City of Pittsburgh Selects Envision Solar EV ARC(TM) Solar Charging Station for its Fleet of EVs

SAN DIEGO, CA—(Marketwired – November 21, 2017) – Envision Solar International, Inc., (OTCQB: EVSI) (“Envision Solar,” or the “Company”), the leading renewably energized EV charging, outdoor media and energy security products company, announced that the City of Pittsburgh will deploy 5 of its EV ARC™ products to provide emissions–free EV charging and emergency power for its fleet vehicles.

The City of Pittsburgh in Pennsylvania has 10 EVs today and intends to increase that number going forward. As part of the City's ongoing efforts to reduce its carbon footprint and provide clean and reliable power, it intends to transition to 100% renewable energy including wind and solar by 2035. The contract awarded to Envision came as a result of a competitive RFP process.

“In Pittsburgh we are working to achieve long–term environmental health through wise stewardship, improved use of our resources and reducing our carbon footprint. Adding the Envision Solar EV ARC emissions–free charging station to the electric vehicle fleet is one more step on our journey towards making Pittsburgh 100% renewable.” – Mayor William Peduto

“Pittsburgh is the latest city to recognize the benefits of driving on sunshine with our EV ARCs,” said Envision Solar CEO Desmond Wheatley. “We are delighted to be working with them and look forward to enabling much more clean, green, impact free charging infrastructure for them in the future.”

According to the U.S. Census Bureau, there are 19,354 cities and towns in the United States. Envision Solar considers the municipal market to be an important area of focus for our sales team. The Company has deployed EV ARC™ products for New York, Los Angeles, San Francisco, San Diego, Boulder, Sacramento, Santa Monica, Santa Cruz, Indio, Maywood, and others. The Company is currently fulfilling orders for New York City, the City of Oakland and others. The Company's municipal pipeline is expanding.

Invented and manufactured in California, the EV ARC™ fits inside a parking space and generates enough clean, solar electricity to power up to 225 miles of EV driving in a day. The system's solar electrical generation is enhanced by EnvisionTrak™ which causes the array to follow the sun, generating up to 25% more electricity than a fixed array. The energy is stored in the EV ARC™ product's energy storage for charging day or night and to provide emergency power during grid failure. Because the EV ARC™ product requires no trenching, foundations or installation work of any kind, it is deployed in minutes and can be moved to a new location with ease. EV ARC™ products are manufactured in the Company's San Diego facility by combat veterans, the disabled, minorities, and other highly talented, mission–driven team members.

About Envision Solar International, Inc.
Envision Solar,, is a sustainable technology innovation company who's unique and patented products include the EV ARC™ and the Solar Tree® with EnvisionTrak™ patented solar tracking, SunCharge™ solar Electric Vehicle Charging, ARC™ technology energy storage and EnvisionMedia solar advertising displays.

Based in San Diego the company produces Made in America products. Envision Solar is listed on the OTC Bulletin Board under the symbol [EVSI]. For more information visit or call (760) 420–6569.

Forward–Looking Statements

This Press Release may contain forward–looking statements regarding future events or our expected future results that are subject to inherent risks and uncertainties. All statements in this Report other than statements of historical facts are forward–looking statements. Forward–looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. Statements contemplating or making assumptions regarding actual or potential sales, market size, and demand, prospective business contracts, customer orders, trends or operating results also constitute forward–looking statements. Our actual results may differ substantially from those indicated in forwarding looking statements because our business is subject to significant economic, competitive, regulatory, business and industry risks which are difficult to predict and many of which are beyond our control. Our operating results, financial condition, and business performance may be adversely affected by a general decline in the economy, unavailability of capital or financing for our prospective customers to purchase products and services from us, competition, changes in regulations, a decline in the demand for solar energy, a lack of profitability, a decline in our stock price, and other risks. We may not have adequate capital, financing or cash flow to sustain our business or implement our business plans. Current results and trends are not necessarily indicative of future results that we may achieve.

