Toronto, Ontario – February 24, 2020 – Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) (“Excellon” or the “Company”) and Otis Gold Corp. (TSX-V:OOO, OTC:OGLDF, FRA:4OG) (“Otis Gold”) are pleased to announce that they have entered into a definitive agreement (the “Agreement”) today whereby Excellon will acquire all the issued and outstanding shares of Otis Gold pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”).