Excellon Resources (EXNRF) 6-K 9 Nov 22 Current report (foreign) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
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
Entity Address, City or Town	TORONTO
Entity Address, Postal Zip Code	M5C 1C3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 2,080	$ 4,071
Trade receivables	891	326
VAT recoverable	2,761	3,439
Inventories	1,162	2,087
Other current assets	1,985	2,320
Total current assets	8,879	12,243
Non-current assets
Property, plant and equipment	3,564	9,044
Mineral rights	20,514	20,273
Total assets	32,957	41,560
Current liabilities
Trade and other payables	5,915	8,143
VAT payable	2,155	1,839
Convertible debentures	10,646
Lease liabilities	168	212
Provision for litigation	22,179	22,162
Provisions	1,856	1,795
Total current liabilities	42,919	34,151
Non-current liabilities
Convertible debentures		9,238
Provisions	1,933	1,813
Deferred tax liabilities	760	612
Lease liabilities	90	233
Total liabilities	45,702	46,047
Shareholders’ deficit
Share capital	140,387	138,961
Contributed surplus	34,677	34,568
Accumulated other comprehensive loss	(15,428)	(15,851)
Deficit	(172,381)	(162,165)
Total shareholders’ deficit	(12,745)	(4,487)
Total liabilities and shareholders’ deficit	$ 32,957	$ 41,560

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Revenue	$ 6,982	$ 9,151	$ 23,260	$ 28,649
Production costs	(4,579)	(5,567)	(16,000)	(17,557)
(Write-down) reversal of materials and supplies			(532)	24
Depletion and amortization	(1,153)	(1,809)	(6,370)	(5,372)
Cost of sales	(5,732)	(7,376)	(22,902)	(22,905)
Gross profit	1,250	1,775	358	5,744
Administrative expenses	(1,080)	(1,067)	(3,104)	(3,662)
Share-based payment expenses	(145)	(286)	(405)	(1,414)
Amortization	(54)	(100)	(272)	(360)
General and administrative expenses	(1,279)	(1,453)	(3,781)	(5,436)
Exploration and holding expenses	(2,344)	(2,538)	(4,299)	(5,411)
Other (expenses) income	(247)	(6)	786	(844)
Provision for litigation		(22,277)		(22,277)
Impairment loss		(752)		(752)
Finance expenses	(985)	(688)	(3,086)	(2,438)
Loss before income taxes	(3,605)	(25,939)	(10,022)	(31,414)
Income tax expense	(174)	(4,921)	(194)	(4,913)
Net loss	(3,779)	(30,860)	(10,216)	(36,327)
Items that may be reclassified subsequently to profit and loss:
Foreign currency translation differences	917	(236)	423	(54)
Total other comprehensive income (loss)	917	(236)	423	(54)
Total comprehensive loss	$ (2,862)	$ (31,096)	$ (9,793)	$ (36,381)
Loss per share
Basic and diluted	$ (0.11)	$ (0.94)	$ (0.30)	$ (1.12)
Weighted average number of shares
Basic and diluted	35,399,105	32,784,967	34,335,373	32,520,297

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net loss for the period	$ (3,779)	$ (30,860)	$ (10,216)	$ (36,327)
Adjustments for non-cash items:
Depletion and amortization	1,207	1,909	6,642	5,732
Income tax expense	174	4,921	194	4,913
Share-based payment expenses	145	286	405	1,414
Write-down (recovery) of materials and supplies			532	(24)
Interest and accretion expense	726	744	3,041	2,512
Unrealized loss on currency hedges				21
Gain on disposal of property, plant and equipment	(137)		(253)
Fair value loss on marketable securities and purchase warrants	13	12	111	816
Provision for litigation		22,277		22,277
Impairment loss		752		752
Taxes paid		(50)	(233)	(219)
Operating cash (outflows) inflows before changes in working capital	(1,651)	(9)	223	1,867
Changes in non-cash working capital
Trade receivables	(752)	1,252	(567)	1,242
VAT recoverable	(46)	1,071	655	2,198
Inventories		(318)	433	(946)
Other assets	360	169	(117)	(953)
Trade and other payables	643	(813)	(1,353)	(257)
VAT payable	597	(864)	299	(2,019)
Net cash (used in) generated by operating activities	(849)	488	(427)	1,132
Investing activities
Proceeds from sale of marketable securities	25		342
Purchase of property, plant and equipment	(122)	(2,248)	(1,586)	(5,761)
Proceeds from sale of property, plant and equipment	137		321
Purchase of mineral rights	(151)	(79)	(151)	(154)
Payments received under earn-in agreement			100	75
Net cash used in investing activities	(111)	(2,327)	(974)	(5,840)
Financing activities
Proceeds from options and warrants exercised				36
Lease payments	(45)	(110)	(168)	(322)
Interest paid	(2)	(10)	(33)	(36)
Net cash used in financing activities	(47)	(120)	(201)	(322)
Effect of exchange rate changes on cash and cash equivalents	222	(117)	(389)	50
Change in cash and cash equivalents	(785)	(2,076)	(1,991)	(4,980)
Cash and cash equivalents - beginning of the period	2,865	5,476	4,071	8,380
Cash and cash equivalents - end of the period	$ 2,080	$ 3,400	$ 2,080	$ 3,400

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Issued capital [member]	Revaluation surplus [member]	Accumulated other comprehensive income [member]	Retained earnings [member]	Total
Balance - January 1, 2022 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 income			(54)		(54)
Total comprehensive income (loss)			(54)	(36,327)	(36,381)
Value of services recognized		427			427
Proceeds on issuing shares	54	(18)			36
Shares issued on exercise of RSUs and DSUs	679	(679)
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, 2022 at Sep. 30, 2021	137,995	34,732	(15,434)	(140,719)	16,574
Balance - January 1, 2022 at Dec. 31, 2021	138,961	34,568	(15,851)	(162,165)	(4,487)
IfrsStatementLineItems [Line Items]
Net loss for the period				(10,216)	(10,216)
Total other comprehensive income			423		423
Total comprehensive income (loss)			423	(10,216)	(9,793)
Value of services recognized		138			138
Shares issued on exercise of RSUs and DSUs	282	(282)
Value of units recognized		253			253
Value of shares issued in asset acquisition	450				450
Interest payable settled with shares	694				694
Balance - September 30, 2022 at Sep. 30, 2022	$ 140,387	$ 34,677	$ (15,428)	$ (172,381)	$ (12,745)

GENERAL INFORMATION

GENERAL INFORMATION	9 Months Ended
	Sep. 30, 2022
General Information
GENERAL INFORMATION	1. GENERAL INFORMATION Excellon Resources Inc. (the “Company” or “Excellon”) is engaged in the acquisition, exploration, and advancement of mineral properties. The Company is listed on the Toronto Stock Exchange (the “TSX”) and 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 our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery potential; an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration; and Platosa, an 11,000 hectare exploration package on Mexico’s carbonate replacement deposit (CRD) trend. The Company is also actively seeking to acquire undervalued projects in the Americas. 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 7, 2022.

BASIS OF PRESENTATION AND GOING

BASIS OF PRESENTATION AND GOING CONCERN	9 Months Ended
	Sep. 30, 2022
BASIS OF PRESENTATION AND GOING CONCERN	2. BASIS OF PRESENTATION AND GOING CONCERN 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 On January 5, 2022, the Company announced that it was assessing the economic viability of mining at Platosa at achievable dewatering rates and with acceptable capital expenditures, beyond mid-2022. The estimated mineral resources remaining beyond mid-2022 steepened significantly, with fewer vertical-tonnes-per-metre than historically encountered. Underground and surface drilling continued throughout Q1 and Q2 2022; however, based on the drilling results and consideration of current and expected economic factors, production ceased and the Platosa Mine was placed on care and maintenance in early Q4 2022. In addition, the Company has incurred losses from operations, has a shareholders’ deficit of $ 12,745 34,040 22,179 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) As indicated in Note 9, the Company is also party to a legal claim (the “Judgment”) against the Company’s subsidiary San Pedro Resources SA de CV (“San Pedro”). 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 continued to operate in the ordinary course until final ore from Platosa was processed in early Q4 2002, at which time the San Pedro operations were transitioned to care and maintenance. To date, the Judgement has had no impact on the operation of the Company’s business. On July 27, 2022, the Company received required approval from the Debentureholders to transfer the security under the Debentures from the Company’s Mexican assets to its Kilgore assets in Idaho (the “security transfer”) (Note 7). The security transfer was effective in late Q3 2022 and in early Q4 2022 cancellation of the Mexican security was registered with the applicable authorities. The Company does not consider the Judgment, and actions taken by the Plaintiff in connection with enforcing the Judgment prior to the security transfer, to constitute an event of default or default under the trust indenture governing the outstanding Debentures (the “Indenture”). An event of default under the Indenture, if not cured or waived, could result in the acceleration of all the Company’s debt under the Debentures and could materially and adversely affect the Company’s future operations, cash flows, earnings, results of operations, financial condition, and the economic viability of its projects. On March 7, 2022, the Company reported that the Sindicato Nacional Minero Metalúrgico (the “Platosa Union”) commenced a labour action at the Platosa Mine in Durango, Mexico. As a result, production was negligible, and no ore was processed by the Miguel Azua mill in the month of March. On April 1, 2022, the labour action was resolved. The Company is considering various financing, corporate development opportunities and strategic alternatives that may include acquisitions, divestitures, mergers or spin-offs of the Company’s or third parties’ assets, as applicable. These conditions indicate the existence of material uncertainties that cast substantial doubt on the Company’s ability to realize its assets and discharge its liabilities in the normal course of business and, accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The Company’s ability to continue as a going concern is dependent on its ability to repay or refinance its Debentures, and obtain the necessary financing to advance its exploration projects and meet its ongoing corporate overhead costs. Although the Company has been successful in obtaining debt or equity financing in the past, there is no assurance that it will be able to do so in the future or that such arrangements will be on terms advantageous to the Company. These condensed consolidated financial statements are prepared on a going concern basis, which assumes that the Company will continue for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. Accordingly, these condensed consolidated financial statements do not include adjustments to the recoverability and classification of recorded assets and liabilities and related expenses that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and liquidate its liabilities in other than the normal course of business at amounts different from those in the accompanying condensed consolidated financial statements. Such adjustments could be material. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) 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, 2021.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2022
Schedule Of Inventories Details
INVENTORIES	3. INVENTORIES SCHEDULE OF INVENTORIES September 30 December 31 2022 2021 $ $ Ore stockpiles (1) 487 587 Concentrate inventory (1) 260 250 Materials and supplies (2) 415 1,250 1,162 2,087 (1) Change in inventories recorded in cost of sales (Note 11.a) excludes a currency translation adjustment of $ 10 43 (2) Materials and supplies inventories were written down to net realizable value to align with current mining plans (Note 2). Amount of $ 532 24

