Excellon Resources (EXNRF) 6-K 16 Nov 21 Current report (foreign) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2021
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-39491
Entity Registrant Name	EXCELLON RESOURCES INC.
Entity Central Index Key	0001263011
Entity Address, Address Line One	10 KING STREET EAST
Entity Address, Address Line Two	SUITE 200 TORONTO
Entity Address, City or Town	ONTARIO
Entity Address, Postal Zip Code	M5C 1C3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Position (Unaudited) $ in Thousands, $ in Thousands		Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Current assets
Cash and cash equivalents		$ 3,400	$ 8,380
Marketable securities and warrants		1,551	2,350
Trade receivables		479	1,782
VAT recoverable		3,305	5,573
Inventories		3,301	2,375
Other current assets		2,151	1,333
Total current assets		14,187	21,793
Non-current assets
Property, plant and equipment		25,564	25,830
Mineral rights		20,752	20,511
Deferred tax assets		532	5,145
Total assets	[1]	61,035	73,279
Current liabilities
Trade and other payables		8,211	8,172
VAT payable		1,357	3,415
Lease liabilities		244	405
Provision for litigation		22,175
Total current liabilities		31,987	11,992
Non-current liabilities
Convertible debentures		8,932	7,283
Provisions		2,410	2,208
Deferred tax liabilities		855	929
Lease liabilities		277	425
Total liabilities	[1]	44,461	22,837
Equity
Share capital		137,995	136,199
Contributed surplus		34,732	34,015
Accumulated other comprehensive loss		(15,434)	(15,380)
Deficit		(140,719)	(104,392)
Total equity		16,574	50,442
Total liabilities and equity		$ 61,035	$ 73,279
[1]	Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Profit or loss [abstract]
Revenue	$ 9,151	$ 9,857	$ 28,649	$ 16,105
Production costs	(5,567)	(5,875)	(17,533)	(13,994)
Depletion and amortization	(1,809)	(1,269)	(5,372)	(3,204)
Cost of sales	(7,376)	(7,144)	(22,905)	(17,198)
Gross profit (loss)	1,775	2,713	5,744	(1,093)
Administrative expenses	(1,067)	(1,078)	(3,662)	(3,167)
Share-based payment expenses	(286)	(296)	(1,414)	(1,582)
Amortization	(100)	(128)	(360)	(260)
General and administrative expenses	(1,453)	(1,502)	(5,436)	(5,009)
Exploration and holding expenses	(2,538)	(2,001)	(5,411)	(2,631)
Other expenses	(22,283)	(934)	(23,121)	(367)
Impairment loss	(752)		(752)
Finance expenses	(688)	(292)	(2,438)	(1,829)
Loss before income taxes	(25,939)	(2,016)	(31,414)	(10,929)
Income tax (expense) recovery	(4,921)	1,776	(4,913)	919
Net Loss	(30,860)	(240)	(36,327)	(10,010)
Items that may be reclassified subsequently to profit and loss:
Foreign currency translation differences	(236)	1,267	(54)	(5,379)
Total other comprehensive (loss) income	(236)	1,267	(54)	(5,379)
Total comprehensive (loss) income	$ (31,096)	$ 1,027	$ (36,381)	$ (15,389)
Loss per share
Basic and diluted	$ (0.94)	$ (0.01)	$ (1.12)	$ (0.36)
Weighted average number of shares
Basic and diluted	32,784,967	31,743,702	32,520,297	27,757,750

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash flow generated by (used in)
Net loss for the period	$ (30,860)	$ (240)	$ (36,327)	$ (10,010)
Adjustments for non-cash items:
Depletion and amortization	1,909	1,392	5,732	3,401
Income tax expense (recovery)	4,921	(1,882)	4,913	(895)
Share-based payment expenses	286	356	1,414	1,497
Interest and accretion expense	744	659	2,512	1,106
Unrealized (gain) loss on currency hedges		(346)	21	673
Loss on disposal of mineral rights				188
Unrealized loss (gain) on marketable securities and purchase warrants	12	276	816	(1,407)
Discount on shares issued to settle payables		122		196
Provision for litigation	22,277		22,277
Impairment loss	752		752
Taxes paid	(50)	(114)	(219)	(262)
Operating cash flows before changes in working capital	(9)	223	1,891	(5,513)
Changes in non-cash working capital
Trade receivables	1,252	(2,467)	1,242	(189)
VAT recoverable	1,071	(166)	2,198	(845)
Inventories	(318)	600	(970)	252
Other assets	169	(210)	(953)	163
Trade and other payables	(813)	483	(257)	576
VAT payable	(864)	377	(2,019)	722
Net cash generated by (used in) operating activities	488	(1,160)	1,132	(4,834)
Investing activities
Purchase of property, plant and equipment	(2,248)	(1,812)	(5,761)	(5,454)
Purchase of mineral rights	(79)	(68)	(154)	(68)
Transaction costs paid on acquisition of Otis Gold Corp.				(1,723)
Payments received under earn-in agreement			75
Loan to Otis Gold Corp., net of cash received on acquisition				(304)
Net cash used in investing activities	(2,327)	(1,880)	(5,840)	(7,549)
Financing activities
Proceeds from issuance of Convertible Debt		12,761		12,761
Proceeds from Credit Facility				5,871
Repayment of Credit Facility		(6,000)		(6,000)
Proceeds from options and warrants exercised		187	36	311
Lease payments	(110)	(97)	(322)	(196)
Interest paid	(10)	(140)	(36)	(423)
Net cash (used in) from financing activities	(120)	6,711	(322)	12,324
Effect of exchange rate changes on cash and cash equivalents	(117)	(128)	50	893
Change in cash and cash equivalents	(2,076)	3,543	(4,980)	834
Cash and cash equivalents - beginning of the period	5,476	3,635	8,380	6,344
Cash and cash equivalents - end of the period	$ 3,400	$ 7,178	$ 3,400	$ 7,178

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Issued capital [member]	Share premium [member]	Other reserves [member]	Retained earnings [member]	Total
Balance - January 1, 2021 at Dec. 31, 2019	$ 114,840	$ 28,730	$ (13,006)	$ (88,372)	$ 42,192
IfrsStatementLineItems [Line Items]
Net loss for the period				(10,010)	(10,010)
Total other comprehensive loss			(5,379)		(5,379)
Total comprehensive loss			(5,379)	(10,010)	(15,389)
Acquisition of Otis Gold Corp.	16,370	594			16,964
Shares issued as part of Credit Facility	180				180
Shares issued to settle payables	1,738				1,738
Value of services recognized	508	162			670
Value of units recognized	1,626	(497)			1,129
Value of warrants issued with Convertible Debentures		1,001			1,001
Proceeds on issuing shares	8	(2)			6
Value of shares issued in asset acquisition	246				246
Value of conversion options on Convertible Debentures		3,815			3,815
Balance - September 30, 2021 at Sep. 30, 2020	135,516	33,803	(18,385)	(98,382)	52,552
Balance - January 1, 2021 at Dec. 31, 2020	136,199	34,015	(15,380)	(104,392)	50,442
IfrsStatementLineItems [Line Items]
Net loss for the period				(36,327)	(36,327)
Total other comprehensive loss			(54)		(54)
Total comprehensive loss			(54)	(36,327)	(36,381)
Value of services recognized		427			427
Proceeds on issuing shares	54	(18)			36
Value of units recognized		987			987
Value of shares issued in asset acquisition	336				336
Interest payable settled with shares	727				727
Balance - September 30, 2021 at Sep. 30, 2021	137,995	34,732	(15,434)	(140,719)	16,574
IfrsStatementLineItems [Line Items]
Shares issued on exercise of RSUs and DSUs	$ 679	$ (679)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Disclosure of associates [abstract]
BASIS OF PRESENTATION	1. GENERAL INFORMATION Excellon Resources Inc. (the “Company” or “Excellon”) is a silver mining and exploration company listed on the Toronto Stock Exchange (the “TSX”), NYSE American, LLC exchange (the “NYSE American”) under the symbol EXN and the Frankfurt Stock Exchange under the symbol E4X2. Excellon’s vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high quality advanced exploration gold project in Idaho; 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. On April 2, 2020, the Company announced a temporary suspension of mining, milling and exploration activities at its Mexican operations in accordance with the Mexican Presidential Order to mitigate the spread of COVID-19 (the “Suspension”). The Suspension impacted all industries considered non-essential across Mexico. For the Company, the Suspension resulted in the suspension of mining operations, though essential care and maintenance activities required at the Companies operations were permitted to continue. At Platosa, such essential care and maintenance included ongoing labour costs and water pumping to maintain water levels of the mine, incurring a cost during the Suspension of approximately $ 3,300 On April 22, 2020, the Company completed the acquisition of Otis Gold Corp. (“Otis”) by way of a statutory plan of arrangement resulting in Otis becoming a wholly-owned subsidiary of Excellon. In September 2020, the Company completed a consolidation of its common shares at a ratio of five pre-consolidation common shares for one post-consolidation common share effective September 10, 2020, and the listing of its common shares on the NYSE American, LLC exchange effective September 23, 2020. As a result of the consolidation, shares issuable pursuant to the Company’s outstanding options, warrants, restricted share units and other convertible securities were proportionally adjusted on the same basis. All common share numbers, numbers of shares issuable under stock options, warrants and restricted share units and related per share amounts in these consolidated condensed financial statements have been retrospectively adjusted to reflect the share consolidation. Excellon is domiciled in Canada and incorporated under the laws of the province of Ontario. The address of its registered office is 10 King Street East, Suite 200, Toronto, Ontario, M5C 1C3, Canada. These condensed consolidated financial statements were approved by the Board of Directors on November 15, 2021. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) 2. BASIS OF PRESENTATION a) Statement of compliance and going concern The Company prepares its condensed consolidated financial statements in accordance with International Accounting Standard 34, Interim Financial Reporting These condensed consolidated financial statements are prepared on a going concern basis, which assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. Statement of Financial Position 5.0 3.2 1.4 0.4 The Company applies judgment in assessing the future impact of the Provision for litigation, going concern uncertainties including management’s assessment that the Judgment is solely against San Pedro as the defendant, potential insolvency proceedings of San Pedro, potential event of default under the Indenture, the Plaintiff having no recourse to the Company’s other assets, COVID-19 on its business and operations, future commodity prices, and continued access to debt and/or equity financing. After considering these judgments, management has concluded that there are no material uncertainties related to events or conditions that may cast significant doubt upon the Company’s ability to continue as a going concern. In making this assessment, management does not foresee any significant cash outflow from Excellon or San Pedro concerning the Judgment. Management anticipates that the Company will have sufficient cash resources to fund the next 12 months of planned expenditures and discharge its liabilities in the normal course of operations. b) Summary of significant accounting policies, judgments, and estimates These condensed consolidated financial statements have been prepared using the same accounting policies, methods of computation, judgments and estimates as the annual consolidated financial statements of the Company as at and for the year ended December 31, 2020. Certain comparatives in the statement of cash flow have been reclassified to conform with the current period classification. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

MARKETABLE SECURITIES AND WARRA

MARKETABLE SECURITIES AND WARRANTS	9 Months Ended
	Sep. 30, 2021
Marketable Securities And Warrants
MARKETABLE SECURITIES AND WARRANTS	3. MARKETABLE SECURITIES AND WARRANTS In 2018, the Company entered into an option agreement to farm-out its Beschefer property to Wallbridge Mining Company Ltd. (“Wallbridge”, TSX:WM), receiving an initial consideration of 500,000 3,000,000 500,000 1.00 five years The Wallbridge Shares and Wallbridge Warrants are measured at fair value with changes recorded in other income/expense. SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES AND WARRANTS September 30 December 31 2021 2020 $ $ Marketable securities at fair value Opening balance 2,138 348 Additions - 995 Unrealized (loss) gain on revaluation (696 ) 645 Exchange differences 15 150 Closing balance 1,457 2,138 Warrants at fair value Opening balance 212 - Additions - 128 Unrealized (loss) gain on revaluation (120 ) 67 Exchange differences 2 17 Closing balance 94 212 Marketable securities and warrants 1,551 2,350

