Excellon Resources Inc. · TSXV:EXN
Excellon Resources — Investor Presentation (April 2024)
36 slides from Excellon Resources's investor presentation, April 2024
Slide 1: Corporate Presentation
CORPORATE PRESENTATION April 2024 TSX:EXN | FRA:E4X2 www.excellonresources.com
Slide 2: Excellon Overview: Opportunity Summary
EXCELLON OVERVIEW Opportunity summary Kilgore SUMMARIZING THE OPPORTUNITY GOLD DEVELOPMENT, PEA COMPLETED IDAHO ATTRACTIVE ENTRY POINT US$275m NPV7% @ US$1,800/oz Au1 “RESET” OF EXCELLON WELL UNDERWAY. 825,000 oz Au @ 0.58 g/t Indicated MRE1 136,000 oz Au @ 0.45 g/t Inferred MRE1 DISCOUNT TO PEERS O
Slide 3: Capital Structure
CAPITAL STRUCTURE On closing debenture restructuring TIGHTLY HELD SHARE REGISTER Market Cap1 Cash2 Other (Including $23.9 million US$0.7 million Majority Debenture Eric Insiders) Holders Sprott ~44% ~51% ~5% Average Cost Base Basic Shares < $0.30 Fully Diluted Outstanding 99.6 million 108.4 million
Slide 4: Kilgore Project Overview
KILGORE PROJECT OVERVIEW
Slide 5: Kilgore: Right Jurisdiction
KILGORE: RIGHT JURISDICTION ✓ Calderra-related, located on a large hot spot system ✓ Extension of the Great Basin, an area that has produced some of the largest gold deposits in the USA Kilgore ✓ Known for highly prospective, large epithermal deposits ✓ Potential for Kilgore to further grow into a m
Slide 6: Kilgore Value Potential
KILGORE VALUE POTENTIAL Attractive economics at current gold price range ASSUMPTIONS NPV Discount Rate Gold Price $1,300/oz 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
Slide 7: Kilgore Has the Potential to Significantly Grow
KILGORE HAS THE POTENTIAL TO SIGNIFICANTLY GROW Evolution of Great Basin style, hydrothermal deposits 8.0 M&I+I Cost per Ounce1 Castle KILGORE: $39/oz resource Measured and Indicated Resource Mountain PEERS2: $32/oz resource Round DeLamar Mountain 51,671 (m oz Au) 4.0 DRILLING, 25,267 Black Pine
Slide 8: Kilgore – High Grade Potential
KILGORE – HIGH GRADE POTENTIAL Rhyolite contact up to 29 g/t Au ▪ Re-logging of core feeding into updated geological model Tuffaceous unit up to 58 g/t Au ▪ Focusing on timing and controls of mineralization ▪ Defining controls on higher-grade mineralization and following up on deeper intersections ▪
Slide 9: Kilgore Historic Drill Holes, Re-logged
KILGORE HISTORIC DRILL HOLES, RE-LOGGED Applying high-grade potential 10OKC-220 Mine Ridge 95EKC-100 Prospect Ridge 16OKC- A Inferred 10OKC- 16OKC- 353 A’ 228 354 Indicated 16OKC- 354 g/t Au 10OKC-228 New 16OKC-354 composite 4.57 m @ 12.18 g/t Au 7.62 m @ 11.19 g/t Au Historical A’ and 10OKC-220 com
Slide 10: Growth: Kilgore Mineralization
GROWTH: KILGORE MINERALIZATION High grade feeders Mine ▪ Aspen Sediments demonstrate Break in the boundary Ridge allows the fluid to pass significant potential for high- and deposit metal grade mineralization >1.0 g/t Au Prospect 0.5-1.0g/t Au Dacitic intrusive 0.3-0.5g/t Au acts as barrier Ridge 0.
