Excellon Reports 2016 Annual and Fourth Quarter Financial Results and Update on Optimization Plan

Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLF) (“Excellon” or the “Company”) is pleased to report on corporate, operational and financial results for the three- and twelve-month periods ended December 31, 2016 and provide an update on the ongoing optimization plan (as further described below, the “Optimization Plan”) at the Company’s Platosa Mine in Durango, Mexico.
As quoted in the press release:

“We laid the foundations in 2016 for a significant transition in Excellon’s fortunes over the course of 2017,” stated Brendan Cahill, President and Chief Executive Officer. “We materially advanced and are now near completion of our optimization plan at Platosa, which has already proven effective and promises to improve mine production and costs during the latter half of 2017, with dry mining conditions at Platosa expected to be achieved finally during Q2 2017. We expect to have an update on drawdown rates in the near term as more data are collected. Production during 2016, though certainly below mine potential, only minimally depleted Platosa mineral resources, leaving more high-grade resources to mine at higher-rates and lower costs under dry mining conditions in the coming years. Additionally, our resumption of exploration at Platosa has delivered high-grade and near-term accessible mineralization. We plan to move further afield in the coming quarters, including resumption of exploration for skarn- Source/CRD mineralization. Most importantly, however, we have added exceptional new people to our team and look forward to fully drawing on their experience going forward to improve our performance.”

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