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EXCELLON ANNOUNCES EXTENSION OF BRÄUNSDORF LICENSE ON SILVER CITY PROJECT
EXCELLON ANNOUNCES EXTENSION OF BRÄUNSDORF LICENSE ON SILVER CITY PROJECT ...
About this update from Excellon Resources Inc.
[{"type":"text","content":"\n \n \n \n EXCELLON ANNOUNCES EXTENSION OF BRÄUNSDORF LICENSE ON SILVER CITY PROJECT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 9, 2022\n \n \n /CNW/ -\n \n Excellon Resources Inc.\n \n (TSX: EXN) (NYSE: EXN) (FRA: E4X2)\n \n (\"Excellon\" or the \"Company\")\n \n is pleased to announce the extension to\n \n September 30, 2025\n \n of the 164 km\n \n 2\n \n Bräunsdorf exploration license (the \"Bräunsdorf License\"), composing part of the 340 km\n \n 2\n \n Silver City Project in Saxony,\n \n Germany\n \n .\n \n \n \"The Bräunsdorf License was the first piece of our Silver City Project and has been the primary focus of our exploration efforts since we arrived in Saxony in Q3 2019,\" stated\n \n Brendan Cahill\n \n , President & CEO. \"Our drilling programs on the license have delineated a high-grade epithermal silver system over tens of kilometres, that remains open with multiple targets yet to be followed up on and the new licenses we acquired last year yet to be explored. We also continue to be impressed by the regulatory efficiency of the jurisdiction and remain committed to Saxony for the foreseeable future. Finally, Globex Mining has been a great partner on the Bräunsdorf License and we look forward to earning a 100% interest in the license in Q3 this year.\"\n \n \n Excellon is earning into a 100% interest in the Bräunsdorf License pursuant to an option agreement (the \"Option Agreement\") dated\n \n September 23, 2019\n \n (as amended) between the Company's subsidiary, Saxony Silver Corp., and Globex Mining Enterprises Inc. (TSX:GMX, OTCQX:GLBXF and FRA:G1MN) (\"Globex\"). The remaining components of consideration under the Option Agreement are:\n \n \n \n Paying\n \n C$200,000\n \n and issuing common shares of Excellon with a value equivalent to\n \n C$625,000\n \n based on the 5-day volume-weighted average price (VWAP) on or before\n \n September 23, 2022\n \n ; and\n \n \n Granting Globex a gross metals royalty on the Br&#x...