Excellon Announces Upsize of Brokered Private Placement of Common Shares for Gross Proceeds of up to C$11 Million

Executive Summary

• Excellon Resources increased its previously announced best‑efforts private placement from up to C$8 million to up to C$11 million.
• The upsized offering will sell up to 55 million common shares at C$0.20 per share, with an additional over‑allotment option for up to 5 million extra shares (potentially adding C$1 million).
• Net proceeds are earmarked for advancing the Mallay Mine development, working capital and general corporate purposes.

Key Details

• Offering Size: Increased from C$8 M to C$11 M gross proceeds.
• Shares Offered: Up to 55 million common shares at C$0.20 each.
• Over‑Allotment Option: Agents may sell up to an additional 5 million shares (up to C$1 M) within 48 hours before the closing date.
• Lead Agents: Red Cloud Securities Inc. and Velocity Capital Partners acting as co‑lead agents and joint bookrunners.
• Use of Proceeds: Advancement of Mallay Mine development, working capital, and general corporate purposes (as detailed in the Amended Offering Document).
• Closing Date: Anticipated on or about September 9 2025, subject to regulatory approvals and TSX Venture Exchange acceptance.
• Regulatory Framework: Offered under NI 45‑106 “listed issuer financing exemption” for Canadian investors (excluding Québec) and via private placement exemptions in the U.S. and other jurisdictions.
• Share Tradeability: Expected to be freely tradeable immediately after sale to Canadian residents, subject to compliance with applicable securities laws.

Notable Quotes

(No direct quotes were provided in the release.)