Mr. Brendan Cahill reports

EXCELLON DRILLS 2,255 G/T SILVER EQUIVALENT OVER 11.1 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

• Further definition of connector and expansion zone between the high-grade 623 and Guadalupe South mantos, with diamond drilling results including:
  • 1,203 grams per tonne silver, 9.3 per cent lead and 13.4 per cent zinc or 2,255 g/t silver equivalent over 11.1 metres in EX17UG330, including 2,079 g/t Ag, 14.2 per cent Pb, 23.9 per cent Zn or 3,857 g/t AgEq over 5.2 metres;
  • 1,366 g/t Ag, 7.9 per cent Pb and 13.6 per cent Zn or 2,369 g/t AgEq over 3.2 metres in EX17UG328;
  • 2,291 g/t Ag, 15.0 per cent Pb and 13.3 per cent Zn or 3,570 g/t AgEq over 3.6 metres in EX17UG329;
• Mineralization discovered near existing mine workings and accessible before the end of 2017;
• Greater than 1,000 g/t AgEq intersected in eight of 11 holes over average core lengths of 5.7 metres, as further described below.

"These remarkable results confirm our belief in Platosa's potential and our ability to use targeted exploration to add high-grade mineralization to the mine plan," stated Ben Pullinger, vice-president, geology. "We have delineated a sizable new zone of mineralization near existing mine workings that connects and expands the high-grade 623 and Guadalupe South mantos and which may be accessed before the end of the year."

Exploration results

Approximately 16,030 metres have been drilled in 139 holes from surface and underground in the continuing program. Material intersections reported today are summarized in the table.

                            CURRENT DRILL RESULTS

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

EX17UG328       16.1       19.3           3.2           -   1,366    7.9    13.6        2,369
EX17UG329       22.1       25.6           3.6           -   2,291   15.0    13.3        3,570
EX17UG330       15.9       27.1          11.1         0.1   1,204    9.3    13.4        2,255
including       18.9       24.1           5.2         0.2   2,079   14.2    23.9        3,857
EX17UG332       27.4       30.0           2.6           -     864    5.0     6.9        1,415
EX17UG333       17.3       22.9           5.6           -     521    5.0     8.6        1,155
EX17UG335       25.9       33.0           7.1           -     278    2.6    11.5          957
EX17UG336       22.0       30.0           8.0           -     612    9.4     4.6        1,232
EX17UG338       19.9       25.9           6.0         0.3     644    5.8    13.0        1,528
and             29.2       33.5           4.3         0.1     233    2.5     4.7          570
 
(1) From-to intervals are measured from the drill collar, with drill holes marked UG or PH 
drilled from underground stations.
(2) All intervals are reported as core length.
(3) AgEq in drill results assumes $17 Ag, $1.03 Pb and $1.23 Zn with 100-per-cent 
metallurgical recovery.

The results announced today complement underground and surface drilling in the 623 and Guadalupe South connector/expansion zone completed in late 2016 and to date in 2017 (see press releases dated Oct. 27, 2016, and July 26, 2017), with previously announced results from the zone shown in the table.

                               PREVIOUSLY RELEASED DRILL RESULTS

Hole ID            From        To (1) Interval (2)    Au        Ag       Pb        Zn        AgEq (3)
                     (m)       (m)          (m)     (g/t)     (g/t)      (%)       (%)       (g/t)
  
EX16UG274          23.0      36.0         13.0      0.57       662      4.9      25.5       1,886
PH16-13             7.2       9.9          2.8         -       773     11.8       6.3       1,438
EX17UG310           7.8      11.3          3.5         -       124      5.2       5.2         616
EX17UG323          20.8      27.5          6.8         -       886      8.8      20.5       2,318
EX17UG324          73.8      75.3          1.5         -     2,965     16.4       0.9       3,702
and                78.6      79.7          1.1         -     1,171      9.3       2.9       1,713
EX17UG325          87.8      91.5          3.7         -     1,600      6.4       8.7       2,319
EX17UG326          90.9      92.7          1.8         -       316      3.2       0.9         496
and                97.7      99.0          1.3         -       287      6.3       0.6         584
EX14UG200          60.6      61.9          1.3         -     3,574     28.2      18.7       5,727
 
(1) From-to intervals are measured from the drill collar, with drill holes marked UG or PH 
drilled from underground stations.
(2) All intervals are reported as core length.
(3) AgEq in EX16UG274 and PH16-13 assumes $17.50 Ag, $1,265 Au, 90-cent Pb and $1.01 Zn with 
100-per-cent metallurgical recovery, with the remainder assuming $16.50 Ag, $1 Pb and $1.25 Zn 
with 100-per-cent metallurgical recovery.

These holes have successfully defined and infilled a 100- by 25-metre zone connecting and expanding the 623 manto (measured and indicated resources of 83,000 tonnes grading 1,866 g/t AgEq) and the Guadalupe South manto, which is currently in production. These consistent high-grade, massive sulphide intersections average approximately four m thickness across the zone and range from five to six metres in the north, to approximately one metre on the southern edge. Significantly, this newly defined mineralization is near existing mine workings and may be accessed before the end of 2017.

Refer to the company's updated corporate presentation at its website for images associated with this press release.

Qualified person

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

About Excellon Resources Inc.

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.