Quantcast
Last updated on April 16, 2014 at 7:10 EDT

Excellon announces improved silver grade, production and costs at La Platosa Mine

September 17, 2013

TORONTO, Sept. 17, 2013 /PRNewswire/ - Excellon Resources Inc. (TSX: EXN) (OTC: EXLLF) (“Excellon” or
the ”Company”)
, Mexico’s highest grade silver producer, is pleased to announce significantly improved silver grade, produced
ounces and costs during July and August at the La Platosa Mine in
Durango, Mexico.

Highlights

        --  Production grades of ~900 g/t Ag (~26 oz/T) in July/August,
            including over 160,000 ounces of silver production in August;
        --  2.1 million silver equivalent ounces of production targeted for
            the year 2013;
        --  $14.00 all-in cost per silver equivalent ounce targeted for the
            year 2013.

“The development into higher grade zones completed in the first half of
the year has put our high-grade, low-cost silver production at La
Platosa firmly back on track,” stated Brendan Cahill, President and
Chief Executive Officer. “Grades and ounces produced during the third
quarter have been better than projected and our net cash costs remain
among the lowest in the industry.  We expect to see our all-in costs
trending lower through the remainder of the year.”

July and August 2013 Production Results

     __________________________________________________________________
    |               |       August|    July 2013    |    8-Mos 2013    |
    |               |    2013     |                 |                  |
    |_______________|_____________|_________________|__________________|
    |  Tonnes Mined |  5,933      |       5,066     |       42,738     |
    |_______________|_____________|_________________|__________________|
    | Tonnes Milled |  6,107      |       4,262     |       42,338     |
    |_______________|_____________|_________________|__________________|
    | Grades:       |             |                 |                  |
    |_______________|_____________|_________________|__________________|
    |  Silver (g/t) |    897      |         895     |          688     |
    |_______________|_____________|_________________|__________________|
    | Silver (oz/T) |   26.2      |        26.1     |         20.1     |
    |_______________|_____________|_________________|__________________|
    |      Lead (%) |   7.45      |        5.84     |         6.56     |
    |_______________|_____________|_________________|__________________|
    |      Zinc (%) |   8.87      |        8.03     |         9.79     |
    |_______________|_____________|_________________|__________________|
    | Recoveries:   |             |                 |                  |
    |_______________|_____________|_________________|__________________|
    |    Silver (%) |   91.7      |        94.6     |         93.8     |
    |_______________|_____________|_________________|__________________|
    |      Lead (%) |   82.3      |        87.0     |         84.6     |
    |_______________|_____________|_________________|__________________|
    |      Zinc (%) |   82.6      |        83.0     |         83.8     |
    |_______________|_____________|_________________|__________________|
    | Metal         |             |                 |                  |
    |Production:    |             |                 |                  |
    |_______________|_____________|_________________|__________________|
    |   Silver (oz) |161,559      |     126,131     |      879,124     |
    |_______________|_____________|_________________|__________________|
    |     Lead (lb) |825,264      |     477,245     |    5,169,690     |
    |_______________|_____________|_________________|__________________|
    |     Zinc (lb) |985,956      |     625,772     |    7,675,678     |
    |_______________|_____________|_________________|__________________|
    |    Ag Eq (oz) |229,480      |     167,494     |    1,360,825     |
    |_______________|_____________|_________________|__________________|
    | Cost:         |             |                 |                  |
    |_______________|_____________|_________________|__________________|
    | Net Cash/Ag Oz|  $5.31      |       $8.40     |        $8.19     |
    |_______________|_____________|_________________|__________________|
    |All-In/Ag Eq Oz| $11.03      |      $10.60     |       $16.54     |
    |_______________|_____________|_________________|__________________|

(Subject to adjustment following settlement with concentrate purchaser.)

(Silver equivalent ounces established using prices of US$24 per oz Ag,
US$0.90 per lb Pb, and US$0.90 per lb Zn )


(applied to the recovered metal content of the concentrates.  )

(“All-In Costs” include all direct mining, treatment and refining costs,
capital and sustaining expenditures, mine and )


(resource expansion drilling and corporate general and administrative
expenses)

Updated 2013 Outlook

Excellon is targeting 2013 production of 1.35 million ounces of silver,
8.2 million pounds of lead and 11.9 million pounds of zinc or 2.1
million silver equivalent ounces (based on $24 silver, $0.90 lead and
$0.90 zinc) at a targeted all-in cost of $14.00 per silver equivalent
ounce.  For the purposes of calculating the projected all-in cost, the
Company has included all direct mining, treatment and refining costs,
capital and sustaining expenditures, mine and resource expansion
drilling and corporate general and administrative expenses.

Excellon to Present at Upcoming Conferences

Excellon will be attending the 2013 Precious Metals Summit at the Park
Hyatt Hotel Beaver Creek, Colorado from September 18(th) to 20(th).  Brendan Cahill, President and CEO, will be presenting on Thursday,
September 19(th) at 3:45 pm (MDT).

Excellon will also be attending the Denver Gold Forum 2013 at the Hyatt
Regency Hotel in Denver, Colorado from September 22(nd) to 25(th), 2013.

About Excellon

Excellon’s 100%-owned La Platosa Mine in Durango is Mexico’s highest
grade silver mine, with lead and zinc by-products making it one of the
lowest cash cost silver mines in the country.  The Company is
positioning itself to capitalize on undervalued projects by focusing on
increasing La Platosa’s profitable silver production and near-term
mineable resources.

Additional details on the La Platosa Mine and the rest of Excellon’s
exploration properties are available at www.excellonresources.com.

Forward-Looking Statements

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
Press Release, which has been prepared by management. This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 27E of the Exchange Act.
Such statements include, without limitation, statements regarding the
future results of operations, performance and achievements of the
Company, including potential property acquisitions, the timing,
content, cost and results of proposed work programs, the discovery and
delineation of mineral deposits/resources/reserves, geological
interpretations, proposed production rates, potential mineral recovery
processes and rates, business and financing plans, business trends and
future operating revenues. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are
typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual results
may differ materially from those in forward looking statements as a
result of various factors, including, but not limited to, variations in
the nature, quality and quantity of any mineral deposits that may be
located, significant downward variations in the market price of any
minerals produced [particularly silver], the Company’s inability to
obtain any necessary permits, consents or authorizations required for
its activities, to produce minerals from its properties successfully or
profitably, to continue its projected growth, to raise the necessary
capital or to be fully able to implement its business strategies. All
of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the
technical reports filed with respect to the Company’s mineral
properties, and particularly the November 22, 2011 NI 43-101-compliant
technical report prepared by Roscoe Postle Associates Inc. with respect
to the Platosa Property. This press release is not, and is not to be
construed in any way as, an offer to buy or sell securities in the
United States.

SOURCE Excellon Resources Inc.


Source: PR Newswire