Slide 11: Geologic Comparison to Round Mountain
GEOLOGIC COMPARISON TO ROUND MOUNTAIN Excellon’s interpretation and comparison Cross Sectional EXPLORATION Comparison TARGET EXPLORATION TARGET Type Low sulphidation epithermal Low sulphidation epithermal Location NE rim of Kilgore caldera Buried ring fracture margin to caldera Impermeable Bar
Slide 12: Kilgore Drill Targets
KILGORE DRILL TARGETS Targeting and orienting potential high-grade structures 750 meters Drilled 400m south, target Test possible continuity of previously intersected Prospect Ridge mineralization mineralization Mine Ridge Prospect Ridge Mine Ridge Indicated Inferred Prospect Ridge 350 m below surfa
Slide 13: Growth: Potential for Satellite Ore Bodies
GROWTH: POTENTIAL FOR SATELLITE ORE BODIES Highly prospective targets Alex Draw Remote sensing returned high-priority targets & ▪ Dog Bone: Multiple high-grade unsampled outcrops hits, satellite deposit potential KG 4-2 51.8m @ 1.25 g/t Au ▪ Gold Knob, Alex Draw: Low- Existing Kilgore cost soil, roc
Slide 14: Silver City Project Overview
SILVER CITY PROJECT OVERVIEW
Slide 15: Silver City Project
SILVER CITY PROJECT First mover on silver exploration in Saxony, Germany ▪ Rich mining history, located in the Erzgebirge (Ore Mountains of Saxony), 40 km west of Dresden SILVER CITY ▪ Unparalleled ground position, 340 km2 in a historically prolific mining region SAXONY SILVER ▪ Accessible year roun
Slide 16: Significant Land Holding in Emerging Exploration Region
SIGNIFICANT LAND HOLDING IN EMERGING EXPLORATION REGION Four licenses in strategic locations within the Freiberg district: BRÄUNSDORF: 165 km2 (100% Excellon, 2023) GERMANY MOHORN: 57 km2 (100% Excellon, 2021) OEDERAN: 63 km2 (100% Excellon, 2021) FRAUENSTEIN: 57 km2 (100% Excellon, 2021) 16 TSX: EX
Slide 17: Exploration in Germany
EXPLORATION IN GERMANY Stable mining jurisdiction, geologically proven INCREASING CONSOLIDATION OF CLAIMS IN SAXONY, GERMANY COMPANIES IN SAXONY, GERMANY Year 2023 LISTING: AIM MARKET CAP: $50m Excellon Licenses LISTING: LSE MARKET CAP: $20m Year 2015 Freiberg LISTING: CSE MARKET CAP: $5m Freiberg E
Slide 18: Silver City – High Grade Mineralization
SILVER CITY – HIGH GRADE MINERALIZATION * District-scale epithermal silver system ▪ 37 of 40 holes (12,050 m) intersected mineralized structures over 13 kilometre Dresden strike length Freiberg SC20MUN015 SC20GWO012 SC21GWO030 SC21GWO031 SC21GWO033 AGBR05A20 AGBR1020 SC21GVB018 SC21GVB020 Historical
Slide 19: Excellon Transformation Well Underway
EXCELLON TRANSFORMATION WELL UNDERWAY Priorities and objectives for 2024 DIVEST GROW LAUNCH ▪ Mexico Operations: Strategic ▪ Kilgore: low-cost ▪ Silver City: Exploring review underway exploration, high probability transactions to realize value of success ▪ Debt restructuring complete ▪ Platform for
Slide 20: Investment Summary
INVESTMENT SUMMARY ✓ BUSINESS RESET NEARLY COMPLETE, ATTRACTIVE ENTRY POINT ✓ OPPORTUNITY TO PARTICIPATE IN THE GROWTH OF A LARGE-SCALE, EPITHERMAL DEPOSIT ✓ EXPOSURE TO EMERGING EXPLORATION REGION – EASTERN GERMANY, 700+ YEARS MINING HISTORY ✓ KILGORE EXPLORATION – GROWTH DELIVERED THROUGH DRILLING
Slide 21: Appendix
APPENDIX
Slide 22: Geologic Comparison to Round Mountain
Geologic Comparison to Round Mountain Round Mountain Analog Kilgore Round Mountain IDAHO NEVADA Type Low sulphidation epithermal Low sulphidation epithermal Location NE rim of Kilgore caldera Buried ring fracture margin to caldera Host Rhyolite volcanics, 4 - 6.5 Ma Ryholite ash flow 26.5 Ma I
Slide 23: Kilgore Mineralization Controls – Aspen Sediments
KILGORE MINERALIZATION CONTROLS – ASPEN SEDIMENTS Applying thesis to historic drilling ▪ Mineralization within Aspen is associated with wide zones of silicification and local weak chloritic alteration ▪ With low grade disseminated mineralization (<0.1-1 g/t) hosted within the altered matrix ▪ High g
Slide 24: Convertible Debenture Restructuring – Critical Turning Point