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2021
Schedule Of Inventories Details
INVENTORIES	4. INVENTORIES SCHEDULE OF INVENTORIES September 30 December 31 2021 2020 $ $ Ore stockpiles (1) 701 453 Concentrate inventory (1) 567 4 Materials and supplies 2,033 1,918 3,301 2,375 (1) Change in inventories recorded in cost of sales (Note 14.a) excludes currency translation adjustment of $ 19 for the nine months ended September 30, 2021. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Assets Right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ At January 1, 2020 Cost 31,774 16,887 6,160 5,071 1,646 61,538 Accumulated amortization (20,198 ) (11,267 ) (5,036 ) - (219 ) (36,720 ) Opening net book value 11,576 5,620 1,124 5,071 1,427 24,818 Year ended December 31, 2020 Opening net book value 11,576 5,620 1,124 5,071 1,427 24,818 Additions 1,416 1,873 673 3,658 48 7,668 Reclassification 4,046 3,333 - (7,325 ) (54 ) - Depletion and amortization (2,191 ) (2,101 ) (298 ) - (202 ) (4,792 ) Exchange differences (2) (377 ) 164 (503 ) (882 ) (266 ) (1,864 ) Closing net book value 14,470 8,889 996 522 953 25,830 At December 31, 2020 Cost 36,400 21,576 6,075 522 1,640 66,213 Accumulated amortization (21,930 ) (12,687 ) (5,079 ) - (687 ) (40,383 ) Opening net book value 14,470 8,889 996 522 953 25,830 Period ended September 30, 2021 Opening net book value 14,470 8,889 996 522 953 25,830 Additions (1) 3,350 308 214 2,599 13 6,484 Reclassification 1,435 382 18 (1,835 ) - - Impairment (3) (90 ) (386 ) (233 ) (43 ) - (752 ) Depletion and amortization (3,207 ) (1,964 ) (213 ) - (181 ) (5,565 ) Exchange differences (2) (266 ) (139 ) (15 ) (10 ) (3 ) (433 ) Closing net book value 15,692 7,090 767 1,233 782 25,564 At September 30, 2021 Cost 40,546 21,506 5,968 1,233 1,650 70,903 Accumulated amortization (24,854 ) (14,416 ) (5,201 ) - (868 ) (45,339 ) Closing net book value 15,692 7,090 767 1,233 782 25,564 (1) During the nine months ended September 30, 2021, the Company incurred $ 2,599 2,931 (2) Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate. (3) Refer to Note 12 – Provision for Litigation. As a result of the Judgment, the Company performed an impairment test on the Miguel Auza processing facility (held in San Pedro) and the Platosa Mine CGUs as of September 30, 2021. The recoverable amounts were calculated using the value in use method and estimated based on discounted future cash flows. The recoverable amount of the Platosa Mine was estimated to exceed the carrying amount of the CGU. The discounted cash flows for the Miguel Auza processing facility have been adjusted to reflect risks related to the Judgment. The other key assumptions used in making this assessment included forecast tonnes delivered from Platosa, forecast third party toll-milling tonnes and rates, operating and maintenance costs, and the discount rate. A discount rate of 10% was estimated based on the Company’s weighted average cost of capital. As a result, an impairment loss of $ 752 525 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

MINERAL RIGHTS

MINERAL RIGHTS	9 Months Ended
	Sep. 30, 2021
Mineral Rights
MINERAL RIGHTS	6. MINERAL RIGHTS SCHEDULE OF MINERAL RIGHTS Platosa Beschefer Silver City (1) Kilgore (2) Oakley (3) Platosa Beschefer Silver City Kilgore Oakley (Mexico) (Canada) (Germany) (1) (Idaho) (2) (Idaho) (3) Total $ $ $ $ $ $ At January 1, 2020 Cost 3,785 1,428 245 - - 5,458 Accumulated amortization (2,782 ) - - - - (2,782 ) Opening net book value 1,003 1,428 245 - - 2,676 Year ended December 31, 2020 Opening net book value 1,003 1,428 245 - - 2,676 Additions - - 317 13,756 5,364 19,437 Payments received under earn-in agreement Disposals - (1,348 ) - - - (1,348 ) Depletion and amortization (178 ) - - - - (178 ) Exchange differences (21 ) (80 ) 25 - - (76 ) Closing net book value 804 - 587 13,756 5,364 20,511 At December 31, 2020 Cost 3,721 - 587 13,756 5,364 23,428 Accumulated amortization (2,917 ) - - - - (2,917 ) Opening net book value 804 - 587 13,756 5,364 20,511 Period ended September 30, 2021 Opening net book value 804 - 587 13,756 5,364 20,511 Additions - - 490 - - 490 Payments received under earn-in agreement - - - - (75 ) (75 ) Depletion and amortization (167 ) - - - - (167 ) Exchange differences (5 ) - (2 ) - - (7 ) Closing net book value 632 - 1,075 13,756 5,289 20,752 At September 30, 2021 Cost 3,694 - 1,075 13,756 5,289 23,814 Accumulated amortization (3,062 ) - - - - (3,062 ) Closing net book value 632 - 1,075 13,756 5,289 20,752 (1) On September 24, 2019 the Company signed an option agreement (the “Globex Agreement”) with Globex Mining Enterprises Inc. (“Globex”) to acquire a 100% 500 1,600 3% 2.5% reduced by 1% upon a payment of $1,500 Additional one-time payments of C$300 and C$700 will be made by the Company following any future announcement of a maiden resource on the property and upon achievement of commercial production from the project, respectively. 232,240 425 100 415 625 200 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) In March 2021, the Frauenstein, Mohorn and Oederan exploration licenses were granted to the Company following applications to the Sächsisches Oberbergamt (Saxon Mining Authority), increasing the Silver City ground position by 17,600 hectares. (2) On April 22, 2020, the Company acquired the Kilgore Gold Project as part of the Otis acquisition. The Company has a 100% (3) On April 22, 2020, the Company acquired 100% ● Blue Hill Creek (“BHC”) – 44 unpatented federal lode mining claims and an adjacent 80 acre Idaho state lease, subject to a 2% net smelter returns (“NSR”) royalty on gold. ● Matrix Creek – 61 unpatented federal lode mining claims and a 320 acre mineral lease, subject to a 2% NSR on gold. The NSRs at BHC and Matrix Creek can be purchased for a total of $2,000. ● Cold Creek – 117 unpatented federal lode mining claims. On February 26, 2020, Otis entered into a definitive option agreement with Centerra Gold Inc. (“Centerra”) whereby Centerra can earn up to a 70% interest in the Oakley Project in exchange for total exploration expenditures of $ 7,000 550 In Q1 2021, the Company received a payment of $ 75

INCOME TAX

INCOME TAX	9 Months Ended
	Sep. 30, 2021
INCOME TAX	7. INCOME TAX The Company recognized deferred tax assets of $ 5,145 1,231 326 3,056 42.1

TRADE AND OTHER PAYABLES

TRADE AND OTHER PAYABLES	9 Months Ended
	Sep. 30, 2021
Trade And Other Payables
TRADE AND OTHER PAYABLES	8. TRADE AND OTHER PAYABLES The Company’s payables comprise trade payables, accruals and other payables as at September 30, 2021. Trade payables comprise $ 4,248 of the $ 8,211 balance (as at December 31, 2020 $ 4,252 of the $ 8,172 balance), of which $ 2,432 relate to operations in Mexico (as at December 31, 2020 – $ 2,429 ). Accruals and other payables of $ 3,963 (as at December 31, 2020 – $ 3,920 ) include administrative and operating costs, accounting and legal services, income taxes and statutory payroll withholding taxes. Trade payables and accruals related to property, plant and equipment additions totaled $ 561 at September 30, 2021 (December 31, 2020 – $ 173 ). Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

PROVISIONS

PROVISIONS	9 Months Ended
	Sep. 30, 2021
Provisions [abstract]
PROVISIONS	9. PROVISIONS SCHEDULE OF PROVISIONS benefits (1) provision (2) Total Post-retirement Rehabilitation benefits (1) provision (2) Total $ $ $ Year ended December 31, 2020 Opening balance 617 1,626 2,243 Termination payments (113 ) - (113 ) Change in estimate 233 - 233 Accretion for the period 40 61 101 Change on reorganization Exchange differences (125 ) (131 ) (256 ) Closing balance 652 1,556 2,208 Period ended September 30, 2021 Opening balance 652 1,556 2,208 Termination payments (57 ) - (57 ) Change in estimate - 147 147 Accretion for the period 184 59 243 Change on reorganization (3) (90 ) - (90 ) Exchange differences (11 ) (30 ) (41 ) Closing balance 678 1,732 2,410 (1) Post-retirement benefits: The Company provides post-retirement benefit supplements as well as leaving indemnities to employees at the Mexican operations. Under Mexican labour law, the Company provides statutorily mandated severance benefits to its employees terminated under certain circumstances. Key financial assumptions used in the above estimate include an annual discount rate of 6.50% 4.86% 3.75% 3.75% 5.31% 5.31% three years (2) Rehabilitation provision: Key financial assumptions used in the above estimate include an annual discount rate of 6.22% 4.73% three years 2,075 1,087 988 (3) In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company and revalued, resulting in a net reduction in the provision. Also refer to Note 12 for the Provision for litigation that was recognized in the three- and nine-month periods ended September 30, 2021.

CONVERTIBLE DEBENTURES

CONVERTIBLE DEBENTURES	9 Months Ended
	Sep. 30, 2021
Convertible Debentures
CONVERTIBLE DEBENTURES	10. CONVERTIBLE DEBENTURES On July 30, 2020, the Company closed a private placement (the “Financing”) of secured convertible debentures (the “Debentures”) for total proceeds of C$ 17.91 The Debentures have a term of 36 months and are convertible into common shares of the Company prior to maturity at a conversion price of C$ 5.30 per common share. The Debentures bear interest at an annual rate of 5.75% , payable in cash semi-annually. Interest on the Debentures may alternatively be paid in common shares of the Company at the Company’s option based on the 10-day volume-weighted average price (“VWAP”) of the common shares prior to the payment date and an effective annual rate of 10% . The Debentures are secured against the Company’s assets in Mexico - please refer to Note 2 Basis of presentation. On or after July 30, 2022 and prior to maturity, the Company may accelerate the conversion of the entire issuance of Debentures, provided that the 20-day VWAP of the common shares on or after such 24-month anniversary is equal to or greater than C$ 12.50 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) The purchasers of the Debentures were also issued 1,006,542 5.75 136,887 5.75 July 30, 2023 Net proceeds from the Debentures were C$ 17.1 12.8 768 572 8,459 6,298 36 5.75% 6,382 4,751 2,301 1,713 The debt component is recorded at amortized cost and is accreted to the principal amount over the term of the Debentures. The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments in common shares valued at C$ 754 588 888 727 2,969 2,380 SUMMARY OF DEBT COMPONENT $ CAD $ USD Year ended December 31, 2020 Opening balance - - Proceeds on issuance of Debenture 17,910 13,334 Transaction costs paid (768 ) (572 ) Portion allocated to equity - conversion option and other features (8,683 ) (6,464 ) Interest expense 1,594 1,222 Value of shares issued to settle interest payable (754 ) (588 ) Exchange differences - 351 Closing balance 9,299 7,283 Period ended September 30, 2021 Opening balance 9,299 7,283 Interest expense 2,969 2,380 Value of shares issued to settle interest payable (888 ) (727 ) Exchange differences - (4 ) Closing balance 11,380 8,932 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Sep. 30, 2021
Disclosure of classes of share capital [abstract]
SHARE CAPITAL	11. SHARE CAPITAL The Company’s authorized share capital consists of an unlimited number of common shares. SCHEDULE OF AUTHORIZED SHARE CAPITAL Number of shares (000’s) $ Year ended December 31, 2020 Opening balance 22,491 114,840 Shares issued on exercise of stock options 261 602 Shares issued on exercise of RSUs and DSUs 382 1,627 Shares issued on exercise of warrants 2 8 Shares issued on acquisition of Otis Gold Corp (1) 8,131 16,370 Shares issued as part of Credit Facility (2) 107 180 Shares issued to settle payables (3) 671 1,738 Value of shares issued in asset acquisition (4) 66 246 Shares issued to settle interest on convertible debentures (5) 228 588 Balance at December 31, 2020 32,339 136,199 Period ended September 30, 2021 Opening balance 32,339 136,199 Shares issued on exercise of stock options 15 55 Shares issued on exercise of RSUs and DSUs 183 678 Value of shares issued in asset acquisition (4) 232 336 Shares issued to settle interest on convertible debentures (5) 286 727 Balance at September 30, 2021 33,055 137,995 (1) On April 22, 2020, the Company completed the acquisition of Otis. Otis shareholders received 0.046 8,130,630 2.85 (2) On March 16, 2020, the Company closed a $ 6,000 bridge-loan credit facility (the “Credit Facility”) with Sprott Private Resource Lending II (Collector), LP (“Sprott Lending”). The Credit Facility bore interest of 10% per annum, compounded and payable monthly, and was due and payable in full on or before September 14, 2020. In consideration for the Credit Facility, Excellon issued 107,291 common shares to Sprott Lending. The Company repaid the Credit Facility on August 4, 2020 on the closing of the Financing (Note 10). (3) During the second and third quarters of 2020, the Company issued 670,974 2,098 196 261 (4) On September 21, 2020 and in accordance with the Globex Agreement, the second issuance of 65,657 325 100 232,240 425 100 (5) The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments on the Debentures (Note 10) in common shares valued at C$ 754 ($ 588 ) and C$ 888 ($ 727 ) respectively. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) The outstanding number and weighted average exercise prices of equity-settled Stock Options, Warrants, Deferred Share Units (“DSUs”) and Restricted Share Units (“RSUs”) are as follows: SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES Options Warrants Options Outstanding Weighted Average Exercise Price (CAD) Warrants Outstanding (2) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2020 461,000 5.59 1,092,500 7.00 572,485 467,572 Granted/issued/acquired (1) 1,002,395 3.34 1,448,488 5.23 337,331 217,264 Exercised/settled (260,596 ) 1.93 (2,400 ) 3.45 (224,750 ) (193,507 ) Expired (332,359 ) 5.20 - - (91,332 ) - Forfeited (23,004 ) 4.26 - - (128,223 ) - Outstanding at December 31, 2020 847,437 4.21 2,538,588 6.00 465,511 491,330 Exercisable at December 31, 2020 548,009 4.52 2,538,588 6.00 - 98,417 Outstanding at January 1, 2021 847,437 4.21 2,538,588 6.00 465,511 491,330 Granted/issued 212,500 4.14 - - 428,562 199,353 Exercised/settled (15,000 ) 3.05 - - (41,117 ) (146,068 ) Expired (59,450 ) 4.75 (1,092,400 ) 7.00 - - Forfeited (27,584 ) 3.72 - - (29,000 ) - Outstanding at September 30, 2021 957,903 4.20 1,446,188 5.24 823,956 544,615 Exercisable at September 30, 2021 757,944 4.32 1,446,188 5.24 - 98,417 (1) On April 22, 2020, the Company issued 531,895 305,060 130,365 July 22, 2020 (2) The Company has the following warrants outstanding: ● 302,760 3.30 March 29, 2022 ● 1,143,428 warrants with an exercise price of C$ 5.75 , expiring on July 30, 2023 (Note 10). On August 27, 2021, 1,092,400 7.00 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) Options outstanding and exercisable are as follows: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Range (CAD) Stock Options Outstanding Weighted Average Remaining Contractual Life (years) Stock Options Exercisable Weighted Average $ 2.00 3.99 426,787 1.89 333,912 2.99 $ 4.00 5.99 440,116 2.61 333,032 4.54 $ 6.00 7.99 15,000 0.66 15,000 7.63 $ 8.00 9.99 76,000 0.93 76,000 8.51 957,903 2.12 757,944 4.32 Compensation expense is recognized over the vesting period of the grant with the corresponding equity impact recorded in contributed surplus. Share-based compensation expense comprises the following: SCHEDULE OF SHARE BASED COMPENSATION EXPENSE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Stock options 82 127 427 367 RSU 152 110 439 691 DSU 52 59 548 524 286 296 1,414 1,582

