The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

  • Microsoft Becomes Allied Investment Advisors’ Second Biggest Bet

  • UK’s Jupiter CEO Formica to quit, replaced by investment boss Beesley

  • Australia hit by new Covid wave; over 30,000 infections reported on Tuesday

  • Yuanta Financial : YFH announces the board resolution of Yuanta International Insurance Brokers on the record date for 2021 dividend distribution

Gold and Precious Metals
Home›Gold and Precious Metals›Form 6-K EXCELLON RESOURCES INC For: Jun 14

Form 6-K EXCELLON RESOURCES INC For: Jun 14

By Megan
June 14, 2022
6
0
Share:

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.


 

 

  OMB APPROVAL
  OMB
Number :
3235-0116
  Expires: August
31, 2020
  Estimated average burden
hours per response. …………….. 8.7

UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

Washington,
D.C. 20549

 

Form
6-K

 

REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For
the month of June , 2022.

 

Commission
File Number 001-39491

 

EXCELLON
RESOURCES INC.

(Translation
of registrant’s name into English)

 

10
KING STREET EAST, SUITE 200 TORONTO, ONTARIO, CANADA M5C 1C3

(Address
of principal executive office)

 

Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form
40-F ☐

 

Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

 

Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report
to security holders.

 

Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that
the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 

 

EXCELLON
ANNOUNCES EXTENSION OF BRÄUNSDORF LICENSE
ON SILVER CITY PROJECT

 

Toronto,
Ontario – June 9, 2022 – Excellon Resources Inc. (TSX:EXN, NYSE:EXN, FRA:E4X2) (“Excellon” or the “Company”)
is pleased to announce the extension to September 30, 2025 of the 164 km2 Bräunsdorf exploration license (the “Bräunsdorf
License”), composing part of the 340 km2 Silver City Project in Saxony, Germany.

 

“The
Bräunsdorf License was the first piece of our Silver City Project and has been the primary focus of our exploration efforts since
we arrived in Saxony in Q3 2019,” stated Brendan Cahill, President & CEO. “Our drilling programs on the license have
delineated a high-grade epithermal silver system over tens of kilometres, that remains open with multiple targets yet to be followed
up on and the new licenses we acquired last year yet to be explored. We also continue to be impressed by the regulatory efficiency of
the jurisdiction and remain committed to Saxony for the foreseeable future. Finally, Globex Mining has been a great partner on the Bräunsdorf
License and we look forward to earning a 100% interest in the license in Q3 this year.”

 

Excellon
is earning into a 100% interest in the Bräunsdorf License pursuant to an option agreement (the “Option Agreement”) dated
September 23, 2019 (as amended) between the Company’s subsidiary, Saxony Silver Corp., and Globex Mining Enterprises Inc. (TSX:GMX,
OTCQX:GLBXF and FRA:G1MN) (“Globex”). The remaining components of consideration under the Option Agreement are:

 

  ● Paying
C$200,000 and issuing common shares of Excellon with a value equivalent to C$625,000 based on the 5-day volume-weighted average price
(VWAP) on or before September 23, 2022; and
  ● Granting
Globex a gross metals royalty on the Bräunsdorf License equal to 3% of precious metals and 2.5% of other metals, which can be
reduced to 2% and 1.5%, respectively, with a US$1,500,000 payment.

 

Excellon
has also agreed to make a one-time C$300,000 payment upon the release of a maiden resource on the Bräunsdorf License and a one-time
payment of C$700,000 upon the achievement of commercial production from the Bräunsdorf License.

 

The
340 km2 Silver City Project is located within a large, high-grade epithermal system and has a long history of mining dating
back to the 12th century, with no modern-day exploration for precious metals.

 

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: Platosa, a high-grade silver mine producing
in Mexico since 2005; Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery
potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history
and no modern exploration. The Company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

 

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

 

For
Further Information, Please Contact:

 

Excellon
Resources Inc.

Brendan
Cahill, President & Chief Executive Officer

Dan
Hall, Chief Financial Officer

(416)
364-1130

[email protected]

www.excellonresources.com

 

 

Forward-Looking
Statements

 

The
Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press
Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section
27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, mineral resources estimates,
the future results of operations, performance and achievements of the Company, including potential strategic transactions, the timing,
content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological
interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends
and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results
may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations
in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price
of any minerals produced, the Company’s inability to obtain any necessary permits, consents or authorizations required for its
activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary
capital or to be fully able to implement its business strategies. All of the Company’s public disclosure filings may be accessed
via www.sedar.com and readers are urged to review these materials. This press release is not, and is not to be construed in any way as,
an offer to buy or sell securities in the United States.

 

 

SIGNATURES

 

Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

 

  EXCELLON
RESOURCES INC.
  (Registrant)

 

Date:
June 14, 2022
By: /s/
Brendan Cahill
    President
and Chief Executive Officer

 

Source link

Previous Article

Andrew Abercrombie Buys 905,334 Shares of Humm ...

