Toronto, Ontario – April 13, 2023 – Excellon Resources Inc. (TSX:EXN, OTCQB:EXNRF and FRA:E4X2) (“Excellon” or the “Company”) is pleased to announce a non-brokered private placement of up to 28,571,428 subscription receipts of the Company (the “Subscription Receipts”) at a price of C$0.35 per Subscription Receipt (the “Offering Price”) for aggregate gross proceeds to the Company of up to approximately C$10,000,000 (the “Offering”).