PROVISION FOR LITIGATION

PROVISION FOR LITIGATION	9 Months Ended
	Sep. 30, 2021
PROVISION FOR LITIGATION	12. PROVISION FOR LITIGATION The Company is defending a legal claim against a subsidiary of the Company which is party to an action by a claimant in respect of damages under a property agreement regarding the La Antigua mineral concession (“La Antigua”), a non-material mineral concession within the Evolución Project. La Antigua is subject to an exploration and exploitation agreement with a purchase option (the “Antigua Agreement”) dated December 3, 2006 between San Pedro Resources SA de CV (“San Pedro”, now a subsidiary of Excellon) and the owner (the “Plaintiff”) that provides, among other things, for a minimum payment of $ 2.5 plus value added tax per month and the payment of a 3% NSR royalty. Pursuant to the Antigua Agreement, San Pedro has the right to purchase absolute title to La Antigua including the NSR royalty upon payment of $ 500 . San Pedro was under no contractual obligation to put the mine into production and has not done so. The Plaintiff was initially awarded damages of $700 in the court of first instance in Torreón, Coahuila. Both San Pedro and the Plaintiff appealed the decision to the Second District State Court in the Judicial District of Torreón. That Court confirmed the initial decision but, subsequently, pursuant to an order obtained by the Plaintiff, granted the Plaintiff an award of $22,175 (the “Judgment”), which in the view of management is multiple times greater than any income the applicable NSR royalty could produce even in the event of commercial production. San Pedro’s appeal of this decision to the federal courts of Mexico was dismissed on July 1, 2021, a decision that was formally communicated to the Company in August 2021, and as the Judgment is not subject to further legal appeal in Mexico, the Company has recorded a Provision for litigation of $ 22,175 The Judgment is solely against San Pedro as defendant and the Company believes that the Plaintiff has no recourse against the Company’s other assets in Mexico (including Platosa), Idaho, Saxony or Canada. San Pedro is a wholly-owned, indirect subsidiary of the Company that holds the Miguel Auza processing facility and the original Miguel Auza mineral concessions, including the Evolución mineral resource. The book value of San Pedro’s assets included in the consolidated Statement of Financial Position of the Company is $ 5.0 3.2 1.4 0.4 The Company continues to pursue avenues through our labour, community and government relationships and is investigating remedies under international law. In the interim, San Pedro continues to operate in the ordinary course and there is currently no impact to the operation of the Company’s business. As of the date of approval of these financial statements, San Pedro has not received any notice that the Plaintiff has initiated any insolvency proceedings or any enforcement proceedings that could result in San Pedro losing control of the toll milling operations. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2021
Revenue [abstract]
REVENUE	13. REVENUE Under the terms of the Company’s concentrate sales contracts, lead–silver and zinc–silver concentrates are sold on a provisional pricing basis whereby sales are recognized at prevailing metal prices when the revenue recognition criteria have been met, namely when title and the risks and rewards of ownership have transferred to the customer. Final pricing of each delivery is not determined until one to three months post-delivery. The price recorded at the time of sale may differ from the actual final price received from the customer due to changes in market prices for metals. The price volatility is considered an embedded derivative in accounts receivable. The embedded derivative is recorded at fair value by mark-to-market adjustments at each reporting period until settlement occurs, with the changes in fair value recorded in revenues. The Company recognized the following amounts related to revenue: SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Concentrate revenue from contracts with customers (1) 9,451 9,518 28,736 16,049 Provisional pricing adjustments on concentrate sales (1) (300 ) 339 (87 ) (440 ) Revenue from toll milling services - - - 496 Total revenue 9,151 9,857 28,649 16,105 (1) Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revision for the three and nine months ended September 30, 2020, are an increase in revenue of $ 190 1,068 The following table sets out the disaggregation of revenue by metal and form of sale: SCHEDULE OF DISAGGREGATION OF REVENUE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Concentrate revenue: Silver 5,882 6,699 18,496 10,043 Lead 1,457 1,273 4,215 2,378 Zinc 1,812 1,885 5,938 3,188 Revenue from toll milling services - - - 496 Total revenue 9,151 9,857 28,649 16,105 The Company has offtake agreements with Trafigura Mexico, S.A. de C.V. (“Trafigura”), a subsidiary within the Trafigura group of companies. Due to the availability of alternative processing and commercialization options for its concentrate, the Company believes it would suffer no material adverse effect if it lost the services of Trafigura. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

EXPENSES BY NATURE

EXPENSES BY NATURE	9 Months Ended
	Sep. 30, 2021
Expenses By Nature
EXPENSES BY NATURE	14. EXPENSES BY NATURE (a) Cost of sales consist of the following: SCHEDULE OF COST OF SALES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Direct mining and milling costs (1) 5,992 5,125 18,362 13,904 Changes in inventories (2) (425 ) 750 (829 ) (144 ) Depletion and amortization 1,809 1,269 5,372 3,204 Toll milling costs - - - 234 Cost of sales 7,376 7,144 22,905 17,198 (1) Direct mining and milling costs include personnel, general and administrative, fuel, electricity, maintenance and repair costs as well as operating supplies, external services and transport fees. (2) Changes in inventories reflect the net cost of ore and concentrate (i) sold during the current period but produced in a previous period (an addition to direct mining and milling costs) or (ii) produced but not sold in the current period (a deduction from direct mining and milling costs). (b) Administrative expenses consist of the following: SCHEDULE OF ADMINISTRATIVE EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Office and overhead 517 468 1,742 1,133 Salaries and wages 395 308 1,537 1,377 Corporate development and legal 115 245 227 519 Public company costs 40 57 156 138 Administrative expenses 1,067 1,078 3,662 3,167 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) (c) Other expenses consist of the following: SCHEDULE OF OTHER EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Unrealized (gain) loss on marketable securities (Note 3) (2 ) 236 696 (1,244 ) Unrealized loss (gain) on purchase warrants (Note 3) 14 40 120 (163 ) Loss on disposal of assets - - - 188 Unrealized foreign exchange (gain) loss (1) (53 ) 634 219 1,507 Realized foreign exchange loss (gain) 22 (2 ) (134 ) 8 Provision for litigation (Note 12) 22,277 - 22,277 - Interest income (1 ) (10 ) (5 ) (41 ) Shares issued at a discount to settle payables - 122 - 196 Management fee income (Note 6) (45 ) (39 ) (112 ) (58 ) Other 71 (47 ) 60 (26 ) Other expenses 22,283 934 23,121 367 (1) Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revisions for the three and nine months ended September 30, 2020 are an increase to Other expense of $ 190 1,068

EXPLORATION AND HOLDING EXPENSE

EXPLORATION AND HOLDING EXPENSES	9 Months Ended
	Sep. 30, 2021
Exploration And Holding Expenses
EXPLORATION AND HOLDING EXPENSES	15. EXPLORATION AND HOLDING EXPENSES Exploration and holding expenses were incurred on the following projects: SCHEDULE OF EXPLORATION AND HOLDING EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Platosa property (Mexico) - exploration work (1) 305 153 1,559 187 - holding costs 50 43 149 134 Evolución (Mexico) - exploration work 61 183 195 344 - holding costs 72 53 216 185 Silver City (Germany) - exploration work 1,423 911 2,142 1,083 - holding costs (2) - - - - Kilgore (USA) - exploration work 497 528 1,020 568 - holding costs 130 130 130 130 Exploration and holding expenses 2,538 2,001 5,411 2,631 (1) Platosa property exploration excludes underground drilling at the Platosa Mine which is capitalized to Property, plant and equipment (Note 5). (2) There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 6 for capitalized earn-in payments under the Globex Agreement. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

FINANCE EXPENSES

FINANCE EXPENSES	9 Months Ended
	Sep. 30, 2021
Finance Expenses
FINANCE EXPENSES	16. FINANCE EXPENSES Finance expenses consist of the following: SCHEDULE OF FINANCE EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Interest expense - Debentures 748 365 2,380 365 Interest expense - other 25 255 69 742 Rehabilitation provision - accretion 22 16 59 46 Post-retirement benefits - accretion 11 2 27 3 Post-retirement benefits - transfer (1) (118 ) - (118 ) - Unrealized (gain) loss on currency hedges - (346 ) 21 673 Finance expenses 688 292 2,438 1,829 (1) In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company resulting in a net reduction in the provision on revaluation.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2021
Disclosure of nature and extent of risks arising from financial instruments [abstract]
FINANCIAL INSTRUMENTS	17. FINANCIAL INSTRUMENTS Fair Values of non-derivative financial instruments All financial assets and financial liabilities, other than derivatives, are initially recognized at the fair value of consideration paid or received, net of transaction costs, as appropriate, and are subsequently carried at fair value or amortized cost. At September 30, 2021, the carrying amounts of trade and other payables and other current assets are considered to be reasonable approximations of their respective fair values due to the short-term nature of these instruments. The methods and assumptions used in estimating the fair value of other financial assets and liabilities are as follows: Embedded derivatives – provisional pricing Revenues from the sale of metals produced are based on provisional prices at the time of shipment. Variations between the price recorded at the time of sale and the actual final price received from the customer are caused by changes in market prices for metals sold and final settlement weights and assays, which result in an embedded derivative in accounts receivable. The embedded derivative is recorded at fair value each reporting period until settlement occurs, with the changes in fair value recorded to revenues. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) Fair Value Hierarchy The three levels of the fair value hierarchy are as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and ● Level 3 – Inputs that are not based on observable market data SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY September 30 December 31 Fair value 2021 2020 hierarchy $ $ Financial assets Fair value through profit and loss Marketable securities Level 1 1,457 2,138 Warrants Level 2 94 212 Trade receivables Level 2 479 1,782 Forward foreign exchange contracts Level 2 - 21 2,030 4,153 There were no transfers between levels 1, 2 or 3 during the nine months ended September 30, 2021. Valuation techniques and inputs used to determine fair values include: ● Marketable securities – the use of quoted market prices ● Warrants – based on a Black-Scholes model which uses quoted observable inputs ● Provisional pricing receivables – key inputs are payable metal and future metal prices, marked-to-market based on a quoted forward price and final settlement weights and assays ● Forward foreign currency contracts – present value of future cash flows based on the forward exchange rates at the balance sheet date

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2021
Segment Reporting
SEGMENT REPORTING	18. SEGMENT REPORTING SCHEDULE OF SEGMENT REPORTING MEXICO CORPORATE TOTAL September 30 December 31 September 30 December 31 September 30 December 31 2021 2020 2021 2020 2021 2020 $ $ $ $ $ $ Property, plant and equipment 24,855 24,877 709 953 25,564 25,830 Additions - Property, plant and equipment 6,471 7,620 13 48 6,484 7,668 Mineral rights 635 804 20,117 19,707 20,752 20,511 Additions - Mineral rights - - 490 19,437 490 19,437 Total assets (1) 34,961 40,897 26,074 32,382 61,035 73,279 Total liabilities (1) 31,621 11,959 12,840 10,878 44,461 22,837 (1) Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ MEXICO Revenue 9,151 9,857 28,649 16,105 Cost of sales (7,376 ) (7,144 ) (22,905 ) (17,198 ) General and administrative expenses Exploration and holding expenses (488 ) (432 ) (2,119 ) (850 ) Other expenses (Note 12) (22,246 ) (916 ) (22,362 ) (1,805 ) Impairment loss (Note 5) (752 ) - (752 ) - Finance income (expenses) 73 969 (1 ) (80 ) Income tax (expense) recovery (4,843 ) 115 (4,918 ) (694 ) Net income (loss) (26,481 ) 2,449 (24,408 ) (4,522 ) CORPORATE General and administrative expenses (1,453 ) (1,502 ) (5,436 ) (5,009 ) Exploration and holding expenses (2,050 ) (1,569 ) (3,292 ) (1,781 ) Other expenses (37 ) (18 ) (759 ) 1,438 Other income (expense) (37 ) (18 ) (759 ) 1,438 Finance expenses (761 ) (1,261 ) (2,437 ) (1,749 ) Finance income (expense) (761 ) (1,261 ) (2,437 ) (1,749 ) Income tax (expense) recovery (78 ) 1,661 5 1,613 Net loss (4,379 ) (2,689 ) (11,919 ) (5,488 ) Net loss (30,860 ) (240 ) (36,327 ) (10,010 ) Net income (loss) (30,860 ) (240 ) (36,327 ) (10,010 )