Survey of Mortgage Servicing Professionals Provides Insights on Growing Home Purchase Opportunities within the REO Market

LUXEMBOURG—(Marketwired – November 20, 2017) – Altisource Portfolio Solutions S.A. (“Altisource”) (NASDAQ: ASPS), a leading provider of real estate, mortgage and technology services, today issued additional results of its inaugural Default Servicing Survey, a survey of over 200 mortgage default servicing professionals. According to the study, the vast majority of servicing professionals surveyed (93 percent) said their organization is currently investing to improve the condition of REO properties under management; 62 percent said their organization is currently making a significant investment.

“For many home buyers, access to conventional financing and move–in ready condition are requirements to purchase their next home,” said Min Alexander, Senior Vice President, Real Estate Services, Altisource. “Distressed properties, including REO, have historically been marketed in as–is condition, at times limiting the potential buyer pool. Servicers are changing this by increasing investments to maintain or improve the condition of these properties, attracting more owner–occupant home buyers.”

With tight inventory and rising prices, the National Association of Realtors found that the median single–family home price grew nearly six percent from August 2016 to August 2017 while inventory was down 6.5 percent.1 The Default Servicing Survey results show servicers are increasingly working to meet demand – and divest assets – by making REO assets a more appealing and viable option for consumers. A majority of servicing professionals surveyed (82 percent) ranked their investment in improving the condition of their REO asset portfolio among their top three most effective ways for attracting traditionally minded consumers to the REO market. Servicing professionals also pointed to offering financing options for REO [such as FHA 203(k)] to make purchasing these assets more achievable (76 percent) and offering buyers the opportunity to work with a real estate agent (43 percent) as two other leading tactics for bringing consumers to the REO market.

Technology Facilitates Consumer Participation in REO Market

While focusing on property maintenance and accepting consumer–friendly financing options both play an important role in helping servicers make properties more appealing to the traditional market, servicers must also find ways to get available properties in front of prospective buyers. With technology increasingly driving consumer participation in the real estate market, there is power in leveraging online platforms to market real estate assets. The majority of servicing professionals surveyed (95 percent) said they believe consumer–friendly technology, such as easy–to–access online auctions, has had a positive impact on consumer participation in the default market. Sixty–one percent indicated that providing helpful property and neighborhood information on online auction display pages – such as virtual tours and school information – is among their top three methods to attract consumers to the REO market.

“The REO market offers both servicers and consumers a compelling opportunity to meet each other's needs and solve for today's supply–demand disconnect,” said Marcello Mastioni, President, Real Estate Marketplace, Altisource. “Technological innovation, such as online real estate marketing platforms like Hubzu, can help savvy buyers discover a new pool of properties. Servicers' investments in consumer–friendly features, along with improvements in property conditions, are broadening home buyers' horizons and encouraging them to consider the REO market.”

Survey Methodology

The Default Servicing Survey was completed online among 205 professionals in the U.S. mortgage default servicing industry. Fieldwork was conducted by independent research firm Ebiquity between June 22 and 29, 2017. The margin of error associated with the sample of n=205 is +/– 6.8 percent at a 95 percent confidence level.

About Altisource®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever–changing market. Additional information is available at


NexOptic Completes Acquisition of Spectrum Optix and Appoints New Management Team Members

VANCOUVER, BC—(Marketwired – November 06, 2017) –

Joint News Release

For the audio version of today's news release please visit

NexOptic Technology Corp. (“NexOptic“) (OTCQX: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) and Spectrum Optix Inc. (“Spectrum“, and together with NexOptic, the “Companies) are pleased to announce that further to the Companies' joint news release dated September 20, 2017, NexOptic has completed its acquisition of Spectrum (the “Acquisition“).

The Companies are also pleased to report that effective November 7, 2017 NexOptic Director (and former CEO of Spectrum) Mr. John Daugela, will replace Mr. Paul McKenzie as CEO of NexOptic. Mr. McKenzie will subsequently be appointed as Chief Business Officer of NexOptic and will remain as NexOptic's President. Further, Mr. Darcy Daugela, an advisor to both NexOptic and Spectrum, will replace Mr. Arnold Armstrong as Chairman of NexOptic, while Mr. Armstrong will remain as a Director of NexOptic.

