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Excellon Closes Acquisition of Mallay Silver Mine and Tres Cerros Gold/Silver Exploration Property in Peru
Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - Excellon Resources Inc. (TSXV: EXN) (FSE: E...
About this update from Excellon Resources Inc.
[{"type":"text","content":"Excellon Closes Acquisition of Mallay Silver Mine and Tres Cerros Gold/Silver Exploration Property in PeruToronto, Ontario--(Newsfile Corp. - June 24, 2025) - Excellon Resources Inc. (TSXV: EXN) (FSE: E4X2) (\"Excellon\" or the \"Company\") is pleased to announce that it has closed the previously announced acquisition (the \"Acquisition\") of all of the issued and outstanding shares (the \"Minera Shares\") of Minera CRC S.A.C. (\"Minera CRC\"), a Peruvian company that holds a 100% interest in the Mallay Silver Mine (the \"Mallay Mine\") and the nearby Tres Cerros Gold/Silver Exploration Property (the \"Tres Cerros Exploration Property\"), both located in the prolific Miocene metallogenic belt of Central Peru.Excellon has now acquired a fully permitted, past-producing and potential near-term restart underground silver-lead-zinc mine with substantial existing infrastructure and exploration upside. The Company will immediately begin the next phase of its growth strategy, focused on advancing restart plans at the Mallay Mine and delineating high-sulphidation gold-silver mineralization at the Tres Cerros Exploration Property.Transaction HighlightsMallay Mine: A fully permitted underground silver-lead-zinc mine, historically operated by Compañía de Minas Buenaventura S.A.A. (\"Buenaventura\") between 2012-2018, producing more than 18 million silver-equivalent ounces during that period.1Tres Cerros Exploration Property: A 2,000-hectare land package adjacent to the Mallay Mine, encompassing a 2.5 km x 0.5 km corridor of high-sulphidation gold-silver mineralization with coincident Induced Polarization and resistivity anomalies, representing a compelling bulk-tonnage exploration target.Infrastructure Advantage: The Mallay Mine site includes a flotation plant, underground development, tailings facilities and grid power access, representing over US$115 million in historical capital investment, which was acquired for a fraction of the replacement cost.Near-Term Strategy: Excellon plans to initiate rehabilitation of the underground workings, confirmatory technical studies, and near-mine drilling to support a restart decision within the next three to six months.Shawn Howarth, President and CEO of Excellon, commented, \"After returning from the Mallay Mine site and meeting with our operations and restart team, we are pleased with the ...