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2021
Disclosure of associates [abstract]
2. BASIS OF PRESENTATION	2. BASIS OF PRESENTATION a) Statement of compliance and going concern The Company prepares its condensed consolidated financial statements in accordance with International Accounting Standard 34, Interim Financial Reporting These condensed consolidated financial statements are prepared on a going concern basis, which assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. Statement of Financial Position 5.0 3.2 1.4 0.4 The Company applies judgment in assessing the future impact of the Provision for litigation, going concern uncertainties including management’s assessment that the Judgment is solely against San Pedro as the defendant, potential insolvency proceedings of San Pedro, potential event of default under the Indenture, the Plaintiff having no recourse to the Company’s other assets, COVID-19 on its business and operations, future commodity prices, and continued access to debt and/or equity financing. After considering these judgments, management has concluded that there are no material uncertainties related to events or conditions that may cast significant doubt upon the Company’s ability to continue as a going concern. In making this assessment, management does not foresee any significant cash outflow from Excellon or San Pedro concerning the Judgment. Management anticipates that the Company will have sufficient cash resources to fund the next 12 months of planned expenditures and discharge its liabilities in the normal course of operations. b) Summary of significant accounting policies, judgments, and estimates These condensed consolidated financial statements have been prepared using the same accounting policies, methods of computation, judgments and estimates as the annual consolidated financial statements of the Company as at and for the year ended December 31, 2020. Certain comparatives in the statement of cash flow have been reclassified to conform with the current period classification. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data)

MARKETABLE SECURITIES AND WAR_2

MARKETABLE SECURITIES AND WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2021
Marketable Securities And Warrants
SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES AND WARRANTS	The Wallbridge Shares and Wallbridge Warrants are measured at fair value with changes recorded in other income/expense. SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES AND WARRANTS September 30 December 31 2021 2020 $ $ Marketable securities at fair value Opening balance 2,138 348 Additions - 995 Unrealized (loss) gain on revaluation (696 ) 645 Exchange differences 15 150 Closing balance 1,457 2,138 Warrants at fair value Opening balance 212 - Additions - 128 Unrealized (loss) gain on revaluation (120 ) 67 Exchange differences 2 17 Closing balance 94 212 Marketable securities and warrants 1,551 2,350

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule Of Inventories Details
SCHEDULE OF INVENTORIES	SCHEDULE OF INVENTORIES September 30 December 31 2021 2020 $ $ Ore stockpiles (1) 701 453 Concentrate inventory (1) 567 4 Materials and supplies 2,033 1,918 3,301 2,375 (1) Change in inventories recorded in cost of sales (Note 14.a) excludes currency translation adjustment of $ 19 for the nine months ended September 30, 2021.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT	SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Assets Right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ At January 1, 2020 Cost 31,774 16,887 6,160 5,071 1,646 61,538 Accumulated amortization (20,198 ) (11,267 ) (5,036 ) - (219 ) (36,720 ) Opening net book value 11,576 5,620 1,124 5,071 1,427 24,818 Year ended December 31, 2020 Opening net book value 11,576 5,620 1,124 5,071 1,427 24,818 Additions 1,416 1,873 673 3,658 48 7,668 Reclassification 4,046 3,333 - (7,325 ) (54 ) - Depletion and amortization (2,191 ) (2,101 ) (298 ) - (202 ) (4,792 ) Exchange differences (2) (377 ) 164 (503 ) (882 ) (266 ) (1,864 ) Closing net book value 14,470 8,889 996 522 953 25,830 At December 31, 2020 Cost 36,400 21,576 6,075 522 1,640 66,213 Accumulated amortization (21,930 ) (12,687 ) (5,079 ) - (687 ) (40,383 ) Opening net book value 14,470 8,889 996 522 953 25,830 Period ended September 30, 2021 Opening net book value 14,470 8,889 996 522 953 25,830 Additions (1) 3,350 308 214 2,599 13 6,484 Reclassification 1,435 382 18 (1,835 ) - - Impairment (3) (90 ) (386 ) (233 ) (43 ) - (752 ) Depletion and amortization (3,207 ) (1,964 ) (213 ) - (181 ) (5,565 ) Exchange differences (2) (266 ) (139 ) (15 ) (10 ) (3 ) (433 ) Closing net book value 15,692 7,090 767 1,233 782 25,564 At September 30, 2021 Cost 40,546 21,506 5,968 1,233 1,650 70,903 Accumulated amortization (24,854 ) (14,416 ) (5,201 ) - (868 ) (45,339 ) Closing net book value 15,692 7,090 767 1,233 782 25,564 (1) During the nine months ended September 30, 2021, the Company incurred $ 2,599 2,931 (2) Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate. (3) Refer to Note 12 – Provision for Litigation. As a result of the Judgment, the Company performed an impairment test on the Miguel Auza processing facility (held in San Pedro) and the Platosa Mine CGUs as of September 30, 2021. The recoverable amounts were calculated using the value in use method and estimated based on discounted future cash flows. The recoverable amount of the Platosa Mine was estimated to exceed the carrying amount of the CGU. The discounted cash flows for the Miguel Auza processing facility have been adjusted to reflect risks related to the Judgment. The other key assumptions used in making this assessment included forecast tonnes delivered from Platosa, forecast third party toll-milling tonnes and rates, operating and maintenance costs, and the discount rate. A discount rate of 10% was estimated based on the Company’s weighted average cost of capital. As a result, an impairment loss of $ 752 525

MINERAL RIGHTS (Tables)

MINERAL RIGHTS (Tables)	9 Months Ended
	Sep. 30, 2021
Mineral Rights
SCHEDULE OF MINERAL RIGHTS	SCHEDULE OF MINERAL RIGHTS Platosa Beschefer Silver City (1) Kilgore (2) Oakley (3) Platosa Beschefer Silver City Kilgore Oakley (Mexico) (Canada) (Germany) (1) (Idaho) (2) (Idaho) (3) Total $ $ $ $ $ $ At January 1, 2020 Cost 3,785 1,428 245 - - 5,458 Accumulated amortization (2,782 ) - - - - (2,782 ) Opening net book value 1,003 1,428 245 - - 2,676 Year ended December 31, 2020 Opening net book value 1,003 1,428 245 - - 2,676 Additions - - 317 13,756 5,364 19,437 Payments received under earn-in agreement Disposals - (1,348 ) - - - (1,348 ) Depletion and amortization (178 ) - - - - (178 ) Exchange differences (21 ) (80 ) 25 - - (76 ) Closing net book value 804 - 587 13,756 5,364 20,511 At December 31, 2020 Cost 3,721 - 587 13,756 5,364 23,428 Accumulated amortization (2,917 ) - - - - (2,917 ) Opening net book value 804 - 587 13,756 5,364 20,511 Period ended September 30, 2021 Opening net book value 804 - 587 13,756 5,364 20,511 Additions - - 490 - - 490 Payments received under earn-in agreement - - - - (75 ) (75 ) Depletion and amortization (167 ) - - - - (167 ) Exchange differences (5 ) - (2 ) - - (7 ) Closing net book value 632 - 1,075 13,756 5,289 20,752 At September 30, 2021 Cost 3,694 - 1,075 13,756 5,289 23,814 Accumulated amortization (3,062 ) - - - - (3,062 ) Closing net book value 632 - 1,075 13,756 5,289 20,752 (1) On September 24, 2019 the Company signed an option agreement (the “Globex Agreement”) with Globex Mining Enterprises Inc. (“Globex”) to acquire a 100% 500 1,600 3% 2.5% reduced by 1% upon a payment of $1,500 Additional one-time payments of C$300 and C$700 will be made by the Company following any future announcement of a maiden resource on the property and upon achievement of commercial production from the project, respectively. 232,240 425 100 415 625 200 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) In March 2021, the Frauenstein, Mohorn and Oederan exploration licenses were granted to the Company following applications to the Sächsisches Oberbergamt (Saxon Mining Authority), increasing the Silver City ground position by 17,600 hectares. (2) On April 22, 2020, the Company acquired the Kilgore Gold Project as part of the Otis acquisition. The Company has a 100% (3) On April 22, 2020, the Company acquired 100%

PROVISIONS (Tables)

PROVISIONS (Tables)	9 Months Ended
	Sep. 30, 2021
Provisions [abstract]
SCHEDULE OF PROVISIONS	SCHEDULE OF PROVISIONS benefits (1) provision (2) Total Post-retirement Rehabilitation benefits (1) provision (2) Total $ $ $ Year ended December 31, 2020 Opening balance 617 1,626 2,243 Termination payments (113 ) - (113 ) Change in estimate 233 - 233 Accretion for the period 40 61 101 Change on reorganization Exchange differences (125 ) (131 ) (256 ) Closing balance 652 1,556 2,208 Period ended September 30, 2021 Opening balance 652 1,556 2,208 Termination payments (57 ) - (57 ) Change in estimate - 147 147 Accretion for the period 184 59 243 Change on reorganization (3) (90 ) - (90 ) Exchange differences (11 ) (30 ) (41 ) Closing balance 678 1,732 2,410 (1) Post-retirement benefits: The Company provides post-retirement benefit supplements as well as leaving indemnities to employees at the Mexican operations. Under Mexican labour law, the Company provides statutorily mandated severance benefits to its employees terminated under certain circumstances. Key financial assumptions used in the above estimate include an annual discount rate of 6.50% 4.86% 3.75% 3.75% 5.31% 5.31% three years (2) Rehabilitation provision: Key financial assumptions used in the above estimate include an annual discount rate of 6.22% 4.73% three years 2,075 1,087 988 (3) In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company and revalued, resulting in a net reduction in the provision.

CONVERTIBLE DEBENTURES (Tables)

CONVERTIBLE DEBENTURES (Tables)	9 Months Ended
	Sep. 30, 2021
Convertible Debentures
SUMMARY OF DEBT COMPONENT	SUMMARY OF DEBT COMPONENT $ CAD $ USD Year ended December 31, 2020 Opening balance - - Proceeds on issuance of Debenture 17,910 13,334 Transaction costs paid (768 ) (572 ) Portion allocated to equity - conversion option and other features (8,683 ) (6,464 ) Interest expense 1,594 1,222 Value of shares issued to settle interest payable (754 ) (588 ) Exchange differences - 351 Closing balance 9,299 7,283 Period ended September 30, 2021 Opening balance 9,299 7,283 Interest expense 2,969 2,380 Value of shares issued to settle interest payable (888 ) (727 ) Exchange differences - (4 ) Closing balance 11,380 8,932