“This marks a major milestone for our growing company,” said John Daugela, incoming CEO of NexOptic. “With the completion of the acquisition, NexOptic has solidified 100% ownership of Spectrum and its disruptive technologies. Although I've long viewed Spectrum and NexOptic as one synergistic organization, this formally solidifies our talented teams as one cohesive creative optics firm.” He added: “I look forward to reporting back to our shareholders, in the near term, developments relating to our disruptive technologies.”

The Acquisition was completed on November 3, 2017 pursuant to the exercise of the third and final option (the “Option“) granted to NexOptic under the investment agreement among NexOptic, Spectrum and the initial Spectrum shareholders (the “Spectrum Shareholders“) and their principals dated October 22, 2015, as amended (the “Investment Agreement“). Pursuant to the Option, NexOptic acquired from the Spectrum Shareholders all of the remaining common shares of Spectrum (“Spectrum Shares“) which it did not own, constituting 72.58% of the issued and outstanding Spectrum Shares, in exchange for issuing to the Spectrum Shareholders an aggregate of 43,767,172 common shares in the capital of NexOptic (the “Acquisition Shares“) and an aggregate of 8,461,816 conditional warrants (the “Conditional Warrants“). Each Conditional Warrant is exercisable into a common share (“NexOptic Share“) or unit (“Unit“) of NexOptic, as set forth below. As a result, NexOptic now owns 100% of Spectrum.

Exercise of the Conditional Warrants is conditioned upon and subject to the exercise of corresponding classes of options and warrants of NexOptic outstanding prior to the Acquisition, such that for each 65 NexOptic Shares issued on the exercise of existing options and warrants, the holders of the Conditional Warrants may exercise in the aggregate only 35 corresponding Conditional Warrants.

Pursuant to the Investment Agreement, the Conditional Warrants were issued on substantially similar terms as the corresponding [options] and warrants of NexOptic outstanding immediately prior to their issuance, with the exercise prices being no less than the allowable exercise price under applicable rules of the TSX Venture Exchange (the “TSXV“).

The following table sets forth the exercise prices and expiry dates of the Conditional Warrants:

Number of Conditional Warrants   Exercise Price   Expiry Date
1,149,982   $1.12     June 21, 2018
118,354   $1.12     February 23, 2019 (1)
3,727,403   $1.50     February 23, 2019
1,136,154   $1.12     September 21, 2020
53,846   $1.12     February 22, 2021
404,923   $1.12     July 5, 2021
175,000   $1.12     September 14, 2021
296,154   $1.12     January 10, 2022
1,400,000   $1.75     June 7, 2022
  1. The 118,354 Conditional Warrants expiring on February 23, 2019 are exercisable into Units. Each Unit is comprised of one NexOptic Share and one warrant exercisable at a price of $1.50 per NexOptic Share until February 23, 2019.

The Acquisition Shares and Conditional Warrants issuable pursuant to the Acquisition are subject to a resale restriction under Canadian securities laws expiring on March 4, 2018. Additionally, and in accordance with the policies of the TSXV, the Acquisition Shares have been deposited into escrow pursuant to the terms of an escrow agreement dated November 3, 2017, and will be released from such escrow as follows:

  1. 5% as of the date of the TSXV bulletin approving NexOptic's acquisition of Spectrum (dated February 19, 2016) (the “Bulletin”);
  2. 5% as of August 19, 2016 (being the date which is 6 months following the issuance of the Bulletin);
  3. 10% as of February 19, 2017 (being the date which is 12 months following the Bulletin);
  4. 10% as of August 19, 2017 (being the date which is 18 months following the Bulletin);
  5. 15% as of February 19, 2018 (being the date which is 24 months following the Bulletin);
  6. 15% as of August 19, 2018 (being the date which is 30 months following the Bulletin; and
  7. The remaining 40% as of February 19, 2019 (being the date which is 36 months following the Bulletin).

The NexOptic Shares underlying the Conditional Warrants are subject to the same escrow restrictions.

Based on the release schedule detailed above, 13,130,152 of the Acquisition Shares will be immediately released from escrow.

In connection with the Acquisition, NexOptic will issue 254,237 NexOptic Shares and make a cash payment of $300,000 to an arm's length party (the “Finder“) in accordance with the terms of a finder's fee agreement dated November 16, 2014. The NexOptic Shares issuable to the Finder are subject to resale restrictions under Canadian securities laws expiring on March 4, 2018.

