Excellon Resources Inc. has defined seven exploration target areas across approximately 40% of its Tres Cerros property in Peru, with surface grab sampling returning grades up to 14 g/t gold and 9,050 g/t silver at the Xica target.

The property covers roughly 11,000 hectares of contiguous concessions located adjacent to the company’s operating Mallay Mine in Peru. District-scale mapping, geochemical sampling and spectrometry identified geological settings, hydrothermal alteration and gold-silver geochemistry favourable to epithermal precious metal mineralization.

At the Xica target, mineralized breccias mapped over 400 metres by 200 metres yielded up to 14 g/t gold and 9,050 g/t silver in grab samples. Additional surface sampling returned up to 4.30 g/t gold at Alpaquitay and 512 g/t silver at Xica East, with several targets remaining open along strike. Lead-zinc anomalies and alteration assemblages at Alpaquitay West and Diatrema Norte are interpreted as possible distal expressions of a porphyry copper centre.

Excellon previously conducted surface sampling programs at Tres Cerros in March 2025, confirming the presence of a high-grade gold-silver system.

Permitting work is currently advancing in parallel workstreams. The company has completed environmental baseline and archaeological studies and anticipates submitting the Environmental Impact Declaration to Peru's Ministry of Energy and Mines by year-end 2026. An initial drill program at Tres Cerros is targeted for the first half of 2027.

“The results from Tres Cerros are beginning to demonstrate the scale of the opportunity immediately adjacent to Mallay. Across roughly 40% of the license, we have now defined seven target areas, including surface grab samples of up to 14 g/t gold and 9,050 g/t silver. While Mallay remains our near-term operating focus, Tres Cerros provides Excellon with a district-scale gold-silver growth opportunity that benefits from existing road access, camp and nearby infrastructure. Together, Mallay and Tres Cerros give Excellon both a near-term operating platform and meaningful longer-term growth potential in one district. Our focus for this year is to continue mapping and complete the DIA submission, with an initial drill program anticipated in the first half of 2027.”

— Shawn Howarth, President & Chief Executive Officer

Fieldwork and district-scale mapping across the remaining portions of the Tres Cerros concessions are set to continue as part of ongoing exploration efforts ahead of the planned 2027 drilling.

Read the full announcement: Excellon Defines Targets at Tres Cerros; Grab Sampling Returns up to 14 g/t Gold and 9,050 g/t Silver