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure of classes of share capital [abstract]
SCHEDULE OF AUTHORIZED SHARE CAPITAL	The Company’s authorized share capital consists of an unlimited number of common shares. SCHEDULE OF AUTHORIZED SHARE CAPITAL Number of shares (000’s) $ Year ended December 31, 2020 Opening balance 22,491 114,840 Shares issued on exercise of stock options 261 602 Shares issued on exercise of RSUs and DSUs 382 1,627 Shares issued on exercise of warrants 2 8 Shares issued on acquisition of Otis Gold Corp (1) 8,131 16,370 Shares issued as part of Credit Facility (2) 107 180 Shares issued to settle payables (3) 671 1,738 Value of shares issued in asset acquisition (4) 66 246 Shares issued to settle interest on convertible debentures (5) 228 588 Balance at December 31, 2020 32,339 136,199 Period ended September 30, 2021 Opening balance 32,339 136,199 Shares issued on exercise of stock options 15 55 Shares issued on exercise of RSUs and DSUs 183 678 Value of shares issued in asset acquisition (4) 232 336 Shares issued to settle interest on convertible debentures (5) 286 727 Balance at September 30, 2021 33,055 137,995 (1) On April 22, 2020, the Company completed the acquisition of Otis. Otis shareholders received 0.046 8,130,630 2.85 (2) On March 16, 2020, the Company closed a $ 6,000 bridge-loan credit facility (the “Credit Facility”) with Sprott Private Resource Lending II (Collector), LP (“Sprott Lending”). The Credit Facility bore interest of 10% per annum, compounded and payable monthly, and was due and payable in full on or before September 14, 2020. In consideration for the Credit Facility, Excellon issued 107,291 common shares to Sprott Lending. The Company repaid the Credit Facility on August 4, 2020 on the closing of the Financing (Note 10). (3) During the second and third quarters of 2020, the Company issued 670,974 2,098 196 261 (4) On September 21, 2020 and in accordance with the Globex Agreement, the second issuance of 65,657 325 100 232,240 425 100 (5) The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments on the Debentures (Note 10) in common shares valued at C$ 754 ($ 588 ) and C$ 888 ($ 727 ) respectively.
SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES	The outstanding number and weighted average exercise prices of equity-settled Stock Options, Warrants, Deferred Share Units (“DSUs”) and Restricted Share Units (“RSUs”) are as follows: SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES Options Warrants Options Outstanding Weighted Average Exercise Price (CAD) Warrants Outstanding (2) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2020 461,000 5.59 1,092,500 7.00 572,485 467,572 Granted/issued/acquired (1) 1,002,395 3.34 1,448,488 5.23 337,331 217,264 Exercised/settled (260,596 ) 1.93 (2,400 ) 3.45 (224,750 ) (193,507 ) Expired (332,359 ) 5.20 - - (91,332 ) - Forfeited (23,004 ) 4.26 - - (128,223 ) - Outstanding at December 31, 2020 847,437 4.21 2,538,588 6.00 465,511 491,330 Exercisable at December 31, 2020 548,009 4.52 2,538,588 6.00 - 98,417 Outstanding at January 1, 2021 847,437 4.21 2,538,588 6.00 465,511 491,330 Granted/issued 212,500 4.14 - - 428,562 199,353 Exercised/settled (15,000 ) 3.05 - - (41,117 ) (146,068 ) Expired (59,450 ) 4.75 (1,092,400 ) 7.00 - - Forfeited (27,584 ) 3.72 - - (29,000 ) - Outstanding at September 30, 2021 957,903 4.20 1,446,188 5.24 823,956 544,615 Exercisable at September 30, 2021 757,944 4.32 1,446,188 5.24 - 98,417 (1) On April 22, 2020, the Company issued 531,895 305,060 130,365 July 22, 2020 (2) The Company has the following warrants outstanding: ● 302,760 3.30 March 29, 2022 ● 1,143,428 warrants with an exercise price of C$ 5.75 , expiring on July 30, 2023 (Note 10). On August 27, 2021, 1,092,400 7.00
SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE	Options outstanding and exercisable are as follows: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Range (CAD) Stock Options Outstanding Weighted Average Remaining Contractual Life (years) Stock Options Exercisable Weighted Average $ 2.00 3.99 426,787 1.89 333,912 2.99 $ 4.00 5.99 440,116 2.61 333,032 4.54 $ 6.00 7.99 15,000 0.66 15,000 7.63 $ 8.00 9.99 76,000 0.93 76,000 8.51 957,903 2.12 757,944 4.32
SCHEDULE OF SHARE BASED COMPENSATION EXPENSE	Compensation expense is recognized over the vesting period of the grant with the corresponding equity impact recorded in contributed surplus. Share-based compensation expense comprises the following: SCHEDULE OF SHARE BASED COMPENSATION EXPENSE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Stock options 82 127 427 367 RSU 152 110 439 691 DSU 52 59 548 524 286 296 1,414 1,582

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue [abstract]
SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE	The Company recognized the following amounts related to revenue: SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Concentrate revenue from contracts with customers (1) 9,451 9,518 28,736 16,049 Provisional pricing adjustments on concentrate sales (1) (300 ) 339 (87 ) (440 ) Revenue from toll milling services - - - 496 Total revenue 9,151 9,857 28,649 16,105 (1) Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revision for the three and nine months ended September 30, 2020, are an increase in revenue of $ 190 1,068
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table sets out the disaggregation of revenue by metal and form of sale: SCHEDULE OF DISAGGREGATION OF REVENUE Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Concentrate revenue: Silver 5,882 6,699 18,496 10,043 Lead 1,457 1,273 4,215 2,378 Zinc 1,812 1,885 5,938 3,188 Revenue from toll milling services - - - 496 Total revenue 9,151 9,857 28,649 16,105

EXPENSES BY NATURE (Tables)

EXPENSES BY NATURE (Tables)	9 Months Ended
	Sep. 30, 2021
Expenses By Nature
SCHEDULE OF COST OF SALES	(a) Cost of sales consist of the following: SCHEDULE OF COST OF SALES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Direct mining and milling costs (1) 5,992 5,125 18,362 13,904 Changes in inventories (2) (425 ) 750 (829 ) (144 ) Depletion and amortization 1,809 1,269 5,372 3,204 Toll milling costs - - - 234 Cost of sales 7,376 7,144 22,905 17,198 (1) Direct mining and milling costs include personnel, general and administrative, fuel, electricity, maintenance and repair costs as well as operating supplies, external services and transport fees. (2) Changes in inventories reflect the net cost of ore and concentrate (i) sold during the current period but produced in a previous period (an addition to direct mining and milling costs) or (ii) produced but not sold in the current period (a deduction from direct mining and milling costs).
SCHEDULE OF ADMINISTRATIVE EXPENSES	(b) Administrative expenses consist of the following: SCHEDULE OF ADMINISTRATIVE EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Office and overhead 517 468 1,742 1,133 Salaries and wages 395 308 1,537 1,377 Corporate development and legal 115 245 227 519 Public company costs 40 57 156 138 Administrative expenses 1,067 1,078 3,662 3,167
SCHEDULE OF OTHER EXPENSES	(c) Other expenses consist of the following: SCHEDULE OF OTHER EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Unrealized (gain) loss on marketable securities (Note 3) (2 ) 236 696 (1,244 ) Unrealized loss (gain) on purchase warrants (Note 3) 14 40 120 (163 ) Loss on disposal of assets - - - 188 Unrealized foreign exchange (gain) loss (1) (53 ) 634 219 1,507 Realized foreign exchange loss (gain) 22 (2 ) (134 ) 8 Provision for litigation (Note 12) 22,277 - 22,277 - Interest income (1 ) (10 ) (5 ) (41 ) Shares issued at a discount to settle payables - 122 - 196 Management fee income (Note 6) (45 ) (39 ) (112 ) (58 ) Other 71 (47 ) 60 (26 ) Other expenses 22,283 934 23,121 367 (1) Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revisions for the three and nine months ended September 30, 2020 are an increase to Other expense of $ 190 1,068

EXPLORATION AND HOLDING EXPEN_2

EXPLORATION AND HOLDING EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2021
Exploration And Holding Expenses
SCHEDULE OF EXPLORATION AND HOLDING EXPENSES	Exploration and holding expenses were incurred on the following projects: SCHEDULE OF EXPLORATION AND HOLDING EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Platosa property (Mexico) - exploration work (1) 305 153 1,559 187 - holding costs 50 43 149 134 Evolución (Mexico) - exploration work 61 183 195 344 - holding costs 72 53 216 185 Silver City (Germany) - exploration work 1,423 911 2,142 1,083 - holding costs (2) - - - - Kilgore (USA) - exploration work 497 528 1,020 568 - holding costs 130 130 130 130 Exploration and holding expenses 2,538 2,001 5,411 2,631 (1) Platosa property exploration excludes underground drilling at the Platosa Mine which is capitalized to Property, plant and equipment (Note 5). (2) There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 6 for capitalized earn-in payments under the Globex Agreement.

FINANCE EXPENSES (Tables)

FINANCE EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2021
Finance Expenses
SCHEDULE OF FINANCE EXPENSES	Finance expenses consist of the following: SCHEDULE OF FINANCE EXPENSES Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ Interest expense - Debentures 748 365 2,380 365 Interest expense - other 25 255 69 742 Rehabilitation provision - accretion 22 16 59 46 Post-retirement benefits - accretion 11 2 27 3 Post-retirement benefits - transfer (1) (118 ) - (118 ) - Unrealized (gain) loss on currency hedges - (346 ) 21 673 Finance expenses 688 292 2,438 1,829 (1) In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company resulting in a net reduction in the provision on revaluation.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure of nature and extent of risks arising from financial instruments [abstract]
SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY	SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY September 30 December 31 Fair value 2021 2020 hierarchy $ $ Financial assets Fair value through profit and loss Marketable securities Level 1 1,457 2,138 Warrants Level 2 94 212 Trade receivables Level 2 479 1,782 Forward foreign exchange contracts Level 2 - 21 2,030 4,153

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting
SCHEDULE OF SEGMENT REPORTING	SCHEDULE OF SEGMENT REPORTING MEXICO CORPORATE TOTAL September 30 December 31 September 30 December 31 September 30 December 31 2021 2020 2021 2020 2021 2020 $ $ $ $ $ $ Property, plant and equipment 24,855 24,877 709 953 25,564 25,830 Additions - Property, plant and equipment 6,471 7,620 13 48 6,484 7,668 Mineral rights 635 804 20,117 19,707 20,752 20,511 Additions - Mineral rights - - 490 19,437 490 19,437 Total assets (1) 34,961 40,897 26,074 32,382 61,035 73,279 Total liabilities (1) 31,621 11,959 12,840 10,878 44,461 22,837 (1) Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2021 and 2020 (in thousands of U.S. dollars, except share and per share data) Three months ended Nine months ended September 30 September 30 September 30 September 30 2021 2020 2021 2020 $ $ $ $ MEXICO Revenue 9,151 9,857 28,649 16,105 Cost of sales (7,376 ) (7,144 ) (22,905 ) (17,198 ) General and administrative expenses Exploration and holding expenses (488 ) (432 ) (2,119 ) (850 ) Other expenses (Note 12) (22,246 ) (916 ) (22,362 ) (1,805 ) Impairment loss (Note 5) (752 ) - (752 ) - Finance income (expenses) 73 969 (1 ) (80 ) Income tax (expense) recovery (4,843 ) 115 (4,918 ) (694 ) Net income (loss) (26,481 ) 2,449 (24,408 ) (4,522 ) CORPORATE General and administrative expenses (1,453 ) (1,502 ) (5,436 ) (5,009 ) Exploration and holding expenses (2,050 ) (1,569 ) (3,292 ) (1,781 ) Other expenses (37 ) (18 ) (759 ) 1,438 Other income (expense) (37 ) (18 ) (759 ) 1,438 Finance expenses (761 ) (1,261 ) (2,437 ) (1,749 ) Finance income (expense) (761 ) (1,261 ) (2,437 ) (1,749 ) Income tax (expense) recovery (78 ) 1,661 5 1,613 Net loss (4,379 ) (2,689 ) (11,919 ) (5,488 ) Net loss (30,860 ) (240 ) (36,327 ) (10,010 ) Net income (loss) (30,860 ) (240 ) (36,327 ) (10,010 )

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Reserve Quantities [Line Items]
Labour costs		$ 3,300
Assets	[1]	61,035	$ 73,279
Property, plant and equipment		25,564	$ 25,830	$ 24,818
San Pedro [Member]
Reserve Quantities [Line Items]
Assets		5,000
Property, plant and equipment		3,200
[custom:ValueAddedTaxRecoverable-0]		1,400
Other financial assets		$ 400
[1]	Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382

SCHEDULE OF FAIR VALUE OF MARKE

SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES AND WARRANTS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Marketable Securities And Warrants
Marketable securities at fair value, opening balance	$ 2,138	$ 348
Marketable securities at fair value, additions		995
Marketable securities at fair value, unrealized (loss) gain on revaluation	(696)	645
Marketable securities at fair value, exchange differences	15	150
Marketable securities at fair value, closing balance	1,457	2,138
Warrants at fair value, opening balance	212
Warrants at fair value, additions		128
Warrants at fair value, unrealized (loss) gain on revaluation	(120)	67
Warrants at fair value, exchange differences	2	17
Warrants at fair value, closing balance	94	212
Marketable securities and warrants	$ 1,551	$ 2,350

MARKETABLE SECURITIES AND WAR_3

MARKETABLE SECURITIES AND WARRANTS (Details Narrative) - Wallbridge Mining Company Ltd [Member] - $ / shares	Mar. 17, 2020	Dec. 31, 2018
Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Initial consideration of marketable securities		500,000
Amended Agreement [Member]
IfrsStatementLineItems [Line Items]
Additional number of shares received	3,000,000
Warrant term	5 years
Amended Agreement [Member] | Warrants [Member]
IfrsStatementLineItems [Line Items]
Warrant shares	500,000
Warrant strike price	$ 1

SCHEDULE OF INVENTORIES (Detail

SCHEDULE OF INVENTORIES (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Inventories		$ 3,301	$ 2,375
Ore Stockpiles [Member]
IfrsStatementLineItems [Line Items]
Inventories	[1]	701	453
Concentrate Inventory [Member]
IfrsStatementLineItems [Line Items]
Inventories	[1]	567	4
Materials and Supplies [Member]
IfrsStatementLineItems [Line Items]
Inventories		$ 2,033	$ 1,918
[1]	Change in inventories recorded in cost of sales (Note 14.a) excludes currency translation adjustment of $ 19 for the nine months ended September 30, 2021.

