Excellon Resources Inc. · TSXV:EXN

Excellon Resources — Investor Presentation (November 2021)

33 slides from Excellon Resources's investor presentation, November 2021

  1. Slide 1: Silver City: Re-discovering a World-Class Epithermal Silver Belt in Saxony

    SILVER CITY November 2021 RE-DISCOVERING A WORLD-CLASS TSX:EXN | NYSE:EXN | FRA:E4X2 EPITHERMAL SILVER BELT IN SAXONY www.excellonresources.com

  2. Slide 2: Excellon Resources Company overview

    EXCELLON RESOURCES Company overview Kilgore & Oakley Idaho | RANKED #5 U.S. AND #7 GLOBAL* GOLD GERMANY UNITED STATES Silver City Saxony SILVER MEXICO Platosa & Evolución COMBINED RESOURCES OF Durango & Zacatecas 72% PRECIOUS METALS SILVER-LEAD-ZINC In production Precious metals Base metals *Fraser

  3. Slide 3: The Silver City Project: World class scale and opportunity

    THE SILVER CITY PROJECT World class scale and opportunity  Located in the Erzgebirge (Ore Mountains of Saxony), near Freiberg, 40 km west of Dresden SILVER CITY SAXONY SILVER  Accessible year-round by road  Extensive epithermal Ag-Au, Pb-Zn-Cu system striking over 36 km  Four exploration license

  4. Slide 4: Silver City Licenses in Saxony

    SILVER CITY LICENSES IN SAXONY Located in strategic locations Four licenses located in strategic locations within the Freiberg district:  BRÄUNSDORF: 165 km2 (Optioned from Globex, 2019)  MOHORN: 57 km2 (100% Excellon, 2021)  OEDERAN: 63 km2 (100% Excellon, 2021)  FRAUENSTEIN: 57 km2 (100% Excel

  5. Slide 5: Saxony: An exploration and mining centre with a long history

    SAXONY An exploration and mining centre with a long history  Over 800 years of mining history  Strong business culture  Mining has a cultural heritage  Mining authority located in Freiberg  Saxon raw material strategy promoting mining Picture puzzle highlighting the different faces of mining in

  6. Slide 6: History of the Freiberg Mining District & Silver City

    HISTORY OF THE FREIBERG MINING DISTRICT & SILVER CITY 6

  7. Slide 7: Freiberg Mining Heritage

    FREIBERG MINING HERITAGE Deep, proud roots in mining and innovation Mines south of Freiberg in 1745  First documentation of mining dates back to 1185, after silver ore was discovered in a road cut near Freiberg  Mining for silver continued uninterrupted in the region for 800 years all arround Frei

  8. Slide 8: Freiberg Mining Heritage

    FREIBERG MINING HERITAGE Deep, proud roots in mining and innovation  In the late 19th century, the decreasing value of silver and technical challenges triggered the economic fall of the silver mining industry  Last base metal mine closed in central Freiberg in 1969  Documented production since th

  9. Slide 9: Silver City Project history

    SILVER CITY Project history 2017 –  Globex Mining Enterprises is granted the Bräunsdorf license area (165 km2) 2019  Initial target generation  Excellon options the Silver City Project from Globex 2019  Research collaboration with Helmholtz Institute Freiberg and TU Bergakademie  Completion of

  10. Slide 10: Silver City Project Overview

    SILVER CITY PROJECT OVERVIEW Drill road in wheat field with Bräunsdorf water tower 10

  11. Slide 11: R&D of Thesis and Potential

    R&D OF THESIS AND POTENTIAL Combining data old and new from all sources  Compilation from historical archive data & 3D modelling of old workings  Sampling of historical waste dumps and surface exposures  Soil geochemistry along prospective target trends  Mag and IP surveys, reprocessing of histo

  12. Slide 12: Confirming high-grade, district-scale epithermal silver system

    SILVER CITY Confirming high-grade, district-scale epithermal silver system  Exploration along two major geological Munzig trends: (1) gneiss to schist contact, and (2) schist to mafic volcanic rock contact  About 40% of the structure is under cover making these prospective areas for modern explora

  13. Slide 13: Confirming high-grade, district-scale epithermal silver system

    SILVER CITY Confirming high-grade, district-scale epithermal silver system  14 of 16 holes (3,700 m) intersected mineralized structures in 2020 drilling SC20MUN015 Hole ID From To Ag ppm Length Ag*m SC20GWO012 96.45 97.75 954 1.30 1,240.4 AGBR05A20 207.75 208.2 911 0.45 409.95 SC20GWO012 SC20GWO012

  14. Slide 14: Mineralization & Textures

    MINERALIZATION & TEXTURES Analogous to other world-class districts REICHENBACH - AGBR10-20 Altered mafic tuff hosting a hydrothermal quartz breccia with disseminated silver sulfosalts GRAUER WOLF - SC20GWO12 Polymetallic-quartz composite veins with selvages composed of sphalerite, galena and Freiber

  15. Slide 15: Community Engagement

    COMMUNITY ENGAGEMENT Transparency and communication Engage early, be transparent and bring people and stakeholders into and along with the project  Engaging local municipal council  Engaging local mining associations  Building relationships with all stakeholders from local and community levels th

  16. Slide 16: Mineral Concessions in Saxony: Application Process, Royalties

    MINERAL CONCESSIONS IN SAXONY Application Process, Royalties LEGAL PERMISSION BASE Federal Mining Act (“Bundesberggesetz – BBergG”)  Generally governed by the Federal Mining Act  3 stages for raw material concessions (§§7 – 9 BBergG) Exploration licence (§7 BBergG) – max 5 years, renewable for 3 y

