,150 channel samples, totaling 166,420 meters of drilling and 22,740 meters of channels [7]. - The estimate utilizes modern 3D modeling and geological reinterpretation in accordance with CIM Best Practice Guidelines and NI 43-101 disclosure standards [2][4]. - The resource estimate reflects a conservative silver price of US$30.00 per ounce and assumes a fully utilized mill capacity of approximately 200,000 tonnes per year [3][11]. Group 3: Future Growth and Exploration Potential - Excellon plans to advance new upside targets through ongoing drilling, which is not yet reflected in the current MRE, including the Footwall Zone and Shafra Zone [4][25]. - A 10,000-meter infill and extension drill program is currently underway to improve confidence for mine planning and test near-mine extensions [25][38]. - The company has identified additional mineralization potential in the Footwall Zone, which is adjacent to the principal vein system and not included in the current MRE [25].