The company's new CEO is a former minister of mines in Ecuador.

As part of the deal, Below is required to fund $285,000 of exploration expenditures prior to the first anniversary of the agreement.

Calibre posted a net income of $3.1 million for the quarter on revenue of $57.8 million.

Highlights of infill drilling include 9.2 metres of 66.8 g/t gold and 10.5 metres of 106.3 g/t gold.

The company drilled seven holes totalling 2,190 metres to follow up on areas identified during its three previous drill campaigns.

Last year, Excellon produced 2 million oz. of silver-equivalent.

The company now holds 10,000 acres of prospective land.