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2022
PROPERTY, PLANT AND EQUIPMENT	4. PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Assets Corporate and right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ At January 1, 2021 Cost 36,400 21,272 6,075 522 1,944 66,213 Accumulated amortization (21,930 ) (12,552 ) (5,079 ) - (822 ) (40,383 ) Opening net book value 14,470 8,720 996 522 1,122 25,830 Year ended December 31, 2021 Opening net book value 14,470 8,720 996 522 1,122 25,830 Additions 4,441 516 263 2,711 30 7,961 Disposals Reclassification 2,131 875 196 (3,202 ) - - Impairment (2) (10,471 ) (4,715 ) (738 ) - (231 ) (16,155 ) Depletion and amortization (4,532 ) (2,373 ) (275 ) - (348 ) (7,528 ) Exchange differences (1) (666 ) (333 ) (17 ) (31 ) (17 ) (1,064 ) Closing net book value 5,373 2,690 425 - 556 9,044 At December 31, 2021 Cost 41,962 21,995 6,367 - 1,935 72,259 Accumulated amortization and impairment (36,589 ) (19,305 ) (5,942 ) - (1,379 ) (63,215 ) Closing net book value 5,373 2,690 425 - 556 9,044 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) Assets Corporate and right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ Period ended September 30, 2022 Opening net book value 5,373 2,690 425 - 556 9,044 Additions 874 7 57 - - 938 Disposals - (68 ) - - - (68 ) Reclassification - (630 ) 744 - (114 ) - Depletion and amortization (4,990 ) (157 ) (1,168 ) - (155 ) (6,470 ) Exchange differences (1) 93 24 18 - (15 ) 120 Closing net book value 1,350 1,866 76 - 272 3,564 At September 30, 2022 Cost 42,856 20,426 8,755 - 1,063 73,100 Accumulated amortization and impairment (41,506 ) (18,560 ) (8,679 ) - (791 ) (69,536 ) Closing net book value 1,350 1,866 76 - 272 3,564 (1) Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate. (2) On January 5, 2022, the Company announced that it was assessing the economic viability of mining at Platosa at achievable dewatering rates and with acceptable capital expenditures, beyond mid-2022. The mineral resources remaining beyond mid-2022 steepen significantly, with fewer vertical-tonnes-per-metre than historically encountered. Based on the recent drilling results and consideration of current and expected economic factors, the Company wound down operations at Platosa in early Q4 2022. At December 31, 2021 and considering results from exploration and drilling assessments in Q4 2021 and Q1 2022, the Company performed an impairment test on the Platosa Mine CGU and Miguel Auza processing facility CGU. The recoverable amounts were calculated using the value-in-use method and estimated based on future cash flows. Key assumptions included future commodity prices, production based on current estimates of recoverable resources, and operating costs. In addition, the estimated residual value of Platosa’s property, plant and equipment required significant judgement. No discount rate was applied given the short-term nature of the cash flows. The estimated recoverable amount for the Platosa Mine CGU and Miguel Auza CGU was $ 7,264 1,338 15,403 14,293 1,110 10 2,133 292 In Q3 2021, the Company had recorded an impairment loss of $ 752 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data)

MINERAL RIGHTS

MINERAL RIGHTS	9 Months Ended
	Sep. 30, 2022
Mineral Rights
MINERAL RIGHTS	5. MINERAL RIGHTS SCHEDULE OF MINERAL RIGHTS Platosa Silver City Kilgore Oakley Total (Mexico) (Germany) (1) (Idaho) (Idaho) (2) Total $ $ $ $ $ At January 1, 2021 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 Year ended December 31, 2021 Opening net book value 804 587 13,756 5,364 20,511 Additions - 459 - - 459 Payments received under earn-in agreement - - - (75 ) (75 ) Depletion and amortization (219 ) - - - (219 ) Impairment (3) (385 ) - - - (385 ) Exchange differences (7 ) (11 ) - - (18 ) Closing net book value 193 1,035 13,756 5,289 20,273 At December 31, 2021 Cost 3,665 1,035 13,756 5,289 23,745 Accumulated amortization and impairment (3,472 ) - - - (3,472 ) Closing net book value 193 1,035 13,756 5,289 20,273 Platosa Silver City Kilgore Oakley (Mexico) (Germany) (1) (Idaho) (Idaho) (2) Total $ $ $ $ $ Period ended September 30, 2022 Opening net book value 193 1,035 13,756 5,289 20,273 Additions - 601 - - 601 Payments received under earn-in agreement - - - (100 ) (100 ) Depletion and amortization (172 ) - - - (172 ) Exchange differences (5 ) (83 ) - - (88 ) Closing net book value 16 1,553 13,756 5,189 20,514 At September 30, 2022 Cost 3,556 1,553 13,756 5,189 24,054 Accumulated amortization and impairment (3,540 ) - - - (3,540 ) Closing net book value 16 1,553 13,756 5,189 20,514 (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 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) In Q3 2021, shares to the value of C$ 425 100 415 625 200 601 3 2.5 reduced by 1% upon a payment of $1,500. Additional one-time payments of C$300 and C$700 are to be made by the Company following any future announcement of a maiden mineral resource estimate on the property and upon achievement of commercial production from the project, respectively. (2) On April 22, 2020, the Company acquired 100% ownership of the Oakley Project in Cassia County, Idaho as part of the Otis Gold Corp. (“Otis”) acquisition. 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 $7,500 and cash payments to the Company of $550 over a six-year period. Excellon was Project Manager and earned 10% of the approved exploration expenditures for technical oversight and project management until November 30, 2021. Centerra now manages the Oakley Project directly. In Q1 2021 and Q1 2022, the Company received a payment of $ 75 100 2,571 (3) Refer to Note 4 – mineral rights related to the Platosa Mine were included in the Platosa Mine CGU tested for impairment at December 31, 2021. An impairment of $ 385

PROVISIONS

PROVISIONS	9 Months Ended
	Sep. 30, 2022
PROVISIONS	6. PROVISIONS SCHEDULE OF PROVISIONS Post-retirement Rehabilitation benefits (1) provision (2) Total $ $ $ Year ended December 31, 2021 Opening balance 652 1,556 2,208 Termination payments (62 ) - (62 ) Change in estimate 968 223 1,191 Accretion for the period 236 85 321 Exchange differences 1 (51 ) (50 ) Closing balance 1,795 1,813 3,608 Current 1,795 - 1,795 Non-current - 1,813 1,813 Period ended September 30, 2022 Opening balance 1,795 1,813 3,608 Termination payments (80 ) - (80 ) Change in estimate (354 ) - (354 ) Accretion for the period 466 96 562 Exchange differences 29 24 53 Closing balance 1,856 1,933 3,789 Current 1,856 - 1,856 Non-current - 1,933 1,933 (1) Post-retirement benefits: Under Mexican labour law, the Company provides post-retirement indemnities and severance benefits to its employees terminated under certain circumstances. Key assumptions used by the independent 3 rd 7.00 4 3.75 22 (2) Rehabilitation provision: Key financial assumptions used in the above estimate include independent 3 rd 6.68 7.19 2.0 1.0 1.0 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data)

CONVERTIBLE DEBENTURES

CONVERTIBLE DEBENTURES	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about borrowings [abstract]
CONVERTIBLE DEBENTURES	7. 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 5.30 5.75 10 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 The purchasers of the Debentures were also issued 1,006,542 5.75 136,886 5.75 July 30, 2023 Net proceeds from the Debentures were C$ 17.1 12.8 768 572 8,459 6,298 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 June 30, 2021, December 31, 2021, and June 30, 2022 interest payments in common shares valued at C$ 888 727 903 706 888 694 3,678 2,868 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) SUMMARY OF DEBT COMPONENT $ CAD $ USD Year ended December 31, 2021 Opening balance 9,299 7,283 Interest expense 4,294 3,427 Value of shares issued to settle interest payable (1,791 ) (1,433 ) Exchange differences - (39 ) Closing balance 11,802 9,238 Current - - Non-current 11,802 9,238 Period ended September 30, 2022 Opening balance 11,802 9,238 Interest expense 3,678 2,868 Value of shares issued to settle interest payable (888 ) (694 ) Exchange differences - (766 ) Closing balance 14,592 10,646 Current 14,592 10,646 Non-current - -

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Sep. 30, 2022
SHARE CAPITAL	8. 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, 2021 Opening balance 32,339 136,199 Shares issued on exercise of stock options 15 54 Shares issued on exercise of RSUs and DSUs 281 970 Value of shares issued in asset acquisition (1) 232 305 Shares issued to settle interest on convertible debentures (2) 896 1,433 Balance at December 31, 2021 33,763 138,961 Period ended September 30, 2022 Opening balance 33,763 138,961 Shares issued on exercise of RSUs and DSUs 162 282 Value of shares issued in asset acquisition (1) 1,330 450 Shares issued to settle interest on convertible debentures (2) 1,388 694 Balance at September 30, 2022 36,643 140,387 (1) In accordance with the Globex Agreement (Note 5), the Company issued 232,240 385 305 1,329,787 598 450 (2) The Company elected to pay the June 30, 2021, December 31, 2021, and June 30, 2022 interest payments on the Debentures (Note 7) in common shares valued at C$ 888 727 903 706 888 694 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (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 (1) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2021 847,437 4.21 2,538,588 6.00 465,511 491,330 Granted/issued 257,500 3.73 - - 466,122 209,353 Exercised/settled (15,000 ) 3.05 - - (41,117 ) (244,485 ) Expired (104,366 ) 5.61 (1,092,400 ) 7.00 (54,448 ) - Forfeited (40,084 ) 3.85 - - (168,659 ) - Outstanding at December 31, 2021 945,487 3.96 1,446,188 5.24 667,409 456,198 Exercisable at December 31, 2021 816,987 4.03 1,446,188 5.24 - - Options Warrants Options Outstanding Weighted Average Exercise Price (CAD) Warrants Outstanding (1) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2022 945,487 3.96 1,446,188 5.24 667,409 456,198 Granted/issued 942,000 0.58 - - 917,948 380,417 Exercised/settled - 0.00 - - (31,787 ) (130,455 ) Expired (208,750 ) 4.66 (302,760 ) 3.30 - - Forfeited (18,125 ) 3.95 - - (405,070 ) - Outstanding at September 30, 2022 1,660,612 1.96 1,143,428 5.75 1,148,500 706,160 Exercisable at September 30, 2022 961,612 2.93 1,143,428 5.75 - - (1) At September 30, 2022, the Company has 1,143,428 5.75 302,760 3.30 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (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 $ 0.00 1.99 987,000 2.67 288,000 0.68 $ 2.00 3.99 313,037 0.96 313,037 2.97 $ 4.00 5.99 337,575 1.65 337,575 4.47 $ 6.00 7.99 5,000 0.55 5,000 7.50 $ 8.00 9.99 18,000 0.48 18,000 8.10 1,660,612 2.11 961,612 2.93 Share-based payment expense is recognized over the vesting period of the grant with the corresponding equity impact recorded in contributed surplus. Share-based payment expense comprises the following: SCHEDULE OF SHARE BASED COMPENSATION EXPENSE Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Stock options 101 82 140 427 RSU (65 ) 152 87 439 DSU 109 52 178 548 145 286 405 1,414

