Slide 1: Advancing precious metals in North America
Advancing precious metals in North America Corporate Presentation September 2020 www.excellonresources.com TSX:EXN, EXN.WT, NYSE:EXN and FRA:E4X2
Slide 2: Forward Looking Statements
Forward Looking Statements Disclaimer This document contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and applicable U.S. securities laws. Except for statements of historical fact relating to the Company, such forward-looking statements include, w
Slide 3: Creating Value in 2020 and Beyond
Established Production Platosa Mine’s high-grade production, improving cost profile and exceptional leverage to silver price Enhanced Growth Pipeline Creating Acquisition of Kilgore Project in Q2 2020 for less than US$20/ounce, adding US$300M NPV at US$1,800 Au and significant growth upside Value in
Slide 4: Capital
Capital SHARE STRUCTURE TRADING SUMMARY (POST CONSOLIDATION) Share Price (Sept 23, 2020) C$4.01 TSX:EXN NYSE:EXN Issued & Outstanding: 31.76 M 3M Av. Daily Vol: 145,747 34,301 Options: 1.00 M 52-Week Range: $6.20-1.55 $4.65-0.75 DSUs: 0.48 M Market Cap: CAD$127M US$96M RSUs: 0.48 M Warrants: C$7.00
Slide 5: Leadership With A Track Record of Success
Leadership With A Track Record of Success Board of Directors Management Andre Fortier Laurie Curtis Brendan Cahill Anna Ladd-Kruger Independent Independent Director, President & CEO CFO and VP Corp Dev Andrew Farncomb Brendan Cahill Ben Pullinger Craig Ford Independent Non-Independent SVP Geology VP
Slide 6: Quality Projects in Top Jurisdictions
Quality Projects in Top Jurisdictions KILGORE IDAHO | RANKED #5 U.S. AND #7 GLOBAL* GOLD GERMANY UNITED STATES SILVER CITY SAXONY SILVER MEXICO COMBINED PLATOSA & EVOLUCIÓN RESOURCES OF 92% PRECIOUS DURANGO & ZACATECAS METALS SILVER-LEAD-ZINC Precious metals Base metals *Fraser Institute Annual Surv
Slide 7: Kilgore – A Multi-Million Ounce Opportunity
Kilgore – A Multi-Million Ounce Opportunity Significant room for resource growth and discovery US$300 million NPV @ $1,800 Au Acquired for less than US$20/oz • 12,000 acre property located in Idaho • Caldera-related low sulphidation epithermal gold deposit analogous to Kinross Gold’s Round Mountain
Slide 8: Kilgore PEA 2019
Kilgore PEA 2019 Attractive economics at current gold price range ASSUMPTIONS Discount Rate Gold Price $1,300/oz NPV 5.0% 7.0% 9.0% PRODUCTION PROFILE Total Leach Tons Mined 54.0 million $1,100 32.4 23.2 15.1 Total Waste Tons Mined 60.0 million $1,300 110.4 96.8 84.6 Head Grade - Crushed 0.72 g/T (0
Slide 9: Kilgore Regional
Kilgore Regional Targeting the next million ounces • Significant anomalies outside resource area • Exploration science only recently applied • High quality Opal Mines 10km SW of deposit – K3? K2? ? K1 - > 1M 0z high level indicators of K4 and growing continuity of epithermal system Radial faults on
Slide 10: Kilgore – A Multi-Million Ounce Opportunity
Kilgore – A Multi-Million Ounce Opportunity Round Mountain Analog • Grades comparable with Round Mountain and a similar genetic model • Current Kilgore resource totals ~1.0M oz, with resource and geology open for expansion • High-grade intersections within Aspen sequence underlying deposit under-dri
Slide 11: Platosa Mine – Strong Restart in Q3 2020
Platosa Mine – Strong Restart in Q3 2020 Mexico’s Highest-Grade Silver Producer • High-grade underground silver mine with resources of 1,000 g/t AgEq1 • Over 800,000 tonnes mined since production commenced in 2005 • Post-pandemic suspension, focused on key cost reductions: Labour (complete), Treatme
Slide 12: Evolución
Evolución Miguel Auza Processing Facility And Toll Milling • Scalable flotation processing facility located on the property • Currently processing ore from Platosa, 200 km away • Evolving strategic asset: toll milling arrangement with Hecla Mining Company to process 400tpd of San Sebastian ore (bulk