Following the Acquisition, NexOptic now has 125,303,299 NexOptic Shares issued and outstanding, and a further 24,176,616 NexOptic Shares reserved for issuance pursuant to the exercise of outstanding options and warrants, including the Conditional Warrants. NexOptic insiders hold an aggregate of 36.9% of the issued and outstanding NexOptic Shares.

As a result of the Acquisition 3DB Inc. (“3DB“), a private company owned and controlled by John Daugela and Darcy Daugela (the “Daugelas“), has acquired an aggregate of 40,265,798 NexOptic Shares, representing 32.13% of the issued and outstanding NexOptic Shares, and an aggregate of 7,784,871 Conditional Warrants, representing 92% of the issued and outstanding Conditional Warrants, collectively representing 36.1% of the issued and outstanding number of NexOptic Shares post–Acquisition on a partially diluted basis. Prior to completion of the Acquisition, 3DB owned no NexOptic Shares or Conditional Warrants, while John Daugela owned 120,000 options of NexOptic.

The NexOptic securities referred to above were acquired for investment purposes in accordance with the terms of the Investment Agreement. The Daugelas and 3DB may increase or decrease their respective ownership or control of securities of NexOptic, directly or indirectly, from time to time depending upon, among other factors, market conditions and other relevant factors.

Portions of this press release are being issued pursuant to National Instrument 62–103 — The Early Warning System and Related Take–Over Bid and Insider Reporting Issues which requires an early warning report to be filed in connection with the Acquisition under NexOptic's profile on SEDAR ( containing additional information with respect to the foregoing acquisitions. A copy of the related early warning report in respect of the Acquisition will be available under NexOptic's profile on or by contacting Darcy Daugela at NexOptic's offices at (604) 669–7330.

To properly accommodate recent additions to NexOptic's Board of Directors, Mr. Garry Clark and Ms. Kerry Suffolk have agreed to resign from NexOptic's Board of Directors effective November 7, 2017. NexOptic wishes to sincerely thank both Mr. Clark and Ms. Suffolk for the significant contributions, dedication and professionalism that they both offered NexOptic during their long tenures with the company.

About NexOptic Technology Corp.

NexOptic is developing technologies relating to imagery and light concentration applications. Utilizing Blade Optics™, NexOptic's suite of optical technologies, NexOptic aims to increase aperture sizes within given depth constraints of various imaging and non–imaging optical applications. Blade Optics™ refers to Spectrum's lens designs, algorithms and mechanics which vary from patented, patent pending and includes all of Spectrum's intellectual property and know how.

Earlier this year, Spectrum completed its proof–of–concept digital telescope prototype that utilizes a patented Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum's Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications.

Benefits of Blade Optics™ Technology

The Companies believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional lens stacks:

  • Aperture size: Blade Optics™ may allow the aperture–to–depth ratio to be increased in depth–limited optical devices to permit increased resolution compared to conventional optical devices with similar depth.
  • Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.

NexOptic trades on the OTCQX under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301″ and Berlin as “E301.” More information is available at

On behalf of the Boards of Directors

NexOptic Technology Corp.
Paul McKenzie, President & CEO

Spectrum Optix Inc.
John Daugela, President & CEO

Frankfurt: E301
Berlin: E301

Corporate Addresses

NexOptic Technology Corp.

1450–700 West Georgia Street

Vancouver, B.C. V7Y 1K8

3DB Inc. (Incorporated in Alberta)

19 Wentworth Manor S.W.

Calgary, AB T3H 5K5

Forward Looking Statements

This press release contains forward–looking information and forward–looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its technology, the development of the prototype, the potential applications of Spectrum's technologies and the technology's potential market impacts. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward–looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the prototype development is at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum's technologies; the Companies may not be able complete the prototype as currently expected; the potential applications are based on limited studies and may not be representative of the broader market; the risk that the prototype may not achieve results expected by the Companies; the Companies may not be able to commercialize their technology even if the prototype is successful; NexOptic may not have access to necessary financing on acceptable terms or at all; and other risks inherent with the patent process, transactions of this type and the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward–looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Excellon Reports Third Quarter 2017 Financial Results and Updates to Board and Management

TORONTO, ON—(Marketwired – November 02, 2017) – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLF) (“Excellon” or the “Company”) is pleased to report financial results for the three and nine–month periods ended September 30, 2017.