PROVISION FOR LITIGATION

PROVISION FOR LITIGATION	9 Months Ended
	Sep. 30, 2022
Provisions [abstract]
PROVISION FOR LITIGATION	9. PROVISION FOR LITIGATION A subsidiary of the Company 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 held by a subsidiary of the Company. La Antigua was subject to an exploration and exploitation agreement with a purchase option (the “Antigua Agreement”) between San Pedro Resources SA de CV (“San Pedro”, a subsidiary of Excellon) and the owner (the “Plaintiff”) that provided, among other things, for a minimum payment of $ 2.5 3 500 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 22,175 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, Germany 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 estimate. The book value of San Pedro’s assets included in the Condensed Consolidated Statements of Financial Position is $ 1.2 1.1 0.1 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) 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 continued to operate in the ordinary course until it had processed the last ore from the Platosa Mine following its completion of production and transition to care and maintenance in early Q4 2022 (Note 2). In Q1 and Q2 2022, the Plaintiff registered the Judgment against the real property and certain assets owned by San Pedro. This does not currently impact use of the land, plant or mineral concessions. As of the date of approval of these financial statements, San Pedro has not received any notice that the Plaintiff has initiated any proceedings that could result in San Pedro losing control of its operations. SCHEDULE OF PROVISION FOR LITIGATION September 30 December 31 2022 2021 $ $ Opening balance 22,162 - Provision recognized - 22,282 Transfer from accruals - 243 Interest 3 1 Exchange differences (1) 14 (364 ) Closing balance 22,179 22,162 (1) Exchange differences include unrealized foreign exchange gain ($ 280 294 294 658

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2022
REVENUE	10. 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 four 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 trade receivables. 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 revenue. The Company recognized the following amounts related to revenue: SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Concentrate revenue from contracts with customers 7,569 9,451 24,557 28,736 Provisional pricing adjustments on concentrate sales (587 ) (300 ) (1,297 ) (87 ) Total revenue 6,982 9,151 23,260 28,649 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) The following table sets out the disaggregation of revenue by metal: SCHEDULE OF DISAGGREGATION OF REVENUE 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Concentrate revenue: Silver 4,914 5,882 14,532 18,496 Lead 1,089 1,457 3,140 4,215 Zinc 979 1,812 5,588 5,938 Total revenue 6,982 9,151 23,260 28,649

EXPENSES BY NATURE

EXPENSES BY NATURE	9 Months Ended
	Sep. 30, 2022
EXPENSES BY NATURE	11. EXPENSES BY NATURE (a) Cost of sales consists of the following: SCHEDULE OF COST OF SALES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Direct mining and milling costs (1) 4,716 5,992 15,900 18,386 Write-down (recovery) of materials and supplies - - 532 (24 ) Changes in inventories (2) (137 ) (425 ) 100 (829 ) Depletion and amortization 1,153 1,809 6,370 5,372 Cost of sales 5,732 7,376 22,902 22,905 (1) Direct mining and milling costs include personnel, administrative, fuel, electricity, supplies, transport, maintenance and repair costs. (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 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Office and overhead 567 517 1,584 1,742 Salaries and wages 355 395 1,051 1,537 Corporate development and legal 107 115 351 227 Public company costs 51 40 118 156 Administrative expenses 1,080 1,067 3,104 3,662 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) (c) Other expenses (income) consist of the following: SCHEDULE OF OTHER INCOME EXPENSES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Fair value loss (gain) on marketable securities 8 (2 ) 67 696 Fair value loss on purchase warrants 5 14 44 120 Gain on disposal of property, plant and equipment (137 ) - (253 ) - Unrealized foreign exchange loss (gain) 343 (53 ) (160 ) 219 Realized foreign exchange (gain) loss (43 ) 22 (54 ) (134 ) Interest and other 71 70 162 55 Insurance proceeds received - - (592 ) - Management fee income (Note 5) - (45 ) - (112 ) Other expenses (income) 247 6 (786 ) 844

EXPLORATION AND HOLDING EXPENSE

EXPLORATION AND HOLDING EXPENSES	9 Months Ended
	Sep. 30, 2022
EXPLORATION AND HOLDING EXPENSES	12. 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 2022 2021 2022 2021 $ $ $ $ Platosa property (Mexico) - exploration work (1) 151 305 559 1,559 - holding costs 52 50 155 149 Evolución (Mexico) - exploration work 29 61 98 195 - holding costs 86 72 257 216 Silver City (Germany) - exploration work 175 1,423 887 2,142 - holding costs (2) - - - - Kilgore (USA) - exploration work 1,721 497 2,213 1,020 - holding costs 130 130 130 130 Exploration and holding expenses 2,344 2,538 4,299 5,411 (1) Platosa property exploration excludes underground drilling at the Platosa Mine which is capitalized to property, plant and equipment (Note 4). (2) There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 5 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, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data)

FINANCE EXPENSES

FINANCE EXPENSES	9 Months Ended
	Sep. 30, 2022
FINANCE EXPENSES	13. FINANCE EXPENSES Finance expenses consist of the following: SCHEDULE OF FINANCE EXPENSES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Interest expense - Debentures (1) 926 748 2,868 2,380 Interest expense - other 5 25 43 69 Rehabilitation provision - accretion 32 22 96 59 Post-retirement benefits - accretion (2) 22 (107 ) 79 (91 ) Unrealized loss on currency hedges - - - 21 Finance expenses 985 688 3,086 2,438 (1) The Debentures are recorded at amortized cost and accreted to the principal amount over the term of the Debentures (Note 7). For the nine months ended September 30, 2022, $ 897 921 1,971 1,459 (2) Reflects the discounting of post-retirement benefit liabilities. The post-retirement benefit accretion presented in Note 6 includes current service cost accretion of $ 387 199

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2022
FINANCIAL INSTRUMENTS	14. 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, 2022, 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 trade receivables. 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, 2022 and 2021 (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 2022 2021 hierarchy $ $ Financial assets Fair value through profit and loss Marketable securities Level 1 - 407 Warrants Level 2 3 47 Trade receivables from provisionally priced sales Level 2 891 326 Financial Assets 894 780 There were no transfers between levels 1, 2 or 3 during the nine months ended September 30, 2022. 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 ● Trade receivables from provisionally priced sales – key inputs are payable metal and future metal prices, marked-to-market based on a quoted forward price and final settlement weights and assays

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2022
SEGMENT REPORTING	15. SEGMENT REPORTING SCHEDULE OF SEGMENT REPORTING 2022 2021 2022 2021 2022 2021 MEXICO CORPORATE TOTAL September 30 December 31 September 30 December 31 September 30 December 31 2022 2021 2022 2021 2022 2021 $ $ $ $ $ $ Property, plant and equipment 3,292 8,535 272 509 3,564 9,044 Additions - Property, plant and equipment 938 7,931 - 30 938 7,961 Mineral rights 16 193 20,498 20,080 20,514 20,273 Additions - Mineral rights - - 601 459 601 459 Total assets 9,829 15,309 23,128 26,251 32,957 41,560 Total liabilities 32,076 34,173 13,626 11,874 45,702 46,047 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ MEXICO Revenue 6,982 9,151 23,260 28,649 Cost of sales (5,732 ) (7,376 ) (22,902 ) (22,905 ) Exploration and holding expenses (318 ) (488 ) (1,069 ) (2,119 ) Other (expenses) income and foreign exchange gains (losses) (169 ) 31 535 (85 ) Provision for litigation (Note 9) - (22,277 ) - (22,277 ) Impairment loss (Note 4) - (752 ) - (752 ) Finance (expenses) income (55 ) 73 (197 ) (1 ) Income tax expense - (4,843 ) - (4,918 ) Net profit (loss) 708 (26,481 ) (373 ) (24,408 ) CORPORATE General and administrative expenses (1,279 ) (1,453 ) (3,781 ) (5,436 ) Exploration and holding expenses (2,026 ) (2,050 ) (3,230 ) (3,292 ) Other (expenses) income and foreign exchange gains (losses) (78 ) (37 ) 251 (759 ) Finance expenses (930 ) (761 ) (2,889 ) (2,437 ) Income tax (expense) recovery (174 ) (78 ) (194 ) 5 Net loss (4,487 ) (4,379 ) (9,843 ) (11,919 ) Net loss (3,779 ) (30,860 ) (10,216 ) (36,327 )

