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Excellon reports strong Q4 production, annual output down 18%

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(Kitco News) - Excellon Resources (TSX:EXN) announced Thursday fourth quarter and annual 2020 production results from the Platosa mine in Durango, Mexico.

The company said that its silver-equivalent ("AgEq") production in Q4 2020 increased by 18% to 556,332 AgEq oz compared to Q4 2019 (469,707 AgEq oz).

Full-year 2020 production of 1,639,310 AgEq oz was 18% lower than 2,002,036 AgEq oz produced in 2019, due to the COVID-19-related suspension mandated by the Government of Mexico from April 2nd to June 1st.

"Our Platosa Mine continued to deliver strong production in Q4 2020 after our restart of operations in late Q2, with another quarter of near record mined and milled tonnage," stated President and CEO Brendan Cahill. "The numerous improvements we have made to the operation are bearing fruit and we continue to identify additional areas for optimization. We look forward to a strong 2021 and yet higher silver prices to come," continued Cahill.

Excellon is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high quality gold development project in Idaho; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration.

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