SCHEDULE OF INVENTORIES (Deta_2

SCHEDULE OF INVENTORIES (Details) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Schedule Of Inventories Details
Currency translation adjustment	$ 19

SCHEDULE OF PROPERTY, PLANT AND

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended			12 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021		Sep. 30, 2020	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Cost				$ 66,213		$ 61,538	$ 61,538
Accumulated amortization				(40,383)		(36,720)	(36,720)
Opening net book value				25,830		24,818	24,818
Additions				6,484	[1]		7,668
Reclassification
Depletion and amortization				(5,565)			(4,792)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(433)			(1,864)
Closing net book value		$ 25,564		25,564			25,830
Impairment (3)		(752)		(752)
Cost		70,903		70,903			66,213
Accumulated amortization		(45,339)		(45,339)			(40,383)
Mining Properties [Member]
IfrsStatementLineItems [Line Items]
Cost				36,400		31,774	31,774
Accumulated amortization				(21,930)		(20,198)	(20,198)
Opening net book value				14,470		11,576	11,576
Additions				3,350	[1]		1,416
Reclassification				1,435			4,046
Depletion and amortization				(3,207)			(2,191)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(266)			(377)
Closing net book value		15,692		15,692			14,470
Impairment (3)				(90)
Cost		40,546		40,546			36,400
Accumulated amortization		(24,854)		(24,854)			(21,930)
Mining Equipment [Member]
IfrsStatementLineItems [Line Items]
Cost				21,576		16,887	16,887
Accumulated amortization				(12,687)		(11,267)	(11,267)
Opening net book value				8,889		5,620	5,620
Additions				308	[1]		1,873
Reclassification				382			3,333
Depletion and amortization				(1,964)			(2,101)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(139)			164
Closing net book value		7,090		7,090			8,889
Impairment (3)				(386)
Cost		21,506		21,506			21,576
Accumulated amortization		(14,416)		(14,416)			(12,687)
Processing Equipment [Member]
IfrsStatementLineItems [Line Items]
Cost				6,075		6,160	6,160
Accumulated amortization				(5,079)		(5,036)	(5,036)
Opening net book value				996		1,124	1,124
Additions				214	[1]		673
Reclassification				18
Depletion and amortization				(213)			(298)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(15)			(503)
Closing net book value		767		767			996
Impairment (3)				(233)
Cost		5,968		5,968			6,075
Accumulated amortization		(5,201)		(5,201)			(5,079)
Assets Under Construction [Member]
IfrsStatementLineItems [Line Items]
Cost				522		5,071	5,071
Accumulated amortization
Opening net book value				522		5,071	5,071
Additions				2,599	[1]		3,658
Reclassification				(1,835)			(7,325)
Depletion and amortization
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(10)			(882)
Closing net book value		1,233		1,233			522
Impairment (3)				(43)
Cost		1,233		1,233			522
Accumulated amortization
Right-of-use assets [member]
IfrsStatementLineItems [Line Items]
Cost				1,640		1,646	1,646
Accumulated amortization				(687)		(219)	(219)
Opening net book value				953		$ 1,427	1,427
Additions				13	[1]		48
Reclassification							(54)
Depletion and amortization				(181)			(202)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]			(3)			(266)
Closing net book value		782		782			953
Impairment (3)
Cost		1,650		1,650			1,640
Accumulated amortization		$ (868)		$ (868)			$ (687)
[1]	During the nine months ended September 30, 2021, the Company incurred $ 2,599 2,931
[2]	Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate.

SCHEDULE OF PROPERTY, PLANT A_2

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reserve Quantities [Line Items]
Sustaining capital expenditures incurred	$ 2,599	$ 2,931	$ 2,599	$ 2,931
Impairment loss	$ 752		752
San Pedro [Member]
Reserve Quantities [Line Items]
Impairment loss			752
San Pedro [Member] | Third Party [Member]
Reserve Quantities [Line Items]
Impairment loss			$ 525

SCHEDULE OF MINERAL RIGHTS (Det

SCHEDULE OF MINERAL RIGHTS (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Cost				$ 23,428	$ 5,458	$ 5,458
Accumulated amortization				(2,917)	(2,782)	(2,782)
Opening net book value				20,511	2,676	2,676
Additions				490		19,437
Payments received under earn-in agreement				(75)
Disposals						(1,348)
Depletion and amortization				(167)		(178)
Exchange differences				(7)		(76)
Closing net book value		20,752		20,752		20,511
Cost		23,814		23,814		23,428
Accumulated amortization		(3,062)		(3,062)		(2,917)
Mineral Rights Platosa Mexico [Member]
IfrsStatementLineItems [Line Items]
Cost				3,721	3,785	3,785
Accumulated amortization				(2,917)	(2,782)	(2,782)
Opening net book value				804	1,003	1,003
Additions
Payments received under earn-in agreement
Disposals
Depletion and amortization				(167)		(178)
Exchange differences				(5)		(21)
Closing net book value		632		632		804
Cost		3,694		3,694		3,721
Accumulated amortization		(3,062)		(3,062)		(2,917)
Mineral Rights Beschefer Canada [Member]
IfrsStatementLineItems [Line Items]
Cost					1,428	1,428
Accumulated amortization
Opening net book value					1,428	1,428
Additions
Payments received under earn-in agreement
Disposals						(1,348)
Depletion and amortization
Exchange differences						(80)
Closing net book value
Cost
Accumulated amortization
Mineral Rights Silver City Germany [Member]
IfrsStatementLineItems [Line Items]
Cost	[1]			587	245	245
Accumulated amortization	[1]
Opening net book value	[1]			587	245	245
Additions	[1]			490		317
Payments received under earn-in agreement	[1]
Disposals	[1]
Depletion and amortization	[1]
Exchange differences	[1]			(2)		25
Closing net book value	[1]	1,075		1,075		587
Cost	[1]	1,075		1,075		587
Accumulated amortization	[1]
Mineral Rights Kilgore Idaho [Member]
IfrsStatementLineItems [Line Items]
Cost	[2]			13,756
Accumulated amortization	[2]
Opening net book value	[2]			13,756
Additions	[2]					13,756
Payments received under earn-in agreement	[2]
Disposals	[2]
Depletion and amortization	[2]
Exchange differences	[2]
Closing net book value	[2]	13,756		13,756		13,756
Cost	[2]	13,756		13,756		13,756
Accumulated amortization	[2]
Mineral Rights Oakley Idaho [Member]
IfrsStatementLineItems [Line Items]
Cost	[3]			5,364
Accumulated amortization	[3]
Opening net book value	[3]			5,364
Additions	[3]					5,364
Payments received under earn-in agreement	[3]			(75)
Disposals	[3]
Depletion and amortization	[3]
Exchange differences	[3]
Closing net book value	[3]	5,289		5,289		5,364
Cost	[3]	5,289		5,289		5,364
Accumulated amortization	[3]
[1]	On September 24, 2019 the Company signed an option agreement (the “Globex Agreement”) with Globex Mining Enterprises Inc. (“Globex”) to acquire a 100% 500 1,600 3% 2.5% reduced by 1% upon a payment of $1,500 Additional one-time payments of C$300 and C$700 will be made by the Company following any future announcement of a maiden resource on the property and upon achievement of commercial production from the project, respectively. 232,240 425 100 415 625 200
[2]	On April 22, 2020, the Company acquired the Kilgore Gold Project as part of the Otis acquisition. The Company has a 100%
[3]	On April 22, 2020, the Company acquired 100%

SCHEDULE OF MINERAL RIGHTS (D_2

SCHEDULE OF MINERAL RIGHTS (Details) (Parenthetical) $ in Thousands, $ in Thousands	Sep. 21, 2020USD ($)	Sep. 21, 2020CAD ($)	Apr. 22, 2020	Sep. 24, 2019CAD ($)shares
Mineral Rights Silver City Germany [Member] | Globex Agreement [Member] | Globex Mining Enterprises Inc [Member]
IfrsStatementLineItems [Line Items]
Acquisition of equity, percentage				100.00%
Payment for acquisition		$ 200		$ 500
Shares issued during the period for acquisition, value				$ 1,600
Royalty for precious metals				3.00%
Royalty for other metals				2.50%
Reduction on royalty description				reduced by 1% upon a payment of $1,500
Addition one time payments				Additional one-time payments of C$300 and C$700 will be made by the Company following any future announcement of a maiden resource on the property and upon achievement of commercial production from the project, respectively.
Mineral Rights Silver City Germany [Member] | Globex Agreement [Member] | Globex Mining Enterprises Inc [Member] | First Issuance [Member]
IfrsStatementLineItems [Line Items]
Shares issued during the period for acquisition, value				$ 425
Shares issued during the period for acquisition | shares				232,240
Mineral Rights Silver City Germany [Member] | Globex Agreement [Member] | Globex Mining Enterprises Inc [Member] | Second Issuance [Member]
IfrsStatementLineItems [Line Items]
Payment for acquisition		100
Shares issued during the period for acquisition, value		$ 625
Additions	$ 415
Otis Gold Corp [Member]
IfrsStatementLineItems [Line Items]
Acquisition of equity, percentage			100.00%
Otis Gold Corp [Member] | Kilgore Gold Project [Member]
IfrsStatementLineItems [Line Items]
Acquisition of equity, percentage			100.00%
Project descriptions			The Company has a 100% interest in the Kilgore Gold property located in Clark County, Idaho, which comprises 614 federal lode mining claims unencumbered by any underlying royalties. In Q4 2020, the Company staked 175 new claims expanding the Kilgore property by 28%.
Otis Gold Corp [Member] | Oakley Project [Member] | Blue Hill Creek [Member]
IfrsStatementLineItems [Line Items]
Project descriptions			Blue Hill Creek (“BHC”) – 44 unpatented federal lode mining claims and an adjacent 80 acre Idaho state lease, subject to a 2% net smelter returns (“NSR”) royalty on gold.
Otis Gold Corp [Member] | Oakley Project [Member] | Matrix Creek [Member]
IfrsStatementLineItems [Line Items]
Project descriptions			Matrix Creek – 61 unpatented federal lode mining claims and a 320 acre mineral lease, subject to a 2% NSR on gold. The NSRs at BHC and Matrix Creek can be purchased for a total of $2,000.
Otis Gold Corp [Member] | Oakley Project [Member] | Cold Creek [Member]
IfrsStatementLineItems [Line Items]
Project descriptions			Cold Creek – 117 unpatented federal lode mining claims.

MINERAL RIGHTS (Details Narrati

MINERAL RIGHTS (Details Narrative) - USD ($) $ in Thousands	Feb. 26, 2020	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Payment received earn-in agreement		$ 75
Otis Gold Corp [Member] | Definitive Option Agreement [Member] | Centerra Gold Inc [Member]
IfrsStatementLineItems [Line Items]
Project descriptions	Otis entered into a definitive option agreement with Centerra Gold Inc. (“Centerra”) whereby Centerra can earn up to a 70% interest in the Oakley Project in exchange for total exploration expenditures of $7,000 and cash payments to the Company of $550 over a six-year period. During the term of the Oakley Agreement, Excellon is Project Manager and earns 10% of the approved exploration expenditures for technical oversight and project management.
Exploration expenditures	$ 7,000
Payment for acquisition	$ 550

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Deferred tax assets	$ 532		$ 532		$ 5,145
Deferred tax assets			1,231
Derecognized deferred tax assets	326		326
Provision for litigation	$ 22,277		22,277
Third Party [Member]
IfrsStatementLineItems [Line Items]
Provision for litigation			3,056
Non-capital losses			$ 42,100

TRADE AND OTHER PAYABLES (Detai

TRADE AND OTHER PAYABLES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Trade payables	$ 4,248	$ 4,252
Trade and other payables	8,211	8,172
Accruals and other payables	3,963	3,920
Payables for purchase of non-current assets	561	173
Mexico [Member]
IfrsStatementLineItems [Line Items]
Trade and other payables	$ 2,432	$ 2,429

SCHEDULE OF PROVISIONS (Details

SCHEDULE OF PROVISIONS (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Opening balance		$ 2,208	$ 2,243
Termination payments		(57)	(113)
Change in estimate		147	233
Accretion for the period		243	101
Change on reorganization	[1]	(90)
Exchange differences		(41)	(256)
Closing balance		2,410	2,208
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Opening balance	[2]	652	617
Termination payments	[2]	(57)	(113)
Change in estimate	[2]		233
Accretion for the period	[2]	184	40
Change on reorganization	[1],[2]	(90)
Exchange differences	[2]	(11)	(125)
Closing balance	[2]	$ 678	652
Life of mine		3 years
Post-employment medical defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Opening balance	[3]	$ 1,556	1,626
Termination payments	[3]
Change in estimate	[3]	147
Accretion for the period	[3]	59	61
Change on reorganization	[1],[3]
Exchange differences	[3]	(30)	(131)
Closing balance	[3]	$ 1,732	$ 1,556
Life of mine		3 years
[1]	In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company and revalued, resulting in a net reduction in the provision.
[2]	Post-retirement benefits: The Company provides post-retirement benefit supplements as well as leaving indemnities to employees at the Mexican operations. Under Mexican labour law, the Company provides statutorily mandated severance benefits to its employees terminated under certain circumstances. Key financial assumptions used in the above estimate include an annual discount rate of 6.50% 4.86% 3.75% 3.75% 5.31% 5.31% three years
[3]	Rehabilitation provision: Key financial assumptions used in the above estimate include an annual discount rate of 6.22% 4.73% three years 2,075 1,087 988

SCHEDULE OF PROVISIONS (Detai_2

SCHEDULE OF PROVISIONS (Details) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Expected annual discount rate	6.50%	4.86%
Expected annual salary rate increase	3.75%	3.75%
Minimum wage increase rate	5.31%	5.31%
Post-employment medical defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Expected annual discount rate	6.22%	4.73%
Undiscounted amount of obligations	$ 2,075
Post-employment medical defined benefit plans [member] | Platosa Mine [Member]
IfrsStatementLineItems [Line Items]
Undiscounted amount of obligations	1,087
Post-employment medical defined benefit plans [member] | Miguel Auza [Member]
IfrsStatementLineItems [Line Items]
Undiscounted amount of obligations	$ 988

SUMMARY OF DEBT COMPONENT (Deta

SUMMARY OF DEBT COMPONENT (Details) $ in Thousands, $ in Thousands	9 Months Ended			12 Months Ended
	Sep. 30, 2021USD ($)		Sep. 30, 2021CAD ($)	Dec. 31, 2020USD ($)		Dec. 31, 2020CAD ($)
Convertible Debentures
Opening balance	$ 7,283		$ 9,299
Proceeds on issuance of Debenture				13,334		17,910
Transaction costs paid				(572)		(768)
Portion allocated to equity - conversion option and other features				(6,464)		(8,683)
Interest expense	2,380		2,969	1,222		1,594
Value of shares issued to settle interest payable	(727)	[1]	(888)	(588)	[1]	(754)
Exchange differences	(4)			351
Closing balance	$ 8,932		$ 11,380	$ 7,283		$ 9,299
[1]	The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments on the Debentures (Note 10) in common shares valued at C$ 754 ($ 588 ) and C$ 888 ($ 727 ) respectively.