BASIS OF PRESENTATION AND GOI_2

BASIS OF PRESENTATION AND GOING CONCERN (Policies)	9 Months Ended
	Sep. 30, 2022
Statement of compliance and going concern	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 On January 5, 2022, the Company announced that it was assessing the economic viability of mining at Platosa at achievable dewatering rates and with acceptable capital expenditures, beyond mid-2022. The estimated mineral resources remaining beyond mid-2022 steepened significantly, with fewer vertical-tonnes-per-metre than historically encountered. Underground and surface drilling continued throughout Q1 and Q2 2022; however, based on the drilling results and consideration of current and expected economic factors, production ceased and the Platosa Mine was placed on care and maintenance in early Q4 2022. In addition, the Company has incurred losses from operations, has a shareholders’ deficit of $ 12,745 34,040 22,179 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) As indicated in Note 9, the Company is also party to a legal claim (the “Judgment”) against the Company’s subsidiary San Pedro Resources SA de CV (“San Pedro”). 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 continued to operate in the ordinary course until final ore from Platosa was processed in early Q4 2002, at which time the San Pedro operations were transitioned to care and maintenance. To date, the Judgement has had no impact on the operation of the Company’s business. On July 27, 2022, the Company received required approval from the Debentureholders to transfer the security under the Debentures from the Company’s Mexican assets to its Kilgore assets in Idaho (the “security transfer”) (Note 7). The security transfer was effective in late Q3 2022 and in early Q4 2022 cancellation of the Mexican security was registered with the applicable authorities. The Company does not consider the Judgment, and actions taken by the Plaintiff in connection with enforcing the Judgment prior to the security transfer, to constitute an event of default or default under the trust indenture governing the outstanding Debentures (the “Indenture”). An event of default under the Indenture, if not cured or waived, could result in the acceleration of all the Company’s debt under the Debentures and could materially and adversely affect the Company’s future operations, cash flows, earnings, results of operations, financial condition, and the economic viability of its projects. On March 7, 2022, the Company reported that the Sindicato Nacional Minero Metalúrgico (the “Platosa Union”) commenced a labour action at the Platosa Mine in Durango, Mexico. As a result, production was negligible, and no ore was processed by the Miguel Azua mill in the month of March. On April 1, 2022, the labour action was resolved. The Company is considering various financing, corporate development opportunities and strategic alternatives that may include acquisitions, divestitures, mergers or spin-offs of the Company’s or third parties’ assets, as applicable. These conditions indicate the existence of material uncertainties that cast substantial doubt on the Company’s ability to realize its assets and discharge its liabilities in the normal course of business and, accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The Company’s ability to continue as a going concern is dependent on its ability to repay or refinance its Debentures, and obtain the necessary financing to advance its exploration projects and meet its ongoing corporate overhead costs. Although the Company has been successful in obtaining debt or equity financing in the past, there is no assurance that it will be able to do so in the future or that such arrangements will be on terms advantageous to the Company. These condensed consolidated financial statements are prepared on a going concern basis, which assumes that the Company will continue for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. Accordingly, these condensed consolidated financial statements do not include adjustments to the recoverability and classification of recorded assets and liabilities and related expenses that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and liquidate its liabilities in other than the normal course of business at amounts different from those in the accompanying condensed consolidated financial statements. Such adjustments could be material. Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data)
Summary of significant accounting policies, judgments, and estimates	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, 2021.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2022
Schedule Of Inventories Details
SCHEDULE OF INVENTORIES	SCHEDULE OF INVENTORIES September 30 December 31 2022 2021 $ $ Ore stockpiles (1) 487 587 Concentrate inventory (1) 260 250 Materials and supplies (2) 415 1,250 1,162 2,087 (1) Change in inventories recorded in cost of sales (Note 11.a) excludes a currency translation adjustment of $ 10 43 (2) Materials and supplies inventories were written down to net realizable value to align with current mining plans (Note 2). Amount of $ 532 24

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT	SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Assets Corporate and right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ At January 1, 2021 Cost 36,400 21,272 6,075 522 1,944 66,213 Accumulated amortization (21,930 ) (12,552 ) (5,079 ) - (822 ) (40,383 ) Opening net book value 14,470 8,720 996 522 1,122 25,830 Year ended December 31, 2021 Opening net book value 14,470 8,720 996 522 1,122 25,830 Additions 4,441 516 263 2,711 30 7,961 Disposals Reclassification 2,131 875 196 (3,202 ) - - Impairment (2) (10,471 ) (4,715 ) (738 ) - (231 ) (16,155 ) Depletion and amortization (4,532 ) (2,373 ) (275 ) - (348 ) (7,528 ) Exchange differences (1) (666 ) (333 ) (17 ) (31 ) (17 ) (1,064 ) Closing net book value 5,373 2,690 425 - 556 9,044 At December 31, 2021 Cost 41,962 21,995 6,367 - 1,935 72,259 Accumulated amortization and impairment (36,589 ) (19,305 ) (5,942 ) - (1,379 ) (63,215 ) Closing net book value 5,373 2,690 425 - 556 9,044 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) Assets Corporate and right Mining Mining Processing under of use properties equipment equipment construction assets Total $ $ $ $ $ $ Period ended September 30, 2022 Opening net book value 5,373 2,690 425 - 556 9,044 Additions 874 7 57 - - 938 Disposals - (68 ) - - - (68 ) Reclassification - (630 ) 744 - (114 ) - Depletion and amortization (4,990 ) (157 ) (1,168 ) - (155 ) (6,470 ) Exchange differences (1) 93 24 18 - (15 ) 120 Closing net book value 1,350 1,866 76 - 272 3,564 At September 30, 2022 Cost 42,856 20,426 8,755 - 1,063 73,100 Accumulated amortization and impairment (41,506 ) (18,560 ) (8,679 ) - (791 ) (69,536 ) Closing net book value 1,350 1,866 76 - 272 3,564 (1) Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate. (2) On January 5, 2022, the Company announced that it was assessing the economic viability of mining at Platosa at achievable dewatering rates and with acceptable capital expenditures, beyond mid-2022. The mineral resources remaining beyond mid-2022 steepen significantly, with fewer vertical-tonnes-per-metre than historically encountered. Based on the recent drilling results and consideration of current and expected economic factors, the Company wound down operations at Platosa in early Q4 2022.

MINERAL RIGHTS (Tables)

MINERAL RIGHTS (Tables)	9 Months Ended
	Sep. 30, 2022
Mineral Rights
SCHEDULE OF MINERAL RIGHTS	SCHEDULE OF MINERAL RIGHTS Platosa Silver City Kilgore Oakley Total (Mexico) (Germany) (1) (Idaho) (Idaho) (2) Total $ $ $ $ $ At January 1, 2021 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 Year ended December 31, 2021 Opening net book value 804 587 13,756 5,364 20,511 Additions - 459 - - 459 Payments received under earn-in agreement - - - (75 ) (75 ) Depletion and amortization (219 ) - - - (219 ) Impairment (3) (385 ) - - - (385 ) Exchange differences (7 ) (11 ) - - (18 ) Closing net book value 193 1,035 13,756 5,289 20,273 At December 31, 2021 Cost 3,665 1,035 13,756 5,289 23,745 Accumulated amortization and impairment (3,472 ) - - - (3,472 ) Closing net book value 193 1,035 13,756 5,289 20,273 Platosa Silver City Kilgore Oakley (Mexico) (Germany) (1) (Idaho) (Idaho) (2) Total $ $ $ $ $ Period ended September 30, 2022 Opening net book value 193 1,035 13,756 5,289 20,273 Additions - 601 - - 601 Payments received under earn-in agreement - - - (100 ) (100 ) Depletion and amortization (172 ) - - - (172 ) Exchange differences (5 ) (83 ) - - (88 ) Closing net book value 16 1,553 13,756 5,189 20,514 At September 30, 2022 Cost 3,556 1,553 13,756 5,189 24,054 Accumulated amortization and impairment (3,540 ) - - - (3,540 ) Closing net book value 16 1,553 13,756 5,189 20,514 (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 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) In Q3 2021, shares to the value of C$ 425 100 415 625 200 601 3 2.5 reduced by 1% upon a payment of $1,500. Additional one-time payments of C$300 and C$700 are to be made by the Company following any future announcement of a maiden mineral resource estimate on the property and upon achievement of commercial production from the project, respectively. (2) On April 22, 2020, the Company acquired 100% ownership of the Oakley Project in Cassia County, Idaho as part of the Otis Gold Corp. (“Otis”) acquisition. 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 $7,500 and cash payments to the Company of $550 over a six-year period. Excellon was Project Manager and earned 10% of the approved exploration expenditures for technical oversight and project management until November 30, 2021. Centerra now manages the Oakley Project directly. In Q1 2021 and Q1 2022, the Company received a payment of $ 75 100 2,571 (3) Refer to Note 4 – mineral rights related to the Platosa Mine were included in the Platosa Mine CGU tested for impairment at December 31, 2021. An impairment of $ 385

PROVISIONS (Tables)

PROVISIONS (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF PROVISIONS	SCHEDULE OF PROVISIONS Post-retirement Rehabilitation benefits (1) provision (2) Total $ $ $ Year ended December 31, 2021 Opening balance 652 1,556 2,208 Termination payments (62 ) - (62 ) Change in estimate 968 223 1,191 Accretion for the period 236 85 321 Exchange differences 1 (51 ) (50 ) Closing balance 1,795 1,813 3,608 Current 1,795 - 1,795 Non-current - 1,813 1,813 Period ended September 30, 2022 Opening balance 1,795 1,813 3,608 Termination payments (80 ) - (80 ) Change in estimate (354 ) - (354 ) Accretion for the period 466 96 562 Exchange differences 29 24 53 Closing balance 1,856 1,933 3,789 Current 1,856 - 1,856 Non-current - 1,933 1,933 (1) Post-retirement benefits: Under Mexican labour law, the Company provides post-retirement indemnities and severance benefits to its employees terminated under certain circumstances. Key assumptions used by the independent 3 rd 7.00 4 3.75 22 (2) Rehabilitation provision: Key financial assumptions used in the above estimate include independent 3 rd 6.68 7.19 2.0 1.0 1.0

CONVERTIBLE DEBENTURES (Tables)

CONVERTIBLE DEBENTURES (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about borrowings [abstract]
SUMMARY OF DEBT COMPONENT	SUMMARY OF DEBT COMPONENT $ CAD $ USD Year ended December 31, 2021 Opening balance 9,299 7,283 Interest expense 4,294 3,427 Value of shares issued to settle interest payable (1,791 ) (1,433 ) Exchange differences - (39 ) Closing balance 11,802 9,238 Current - - Non-current 11,802 9,238 Period ended September 30, 2022 Opening balance 11,802 9,238 Interest expense 3,678 2,868 Value of shares issued to settle interest payable (888 ) (694 ) Exchange differences - (766 ) Closing balance 14,592 10,646 Current 14,592 10,646 Non-current - -

