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EXCELLON ANNOUNCES ADDITION TO BOARD

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TORONTO, June 23, 2022 /CNW/ - Excellon Resources Inc. (TSX: EXN) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the "Company") is pleased to announce the appointment of Zoya Shashkova to the Board of Directors.

Excellon Resources Inc. Logo (CNW Group/Excellon Resources Inc.) (CNW Group/Excellon Resources Inc.)
Excellon Resources Inc. Logo (CNW Group/Excellon Resources Inc.) (CNW Group/Excellon Resources Inc.)

"We welcome Zoya to the Board of Directors and look forward to benefitting from her experience going forward," stated André Fortier, Chair. "She brings experience in Mexico from her time at Torex and in leading environmental technologies in her current role at EnviroGold Global. Additionally, her strong financial and accounting background will be an excellent addition to our Audit Committee."

"With Zoya's appointment, we also note the pending retirement of André Fortier at the upcoming annual meeting in August," stated Brendan Cahill, President and CEO. "André has played a key role in the Company's development since mining started at Platosa and has been a great supporter of the management team throughout his time with Excellon. He has been a friend and mentor during my time as CEO. We wish him the very best in his well-deserved retirement."

Zoya Shashkova has over two decades of consulting and finance executive experience, spanning audit and consulting, tax structuring, risk management, reporting, disclosure, and mining finance. She is currently CFO of EnviroGold Global Limited, a clean technology company that is capitalizing environmental stewardship and sustainably supplying the world's increasing demand for precious, critical and strategic metals by profitably reclaiming unrecovered value from mine tailings and resource development waste streams.

Prior to EnviroGold Global, Ms. Shashkova was the Treasurer for Torex Gold Resources Inc., a mid-tier Canadian gold producer with operations in Mexico, where she participated in raising $1 billion in capital to support ongoing operations as well as long-term strategic initiatives. Her previous mining executive roles include CFO for UraniumOne's operations in Central Asia, where she provided leadership in all areas of business and financial management, including strategic planning, performance measurement, debt financing, accounting, international tax structuring, and risk management, as well as senior leadership positions with Deloitte and E&Y. During her tenure with UraniumOne, Ms. Shashkova also served on the boards of operating joint ventures as an Audit Committee Chair. Ms. Shashkova holds a MSc in Biology and Chemistry, an MBA in Banking and Finance, is a Certified Public Accountant (CPA, US, Maine), and is an ICD.D certified director, Institute of Corporate Directors.

About Excellon

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery potential; an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration; and Platosa, a high-grade silver mine producing in Mexico since 2005, scheduled to wind-down in Q3 2022. The Company is also actively seeking to capitalizing on current market conditions by acquiring undervalued projects.

Additional details on Excellon's properties are available at www.excellonresources.com.

SOURCE Excellon Resources Inc.

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