TORONTO, Nov. 18, 2021 /CNW/ - Excellon Resources
Inc. (TSX: EXN) (NYSE: EXN) (FRA: E4X2) ("Excellon" or
the "Company") is pleased to report that the United States
Forest Service ("USFS") has authorized Excellon's Plan of
Operations for the Kilgore Gold Project (the "Plan") to conduct
mineral exploration activities in the Dubois Ranger District,
Clark County, Idaho.
"We appreciate the dedication of the USFS to ensure that our
plan for the Kilgore Project includes the appropriate safeguards to
protect the lands, waters and wildlife on the project and
surrounding region," stated Brendan
Cahill, President and CEO. "Our team in Idaho, led by Senior Project Manager,
Phil Bandy, has also demonstrated
patience and flexibility in enhancing our plan based on the
recommendations of the USFS. We expect to provide updates on the
next stages of our exploration plans for Kilgore in the coming days."
As required by the National Environmental Policy Act ("NEPA"),
the Dubois Ranger District, Caribou-Targhee National Forest, and FS
Region 4 conducted an environmental assessment ("EA") of the Plan
submitted to the USFS in July 2020.
After thorough review, the USFS determined that the Plan of
Operations includes appropriate safeguards and issued a Decision
Notice/Finding of No Significant Impact ("DN/FONSI").
The Plan provides for drilling at 130 locations on several
prospective target areas associated with the Kilgore gold deposit, with the permitted
program expected to be completed in three to five years.
About Excellon
Excellon's vision is to create wealth by realizing strategic
opportunities through discipline and innovation for the benefit of
our employees, communities, and shareholders. The Company is
advancing a
precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver
mine since production
commenced in 2005; Kilgore, a high-quality advanced
exploration
gold project in Idaho with strong economics and
significant growth and discovery potential; and an option on Silver
City, a high-grade epithermal silver district in Saxony,
Germany with 750 years of mining
history and no modern exploration. The
Company also aims to continue capitalizing
on current
market conditions by acquiring undervalued projects.
Additional details on Excellon's 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 impact of the COVID-19 pandemic on the
Company's operations and results, the outcome and impact of the
legal action in Mexico (including
the dismissal of the appeal by the federal courts of Mexico on July 1,
2021) in respect of the La Antigua mineral concession that
is part of the Evolución Property in Zacatecas, mineral resources estimates, 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, the potential of the Company's properties,
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, the ability of the Company to maintain normal
operations during the COVID-19 pandemic, the outcome and impact of
the legal action in Mexico
(including the dismissal of the appeal by the federal courts of
Mexico on July 1, 2021) in respect of the La Antigua
mineral concession that is part of the Evolución Property in
Zacatecas, 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, 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. 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.
Cautionary Note to U.S. Investors: The
terms "mineral resource," "measured mineral resource," "indicated
mineral resource" and "inferred mineral resource," as used on
Excellon's website and in its press releases are Canadian mining
terms that are defined in accordance with National Instrument
43-101 – Standards of Disclosure for Mineral Projects ("NI
43-101"). These Canadian terms are not defined terms under United
States Securities and Exchange Commission ("SEC") Industry Guide 7
and are normally not permitted to be used in reports and
registration statements filed with the SEC by U.S. registered
companies. The SEC permits U.S. companies, in their filings
with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or
produce. Accordingly, note that information describing
the Company's "mineral resources" is not directly comparable to
information made public by U.S. companies subject to reporting
requirements under U.S. securities laws. U.S. investors are urged
to consider closely the disclosure in the Company's Form 40-F which
may be secured from the Company, or online
at http://www.sec.gov/edgar.shtml.
SOURCE Excellon Resources Inc.