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2021 Opening balance 32,339 136,199 Shares issued on exercise of stock options 15 54 Shares issued on exercise of RSUs and DSUs 281 970 Value of shares issued in asset acquisition (1) 232 305 Shares issued to settle interest on convertible debentures (2) 896 1,433 Balance at December 31, 2021 33,763 138,961 Period ended September 30, 2022 Opening balance 33,763 138,961 Shares issued on exercise of RSUs and DSUs 162 282 Value of shares issued in asset acquisition (1) 1,330 450 Shares issued to settle interest on convertible debentures (2) 1,388 694 Balance at September 30, 2022 36,643 140,387 (1) In accordance with the Globex Agreement (Note 5), the Company issued 232,240 385 305 1,329,787 598 450 (2) The Company elected to pay the June 30, 2021, December 31, 2021, and June 30, 2022 interest payments on the Debentures (Note 7) in common shares valued at C$ 888 727 903 706 888 694
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 (1) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2021 847,437 4.21 2,538,588 6.00 465,511 491,330 Granted/issued 257,500 3.73 - - 466,122 209,353 Exercised/settled (15,000 ) 3.05 - - (41,117 ) (244,485 ) Expired (104,366 ) 5.61 (1,092,400 ) 7.00 (54,448 ) - Forfeited (40,084 ) 3.85 - - (168,659 ) - Outstanding at December 31, 2021 945,487 3.96 1,446,188 5.24 667,409 456,198 Exercisable at December 31, 2021 816,987 4.03 1,446,188 5.24 - - Options Warrants Options Outstanding Weighted Average Exercise Price (CAD) Warrants Outstanding (1) Weighted Average Exercise Price (CAD) RSUs Outstanding DSUs Outstanding Outstanding at January 1, 2022 945,487 3.96 1,446,188 5.24 667,409 456,198 Granted/issued 942,000 0.58 - - 917,948 380,417 Exercised/settled - 0.00 - - (31,787 ) (130,455 ) Expired (208,750 ) 4.66 (302,760 ) 3.30 - - Forfeited (18,125 ) 3.95 - - (405,070 ) - Outstanding at September 30, 2022 1,660,612 1.96 1,143,428 5.75 1,148,500 706,160 Exercisable at September 30, 2022 961,612 2.93 1,143,428 5.75 - - (1) At September 30, 2022, the Company has 1,143,428 5.75 302,760 3.30
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 $ 0.00 1.99 987,000 2.67 288,000 0.68 $ 2.00 3.99 313,037 0.96 313,037 2.97 $ 4.00 5.99 337,575 1.65 337,575 4.47 $ 6.00 7.99 5,000 0.55 5,000 7.50 $ 8.00 9.99 18,000 0.48 18,000 8.10 1,660,612 2.11 961,612 2.93
SCHEDULE OF SHARE BASED COMPENSATION EXPENSE	Share-based payment expense is recognized over the vesting period of the grant with the corresponding equity impact recorded in contributed surplus. Share-based payment expense comprises the following: SCHEDULE OF SHARE BASED COMPENSATION EXPENSE Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Stock options 101 82 140 427 RSU (65 ) 152 87 439 DSU 109 52 178 548 145 286 405 1,414

PROVISION FOR LITIGATION (Table

PROVISION FOR LITIGATION (Tables)	9 Months Ended
	Sep. 30, 2022
Provisions [abstract]
SCHEDULE OF PROVISION FOR LITIGATION	SCHEDULE OF PROVISION FOR LITIGATION September 30 December 31 2022 2021 $ $ Opening balance 22,162 - Provision recognized - 22,282 Transfer from accruals - 243 Interest 3 1 Exchange differences (1) 14 (364 ) Closing balance 22,179 22,162 (1) Exchange differences include unrealized foreign exchange gain ($ 280 294 294 658

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE	The Company recognized the following amounts related to revenue: SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Concentrate revenue from contracts with customers 7,569 9,451 24,557 28,736 Provisional pricing adjustments on concentrate sales (587 ) (300 ) (1,297 ) (87 ) Total revenue 6,982 9,151 23,260 28,649
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table sets out the disaggregation of revenue by metal: SCHEDULE OF DISAGGREGATION OF REVENUE 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Concentrate revenue: Silver 4,914 5,882 14,532 18,496 Lead 1,089 1,457 3,140 4,215 Zinc 979 1,812 5,588 5,938 Total revenue 6,982 9,151 23,260 28,649

EXPENSES BY NATURE (Tables)

EXPENSES BY NATURE (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF COST OF SALES	(a) Cost of sales consists of the following: SCHEDULE OF COST OF SALES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Direct mining and milling costs (1) 4,716 5,992 15,900 18,386 Write-down (recovery) of materials and supplies - - 532 (24 ) Changes in inventories (2) (137 ) (425 ) 100 (829 ) Depletion and amortization 1,153 1,809 6,370 5,372 Cost of sales 5,732 7,376 22,902 22,905 (1) Direct mining and milling costs include personnel, administrative, fuel, electricity, supplies, transport, maintenance and repair costs. (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 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Office and overhead 567 517 1,584 1,742 Salaries and wages 355 395 1,051 1,537 Corporate development and legal 107 115 351 227 Public company costs 51 40 118 156 Administrative expenses 1,080 1,067 3,104 3,662
SCHEDULE OF OTHER INCOME EXPENSES	(c) Other expenses (income) consist of the following: SCHEDULE OF OTHER INCOME EXPENSES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Fair value loss (gain) on marketable securities 8 (2 ) 67 696 Fair value loss on purchase warrants 5 14 44 120 Gain on disposal of property, plant and equipment (137 ) - (253 ) - Unrealized foreign exchange loss (gain) 343 (53 ) (160 ) 219 Realized foreign exchange (gain) loss (43 ) 22 (54 ) (134 ) Interest and other 71 70 162 55 Insurance proceeds received - - (592 ) - Management fee income (Note 5) - (45 ) - (112 ) Other expenses (income) 247 6 (786 ) 844

EXPLORATION AND HOLDING EXPEN_2

EXPLORATION AND HOLDING EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2022
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 2022 2021 2022 2021 $ $ $ $ Platosa property (Mexico) - exploration work (1) 151 305 559 1,559 - holding costs 52 50 155 149 Evolución (Mexico) - exploration work 29 61 98 195 - holding costs 86 72 257 216 Silver City (Germany) - exploration work 175 1,423 887 2,142 - holding costs (2) - - - - Kilgore (USA) - exploration work 1,721 497 2,213 1,020 - holding costs 130 130 130 130 Exploration and holding expenses 2,344 2,538 4,299 5,411 (1) Platosa property exploration excludes underground drilling at the Platosa Mine which is capitalized to property, plant and equipment (Note 4). (2) There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 5 for capitalized earn-in payments under the Globex Agreement.

FINANCE EXPENSES (Tables)

FINANCE EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF FINANCE EXPENSES	Finance expenses consist of the following: SCHEDULE OF FINANCE EXPENSES 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ Interest expense - Debentures (1) 926 748 2,868 2,380 Interest expense - other 5 25 43 69 Rehabilitation provision - accretion 32 22 96 59 Post-retirement benefits - accretion (2) 22 (107 ) 79 (91 ) Unrealized loss on currency hedges - - - 21 Finance expenses 985 688 3,086 2,438 (1) The Debentures are recorded at amortized cost and accreted to the principal amount over the term of the Debentures (Note 7). For the nine months ended September 30, 2022, $ 897 921 1,971 1,459 (2) Reflects the discounting of post-retirement benefit liabilities. The post-retirement benefit accretion presented in Note 6 includes current service cost accretion of $ 387 199

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY	SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY September 30 December 31 Fair value 2022 2021 hierarchy $ $ Financial assets Fair value through profit and loss Marketable securities Level 1 - 407 Warrants Level 2 3 47 Trade receivables from provisionally priced sales Level 2 891 326 Financial Assets 894 780

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2022
SCHEDULE OF SEGMENT REPORTING	SCHEDULE OF SEGMENT REPORTING 2022 2021 2022 2021 2022 2021 MEXICO CORPORATE TOTAL September 30 December 31 September 30 December 31 September 30 December 31 2022 2021 2022 2021 2022 2021 $ $ $ $ $ $ Property, plant and equipment 3,292 8,535 272 509 3,564 9,044 Additions - Property, plant and equipment 938 7,931 - 30 938 7,961 Mineral rights 16 193 20,498 20,080 20,514 20,273 Additions - Mineral rights - - 601 459 601 459 Total assets 9,829 15,309 23,128 26,251 32,957 41,560 Total liabilities 32,076 34,173 13,626 11,874 45,702 46,047 Excellon Resources Inc. Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (in thousands of U.S. dollars, except share and per share data) 2022 2021 2022 2021 Three months ended Nine months ended September 30 September 30 September 30 September 30 2022 2021 2022 2021 $ $ $ $ MEXICO Revenue 6,982 9,151 23,260 28,649 Cost of sales (5,732 ) (7,376 ) (22,902 ) (22,905 ) Exploration and holding expenses (318 ) (488 ) (1,069 ) (2,119 ) Other (expenses) income and foreign exchange gains (losses) (169 ) 31 535 (85 ) Provision for litigation (Note 9) - (22,277 ) - (22,277 ) Impairment loss (Note 4) - (752 ) - (752 ) Finance (expenses) income (55 ) 73 (197 ) (1 ) Income tax expense - (4,843 ) - (4,918 ) Net profit (loss) 708 (26,481 ) (373 ) (24,408 ) CORPORATE General and administrative expenses (1,279 ) (1,453 ) (3,781 ) (5,436 ) Exploration and holding expenses (2,026 ) (2,050 ) (3,230 ) (3,292 ) Other (expenses) income and foreign exchange gains (losses) (78 ) (37 ) 251 (759 ) Finance expenses (930 ) (761 ) (2,889 ) (2,437 ) Income tax (expense) recovery (174 ) (78 ) (194 ) 5 Net loss (4,487 ) (4,379 ) (9,843 ) (11,919 ) Net loss (3,779 ) (30,860 ) (10,216 ) (36,327 )

BASIS OF PRESENTATION AND GOI_3

BASIS OF PRESENTATION AND GOING CONCERN (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Equity attributable to owners of parent	$ 12,745	$ 4,487
Negative working capital	34,040
Current legal proceedings provision	$ 22,179	$ 22,162

SCHEDULE OF INVENTORIES (Detail

SCHEDULE OF INVENTORIES (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Inventories		$ 1,162	$ 2,087
Ore Stockpiles [Member]
IfrsStatementLineItems [Line Items]
Inventories	[1]	487	587
Concentrate Inventory [Member]
IfrsStatementLineItems [Line Items]
Inventories	[1]	260	250
Materials and Supplies [Member]
IfrsStatementLineItems [Line Items]
Inventories	[2]	$ 415	$ 1,250
[1]Change in inventories recorded in cost of sales (Note 11.a) excludes a currency translation adjustment of $ 10 43 532 24

SCHEDULE OF INVENTORIES (Deta_2

SCHEDULE OF INVENTORIES (Details) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Schedule Of Inventories Details
Currency translation adjustment	$ 10		$ 43
Inventory write-down	$ 532
Recovery of inventory		$ 24