  17. Slide 17: Mineral Concessions in Saxony: Surface rights

    MINERAL CONCESSIONS IN SAXONY Surface rights PUBLIC LAND OWNER / LAND USER PRIVATE LAND OWNER / LAND USER  Federal Republic of Germany, represented by its  Agricultural Companies real estate administration (“Bodenverwertungs- und Verwaltungs GmbH” – BVVG)  Forestry Operation Companies  Federal R

  18. Slide 18: Mining permission framework

    MINERAL CONCESSIONS IN SAXONY Mining permission framework Authorization Mining Authorization Exploration License Mining Permit Mining Proprietorship Project Approval Framework Operation Plan Optional Approval Licensed Mandatory Operation Plan Approval Main Operation Plans Mining Operations Permitted

  19. Slide 19: Geology of the Freiberg Silver District

    GEOLOGY OF THE FREIBERG SILVER DISTRICT 19

  20. Slide 20: Regional Geology

    REGIONAL GEOLOGY  Variscan gneiss dome surrounded by schists  Paleozoic mafic volcanic rocks and clastic sediments  Carboniferous to permian igneous rocks  District with over 1000 NE-SW striking silver - base metal quartz-carbonate veins  Peripheral zones are silver dominated (EXN license areas

  21. Slide 21: Freiberg Epithermal Ag-Pb-Zn Mineralization

    FREIBERG EPITHERMAL Ag-Pb-Zn MINERALIZATION  Intermediate to low sulfidation epithermal deposit Ag-(Au), Pb-Zn-(Cu) analogous to Mexican deposits  District and depth zoning in mineralization  Silver concentration increases successively toward shallower depths and in distal parts of the district 

  22. Slide 22: Genetic Model for Freiberg Mineralization

    GENETIC MODEL FOR FREIBERG MINERALIZATION Two productive contacts, twice the potential 4 cm Quartz hematite vein Trinity @ 0.5 ppm Au, 4 ppm Ag, 155 ppm As Productive zone for precious metals precipitation Modified after Swinkels et al. (2019, 2020)  Vein float at Trinity represent quartz-hematite

  23. Slide 23: Silver City Central Trend

    SILVER CITY CENTRAL TREND Deformation and dilation  Most of the historical production was exploited from the major kink along the gneiss - mica schist contact Trinity  Fluid flow concentrated in dilation zones opened Grauer along curvilinear N-S striking contacts Wolf  The northern schist-mafic c

  24. Slide 24: Silver City Central Trend

    SILVER CITY CENTRAL TREND Deformation and dilation Stopes following the plunging ore shoot on Peter vein at the Christbescherung mine (Großvoigtsberg) Christbescherung mine section on paper Christbescherung mine section in Leapfrog Anisotropy in foliation form interpolants  Identification of dilati

  25. Slide 25: The Past is the Key to the Present

    THE PAST IS THE KEY TO THE PRESENT Historical approach to find new deposits  Understand the limits of historical mining and exploration techniques  Why did the mines close?  Water and/or geotechnical reasons  Political and/or economical reasons  Ore grade  Which areas were difficult to explore

  26. Slide 26: Silver City 2022 Future work plan

    SILVER CITY 2022 Future work plan  Ground magnetic survey and inversion  Soil geochemistry orientation study and sampling  Archive data research  Drill testing of lateral and vertical continuation of known mines  Refinement of target areas by 3D modelling 26 Frauenstein mine trend

  27. Slide 27: Peter & Fortuna C Targets

    PETER & FORTUNA C TARGETS Schist-gneiss contact targets Galena and sphalerite & sericitic alteration in NQ drill core  Southern continuation of the Peter Vein along the schist mica schist - gneiss contact  Mineralization encountered in shallow depths 110m below surface Peter gneiss  Precious meta

  28. Slide 28: Bräunsdorf & Siegfried Targets

    BRÄUNSDORF & SIEGFRIED TARGETS Schist-gneiss contact targets volcanic rocks Bräunsdorf  Major contact between gneiss and mica schist  Magnetics indicate an extension of the schist structure SW to the Siegfried target  Primary precious metal mineralization and gneiss subordinate base metals Siegfr

  29. Slide 29: New Discoveries on Mafic Trend

    NEW DISCOVERIES ON MAFIC TREND Mafic contact has significant potential for new discoveries Trinity SC20GWO012 1.2 m @ 331 g/t AgEq (325 g/t Ag, 0.1 g/t Au) Grauer Wolf SC21REI024 mineralized breccia over 4.5 m Reichenbach AGBR0120 0.35 m @ 319 g/t AgEq (300 g/t Ag, 0.2 g/t Zn , 0.2 g/t Au)  Mafic t

  30. Slide 30: Grauer Wolf & Reichenbach Targets

    GRAUER WOLF & REICHENBACH TARGETS Mafic-schist contact target Lattice bladed calcite & sericitic alteration Grauer Wolf Pyrargyrite volcanic veinlets rocks schist  Mineralization at shallow depth 70 m from surface  Silver-rich mineralogy and shallow boiling indicates a distal mineralization with d

  31. Slide 31: Trinity Target

    TRINITY TARGET Newly defined 2021 Target Quartz-hematite 1 cm breccia gabbro volcanic  N-S strinking contacts represent a prospective rocks structutral setting similar to Kleinvoigtsberg  Abundant quartz-hematite float with anomalous Kleinvoigtsberg Ag (up to 12 g/t) and As values. Similar samples

  32. Slide 32: Our Team

    OUR TEAM 33

  33. Slide 33: Vision and Mission: To Create Wealth

    VISION To Create Wealth MISSION We realize strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders.

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