11:12 AM EDT, 03/21/2025 (MT Newswires) -- Excellon Resources ( EXNRF ) on Friday said the latest assays from surface sampling at the Tres Cerros project in north-central Peru returned gold values of up to 9.313-grams per tonne of gold.

Silver grades over 1,000 g/t silver, the assay limit, were also identified in certain zones, highlighting the potential for robust precious-metal mineralization, Excellon added.

"We believe Tres Cerros has the potential to become a Tier 1 deposit in Peru, underscored by sampling and ground-based geophysics work completed to-date," said Chief Executive Shawn Howarth. "The similarities to the Lagunas Norte deposit underscore Tres Cerros as a rare early-stage opportunity, within a proven mineral belt. Our next steps include prioritizing drill targets and engaging extensively with local stakeholders to ensure responsible, transparent project development."

Excellon was last seen down $0.005 to $0.14 on the Toronto Stock Exchange.