Next Article

Lenovo plans to ‘catapult’ service business with ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Gold and Precious Metals

    Catalytic Converter Thefts On The Rise Across Fairfax County: Police

    May 26, 2022
    By Megan
  • Gold and Precious Metals

    Bitcoin: Why is this crypto the most expensive?

    May 27, 2022
    By Megan
  • Gold and Precious Metals

    ‘When people can see the end, gold typically starts ripping’ – Sandstorm Gold CEO Nolan Watson

    May 23, 2022
    By Megan
  • Gold and Precious Metals

    Civil War-era gold: FBI’s records on Pennsylvania search raise questions

    May 31, 2022
    By Megan
  • Gold and Precious Metals

    Gold, silver prices today: Precious metals witness dip on MCX | Check latest rates here

    May 25, 2022
    By Megan
  • Gold and Precious Metals

    Gold, Silver, PGMs — How to Build a Physical Portfolio

    June 2, 2022
    By Megan

Leave a reply Cancel reply

You may interested

  • Gold and Precious Metals

    AEX Gold : ACAM LP To Invest Upfront Capital of £18.0 Million in Strategic Mineral Asset Joint Venture With AEX

  • Investment

    Is yAxis (YAXIS) a Bad Investment Sunday?

  • Australian Economy

    Statement by Philip Lowe, Governor: Monetary Policy Decision | Media Releases

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • June 28, 2022

    Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

  • June 28, 2022

    Microsoft Becomes Allied Investment Advisors’ Second Biggest Bet

  • June 28, 2022

    UK’s Jupiter CEO Formica to quit, replaced by investment boss Beesley

  • June 28, 2022

    Australia hit by new Covid wave; over 30,000 infections reported on Tuesday

  • June 28, 2022

    Yuanta Financial : YFH announces the board resolution of Yuanta International Insurance Brokers on the record date for 2021 dividend distribution

Best Reviews

Latest News

Stock Shares

Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

News Release & Notice of Disposal of Treasury Shares as Restricted Stock Compensation – TOKYO, Japan, June 28, 2022 – The Board of Directors of Seiko Epson Corporation (TSE: 6724, ...
  • Microsoft Becomes Allied Investment Advisors’ Second Biggest Bet

    By Megan
    June 28, 2022
  • UK’s Jupiter CEO Formica to quit, replaced by investment boss Beesley

    By Megan
    June 28, 2022
  • Australia hit by new Covid wave; over 30,000 infections reported on Tuesday

    By Megan
    June 28, 2022
  • Yuanta Financial : YFH announces the board resolution of Yuanta International Insurance Brokers on the record date for 2021 dividend distribution

    By Megan
    June 28, 2022
  • Recent

  • Popular

  • Comments

  • Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

    By Megan
    June 28, 2022
  • Microsoft Becomes Allied Investment Advisors’ Second Biggest Bet

    By Megan
    June 28, 2022
  • UK’s Jupiter CEO Formica to quit, replaced by investment boss Beesley

    By Megan
    June 28, 2022
  • Australia hit by new Covid wave; over 30,000 infections reported on Tuesday

    By Megan
    June 28, 2022
  • Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

    By Megan
    June 28, 2022
  • Australian economy survived Covid better than most but recovery could slow, OECD says | Australian ...

    By Megan
    September 14, 2021
  • The Best Online Brokers, According to 5 Financial Experts

    By Megan
    September 14, 2021
  • Is Disaster Looming for Australia’s Economy?

    By Megan
    September 29, 2021

Trending News

  • Stock Shares

    Seiko Epson : Notice of Disposal of Treasury Shares as Restricted Stock Compensation

    News Release & Notice of Disposal of Treasury Shares as Restricted Stock Compensation – TOKYO, Japan, June 28, 2022 – The Board of Directors of Seiko Epson Corporation (TSE: 6724, ...
  • Investment

    Microsoft Becomes Allied Investment Advisors’ Second Biggest Bet

    In a recent filing with the Securities and Exchange Commission (SEC), Montana-based investment management services provider Allied Investment Advisors stated that it increased its stake in Microsoft Corp. (NASDAQ: MSFT) ...
  • Investment

    UK’s Jupiter CEO Formica to quit, replaced by investment boss Beesley

    CEO Formica to hand over to CIO Beesley on Oct. 1 Beesley joined from Artemis Investment Management Formica to remain with Jupiter until June 2023 June 28 (Reuters) – Britain’s ...
  • Australian Economy

    Australia hit by new Covid wave; over 30,000 infections reported on Tuesday

    Health authorities in Australia’s capital Canberra have warned of a new wave of coronavirus infections. Australian Capital Territory (ACT) Health Minister Rachel Stephen-Smith revealed ...
  • Brokers

    Yuanta Financial : YFH announces the board resolution of Yuanta International Insurance Brokers on the ...

    Close Provided by: Yuanta Financial Holding Co., Ltd SEQ_NO 5 Date of announcement 2022/06/28 Time of announcement 15:20:39 Subject YFH announces the ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.