SCHEDULE OF PROPERTY, PLANT AND

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Cost		$ 72,259	$ 66,213
Accumulated amortization		(63,215)	(40,383)
Opening net book value		9,044	25,830
Additions		938	7,961
Disposals		(68)
Reclassification
Impairment loss recognised in profit or loss, property, plant and equipment	[1]		(16,155)
Depletion and amortization		(6,470)	(7,528)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]	120	(1,064)
Closing net book value		3,564	9,044
Cost		73,100	72,259
Accumulated amortization and impairment		(69,536)	(63,215)
Mining Properties [Member]
IfrsStatementLineItems [Line Items]
Cost		41,962	36,400
Accumulated amortization		(36,589)	(21,930)
Opening net book value		5,373	14,470
Additions		874	4,441
Disposals
Reclassification			2,131
Impairment loss recognised in profit or loss, property, plant and equipment	[1]		(10,471)
Depletion and amortization		(4,990)	(4,532)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]	93	(666)
Closing net book value		1,350	5,373
Cost		42,856	41,962
Accumulated amortization and impairment		(41,506)	(36,589)
Mining Equipment [Member]
IfrsStatementLineItems [Line Items]
Cost		21,995	21,272
Accumulated amortization		(19,305)	(12,552)
Opening net book value		2,690	8,720
Additions		7	516
Disposals		(68)
Reclassification		(630)	875
Impairment loss recognised in profit or loss, property, plant and equipment	[1]		(4,715)
Depletion and amortization		(157)	(2,373)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]	24	(333)
Closing net book value		1,866	2,690
Cost		20,426	21,995
Accumulated amortization and impairment		(18,560)	(19,305)
Processing Equipment [Member]
IfrsStatementLineItems [Line Items]
Cost		6,367	6,075
Accumulated amortization		(5,942)	(5,079)
Opening net book value		425	996
Additions		57	263
Disposals
Reclassification		744	196
Impairment loss recognised in profit or loss, property, plant and equipment	[1]		(738)
Depletion and amortization		(1,168)	(275)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]	18	(17)
Closing net book value		76	425
Cost		8,755	6,367
Accumulated amortization and impairment		(8,679)	(5,942)
Assets Under Construction [Member]
IfrsStatementLineItems [Line Items]
Cost			522
Accumulated amortization
Opening net book value			522
Additions			2,711
Disposals
Reclassification			(3,202)
Impairment loss recognised in profit or loss, property, plant and equipment	[1]
Depletion and amortization
Increase (decrease) through net exchange differences, property, plant and equipment	[2]		(31)
Closing net book value
Cost
Accumulated amortization and impairment
Corporate and Right of Use Assets [Member]
IfrsStatementLineItems [Line Items]
Cost		1,935	1,944
Accumulated amortization		(1,379)	(822)
Opening net book value		556	1,122
Additions			30
Disposals
Reclassification		(114)
Impairment loss recognised in profit or loss, property, plant and equipment	[1]		(231)
Depletion and amortization		(155)	(348)
Increase (decrease) through net exchange differences, property, plant and equipment	[2]	(15)	(17)
Closing net book value		272	556
Cost		1,063	1,935
Accumulated amortization and impairment		$ (791)	$ (1,379)
[1]On January 5, 2022, the Company announced that it was assessing the economic viability of mining at Platosa at achievable dewatering rates and with acceptable capital expenditures, beyond mid-2022. The mineral resources remaining beyond mid-2022 steepen significantly, with fewer vertical-tonnes-per-metre than historically encountered. Based on the recent drilling results and consideration of current and expected economic factors, the Company wound down operations at Platosa in early Q4 2022.[2]Unrealized foreign exchange losses on translation of Mexican peso assets at the period-end exchange rate.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Reserve Quantities [Line Items]
Impairment loss of property and equipments		$ 752		$ 752
Platosa Mine CGU [Member]
Reserve Quantities [Line Items]
Recoverable amount					$ 7,264
Impairment loss of property and equipments					$ 14,293
Future commodity price assumption rate					10%
Recoverable amount and impairment					$ 2,133
Residual value for change in recoverable amount and impairment					292
Miguel Auza CGU [Member]
Reserve Quantities [Line Items]
Recoverable amount					1,338
Impairment loss of property and equipments		$ 752
Platosa Mine and Miguel Auza [Member]
Reserve Quantities [Line Items]
Impairment loss of property and equipments					15,403
Miguel Auza [Member]
Reserve Quantities [Line Items]
Impairment loss of property and equipments					$ 1,110

SCHEDULE OF MINERAL RIGHTS (Det

SCHEDULE OF MINERAL RIGHTS (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Payments received under earn-in agreement				$ (100)	$ (75)
Impairment			$ (752)		(752)
Mineral Rights Platosa Mexico [Member]
IfrsStatementLineItems [Line Items]
Cost				3,665	3,721	$ 3,721
Accumulated amortization				(3,472)	(2,917)	(2,917)
Opening net book value				193	804	804
Additions
Payments received under earn-in agreement
Depletion and amortization				(172)		(219)
Impairment	[1]					(385)
Exchange differences				(5)		(7)
Closing net book value		16		16		193
Cost		3,556		3,556		3,665
Accumulated amortization and impairment		(3,540)		(3,540)		(3,472)
Mineral Rights Silver City Germany [Member]
IfrsStatementLineItems [Line Items]
Cost				1,035	587	587
Accumulated amortization
Opening net book value				1,035	587	587
Additions				601		459
Payments received under earn-in agreement
Depletion and amortization
Impairment	[1]
Exchange differences				(83)		(11)
Closing net book value		1,553		1,553		1,035
Cost		1,553		1,553		1,035
Accumulated amortization and impairment
Mineral Rights Kilgore Idaho [Member]
IfrsStatementLineItems [Line Items]
Cost				13,756	13,756	13,756
Accumulated amortization
Opening net book value				13,756	13,756	13,756
Additions
Payments received under earn-in agreement
Depletion and amortization
Impairment	[1]
Exchange differences
Closing net book value		13,756		13,756		13,756
Cost		13,756		13,756		13,756
Accumulated amortization and impairment
Mineral Rights Oakley Idaho [Member]
IfrsStatementLineItems [Line Items]
Cost				5,289	5,364	5,364
Accumulated amortization
Opening net book value				5,289	5,364	5,364
Additions
Payments received under earn-in agreement				(100)		(75)
Depletion and amortization
Impairment	[1]
Exchange differences
Closing net book value		5,189		5,189		5,289
Cost		5,189		5,189		5,289
Accumulated amortization and impairment
Total [Member]
IfrsStatementLineItems [Line Items]
Cost				23,745	23,428	23,428
Accumulated amortization				(3,472)	(2,917)	(2,917)
Opening net book value				20,273	$ 20,511	20,511
Additions				601		459
Payments received under earn-in agreement				(100)		(75)
Depletion and amortization				(172)		(219)
Impairment	[1]					(385)
Exchange differences				(88)		(18)
Closing net book value		20,514		20,514		20,273
Cost		24,054		24,054		23,745
Accumulated amortization and impairment		$ (3,540)		$ (3,540)		$ (3,472)
[1]Refer to Note 4 – mineral rights related to the Platosa Mine were included in the Platosa Mine CGU tested for impairment at December 31, 2021. An impairment of $ 385

SCHEDULE OF MINERAL RIGHTS (D_2

SCHEDULE OF MINERAL RIGHTS (Details) (Parenthetical) $ in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Apr. 22, 2020

Feb. 26, 2020

Sep. 24, 2019 CAD ($)

Dec. 31, 2022

Sep. 30, 2022 USD ($)

Sep. 30, 2022 CAD ($)

Mar. 31, 2022 USD ($)

Sep. 30, 2021 USD ($)

Sep. 30, 2021 CAD ($)

Mar. 31, 2021 USD ($)

Sep. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Dec. 31, 2021 USD ($)

IfrsStatementLineItems [Line Items]

Payment received earning agreement

$ 100

$ 75

Exploration expenditures

$ 2,571

$ 2,571

Impairment

$ 752

$ 752

Platosa Mine [Member]

IfrsStatementLineItems [Line Items]

Impairment

$ 385

Mineral Rights Silver City Germany [Member] | Globex Agreement [Member] | Globex Mining Enterprises Inc [Member]

IfrsStatementLineItems [Line Items]

Percentage of voting equity interests acquired

100%

Payment for acquisition

$ 500

Shares issued during the period for acquisition, value

$ 1,600

Royalty for precious metals

3%

Royalty for other metals

2.50%

Reduction on royalty description

reduced by 1% upon a payment of $1,500. Additional one-time payments of C$300 and C$700 are to be made by the Company following any future announcement of a maiden mineral resource estimate on the property and upon achievement of commercial production from the project, respectively.

reduced by 1% upon a payment of $1,500. Additional one-time payments of C$300 and C$700 are to be made by the Company following any future announcement of a maiden mineral resource estimate 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] | Second Issuance [Member]

IfrsStatementLineItems [Line Items]

Payment for acquisition

$ 200

$ 100

Shares issued during the period for acquisition, value

$ 625

$ 425

Mineral Rights Silver City Germany [Member] | Globex Agreement [Member] | Globex Mining Enterprises Inc [Member] | First Issuance [Member]

IfrsStatementLineItems [Line Items]

Addition to mineral rights

$ 601

$ 415

Otis Gold Corp [Member] | Kilgore Gold Project [Member]

IfrsStatementLineItems [Line Items]

Project descriptions

On April 22, 2020, the Company acquired 100% ownership of the Oakley Project in Cassia County, Idaho as part of the Otis Gold Corp. (“Otis”) acquisition.

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 $7,500 and cash payments to the Company of $550 over a six-year period. Excellon was Project Manager and earned 10% of the approved exploration expenditures for technical oversight and project management until November 30, 2021. Centerra now manages the Oakley Project directly.