CONVERTIBLE DEBENTURE RESTRUCTURING – CRITICAL TURNING POINT Debenture holders highly supportive, seeking long-term upside Context Debenture Repurchase ▪ Binding term sheet agreement reached on September 21st, 2023 Repurchase of $10.4 million (58%) of aggregate principal of Debentures in exchange fo
Slide 25: Kilgore Gold Project
KILGORE GOLD PROJECT ✓ Low-sulphidation epithermal gold deposit ✓ Fully permitted for exploration ✓ Idaho is ranked among top jurisdictions in the world for policy by the Fraser Institute1 ✓ PEA completed, US$275m NPV8% @ US$1,800/oz Au1 Stibnite Beartrack Kilgore MINERAL RESOURCE ESTIMATE INDICATED
Slide 26: High-Grade Potential 17OKC-373
HIGH-GRADE POTENTIAL 17OKC-373 ▪ 12.2 metres @ 8.22 g/t Au ▪ Transition zone between rhyolite and variable Aspen sediments host to gold along with argillic alteration and variable oxidation 125.9 m 138.1 m 17OKC-373 138.10 Composite longitudinal section facing south-west 17OKC-373 0 200 26 TSX: EXN
Slide 27: High-Grade Potential 10OKC-228
HIGH-GRADE POTENTIAL 10OKC-228 ▪ 7.6 metres @ 11.19 g/t Au ▪ Transition from argillic tuffaceous to porphyritic rhyolitic volcanics with variable intense jarosite and disseminated pyrite 10OKC-228 69.2 m Composite longitudinal section facing south-west 76.8 m 10OKC-228 0 200 27 TSX: EXN
Slide 28: High-Grade Potential 95EKC-100
HIGH-GRADE POTENTIAL 95EKC-100 ▪ 4.3 metres @ 19.75 g/t Au ▪ Argillically altered lapilli tuffs with disseminated pyrite mineralization and high-grade gold in a zone of high angle oxidized fractures 95OKC-100 53.6 m 57.9 m Composite longitudinal section facing south-west 95OKC-100 0 200 28 TSX: EXN
Slide 29: High-Grade Potential 10OKC-220
HIGH-GRADE POTENTIAL 10OKC-220 ▪ 9.1 metres @ 8.65 g/t Au ▪ Gold hosted within argillically altered rhyolite and dacite tuffs 53.60 10OKC-220 45.4 m Composite longitudinal section facing south-west 54.6 m 10OKC-220 116.70 0 200 29 TSX: EXN
Slide 30: High-Grade Potential 16OKC-354 – First Intercept
HIGH-GRADE POTENTIAL 16OKC-354 – First intercept ▪ 4.6 metres @ 12.18 g/t Au ▪ Moderately to strongly silica-altered lapilli tuff with lithic fragments hosting Au in a matrix of jarosite and silica coating fractures along with quartz veins 16OKC-354 1st 109.7 m 105.2 m 2nd Composite longitudinal sec
Slide 31: Kilgore Exploration Thesis
KILGORE EXPLORATION THESIS Built on work completed in 2022 ▪ Relogged 82 drillholes via core photos Thesis: ▪ Gold has different controls in Aspen and volcanic packages Mine Ridge Prospect Ridge ▪ Aspen sediments at depth historically underexplored ▪ Improved geologic model provides accelerated retu
Slide 32: Technical Disclosures
TECHNICAL DISCLOSURES Qualified Persons Mr. Jorge Ortega, M.Sc., P.Geo., also a QP, reviewed, verified and approved the scientific and technical information relating to geological interpretation and results contained in this presentation. KILGORE PROJECT • Gold resources are reported above a 0.21 g/
Slide 33: Technical Disclosures
TECHNICAL DISCLOSURES SILVER CITY • For further details see also: “Silver City Project, Saxony, Germany, NI 43-101 Technical Report” prepared by the MSA Group (Pty) Ltd. effective March 31, 2022. Michael Robertson of MSA is the QP that prepared the Report. The report is available on the Company’s we
Slide 34: Cautionary Statements
CAUTIONARY STATEMENTS Forward Looking Statements All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation and responses to questions, including any information as to the future performance of the Company or its projects,
Slide 35: Other Cautionary Statements
OTHER CAUTIONARY STATEMENTS Mineral Resources Until mineral deposits are actually mined and processed, mineral resources and mineral reserves must be considered as estimates only. Mineral resource estimates that are not classified as mineral reserves do not have demonstrated economic viability. The
Slide 36: Ss é J U fi & Re SO UR CE
Ss é 4 J U fi & Re SO UR CE
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