CONVERTIBLE DEBENTURES (Details

CONVERTIBLE DEBENTURES (Details Narrative) $ / shares in Units, $ in Thousands, $ in Thousands	Jul. 30, 2020USD ($)shares	Jul. 30, 2020CAD ($)shares	Jun. 30, 2021USD ($)	Jun. 30, 2021CAD ($)	Sep. 30, 2021USD ($)		Sep. 30, 2021CAD ($)	Dec. 31, 2020USD ($)		Dec. 31, 2020CAD ($)	Jul. 30, 2020CAD ($)$ / sharesshares
IfrsStatementLineItems [Line Items]
Proceeds from convertible debentures								$ 13,334		$ 17,910
Transaction costs paid								(572)		(768)
Convertible debentures, interest payable settled with shares					$ 727	[1]	$ 888	588	[1]	754
Interest expense					$ 2,380		$ 2,969
Secured Convertible Debentures [Member]
IfrsStatementLineItems [Line Items]
Proceeds from convertible debentures | $		$ 17,910
Debt term	36 months	36 months
Debt conversion price											$ 5.30
Debt annual interest rate	5.75%										5.75%
Debt effective annual rate	10.00%										10.00%
Warrants to purchase common stock | shares	1,006,542										1,006,542
Warrant exercise price											$ 5.75
Warrant expiration date	Jul. 30, 2023	Jul. 30, 2023
Proceeds from debentures	$ 12,800	$ 17,100
Transaction costs paid	572	$ 768
Fair value of debt	6,298										$ 8,459
Residual portion of convertible option	4,751										6,382
Deferred tax recovery	$ 1,713										$ 2,301
Convertible debentures, interest payable settled with shares			$ 727	$ 888				$ 588		$ 754
Secured Convertible Debentures [Member] | Broker Warrant [Member]
IfrsStatementLineItems [Line Items]
Warrants granted | shares	136,887	136,887
Secured Convertible Debentures [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Debt conversion price											$ 12.50
[1]	The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments on the Debentures (Note 10) in common shares valued at C$ 754 ($ 588 ) and C$ 888 ($ 727 ) respectively.

SCHEDULE OF AUTHORIZED SHARE CA

SCHEDULE OF AUTHORIZED SHARE CAPITAL (Details) $ in Thousands, $ in Thousands		3 Months Ended		9 Months Ended			12 Months Ended
		Sep. 30, 2020CAD ($)shares	Jun. 30, 2020shares	Sep. 30, 2021USD ($)shares		Sep. 30, 2021CAD ($)shares	Dec. 31, 2020USD ($)shares		Dec. 31, 2020CAD ($)shares
Disclosure of classes of share capital [abstract]
Opening balance				32,339,000		32,339,000	22,491,000		22,491,000
Opening balance, value | $				$ 136,199			$ 114,840
Shares issued on exercise of stock options				15,000		15,000	261,000		261,000
Shares issued on exercise of stock options, value | $				$ 55			$ 602
Shares issued on exercise of RSUs and DSUs				183,000		183,000	382,000		382,000
Shares issued on exercise of RSUs and DSUs, value | $				$ 678			$ 1,627
Shares issued on exercise of warrants							2,000		2,000
Shares issued on exercise of warrants, value | $							$ 8
Shares issued on acquisition of Otis Gold Corp	[1]						8,131,000		8,131,000
Shares issued on acquisition of Otis Gold Corp, value | $	[1]						$ 16,370
Shares issued as part of Credit Facility	[2]						107,000		107,000
Shares issued as part of Credit Facility, value | $	[2]						$ 180
Shares issued to settle payables, shares		670,974	670,974				671,000	[3]	671,000	[3]
Shares issued to settle payables		$ 2,098					$ 1,738	[3]
Value of shares issued in asset acquisition	[4]			232,000		232,000	66,000		66,000
Value of shares issued in asset acquisition, value | $	[4]			$ 336			$ 246
Shares issued to settle interest on convertible debentures	[5]			286,000		286,000	228,000		228,000
Shares issued to settle interest on convertible debentures, value				$ 727	[5]	$ 888	$ 588	[5]	$ 754
Ending balance				33,055,000		33,055,000	32,339,000		32,339,000
Ending balance, value | $				$ 137,995			$ 136,199
[1]	On April 22, 2020, the Company completed the acquisition of Otis. Otis shareholders received 0.046 8,130,630 2.85
[2]	On March 16, 2020, the Company closed a $ 6,000 bridge-loan credit facility (the “Credit Facility”) with Sprott Private Resource Lending II (Collector), LP (“Sprott Lending”). The Credit Facility bore interest of 10% per annum, compounded and payable monthly, and was due and payable in full on or before September 14, 2020. In consideration for the Credit Facility, Excellon issued 107,291 common shares to Sprott Lending. The Company repaid the Credit Facility on August 4, 2020 on the closing of the Financing (Note 10).
[3]	During the second and third quarters of 2020, the Company issued 670,974 2,098 196 261
[4]	On September 21, 2020 and in accordance with the Globex Agreement, the second issuance of 65,657 325 100 232,240 425 100
[5]	The Company elected to pay the December 31, 2020 and June 30, 2021 interest payments on the Debentures (Note 10) in common shares valued at C$ 754 ($ 588 ) and C$ 888 ($ 727 ) respectively.

SCHEDULE OF AUTHORIZED SHARE _2

SCHEDULE OF AUTHORIZED SHARE CAPITAL (Details) (Parenthetical) $ / shares in Units, $ in Thousands, $ in Thousands

Apr. 22, 2020$ / sharesshares

Mar. 16, 2020USD ($)shares

Sep. 30, 2020shares

Jun. 30, 2020shares

Sep. 30, 2021USD ($)

Sep. 30, 2021CAD ($)

Dec. 31, 2020USD ($)shares

Sep. 30, 2021CAD ($)

Dec. 31, 2020CAD ($)

Sep. 22, 2020CAD ($)shares

Sep. 21, 2020CAD ($)shares

IfrsStatementLineItems [Line Items]

Shares issued to settle payables, shares

670,974

670,974

671,000

[1]

Other expenses

$ 196

$ 261

Debentures [Member]

IfrsStatementLineItems [Line Items]

Value of common shares issued

$ 727

$ 588

$ 888

$ 754

Globex Agreement [Member]

IfrsStatementLineItems [Line Items]

Number of common shares issued

232,240

65,657

Value of common shares issued | $

$ 425

$ 325

Cash payment | $

$ 100

$ 100

Sprott Private Resource Lending II [Member]

IfrsStatementLineItems [Line Items]

Notional amount | $

$ 6,000

Borrowings, interest rate

10.00%

Number of common stock issued for credit facility

107,291

Otis Gold Corp [Member]

IfrsStatementLineItems [Line Items]

Price per share | $ / shares

$ 2.85

Otis Gold Corp [Member] | Exchange Ratio [Member]

IfrsStatementLineItems [Line Items]

Price per share | $ / shares

$ 0.046

Shares issued during the period for acquisition

8,130,630

[1]

During the second and third quarters of 2020, the Company issued 670,974 2,098 196 261

SCHEDULE OF OUTSTANDING NUMBER

SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES (Details)		9 Months Ended	12 Months Ended
		Sep. 30, 2021shares$ / shares	Dec. 31, 2020shares$ / shares		Apr. 22, 2020$ / shares
IfrsStatementLineItems [Line Items]
Outstanding, Beginning Balance		847,437	461,000
Weighted Average Exercise Price, Beginning Balance | $ / shares		$ 4.21	$ 5.59
Granted/issued/acquired		212,500	1,002,395	[1]
Weighted Average Exercise Price, Granted/issued/acquired (Note 5) | $ / shares		$ 4.14	$ 3.34	[1]
Exercised/settled		(15,000)	(260,596)
Weighted Average Exercise Price, Exercised/settled | $ / shares		$ 3.05	$ 1.93
Expired		(59,450)	(332,359)
Weighted Average Exercise Price, Expired | $ / shares		$ 4.75	$ 5.20
Forfeited		(27,584)	(23,004)
Forfeited | $ / shares		$ 3.72	$ 4.26
Outstanding, Ending Balance		957,903	847,437
Weighted Average Exercise Price, Ending Balance | $ / shares		$ 4.20	$ 4.21
Exercisable, Ending Balance		757,944	548,009
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ / shares		$ 4.32	$ 4.52
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance | $ / shares		4.32	4.52
Weighted average exercise price of share options exercised in share-based payment arrangement | $ / shares		$ (3.05)	$ (1.93)
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Outstanding, Beginning Balance		465,511	572,485
Granted/issued/acquired		428,562	337,331	[1]
Exercised/settled		(41,117)	(224,750)
Expired			(91,332)
Forfeited		(29,000)	(128,223)
Outstanding, Ending Balance		823,956	465,511
Exercisable, Ending Balance
Deferred Stock Units (DSUs) [Member]
IfrsStatementLineItems [Line Items]
Outstanding, Beginning Balance		491,330	467,572
Granted/issued/acquired		199,353	217,264	[1]
Exercised/settled		(146,068)	(193,507)
Expired
Forfeited
Outstanding, Ending Balance		544,615	491,330
Exercisable, Ending Balance		98,417	98,417
Warrants [Member]
IfrsStatementLineItems [Line Items]
Outstanding, Beginning Balance	[2]	2,538,588	1,092,500
Weighted Average Exercise Price, Beginning Balance | $ / shares		$ 6	$ 7
Granted/issued/acquired	[2]		1,448,488	[1]
Weighted Average Exercise Price, Granted/issued/acquired (Note 5) | $ / shares			$ 5.23	[1]
Exercised/settled	[2]		(2,400)
Weighted Average Exercise Price, Exercised/settled | $ / shares			$ 3.45
Expired	[2]	(1,092,400)
Weighted Average Exercise Price, Expired | $ / shares		$ 7
Forfeited	[2]
Forfeited | $ / shares
Outstanding, Ending Balance	[2]	1,446,188	2,538,588
Weighted Average Exercise Price, Ending Balance | $ / shares		$ 5.24	$ 6
Exercisable, Ending Balance	[2]	1,446,188	2,538,588
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ / shares		$ 5.24	$ 6
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance | $ / shares		5.24	6
Weighted average exercise price of share options exercised in share-based payment arrangement | $ / shares			$ (3.45)
Warrants Exercise Price 3.30 Warrants [Member]
IfrsStatementLineItems [Line Items]
Warrants exercise price | $ / shares					$ 3.30
Warrants Price Three [Member]
IfrsStatementLineItems [Line Items]
Warrants exercise price | $ / shares					$ 5.75
[1]	On April 22, 2020, the Company issued 531,895 305,060 130,365 July 22, 2020
[2]	The Company has the following warrants outstanding:

SCHEDULE OF OUTSTANDING NUMBE_2

SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES (Details) (Parenthetical) - shares	Apr. 22, 2020	Sep. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Issuance of stock option		212,500	1,002,395	[1]
Number of stock options expired		59,450	332,359
3.30 Warrants [Member]
IfrsStatementLineItems [Line Items]
Issuance of warrants	305,060
Warrants Exercise Price 3.30 Warrants [Member]
IfrsStatementLineItems [Line Items]
Issuance of warrants	302,760
Warrants expiration date	Mar. 29, 2022
Warrants Exercise Price 5.75 [Member]
IfrsStatementLineItems [Line Items]
Issuance of warrants	1,143,428
Warrants expiration date	Jul. 30, 2023
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Issuance of stock option	531,895
Number of stock options expired	130,365
Stock option expired	Jul. 22, 2020
[1]	On April 22, 2020, the Company issued 531,895 305,060 130,365 July 22, 2020