Slide 13: Evolución Resource Update
Evolución Resource Update Sizeable Resource Base with Room for Expansion 2.30 g/t Au, 203 g/t • Resource open along strike and Ag and 10.4% Pb CAPILLA MANTOS down dip LECHUZAS CALVARIO • Expansion drilling being planned to test the strike extension of the mineralized zones • Follow up planned on par
Slide 14: Silver City
Silver City Major base and Precious Metals centres in Europe Europe is rich in metals Zn (Ag) Tin Au (Ag) Finland • Policy changes in Europe Sweden Ag since 2011 are leading to a Norway Cu (Ag) more compelling mining Estonia Pb environment Latvia Fe • Countries are seeing the Denmark Lithuania After
Slide 15: Silver City
Silver City High grade silver mining district in Saxony, Germany • +750 years of historical production with no modern exploration KSL (Cu) • Located on the periphery of a large Lautawerk (Al) epithermal province centered around Freiberg in Saxony • District scale: 164 km2 with 36 km of strike Fluorc
Slide 16: Ready to be Reinvigorated
Ready to be Reinvigorated Vein Width(m) Grade Mine Camp From range To Ag (g/t) From to • Mining ceased in the 1880s Bräunsdorf 0.1 2.5 903 2,500 due to geopolitics and Großvoigtsberg Hohentanne 0.5 0.1 4 0.5 1,100 NA 3,500 2,000 breakdown in gold:silver ratio Kleinvoigtsberg 0.1 0.7 1,900 3,300 Ober
Slide 17: Silver City
Silver City Similar Characteristics to Mexican Epithermal Belts • Freiberg mineralogical galleries have spectacular collection of mineral samples from historical mines, used for insight into geology and potential • All specimens shown here assay multi kilo per tonne silver 16
Slide 18: Silver City – Drilling Underway
Silver City – Drilling Underway BRÄUNSDORF MINE – PRIORITY DRILL TARGET VIEW LOOKING SOUTH EAST Base of historical Productive workings epithermal 300 m zone ~450 m vertically from fluid inclusion Untested studies Untested along Drill strike Targets along strike 1,100 m Historical records describe ve
Slide 19: Silver City
Silver City Mineral Exploration in Saxony • Most “mining friendly” state in Germany • Proud mining history, with many famous economic geologists originating from Freiberg • University of Freiberg, the oldest mining university in the world • EXN and Helmholtz Institute Freiberg (HIF) have research an
Slide 20: Our Commitment to Responsible Business
Our Commitment to Responsible Business • Active and influential member of the Mining Association of Canada (MAC) • Implementing a practical, best-in-class management system that: • Addresses safety, health, security, environmental and community aspects (UN Sustainable Development Goals) • Incorporat
Slide 21: Catalysts
Catalysts Multiple Opportunities on the Mining Value Curve Near Term • Oakley Exploration Update and Property Expansion • Evolución resource update • Commencement of drilling programs at Jaboncillo & PDN (Platosa) • NYSE American – commencement of trading • Ongoing ramp-up of Platosa – lower costs,
Slide 22: Appendix
Appendix A EXCELLON
Slide 23: Resources
Resources Gold Indicated Resources Inferred Resources Tonnes Au Au Tonnes Au Au Property (000’s) (g/t) (‘000s oz) (000’s) (g/t) (koz) Kilgore Project 44,556 0.58 825 9,399 0.45 136 Oakley Project - - - 9,972 0.51 163 Silver-Lead-ZInc Platosa Deposit Ag Pb Zn AgEq Ag Pb Zn AgEq Category Tonnes (g/t)
Slide 24: Technical Disclosures
Technical Disclosures Platosa Deposit - Notes to Mineral Reserves and Resources Kilgore Project - Notes to Mineral Reserves and Resources • Mineral Resources that are not Mineral Reserves do not necessarily demonstrate economic viability. • Mineral resources have been classified in accordance with t
Slide 25: Vision and Mission
VISION To Create Wealth MISSION We realize strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. www.excellonresources.com