Toronto, Ontario — January 12, 2026 — Leads & Copy — Excellon Resources Inc. has acquired two new mineral concessions, expanding its land position south of the Tres Cerros Gold-Silver Exploration Property in Peru.
The acquisition adds 1,132 hectares of ground immediately south of the company’s existing Tres Cerros claims, extending the Tres Cerros corridor.
Coincident IP, geochemical, and spectral anomalies identified at the southern margin of the original concessions, along with geological features, appear to continue into the newly acquired concessions, forming a 10 km N-S x 5 km E-W corridor.
The acquired area also hosts a large intrusive body interpreted to be related to the Tres Cerros mineralizing event.
Terra Resources Pty Ltd has completed a technical reinterpretation of historical geophysical and geological datasets and generated a ranked set of priority drill targets to support Excellon’s first phase of drilling.
Excellon has initiated the drill permit process for an initial ~5,000-metre drill program.
Shawn Howarth, President and CEO, said the acquisition extends the prospective trend by approximately five kilometres to the south, giving the company the scale to pursue the system as an emerging district. He added that with Terra’s ranked drill targets in hand and permitting now in progress, the company is focused on executing a disciplined, first-pass 5,000-metre program.
Excellon’s Peruvian subsidiary, Minera CRC S.A.C., acquired the following concessions:
- Tres Cerros 32 – 632 hectares
- Tres Cerros 33 – 500 hectares
Exploration by Excellon and predecessor Buenaventura identified a strong, 2.5-kilometre-long, north-south trending zone of coincident IP, geochemical, and satellite spectral anomalies which extend to the southern margin of the Company’s original tenements. Mapped controlling structures and spectral anomalies are interpreted to continue into the newly acquired concessions. The acquired area also hosts a large intrusive body which is interpreted to be related to the Tres Cerros mineralizing event.
To accelerate drill targeting, Excellon engaged Terra to review and re-interpret historical datasets. Terra’s work program included quality assurance/quality control of datasets, reprocessing and enhancement, 2D inversion modelling and 3D inversion of resistivity and chargeability, and integrated interpretation to define and rank targets suitable for first-pass drilling.
In its geophysical review presentation, Terra reports that the reprocessed and inverted datasets support multiple chargeability targets along the main north-south structural corridor and additional targets associated with interpreted volcanic and caldera-margin features. Excellon will use these ranked targets to form the basis of the Company’s first phase of drill testing at Tres Cerros, subject to permitting and field readiness.
Exploration drilling permitting has been initiated, and further updates will be provided as this process advances. Fieldwork is expected to commence in Q2 2026. An initial ~5,000-metre drill program is planned on completion of permitting.
Steven L. Park, M.Sc., C.P.G., an independent consulting geologist and a Qualified Person, has reviewed and approved the scientific and technical information related to the Tres Cerros Exploration Property contained in this release.
The Tres Cerros Gold and Silver Exploration Property is a 3,310-hectare land package located adjacent to Excellon’s Mallay Silver Mine in the Miocene metallogenic belt of Central Peru. Under the terms announced with Excellon’s October 2024 acquisition of Mallay and Tres Cerros, Excellon is party to a back-in rights agreement providing for the sale of up to 49% of Tres Cerros at an exercise price of 1.5x Excellon’s qualifying expenditures incurred.
Excellon’s vision is to realize opportunities through the acquisition and advancement of quality precious and base metal assets. The Company is focused on the potential restart of the Mallay Silver Mine in Peru. Excellon also holds a portfolio of exploration-stage projects, including Kilgore, an advanced gold project in Idaho, and Silver City, a high-grade epithermal silver district in Saxony, Germany, and the Tres Cerros Gold-Silver Exploration Property in Peru.
Shawn Howarth, President & Chief Executive Officer, info@excellonresources.com
Source: Excellon Resources Inc.