SCHEDULE OF OPTIONS OUTSTANDING

SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE (Details)	9 Months Ended
	Sep. 30, 2021shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	957,903	847,437	461,000
Weighted Average Remaining Contractual Life (years)	2 years 1 month 13 days
Stock Options Exercisable, Ending Balance | shares	757,944	548,009
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance	$ 4.32	$ 4.52
Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	426,787
Weighted Average Remaining Contractual Life (years)	1 year 10 months 20 days
Stock Options Exercisable, Ending Balance | shares	333,912
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance	$ 2.99
Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	440,116
Weighted Average Remaining Contractual Life (years)	2 years 7 months 9 days
Stock Options Exercisable, Ending Balance | shares	333,032
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance	$ 4.54
Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	15,000
Weighted Average Remaining Contractual Life (years)	7 months 28 days
Stock Options Exercisable, Ending Balance | shares	15,000
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance	$ 7.63
Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	76,000
Weighted Average Remaining Contractual Life (years)	11 months 4 days
Stock Options Exercisable, Ending Balance | shares	76,000
Weighted Average Exercise Price Options Vested and Exercisable, Ending Balance	$ 8.51
Top of range [member] | Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	2
Top of range [member] | Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	5.99
Top of range [member] | Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	7.99
Top of range [member] | Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	9.99
Bottom of range [member] | Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	3.99
Bottom of range [member] | Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	4
Bottom of range [member] | Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	6
Bottom of range [member] | Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	$ 8

SCHEDULE OF SHARE BASED COMPENS

SCHEDULE OF SHARE BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	$ 286	$ 296	$ 1,414	$ 1,582
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	82	127	427	367
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	152	110	439	691
Deferred Stock Units (DSUs) [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	$ 52	$ 59	$ 548	$ 524

SHARE CAPITAL (Details Narrativ

SHARE CAPITAL (Details Narrative) - Warrants Exercise Price 7.00 [Member]	Apr. 27, 2021shares$ / shares
IfrsStatementLineItems [Line Items]
Issuance of warrants | shares	1,092,400
Warrants exercise price | $ / shares	$ 7

PROVISION FOR LITIGATION (Detai

PROVISION FOR LITIGATION (Details Narrative) $ in Thousands		9 Months Ended
		Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
IfrsStatementLineItems [Line Items]
Provision for litigation		$ 22,175
Assets	[1]	61,035	$ 61,035	$ 73,279
Property, plant and equipment		25,564	25,564	$ 25,830	$ 24,818
San Pedro [Member]
IfrsStatementLineItems [Line Items]
Assets		5,000	5,000
Property, plant and equipment		3,200	3,200
VAT recoverable		1,400	1,400
Other financial assets		$ 400	$ 400
Platosa Project Net Smelter Return [Member]
IfrsStatementLineItems [Line Items]
Minimum payment for plaintiff | $ / shares			$ 2.5
Interest rate of plaintiff		3.00%
Payment for royalty		$ 500
Description of plaintiff an award of damages		The Plaintiff was initially awarded damages of $700 in the court of first instance in Torreón, Coahuila. Both San Pedro and the Plaintiff appealed the decision to the Second District State Court in the Judicial District of Torreón. That Court confirmed the initial decision but, subsequently, pursuant to an order obtained by the Plaintiff, granted the Plaintiff an award of $22,175 (the “Judgment”), which in the view of management is multiple times greater than any income the applicable NSR royalty could produce even in the event of commercial production.
[1]	Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382

SCHEDULE OF RECOGNIZED AMOUNTS

SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue [abstract]
Concentrate revenue from contracts with customers	[1]	$ 9,451	$ 9,518	$ 28,736	$ 16,049
Provisional pricing adjustments on concentrate sales	[1]	(300)	339	(87)	(440)
Revenue from toll milling services					496
Total revenue		$ 9,151	$ 9,857	$ 28,649	$ 16,105
[1]	Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revision for the three and nine months ended September 30, 2020, are an increase in revenue of $ 190 1,068

SCHEDULE OF RECOGNIZED AMOUNT_2

SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE (Details) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IfrsStatementLineItems [Line Items]
Revenues	$ 9,151	$ 9,857	$ 28,649	$ 16,105
Increase (decrease) due to corrections of prior period errors [member]
IfrsStatementLineItems [Line Items]
Revenues		$ 190		$ 1,068

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IfrsStatementLineItems [Line Items]
Total revenue	$ 9,151	$ 9,857	$ 28,649	$ 16,105
Revenues From Toll Milling Services [Member]
IfrsStatementLineItems [Line Items]
Total revenue				496
Concentrate Revenues From Contracts With Customers Silver [Member]
IfrsStatementLineItems [Line Items]
Total revenue	5,882	6,699	18,496	10,043
Concentrate Revenues From Contracts With Customers Lead [Member]
IfrsStatementLineItems [Line Items]
Total revenue	1,457	1,273	4,215	2,378
Concentrate Revenues From Contracts With Customers Zinc [Member]
IfrsStatementLineItems [Line Items]
Total revenue	$ 1,812	$ 1,885	$ 5,938	$ 3,188

SCHEDULE OF COST OF SALES (Deta

SCHEDULE OF COST OF SALES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Expenses By Nature
Direct mining and milling costs	[1]	$ 5,992	$ 5,125	$ 18,362	$ 13,904
Changes in inventories	[2]	(425)	750	(829)	(144)
Depletion and amortization		1,809	1,269	5,372	3,204
Toll milling costs					234
Cost of sales		$ 7,376	$ 7,144	$ 22,905	$ 17,198
[1]	Direct mining and milling costs include personnel, general and administrative, fuel, electricity, maintenance and repair costs as well as operating supplies, external services and transport fees.
[2]	Changes in inventories reflect the net cost of ore and concentrate (i) sold during the current period but produced in a previous period (an addition to direct mining and milling costs) or (ii) produced but not sold in the current period (a deduction from direct mining and milling costs).

SCHEDULE OF ADMINISTRATIVE EXPE

SCHEDULE OF ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Expenses By Nature
Office and overhead	$ 517	$ 468	$ 1,742	$ 1,133
Salaries and wages	395	308	1,537	1,377
Corporate development and legal	115	245	227	519
Public company costs	40	57	156	138
Administrative expenses	$ 1,067	$ 1,078	$ 3,662	$ 3,167

SCHEDULE OF OTHER EXPENSES (Det

SCHEDULE OF OTHER EXPENSES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Expenses By Nature
Unrealized (gain) loss on marketable securities (Note 3)		$ (2)	$ 236	$ 696	$ (1,244)
Unrealized loss (gain) on purchase warrants (Note 3)		14	40	120	(163)
Loss on disposal of assets					188
Unrealized foreign exchange loss (gain)	[1]	(53)	634	219	1,507
Realized foreign exchange loss (gain)		22	(2)	(134)	8
Provision for litigation (Note 12)		22,277		22,277
Interest income		(1)	(10)	(5)	(41)
Shares issued at a discount to settle payables			122		196
Management fee income (Note 6)		(45)	(39)	(112)	(58)
Other		71	(47)	60	(26)
Other expenses		$ 22,283	$ 934	$ 23,121	$ 367
[1]	Refer to Note 18 of the Q1 2021 Condensed Consolidated Financial Statements. The 2020 quarterly information was revised for the reclassification of foreign exchange differences on provisionally priced sales. The revisions for the three and nine months ended September 30, 2020 are an increase to Other expense of $ 190 1,068

SCHEDULE OF OTHER EXPENSES (D_2

SCHEDULE OF OTHER EXPENSES (Details) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IfrsStatementLineItems [Line Items]
Other expense	$ (22,283)	$ (934)	$ (23,121)	$ (367)
Increase (decrease) due to corrections of prior period errors [member]
IfrsStatementLineItems [Line Items]
Other expense		$ 190		$ 1,068

SCHEDULE OF EXPLORATION AND HOL

SCHEDULE OF EXPLORATION AND HOLDING EXPENSES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
IfrsStatementLineItems [Line Items]
Exploration and holding expenses		$ 2,538	$ 2,001	$ 5,411	$ 2,631
Platosa Property (Mexico) [Member]
IfrsStatementLineItems [Line Items]
Exploration and holding expenses	[1]	305	153	1,559	187
Holding costs		50	43	149	134
Evolucion (Mexico) [Member]
IfrsStatementLineItems [Line Items]
Exploration and holding expenses		61	183	195	344
Holding costs		72	53	216	185
Silver City (Germany) [Member]
IfrsStatementLineItems [Line Items]
Exploration and holding expenses		1,423	911	2,142	1,083
Holding costs	[2]
Kilgore (USA) [Member]
IfrsStatementLineItems [Line Items]
Exploration and holding expenses		497	528	1,020	568
Holding costs		$ 130	$ 130	$ 130	$ 130
[1]	Platosa property exploration excludes underground drilling at the Platosa Mine which is capitalized to Property, plant and equipment (Note 5).
[2]	There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 6 for capitalized earn-in payments under the Globex Agreement.

SCHEDULE OF FINANCE EXPENSES (D

SCHEDULE OF FINANCE EXPENSES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Finance Expenses
Interest expense - Debentures		$ 748	$ 365	$ 2,380	$ 365
Interest expense - other		25	255	69	742
Rehabilitation provision - accretion		22	16	59	46
Post-retirement benefits - accretion		11	2	27	3
Post-employment benefit expense, defined benefit plans	[1]	(118)		(118)
Unrealized (gain) loss on currency hedges			(346)	21	673
Finance expenses		$ 688	$ 292	$ 2,438	$ 1,829
[1]	In accordance with changes in Mexican labour laws, the Company’s post-retirement benefit obligations were transferred between subsidiaries of the Company resulting in a net reduction in the provision on revaluation.

SCHEDULE OF THREE LEVELS OF FAI

SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Financial assets	$ 2,030	$ 4,153
Level 2 of fair value hierarchy [member] | Forward Foreign Exchange Contracts [Member]
IfrsStatementLineItems [Line Items]
Financial assets		21
Marketable Securities [Member] | Level 1 of fair value hierarchy [member]
IfrsStatementLineItems [Line Items]
Financial assets	1,457	2,138
Warrants [Member] | Level 2 of fair value hierarchy [member]
IfrsStatementLineItems [Line Items]
Financial assets	94	212
Trade receivables [member] | Level 2 of fair value hierarchy [member]
IfrsStatementLineItems [Line Items]
Financial assets	$ 479	$ 1,782

SCHEDULE OF SEGMENT REPORTING (

SCHEDULE OF SEGMENT REPORTING (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Property, plant and equipment		$ 25,564		$ 25,564		$ 25,830	$ 24,818
Additions - Property, plant and equipment		6,484		6,484		7,668
Mineral rights		20,752		20,752		20,511
Additions - Mineral rights		490		490		19,437
Assets	[1]	61,035		61,035		73,279
Liabilities	[1]	44,461		44,461		22,837
Revenue		9,151	$ 9,857	28,649	$ 16,105
Cost of sales		(7,376)	(7,144)	(22,905)	(17,198)
General and administrative expenses		1,453	1,502	5,436	5,009
Exploration and holding expenses		2,538	2,001	5,411	2,631
Other income (expense)		(22,283)	(934)	(23,121)	(367)
Impairment (3)		(752)		(752)
Finance income (expense)		688	292	2,438	1,829
Income tax (expense) recovery		4,921	(1,776)	4,913	(919)
Net income (loss)		(30,860)	(240)	(36,327)	(10,010)
Mexico [Member]
IfrsStatementLineItems [Line Items]
Property, plant and equipment		24,855		24,855		24,877
Additions - Property, plant and equipment		6,471		6,471		7,620
Mineral rights		635		635		804
Additions - Mineral rights
Assets	[1]	34,961		34,961		40,897
Liabilities	[1]	31,621		31,621		11,959
Revenue		9,151	9,857	28,649	16,105
Cost of sales		(7,376)	(7,144)	(22,905)	(17,198)
Exploration and holding expenses		(488)	(432)	(2,119)	(850)
Other income (expense)		(22,246)	(916)	(22,362)	(1,805)
Finance income (expense)		73	969	(1)	(80)
Income tax (expense) recovery		(4,843)	115	(4,918)	(694)
Net income (loss)		(26,481)	2,449	(24,408)	(4,522)
Mexico [Member] | Previously stated [member]
IfrsStatementLineItems [Line Items]
Assets						63,062
CORPORATE [Member]
IfrsStatementLineItems [Line Items]
Property, plant and equipment		709		709		953
Additions - Property, plant and equipment		13		13		48
Mineral rights		20,117		20,117		19,707
Additions - Mineral rights		490		490		19,437
Assets	[1]	26,074		26,074		32,382
Liabilities	[1]	12,840		12,840		10,878
General and administrative expenses		(1,453)	(1,502)	(5,436)	(5,009)
Exploration and holding expenses		(2,050)	(1,569)	(3,292)	(1,781)
Other income (expense)		(37)	(18)	(759)	1,438
Finance income (expense)		(761)	(1,261)	(2,437)	(1,749)
Income tax (expense) recovery		(78)	1,661	5	1,613
Net income (loss)		$ (4,379)	$ (2,689)	$ (11,919)	$ (5,488)
CORPORATE [Member] | Previously stated [member]
IfrsStatementLineItems [Line Items]
Assets						$ 10,217
[1]	Certain comparative period balances related to deferred income tax and foreign exchange impacts have been reallocated to conform with the current period allocation. As a result, total assets for Mexico and Corporate as at December 31, 2020, previously reported as $ 63,062 10,217 40,897 32,382