Mr. Brendan Cahill reports

EXCELLON INTERSECTS 2,481 G/T SILVER EQUIVALENT OVER 3.0 METRES AT PLATOSA

Excellon Resources Inc. has released results from its continuing surface and underground exploration program at the Platosa mine in Durango, Mexico.

Highlights

• Discovery of extensions to 6A and Guadalupe North mantos in which three distinct zones of mineralization were discovered above the water table. The first of the three zones is currently being mined, with 1,107 tonnes extracted in January. Results from EX16UG281 include:
  • 686 grams per tonne silver, 4.69 per cent lead and 6.18 per cent zinc or 1,193 g/t silver equivalent (AgEq) over 2.4 metres;
  • 504 g/t Ag, 4.33 per cent Pb and 7.08 per cent Zn or 1,041 g/t AgEq over two metres;
  • 843 g/t Ag, 0.41 per cent Pb and 0.02 per cent Zn or 861 g/t AqEq over 1.2 metres.
• High-grade intersection of 795 g/t Ag, 9.25 per cent Pb and 25.85 per cent Zn or 2,481 g/t AgEq over three metres in EX16LP1107, representing an increased footprint of mineralization north of the Pierna manto, to be accessed in late 2017;
• Drill program in 2017 to focus on drilling extensions and gathering important structural information related to controlling structures for the Rodilla and Pierna mantos and expanding the mineral footprint of the Guadalupe South, NE1 and high-grade 623 mantos.

Note

* AgEq in drill results assumes $16.80 per ounce Ag, $1.03 per pound Pb and $1.23 per pound Zn with 100-per-cent metallurgical recovery.

"Recent drilling results confirm our ability to discover additional high-grade manto mineralization both near surface and around our existing resource," stated Ben Pullinger, vice-president, geology. "The discovery of a connector zone between the Guadalupe North and 6A mantos is very encouraging and provides more flexibility in our mine plans and allows us to open up new headings closer to surface."

Exploration results

The company commenced a 25,000-metre diamond drilling exploration program in the third quarter of 2016. This program encompasses drilling from surface and from underground and is currently focused on defining additional shallow mineralization located near existing infrastructure in minable areas.

Additional highlights from the program include:

• 662 g/t Ag, 4.9 per cent Pb, 25.5 per cent Zn and 0.57 g/t Au or 1,886 g/t AgEq over 13 metres in EX16UG274;
• 773 g/t Ag, 11.8 per cent Pb and 6.3 per cent Zn or 1,438 g/t AgEq over 2.77 metres in PH16-13.

To date, 5,400 metres have been completed accounting for 35 holes from surface and underground. Material intersections are summarized in the associated table.

                                DRILL RESULTS
               Interval (1)
Hole           From      To  Interval (2)     Ag    Pb      Zn     AgEq (3)
ID              (m)     (m)           (m)  (g/t)   (%)     (%)        (g/t)

EX16LP1107   186.00  189.00          3.00    795  9.25   25.85        2,481
EX16LP1108   196.60  198.00          1.40    124  3.23    7.01          612
EX16LP1110   195.35  198.00          2.65    305  4.28    0.90          530
EX16UG281     18.15   20.53          2.38    686   4.7     6.2        1,193
And           23.80   25.40          1.60    504   4.3     7.1        1,041
And           30.40   31.60          1.20    843  0.41    0.02          861

Notes
(1) From/to intervals are measured from the drill collar, 
with drill holes marked UG drilled from underground stations.                    
(2) All intervals are reported as core length. Not enough 
information is known about the mineralization to confirm true 
width at this time.
(3) AgEq in drill results assumes $16.8 per ounce Ag, $1.03 per
pound Pb and $1.23 per pound Zn with 100-per-cent metallurgical 
recovery.                                        

Drilling through this period has focused on definition and growth of the existing resource in areas that will be in production in 2017 as well as exploring for new manto mineralization above the water table in areas accessible from existing workings.

Diamond drill holes EX16LP1107 and 1108 were successful in increasing the footprint of the Rodilla and Pierna mantos with 1107 intersecting 795 g/t Ag, 9.25 per cent Pb and 25.85 per cent Zn or 2,481 g/t AgEq over three metres, extending the Rodilla manto to the east. Hole 1108 successfully defined the postmineral fault boundary separating and dislocating the Pierna-Rodilla mantos by intersecting this fault and mineralization within it. This additional definition will allow for improved modelling and planning within this area. Both holes were inclined toward the known faulting in this important structural corridor to accurately model postmineral structures displacing mineralization between these two mantos. EX16LP1110 was drilled into an area to the east of the 623 manto extending known mineralization in this area.

Drilling from underground stations was successful in delineating additional new manto-style mineralization, including hole EX16UG281 which intersected three discrete zones of mineralization grading: 686 g/t Ag, 4.69 per cent Pb and 6.18 per cent Zn or 1,193 g/t AgEq over 2.4 metres, 504 g/t Ag, 4.33 per cent Pb and 7.08 per cent Zn or 1,041 g/t AgEq over two metres and 843 g/t Ag, 0.41 per cent Pb and 0.02 per cent Zn or 861 g/t AqEq over 1.2 metres. This newly delineated mineralization was accessed in early 2017, with 1,107 tonnes extracted. More importantly these results further confirm the potential for new mineralization to be delineated in and around historical workings.

Exploration throughout 2017 will continue to focus on defining high-grade manto mineralization around the existing Platosa resources. Exploration will also continue to define structural controls within the resource that may lead to further discoveries of manto- and feeder-style mineralization.

The company also continues to develop its regional exploration program looking for CRD/source-style mineralization, the most significant of which is the Rincon De Caido discovery, which encountered skarn-style mineralization in 2012/2013, including 132 g/t Ag, 3.1 per cent Zn, 1.7 per cent Pb and 0.075 g/t Au over 55.5 metres in LP1019, 146 g/t Ag, 2.8 per cent Pb, 1.9 per cent Zn and 0.22 g/t Au over 43.4 metres in LP1023A and 13.1 g/t Au, 21 g/t Ag, 0.7 per cent Pb and 3.6 per cent Zn over 7.3 metres in LP 1038.

Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited to ISO/IEC 17025. The company has a comprehensive quality assurance/quality control program, supervised by an independent qualified person.

Qualified person

Ben Pullinger, PGeo, vice-president, geology, has acted as the qualified person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information relating to exploration results contained in this press release.

About Excellon

Excellon's 100-per-cent-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 CRD mineralization on the Platosa project and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin America.

We seek Safe Harbor.