Q3 2017 Financial and Operational Highlights (compared to Q3 2016)

  • Revenue increased 77% to $7.1 million (Q3 2016 – $4.0 million)
  • Production increased 96% to 500,763 silver equivalent (“AgEq”) ounces (Q3 2016 – 255,760 AgEq ounces)
  • Sales increased 95% to 443,921 AgEq ounces payable (Q3 2016 – 228,172 AgEq ounces payable)
  • Mine operating earnings of $1.5 million (Q3 2016 – loss of $0.1 million)
  • Production cost per tonne reduced by 30% to $208 (Q3 2016 – $298)
  • Total cash cost per silver ounce payable reduced by 80% to $2.46 (Q3 2016 – $17.95)
  • Adjusted all–in sustaining cost per Ag oz payable (“AISC”) reduced by 66% to $11.62 (Q3 2016 – $33.92), excluding the one–time sustaining capital expenditures associated with the Optimization Plan, with no adjustment in the current quarter
  • Adjusted net loss of $0.4 million or $0.00/share (Q3 2016 – adjusted net loss of $1.0 million or $0.01/share), excluding non–cash financing loss associated with outstanding convertible debentures (the “Debentures”) issued in November 2015
  • Net working capital totaled $4.9 million at September 30, 2017 (December 31, 2016 – $8.6 million)
  • Upsized C$13.25 million bought deal financing to accelerate exploration on the Platosa Property and Miguel Auza Project, announced on October 20, 2017
  • Appointment of Jacques McMullen, P.Eng. to the Board of Directors, with the retirement of Ned Goodman, and appointment of Nisha Hasan to Vice President Investor Relations

“The third quarter marked a turning point for La Platosa as we resumed generating cash flow and slashed all–in sustaining costs and mining cost per tonne,” stated Brendan Cahill, President and Chief Executive Officer. “We began amortizing the costs of the Optimization Plan completed in the second quarter resulting in increased depreciation expense, which has no impact on cash flow, but would otherwise have generated an adjusted net profit. With AISC below $12 at mining rates of 200 tonnes per day, we look forward to further improving results as we increase tonnage going into 2018. With our recently announced financing closing next week, we will also have a greatly improved balance sheet to pursue our exploration plans at Platosa and Miguel Auza.”

Financial Results

Financial results for the three and nine–month periods ended September 30, 2017 and 2016 as follows:

('000s of USD, except amounts per share and per ounce)   Q3 2017     Q3 2016     9–Mos 2017     9–Mos 2016  
Revenue (1)   7,102     4,009     14,085     13,640  
Production costs   (4,160 )   (3,577 )   (12,182 )   (10,287 )
Depletion and amortization   (1,426 )   (525 )   (2,554 )   (1,739 )
Cost of sales   (5,586 )   (4,102 )   (14,736 )   (12,026 )
Earnings (loss) from mining operations   1,516     (93 )   (651 )   1,614  
Corporate administration   (892 )   (944 )   (3,069 )   (2,263 )
Exploration   (382 )   (228 )   (1,564 )   (536 )
Other   (88 )   440     2,255     141  
Impairment of mineral rights               156  
Net finance cost   (5,974 )   (6,100 )   (3,082 )   (13,655 )
Income tax recovery   (87 )   (87 )   (1,133 )   527  
Net loss   (5,907 )   (7,012 )   (7,244 )   (14,016 )
Adjusted net income (loss) (2)(3)   (350 )   (1,035 )   (4,502 )   (919 )
Loss per share – basic   (0.08 )   (0.10 )   (0.10 )   (0.20 )
Adjusted profit (loss) per share – basic   (0.00 )   (0.01 )   (0.06 )   (0.01 )
Cash flow from (used in) operations (3)   1,464     (887 )   (1,270 )   (144 )
Cash flow from (used in) operations per share – basic   0.02     (0.01 )   (0.02 )   (0.00 )
Production cost per tonne (4)   208     298     266     250  
Cash cost per payable silver ounce ($/Ag oz)   2.46     17.95     12.22     12.24  
All–in sustaining cost (“AISC”) per silver ounce payable ($/Ag oz)   11.62     40.85     32.24     24.11  
Adjusted AISC per silver once payable (5)   11.62     33.92     24.59     20.52  
  (1)   Revenues are net of treatment and refining charges.
  (2)   Adjusted net loss reflects results before fair value adjustments on embedded derivatives and warrants related to the Debentures (Q3 2017 – $5.6 million loss; Q3 2016 – $6.0 million loss; 9–Mos 2017 – $2.7 million loss; 9–Mos 2016 – $13.3 million loss). The fair value adjustment derives from the performance of the Company's stock during each period (Q3 2017 – C$1.42 to C$2.03; Q3 2016 – C$1.23 to C$1.88; 9–Mos 2017 – C$1.64 to C$2.03; 9–Mos 2016 – C$0.31 to C$1.88), resulting in significant variances in valuation/cost upon the potential conversion or exercise of the Debentures or associated warrants, respectively.
  (3)   Adjusted net loss 9–Mos 2016 reflects results before a $0.2 million reversal of impairment on DeSantis Property sold in the period.
  (4)   Cash flow from operations before changes in working capital.
  (5)   Production cost per tonne includes mining and milling costs excluding depletion and amortization.
  (6)   Adjusted AISC per payable silver ounce excludes the relatively one–time sustaining capital expenditures associated with the Optimization Plan (associated cash expenditures were $nil in Q3 2017; $3.5 million during 9–Mos 2017; $1.0 million in Q3 2016; and $1.9 million during 9–Mos 2016).