SCHEDULE OF PROVISIONS (Details

SCHEDULE OF PROVISIONS (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Opening balance		$ 3,608	$ 2,208
Termination payments		(80)	(62)
Change in estimate		(354)	1,191
Change in estimate		562	321
Exchange differences		53	(50)
Closing balance		3,789	3,608
Current		1,856	1,795
Non-current		1,933	1,813
Post-employment medical defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Opening balance	[1]	1,795	652
Termination payments	[1]	(80)	(62)
Change in estimate	[1]	(354)	968
Change in estimate	[1]	466	236
Exchange differences	[1]	29	1
Closing balance	[1]	1,856	1,795
Current	[1]	1,856	1,795
Non-current	[1]
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Opening balance	[2]	1,813	1,556
Termination payments	[2]
Change in estimate	[2]	96	223
Change in estimate	[2]		85
Exchange differences	[2]	24	(51)
Closing balance	[2]	1,933	1,813
Current	[2]
Non-current	[2]	$ 1,933	$ 1,813
[1]Post-retirement benefits: Under Mexican labour law, the Company provides post-retirement indemnities and severance benefits to its employees terminated under certain circumstances. Key assumptions used by the independent 3 rd 7.00 4 3.75 22 rd 6.68 7.19 2.0 1.0 1.0

SCHEDULE OF PROVISIONS (Detai_2

SCHEDULE OF PROVISIONS (Details) (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Actuarial assumption of discount rates	7%
Employee turnover rate	4%
Actuarial assumption of expected rates of salary increases	3.75%
Pension defined benefit plans [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Employee turnover rate	22%
Post-employment medical defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Undiscounted amount of obligations	$ 2
Post-employment medical defined benefit plans [member] | Platosa Mine [Member]
IfrsStatementLineItems [Line Items]
Actuarial assumption of discount rates	6.68%
Undiscounted amount of obligations	$ 1
Post-employment medical defined benefit plans [member] | Miguel Auza [Member]
IfrsStatementLineItems [Line Items]
Actuarial assumption of discount rates	7.19%
Undiscounted amount of obligations	$ 1

SUMMARY OF DEBT COMPONENT (Deta

SUMMARY OF DEBT COMPONENT (Details) $ in Thousands, $ in Thousands	9 Months Ended			12 Months Ended
	Sep. 30, 2022 USD ($)		Sep. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)		Dec. 31, 2021 CAD ($)
Disclosure of detailed information about borrowings [abstract]
Opening balance	$ 9,238		$ 11,802	$ 7,283		$ 9,299
Interest expense	2,868		3,678	3,427		4,294
Value of shares issued to settle interest payable	(694)	[1]	(888)	(1,433)	[1]	(1,791)
Exchange differences	(766)			(39)
Closing balance	10,646		14,592	9,238		11,802
Current	10,646		14,592
Non-Current				$ 9,238		$ 11,802
[1]The Company elected to pay the June 30, 2021, December 31, 2021, and June 30, 2022 interest payments on the Debentures (Note 7) in common shares valued at C$ 888 727 903 706 888 694

CONVERTIBLE DEBENTURES (Details

CONVERTIBLE DEBENTURES (Details Narrative) $ / shares in Units, $ in Thousands, $ in Thousands			6 Months Ended				9 Months Ended			12 Months Ended
	Jul. 30, 2020 USD ($) shares	Jul. 30, 2020 CAD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CAD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 CAD ($)	Sep. 30, 2022 USD ($)		Sep. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)		Dec. 31, 2021 CAD ($)	Jul. 30, 2022 $ / shares	Jul. 30, 2020 CAD ($) $ / shares shares
IfrsStatementLineItems [Line Items]
Interest payments							$ 694	[1]	$ 888	$ 1,433	[1]	$ 1,791
Interest expense							2,868		3,678	3,427		4,294
Secured Convertible Debentures [Member]
IfrsStatementLineItems [Line Items]
Proceeds from issue of bonds, notes and debentures | $		$ 17,910
Borrowing term	36 months	36 months
Conversion price														$ 5.30
Interest rate	5.75%													5.75%
Effective annual rate	10%													10%
Warrants issued to purchase common stock | shares	1,006,542													1,006,542
Exercise price per share														$ 5.75
Proceeds from issuance of debentures	$ 12,800	$ 17,100
Transaction costs	572	$ 768
Debt fair value	6,298													$ 8,459
Residual portion	4,751													6,382
Deferred tax recovery	$ 1,713													$ 2,301
Interest payments			$ 694	$ 888	$ 727	$ 888				$ 706		$ 903
Interest expense							$ 2,868		$ 3,678
Secured Convertible Debentures [Member] | Broker Warrant [Member]
IfrsStatementLineItems [Line Items]
Granted | shares	136,886	136,886
Expiration date	Jul. 30, 2023	Jul. 30, 2023
Secured Convertible Debentures [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Conversion price													$ 12.50
[1]The Company elected to pay the June 30, 2021, December 31, 2021, and June 30, 2022 interest payments on the Debentures (Note 7) in common shares valued at C$ 888 727 903 706 888 694

SCHEDULE OF AUTHORIZED SHARE CA

SCHEDULE OF AUTHORIZED SHARE CAPITAL (Details) shares in Thousands, $ in Thousands, $ in Thousands		9 Months Ended			12 Months Ended
		Sep. 30, 2022 USD ($) shares		Sep. 30, 2022 CAD ($) shares	Dec. 31, 2021 USD ($) shares		Dec. 31, 2021 CAD ($) shares
Opening balance, shares		33,763		33,763	32,339		32,339
Opening balance | $		$ 138,961			$ 136,199
Shares issued on exercise of stock options, shares					15		15
Shares issued on exercise of stock options | $					$ 54
Shares issued on exercise of RSUs and DSUs, shares		162		162	281		281
Shares issued on exercise of RSUs and DSUs | $		$ 282			$ 970
Value of shares issued in asset acquisition, shares	[1]	1,330		1,330	232		232
Value of shares issued in asset acquisition | $	[1]	$ 450			$ 305
Shares issued to settle interest on convertible debentures, shares	[2]	1,388		1,388	896		896
Shares issued to settle interest on convertible debentures		$ 694	[2]	$ 888	$ 1,433	[2]	$ 1,791
Ending balance, shares		36,643		36,643	33,763		33,763
Ending balance | $		$ 140,387			$ 138,961
[1]In accordance with the Globex Agreement (Note 5), the Company issued 232,240 385 305 1,329,787 598 450 888 727 903 706 888 694

SCHEDULE OF AUTHORIZED SHARE _2

SCHEDULE OF AUTHORIZED SHARE CAPITAL (Details) (Parenthetical) $ in Thousands, $ in Thousands	Sep. 20, 2022 USD ($) shares	Sep. 20, 2022 CAD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)	Sep. 22, 2021 USD ($) shares	Sep. 22, 2021 CAD ($) shares	Jun. 30, 2021 USD ($)	Jun. 30, 2021 CAD ($)
IfrsStatementLineItems [Line Items]
Interest payments on debentures			$ 694	$ 888	$ 706	$ 903			$ 727	$ 888
Globex Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of shares issued	1,329,787	1,329,787					232,240	232,240
Value of common shares issued	$ 450	$ 598					$ 305	$ 385

SCHEDULE OF OUTSTANDING NUMBER

SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES (Details)		9 Months Ended	12 Months Ended
		Sep. 30, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
IfrsStatementLineItems [Line Items]
Outstanding, Ending Balance		1,660,612
Exercisable, ending balance		961,612
Weighted Average Exercise Price Exercisable, Ending Balance | $ / shares		$ 2.93
Warrants [Member]
IfrsStatementLineItems [Line Items]
Outstanding beginning balance	[1]	1,446,188	2,538,588
Weighted Average Exercise Price, Beginning Balance | $ / shares		$ 5.24	$ 6
Granted/issued	[1]
Weighted Average Exercise Price, Granted/issued | $ / shares
Exercised/settled	[1]
Weighted Average Exercise Price, Exercised/settled | $ / shares
Expired	[1]	(302,760)	(1,092,400)
Weighted Average Exercise Price, Expired | $ / shares		$ 3.30	$ 7
Forfeited	[1]
Weighted Average Exercise Price, Forfeited | $ / shares
Outstanding, Ending Balance	[1]	1,143,428	1,446,188
Weighted Average Exercise Price, Ending Balance | $ / shares		$ 5.75	$ 5.24
Exercisable, ending balance	[1]	1,143,428	1,446,188
Weighted Average Exercise Price Exercisable, Ending Balance | $ / shares		$ 5.75	$ 5.24
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Outstanding beginning balance		945,487	847,437
Weighted Average Exercise Price, Beginning Balance | $ / shares		$ 3.96	$ 4.21
Granted/issued		942,000	257,500
Weighted Average Exercise Price, Granted/issued | $ / shares		$ 0.58	$ 3.73
Exercised/settled			(15,000)
Weighted Average Exercise Price, Exercised/settled | $ / shares		$ 0	$ 3.05
Expired		(208,750)	(104,366)
Weighted Average Exercise Price, Expired | $ / shares		$ 4.66	$ 5.61
Forfeited		(18,125)	(40,084)
Weighted Average Exercise Price, Forfeited | $ / shares		$ 3.95	$ 3.85
Outstanding, Ending Balance		1,660,612	945,487
Weighted Average Exercise Price, Ending Balance | $ / shares		$ 1.96	$ 3.96
Exercisable, ending balance		961,612	816,987
Weighted Average Exercise Price Exercisable, Ending Balance | $ / shares		$ 2.93	$ 4.03
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Outstanding beginning balance		667,409	465,511
Granted/issued		917,948	466,122
Exercised/settled		(31,787)	(41,117)
Expired			(54,448)
Forfeited		(405,070)	(168,659)
Outstanding, Ending Balance		1,148,500	667,409
Exercisable, ending balance
Deferred Stock Units (DSUs) [Member]
IfrsStatementLineItems [Line Items]
Outstanding beginning balance		456,198	491,330
Granted/issued		380,417	209,353
Exercised/settled		(130,455)	(244,485)
Expired
Forfeited
Outstanding, Ending Balance		706,160	456,198
Exercisable, ending balance
[1]At September 30, 2022, the Company has 1,143,428 5.75 302,760 3.30

SCHEDULE OF OUTSTANDING NUMBE_2

SCHEDULE OF OUTSTANDING NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES (Details) (Parenthetical)			9 Months Ended
	Mar. 29, 2022 shares	Mar. 29, 2022 $ / shares	Sep. 30, 2022 shares $ / shares
Warrants Exercise Price 5.75 [Member]
IfrsStatementLineItems [Line Items]
Number of other equity instruments granted in share-based payment arrangement | shares			1,143,428
Warrant exercise price per share | $ / shares			$ 5.75
Warrants Exercise Price 3.30 Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of other equity instruments granted in share-based payment arrangement	302,760	3.30

