Welcome to our dedicated page for Excellon Resourc news (Ticker: EXNRF), a resource for investors and traders seeking the latest updates and insights on Excellon Resourc stock.
Excellon Resources Inc. advances precious- and base-metal assets, with a focus on restart planning for the fully permitted, past-producing Mallay Silver-Lead-Zinc Mine in central Peru. Company news commonly centers on Mallay mineral resource estimates, NI 43-101 technical reporting, geological interpretation, and exploration priorities across zones such as Pierina, Shafra, Isguiz, and Mallay Deeps.
Recurring updates also cover the adjacent Tres Cerros Gold-Silver Exploration Property in Peru, the Kilgore gold project in Idaho, and the Silver City epithermal silver district in Saxony, Germany. Additional company developments include mineral concession acquisitions, project portfolio updates, conference participation, and share incentive grants under Excellon's equity compensation plans.
Excellon Resources (TSX: EXN) has been named as defendant in a new legal action filed in the Ontario Superior Court of Justice by Javier Martinez Lomas. The lawsuit, seeking approximately US$23 million in damages, relates to prior litigation involving a former indirect Mexican subsidiary of Excellon.
The claim stems from a previous dispute in Mexico that was fully litigated in Mexican courts, where due process was followed and the matter was believed to be resolved. Excellon characterizes the new lawsuit as an opportunistic attempt to relitigate the previously addressed dispute and maintains that the claims are without merit. The company states it will take all appropriate steps to defend against the action and seek dismissal of the claim.
Excellon Resources (TSX: EXN) reports progress in securing offtake-linked financing for restarting operations at the Mallay Silver Mine in Peru. The company has received multiple non-binding proposals from trading houses for zinc and lead concentrate offtake agreements, including prepayment facilities.
The proposed financing terms include:
- Facilities ranging from US$4 to US$6 million
- Up to 30-month tenors with grace periods during ramp-up
- Annual interest rates from SOFR + 5% to 7%
The proposals require satisfactory due diligence and completion of Excellon's planned acquisition of Minera CRC, Mallay's owner. The offtake agreements would cover 100% of production over multiple years. The company aims to close the Minera CRC acquisition and finalize offtake discussions in April.
Excellon Resources (TSX: EXN) has announced promising exploration results from its Tres Cerros Gold-Silver Project in Peru. Surface sampling revealed high-grade mineralization with up to 9.313 g/t gold and over 1,000 g/t silver in oxidized quartz-sulfide vein outcrops.
The project features a broad alteration footprint spanning 2,500 by 500 metres, with mineralization open in all directions. IP geophysical surveys identified a potential deeper sulphide-rich feeder system, while elevated copper content (0.3%-0.6%) suggests a deep porphyry-style target.
Historical data analysis of over 500 samples collected since 2016 shows 19% assayed above 1 g/t Au and 22% above 1 oz/t Ag. The project shares geological similarities with the Lagunas Norte deposit, which historically produced over 10 Moz Au in the same regional belt.
Excellon Resources (TSX: EXN) has secured a definitive agreement to acquire the past-producing Mallay Silver Mine and Tres Cerros Exploration Property in Peru through Minera CRC. The acquisition, expected to close in April 2025, involves a court-supervised process ensuring clear ownership transfer.
Key financial terms include: increased upfront cash payments to Adar of US$1.565 million, a termination fee of US$3.1 million, and Premier Silver receiving CAD$400,000 in Excellon shares. The company aims to restart silver production at Mallay in Q4 2025, leveraging existing US$115 million infrastructure investment.
The agreement includes provisions for extending the completion deadline through additional US$250,000 payments for each 30-day extension, up to four times. Excellon is currently updating the historic resource model and engaging in discussions with potential offtakers and equity financing partners for restart funding.
Excellon Resources announced the results of its 2024 Annual Meeting held on June 28, 2024. Shareholders voted in favor of all business items, including the election of directors and the appointment of Ernst & Young LLP as auditors. Directors elected include Shawn Howarth, Laurence Curtis, Craig Lindsay, Brendan Cahill, and Gerhard Merkel. The election of Merkel is subject to TSX approval. Detailed voting results show high support for the nominees, with votes ranging from 88.95% to 99.34% in favor. The formal voting report will be available on SEDAR+.
Excellon Resources Inc. announced drill results from the 2022 exploration program at its Kilgore Project in Idaho, USA, with highlights including 1.37 g/t Au over 81.21 meters, confirming high-grade mineralization. The results will aid in future resource and geological modeling to refine targets.
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