During Q3 2017, net revenues increased by 77% to $7.1 million (Q3 2016 – $4.0 million) due to a 95% increase in AgEq payable ounces produced of 443,921 oz compared to 228,172 oz in Q3 2016. A lower realized silver price of $17.06 compared to $19.52 in Q3 2016 was offset by improved treatment and refining charges (“TC/RC”) under the 2017 offtake sales agreements.

Cost of sales, including depletion and amortization, increased by 36% compared to Q3 2016. The primary contributors to increased cost of sales were (i) depletion and amortization relating to the amortization of capital costs associated with the Optimization Plan and (ii) increased tonnage. Increased pumping rates associated with the Optimization Plan and an increase in electricity prices from $0.06/kwh to $0.08/kwh also resulted in nominal increases in electrical expense, though pumping efficiency increased by 36%. Due to pumping requirements, electrical consumption will continue to be a key driver of mining costs at Platosa. The Company is currently applying to become a “qualified user” under the recent energy reforms in Mexico, which will allow access to the private market for electricity and competitive unit costs per kWh.

Production costs improved significantly in the quarter to $208/tonne (Q3 2016 – $298/tonne), due to a 66% increase in tonnes milled, lower maintenance costs, the elimination of grouting activities and more efficient electrical utilization.

The Company recorded a net loss of $5.9 million in Q3 2017 (Q3 2016 – net loss of $7.0 million). The Company's adjusted net loss of $0.4 million in Q3 2017 reflects the period's results before recording a $5.6 million fair value adjustment loss (Q3 2016 – $6.0 million loss) on embedded derivative and warrants relating to the Debentures in accordance with IFRS as the Company's stock price increased from C$1.42 to C$2.03 (Q3 2016 – an increase from C$1.23 to C$1.88). Further contributors to the adjusted net loss included: (i) 172% increase in depletion and amortization as monthly amortization of capitalized costs of the Optimization Plan commenced during the quarter, and will continue to be amortized over the life of mine, (ii) 16% increase in cash cost of sales due to higher tonnage milled and (iii) increased exploration costs as drilling resumed at Platosa.

The Company spent $0.4 million on exploration in Q3 2017 (Q3 2016 – $0.2 million) as it continued the drilling programs at Platosa, with 732 metres drilled from underground.

Cash costs net of byproducts per silver ounce payable (or Total Cash Costs) of $2.46 significantly improved from $17.95 in Q3 2016, due to the increase in metal sold during the quarter following successful completion of the Optimization Plan in early July.

