Excellon Announces Upsize of Brokered Private Placement of Common Shares for Gross Proceeds of up to C$11 Million

About this update from Excellon Resources Inc.

[{"type":"text","content":"Excellon Announces Upsize of Brokered Private Placement of Common Shares for Gross Proceeds of up to C$11 MillionToronto, Ontario--(Newsfile Corp. - August 26, 2025) - Excellon Resources Inc. (TSXV: EXN) (OTC Pink: EXNRF) (FSE: E4X2) (\"Excellon\" or the \"Company\") is pleased to announce that as a result of strong investor demand, the Company has increased the size of its previously announced \"best efforts\" private placement (the \"Offering\") from aggregate gross proceeds of up to C$8,000,000 to aggregate gross proceeds of up to C$11,000,000. The upsized Offering is comprised of the sale of up to 55,000,000 common shares in the capital of the Company (the \"Offered Shares\") at a price of C$0.20 per Offered Share (the \"Offering Price\"). Red Cloud Securities Inc. (\"Red Cloud\") and Velocity Capital Partners are acting as co-lead agents and joint bookrunners on behalf of a syndicate of agents (the \"Agents\") in connection with the Offering. The Agents will have an option, exercisable in whole or in part up to 48 hours prior to the Closing Date (as defined herein), to sell up to an additional 5,000,000 Offered Shares at the Offering Price to raise up to an additional C$1,000,000 in gross proceeds.The Company intends to use the net proceeds of the Offering for advancing the development of the Mallay Mine, working capital and general corporate purposes, as is more fully described in the Amended Offering Document (as defined herein).Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (\"NI 45-106\"), the Offered Shares will be offered for sale to purchasers resident in all of the provinces of Canada, other than Québec, pursuant to the \"listed issuer financing exemption\" under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). Subject to the satisfaction of certain conditions under applicable Canadian securities legislation, the Offered Shares are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Offered Shares may also be offered in the United States or to, or for the account or benefit of, U.S. p...

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