Excellon Resources – First Concentrate Production At The Mallay Silver-Lead-Zinc Mine Operating In Central Peru

Shawn Howarth, President and CEO of Excellon Resources (TSXV:EXN) (OTC:EXNRF)(FRA:E4X2), joins me to celebrate the key company milestone of first concentrate production at their flagship 100%-owned Mallay Silver-Lead-Zinc Mine, located in central Peru. He outlines all the continued development work building towards the commissioning of the mill, and the steady ramp-up into production growth over the next few quarters. We also review the big exploration focus for infilling mineralization, testing at deeper levels of the mine that have been dewatered, and exploration at near-mine targets. Highlights: First Concentrate Production: Since restarting on a pre-commissioning basis on July 2, 2026, the Mallay concentrator has operated consistently, processing approximately 12,000 tonnes of material and producing concentrates containing approximately 29,200 ounces of silver, 319,000 pounds of lead and 456,000 pounds of zinc. Initial concentrate shipments are expected in August 2026 with payment to be received during the quarter. Mill Throughput: The Company is targeting a controlled rate of approximately 400 tonnes per day during the pre-commissioning period, providing a sustained operating window for metallurgical optimization during ramp-up. 400 Ramp: The main accessway below the 4090 Level is now dewatered to the point where rehabilitation can begin. Rehabilitation of the 400 Ramp is the next step toward providing access to areas of the Mine below the 4090 Level. Drilling Underway: Three drill rigs are active, targeting confirmation drilling at depth and near-mine exploration. Results will be reported separately. Mine Ramp-Up Underway: Mine activities are advancing through 2026, prioritizing access below the 4090 Level where mineralization is expected to widen. Updated mine planning and scheduling is underway. We then briefly review the value proposition and optionality across their other 3 projects: Tres Cerros, Kilgore, and Silver City. Shawn points out there will be a lot of news to announce over the second half of this year and into early next year from exploration to operations at Mallay, the spin-out of Silver City, and exploration targeting at Tres Cerros and Kilgore. Click here to follow the latest news from Excellon Resources For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.