The Company's AISC per silver ounce payable of $11.62 (Q3 2016 – $40.85 and adjusted AISC of $33.92) in Q3 2017 resulted from higher tonnage and metal produced with the successful completion of the Optimization Plan. As the Optimization Plan is now complete, the Company has eliminated the “Adjusted AISC” metric in Q3 2017, which excludes one–time costs related to the Optimization Plan, but continues to report it for previous periods for comparative purposes. AISC is expected to continue to decrease as drier mining conditions are expected to allow for increased production at lower costs in the fourth quarter and going forward.

Excellon defines AISC per silver ounce as the sum of total cash costs (including treatment charges and net of by–product credits), capital expenditures that are sustaining in nature, corporate general and administrative costs (including non–cash share–based compensation), capitalized and expensed exploration that is sustaining in nature, and (non–cash) environmental reclamation costs, all divided by the total payable silver ounces sold during the period to arrive at a per ounce figure.

All financial information is prepared in accordance with IFRS, and all dollar amounts are expressed in U.S. dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company's unaudited condensed interim financial statements for the three and nine months ended September 30, 2017 and associated management discussion and analysis (“MD&A”) which are available from the Company's website at and under the Company's profile on SEDAR at

The discussion of financial results in this press release includes reference to “cash flows from operations before changes in working capital items”, “cash cost per silver ounce payable”, “AISC per payable AgEq ounce”, “adjusted AISC cost per silver ounce payable” and “adjusted net income (loss)” which are non– IFRS performance measures. The Company presents these measures to provide additional information regarding the Company's financial results and performance. Please refer to the Company's MD&A for the three and nine month periods ended September 30, 2017, for a reconciliation of these measures to reported IFRS results.

Production Highlights

Mine production for the periods indicated below were as follows:

        Q3   Q3   9–Mos   9–Mos
        2017(1)   2016(1)   2017(1)   2016(1)
Tonnes of ore produced   18,147   11,207   41,051   37,914
Tonnes of ore processed   19,953(5)   12,003(5)   45,764(5)   41,176(5)
Ore grades:                    
    Silver (g/t)   409   427   381   485
    Lead (%)   4.39   4.14   3.72   4.71
    Zinc (%)   6.10   5.49   5.10   6.01
    Silver (%)   87.6   90.4   88.9   90.7
    Lead (%)   81.8   82.1   81.2   82.4
    Zinc (%)   81.1   81.3   81.2   79.7
    Silver – (oz)   226,173   153,783   495,111   593,165
    AgEq ounces (oz) (2)   500,763   255,760   995,643   987,880
    Lead – (lb)   1,582,794   891,424   3,042,938   3,523,537
    Zinc – (lb)   2,172,685   1,169,029   4,162,027   4,333,038
Payable: (3)                
    Silver ounces – (oz)   205,414   138,472   460,969   541,408
    AgEq ounces (oz) (2)   443,921   228,172   909,576   891,922
    Lead – (lb)   1,498,421   839,967   2,963,589   3,351,979
    Zinc – (lb)   1,788,834   980,621   3,549,519   3,646,971
Realized prices: (4)                    
    Silver – ($US/oz)   17.06   19.52   16.96   17.76
    Lead – ($US/lb)   1.09   0.88   1.05   0.82
    Zinc – ($US/lb)   1.37   1.03   1.31   0.92
  (1)   Period deliveries remain subject to assay and price adjustments on final settlement with concentrate purchaser. Data has been adjusted to reflect final assay and price adjustments for prior period deliveries settled during the period.
  (2)   AgEq ounces established using average realized metal prices during the period indicated applied to the recovered metal content of the concentrates.
  (3)   Payable metal is based on the metals shipped and sold during the period and may differ from production due to these reasons.
  (4)   Average realized price is calculated on current period sale deliveries and does not include the impact of prior period provisional adjustments in the period.
  (5)   Low grade stockpile milled in recent periods were Q3 2017 – 2,582 tonnes; Q3 2016 – 760 tonnes; 9–Mos 2017 – 5,555 tonnes; and 9–Mos 2016 – 4,930 tonnes.

The Company completed the Optimization Plan in early Q2 2017 to comprehensively manage water at Platosa through an enhanced pumping system. Mining conditions began to improve materially in mid–May and particularly by late June as dry mining conditions were achieved allowing increased access to high–grade ore.