SCHEDULE OF OPTIONS OUTSTANDING

SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE (Details)	9 Months Ended
	Sep. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	1,660,612
Weighted Average Remaining Contractual Life (years)	2 years 1 month 9 days
Stock Options Exercisable | shares	961,612
Weighted Average Exercise Price	$ 2.93
Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	987,000
Weighted Average Remaining Contractual Life (years)	2 years 8 months 1 day
Stock Options Exercisable | shares	288,000
Weighted Average Exercise Price	$ 0.68
Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	313,037
Weighted Average Remaining Contractual Life (years)	11 months 15 days
Stock Options Exercisable | shares	313,037
Weighted Average Exercise Price	$ 2.97
Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	337,575
Weighted Average Remaining Contractual Life (years)	1 year 7 months 24 days
Stock Options Exercisable | shares	337,575
Weighted Average Exercise Price	$ 4.47
Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	5,000
Weighted Average Remaining Contractual Life (years)	6 months 18 days
Stock Options Exercisable | shares	5,000
Weighted Average Exercise Price	$ 7.50
Exercise Price Five [Member]
IfrsStatementLineItems [Line Items]
Stock Options Outstanding | shares	18,000
Weighted Average Remaining Contractual Life (years)	5 months 23 days
Stock Options Exercisable | shares	18,000
Weighted Average Exercise Price	$ 8.10
Bottom of range [member] | Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	0
Bottom of range [member] | Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	2
Bottom of range [member] | Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	4
Bottom of range [member] | Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	6
Bottom of range [member] | Exercise Price Five [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	8
Top of range [member] | Exercise Price One [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	1.99
Top of range [member] | Exercise Price Two [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	3.99
Top of range [member] | Exercise Price Three [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	5.99
Top of range [member] | Exercise Price Four [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	7.99
Top of range [member] | Exercise Price Five [Member]
IfrsStatementLineItems [Line Items]
Exercise Price Range	$ 9.99

SCHEDULE OF SHARE BASED COMPENS

SCHEDULE OF SHARE BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	$ 145	$ 286	$ 405	$ 1,414
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	101	82	140	427
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	(65)	152	87	439
Deferred Stock Units (DSUs) [Member]
IfrsStatementLineItems [Line Items]
Share-based compensation expenses	$ 109	$ 52	$ 178	$ 548

SCHEDULE OF PROVISION FOR LITIG

SCHEDULE OF PROVISION FOR LITIGATION (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Provisions [abstract]
Opening balance		$ 22,162
Provision recognized			22,282
Transfer from accruals			243
Interest		3	1
Exchange differences	[1]	14	(364)
Closing balance		$ 22,179	$ 22,162
[1]Exchange differences include unrealized foreign exchange gain ($ 280 294 294 658

SCHEDULE OF PROVISION FOR LIT_2

SCHEDULE OF PROVISION FOR LITIGATION (Details) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Provisions [abstract]
Unrealized foreign exchange gain loss	$ 280	$ 294
Currency translation adjustment gain loss	$ 294	$ 658

PROVISION FOR LITIGATION (Detai

PROVISION FOR LITIGATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
ProvisionForLegalLitigation	$ 22,175	$ 22,175
Assets		32,957	$ 41,560
Property, plant and equipment		3,564	$ 9,044	$ 25,830
San Pedro [Member]
IfrsStatementLineItems [Line Items]
Assets		1,200
Property, plant and equipment		1,100
Value added tax recoverable		$ 100
Platosa Project Net Smelter Return [Member]
IfrsStatementLineItems [Line Items]
Minimum payment for plaintiff		$ 2.5
Interest rate of plaintiff		3%
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

SCHEDULE OF RECOGNIZED AMOUNTS

SCHEDULE OF RECOGNIZED AMOUNTS RELATED TO REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Concentrate revenue from contracts with customers	$ 7,569	$ 9,451	$ 24,557	$ 28,736
Provisional pricing adjustments on concentrate sales	(587)	(300)	(1,297)	(87)
Total revenue	$ 6,982	$ 9,151	$ 23,260	$ 28,649

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
IfrsStatementLineItems [Line Items]
Total revenue	$ 6,982	$ 9,151	$ 23,260	$ 28,649
Concentrate Revenues From Contracts With Customers Silver [Member]
IfrsStatementLineItems [Line Items]
Total revenue	4,914	5,882	14,532	18,496
Concentrate Revenues From Contracts With Customers Lead [Member]
IfrsStatementLineItems [Line Items]
Total revenue	1,089	1,457	3,140	4,215
Concentrate Revenues From Contracts With Customers Zinc [Member]
IfrsStatementLineItems [Line Items]
Total revenue	$ 979	$ 1,812	$ 5,588	$ 5,938

SCHEDULE OF COST OF SALES (Deta

SCHEDULE OF COST OF SALES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Direct mining and milling costs	[1]	$ 4,716	$ 5,992	$ 15,900	$ 18,386
Write-down (recovery) of materials and supplies				532	(24)
Changes in inventories	[2]	(137)	(425)	100	(829)
Depletion and amortization		1,153	1,809	6,370	5,372
Cost of sales		$ 5,732	$ 7,376	$ 22,902	$ 22,905
[1]Direct mining and milling costs include personnel, administrative, fuel, electricity, supplies, transport, maintenance and repair costs.[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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Office and overhead	$ 567	$ 517	$ 1,584	$ 1,742
Salaries and wages	355	395	1,051	1,537
Corporate development and legal	107	115	351	227
Public company costs	51	40	118	156
Administrative expenses	$ 1,080	$ 1,067	$ 3,104	$ 3,662

SCHEDULE OF OTHER INCOME EXPENS

SCHEDULE OF OTHER INCOME EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair value loss (gain) on marketable securities	$ 8	$ (2)	$ 67	$ 696
Fair value loss on purchase warrants	5	14	44	120
Gain on disposal of property, plant and equipment	(137)		(253)
Unrealized foreign exchange loss (gain)	343	(53)	(160)	219
Realized foreign exchange (gain) loss	(43)	22	(54)	(134)
Interest and other	71	70	162	55
Insurance proceeds received			(592)
Management fee income (Note 5)		(45)		(112)
Other expenses (income)	$ 247	$ 6	$ (786)	$ 844

SCHEDULE OF EXPLORATION AND HOL

SCHEDULE OF EXPLORATION AND HOLDING EXPENSES (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
IfrsStatementLineItems [Line Items]
Exploration and holding expenses		$ 2,344	$ 2,538	$ 4,299	$ 5,411
Platosa Property (Mexico) [Member]
IfrsStatementLineItems [Line Items]
Exploration work	[1]	151	305	559	1,559
Holding costs		52	50	155	149
Evolucion (Mexico) [Member]
IfrsStatementLineItems [Line Items]
Exploration work		29	61	98	195
Holding costs		86	72	257	216
Silver City (Germany) [Member]
IfrsStatementLineItems [Line Items]
Exploration work		175	1,423	887	2,142
Holding costs	[2]
Kilgore (USA) [Member]
IfrsStatementLineItems [Line Items]
Exploration work		1,721	497	2,213	1,020
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 4).[2]There are no annual fees associated with exploration licenses in Saxony, Germany. See Note 5 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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest expense - Debentures	[1]	$ 926	$ 748	$ 2,868	$ 2,380
Interest expense - other		5	25	43	69
Rehabilitation provision - accretion		32	22	96	59
Post-retirement benefits - accretion		22	(107)	79	(91)
Unrealized loss on currency hedges					21
Finance expenses		$ 985	$ 688	$ 3,086	$ 2,438
[1]The Debentures are recorded at amortized cost and accreted to the principal amount over the term of the Debentures (Note 7). For the nine months ended September 30, 2022, $ 897 921 1,971 1,459

SCHEDULE OF FINANCE EXPENSES _2

SCHEDULE OF FINANCE EXPENSES (Details) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Interest payments on debentures in shares	$ 897	$ 921
Additional accretion on debentures	1,971	$ 1,459
Current service cost accretion	$ 387		$ 199

SCHEDULE OF THREE LEVELS OF FAI

SCHEDULE OF THREE LEVELS OF FAIR VALUE HIERARCHY (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Financial Assets	$ 894	$ 780
Level 1 of fair value hierarchy [member] | Marketable Securities [Member]
IfrsStatementLineItems [Line Items]
Financial Assets		407
Level 2 of fair value hierarchy [member] | Warrants [Member]
IfrsStatementLineItems [Line Items]
Financial Assets	3	47
Level 2 of fair value hierarchy [member] | Trade receivables [member]
IfrsStatementLineItems [Line Items]
Financial Assets	$ 891	$ 326

SCHEDULE OF SEGMENT REPORTING (

SCHEDULE OF SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Property, plant and equipment	$ 3,564		$ 3,564		$ 9,044	$ 25,830
Additions - Property, plant and equipment	938		938		7,961
Mineral rights	20,514		20,514		20,273
Additions - Mineral rights	601		601		459
Total assets	32,957		32,957		41,560
Total liabilities	45,702		45,702		46,047
Revenue	6,982	$ 9,151	23,260	$ 28,649
Cost of sales	(5,732)	(7,376)	(22,902)	(22,905)
Exploration and holding expenses	2,344	2,538	4,299	5,411
Other (expenses) income and foreign exchange gains (losses)	247	6	(786)	844
Provision for litigation (Note 9)		(22,277)		(22,277)
Impairment loss (Note 4)		(752)		(752)
Income tax (expense) recovery	174	4,921	194	4,913
Net loss	(3,779)	(30,860)	(10,216)	(36,327)
General and administrative expenses	1,279	1,453	3,781	5,436
Corporate [Member]
IfrsStatementLineItems [Line Items]
Property, plant and equipment	272		272		509
Additions - Property, plant and equipment					30
Mineral rights	20,498		20,498		20,080
Additions - Mineral rights	601		601		459
Total assets	23,128		23,128		26,251
Total liabilities	13,626		13,626		11,874
Exploration and holding expenses	(2,026)	(2,050)	(3,230)	(3,292)
Other (expenses) income and foreign exchange gains (losses)	(78)	(37)	251	(759)
Income tax (expense) recovery	(174)	(78)	(194)	5
Net loss	(4,487)	(4,379)	(9,843)	(11,919)
General and administrative expenses	(1,279)	(1,453)	(3,781)	(5,436)
Finance expenses	(930)	(761)	(2,889)	(2,437)
MX [Member]
IfrsStatementLineItems [Line Items]
Property, plant and equipment	3,292		3,292		8,535
Additions - Property, plant and equipment	938		938		7,931
Mineral rights	16		16		193
Additions - Mineral rights
Total assets	9,829		9,829		15,309
Total liabilities	32,076		32,076		$ 34,173
Revenue	6,982	9,151	23,260	28,649
Cost of sales	(5,732)	(7,376)	(22,902)	(22,905)
Exploration and holding expenses	(318)	(488)	(1,069)	(2,119)
Other (expenses) income and foreign exchange gains (losses)	(169)	31	535	(85)
Finance (expenses) income	(55)	73	(197)	(1)
Income tax (expense) recovery		(4,843)		(4,918)
Net loss	$ 708	$ (26,481)	$ (373)	$ (24,408)