Development rates increased significantly during the quarter with 269 metres of ore development (an 84% increase over Q2 2017 – 146 metres) and 292 metres of waste development (a 39% increase over Q2 2017 – 210 metres). Development rates are expected to continue to increase going forward.

Production during July was particularly strong in Q3 2017, with a weaker August as increased development was necessary to set up a strong September. A primary ongoing goal of the operation is to ensure development is advanced expeditiously to enable consistent month–to–month production, which should improve quarterly production and financial results going forward.

The Company is currently producing from multiple headings on the Rodilla Manto, Pierna Manto and the connection between the Guadalupe South and 623 mantos. Development is currently driving towards the next levels of the Rodilla, Pierna, Guadalupe South and 623 mantos, all of which are expected to yield production during Q4 2017.

Board of Directors and Management Changes

The Company is pleased to announce the appointment of Jacques McMullen to its Board of Directors. Mr. McMullen is a Professional Engineer with over 35 years of senior leadership experience in the mining industry and has been directly involved with major capital projects including roles in operations, evaluations, corporate development for several mining companies. He spent the majority of his career working with Barrick Gold Corporation in various senior roles from 1994 to 2012, as well as serving as Director of Highland Gold Mining Ltd., IGE Resources AB, Fire River Gold Corp., Minera S.A., Orvana Minerals. He was also a Principal, Partner and non–executive Director of Mines and Metals with BBA, a private engineering firm. Mr. McMullen currently serves on the Board of Newcastle Gold Ltd., Cardinal Resources Ltd. and is an advisor to management at Detour Gold Corp. He is also the Principal of J. McMullen & Associates, a privately held consulting company. Mr. McMullen holds Master's Degree of Applied Sciences in Mineral Processing from Laval University.

The Company is also pleased to announce the promotion of Nisha Hasan to Vice President Investor Relations. Ms. Hasan held the position of Director Investor Relations from June 2013. She has 10 years of experience in the resource industry, most recently with Continental Gold Ltd. Over the course of her career, she has provided strategic counsel to several public and private companies of varying size and jurisdictions including, exploration to production stages and managed programs targeting institutional and retail investors, financial media and community and stakeholder engagement to develop increased visibility and sustainable liquidity. She sits on the Board of the Canadian Investor Relations Institute (CIRI) and the Board of the Down Syndrome Association of Toronto. Ms. Hasan holds a Bachelor of Arts Degree from Trent University.

Additionally, Mr. Ned Goodman has retired from the Board of Directors of the Company. Mr. Goodman has served on the board from April 2013 to February 2014 and rejoined following his resignation from Barrick Gold's board in July 2015. Mr. Goodman is a leading financier and company builder in the mining industry and has served on Excellon's board with distinction.

“We are privileged to welcome Jacques to the board,” stated André Fortier, Chairman. “Jacques brings a wealth of experience including, technical and strategic insights that are key during this transformational phase of growth at Excellon. His appointment complements the diverse nature of our board with now finance, operational, geological, and engineering capabilities.

Mr. Fortier continued, “With great regret we note the retirement of Ned Goodman from the Board of Directors. There is no greater champion of the mining industry and he has done more to ignite companies and discoveries than virtually any investor in the space. It has been a distinct honour and pleasure for us all to serve with him over the past years.”

“We are delighted to appoint Nisha Hasan as Vice President Investor Relations,” stated Brendan Cahill, President and Chief Executive Officer. “She has been an integral part of our team since joining us in 2013 and has been the key contributor in enhancing Excellon's public image in recent years.”

About Excellon

Excellon's 100%–owned Platosa Mine in Durango has been Mexico's highest–grade silver mine since production commenced in 2005. The Company is focused on optimizing the Platosa Mine's cost and production profile, discovering further high–grade silver and carbonate replacement deposit (CRD) mineralization on the Platosa Project and epithermal silver mineralization on the Miguel Auza Property and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin America.

Additional details on the La Platosa Mine and the rest of Excellon's exploration properties are available at

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, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, 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 [particularly silver], 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 and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and particularly the July 9, 2015 NI 43–101–compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the Platosa Property. 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.