Excellon Resources Inc.

Excellon Resources Inc.

September 03, 2009 13:56 ET

Excellon Announces Additional High-Grade Drilling Results and Commencement of Exploration at Its Miguel Auza Property

TORONTO, ONTARIO--(Marketwire - Sept. 3, 2009) - Excellon Resources Inc. (TSX:EXN) is pleased to announce assay results for three holes designed to test for additional massive sulphide mineralization at Platosa in what is now known as the 623 Manto first encountered in hole LP623 and disclosed in a press release dated August 6, 2009.

Hole EX09-LP632 intersected 1,254 g/t Ag, 9.72% Pb and 10.89% Zn over 2.40 metres (m). This is included within a much wider intersection assaying 530 g/t Ag, 4.35% Pb, 6.18% Zn over 13.02 m. In addition Holes LP627 and LP628 intersected 3.83 and 1.73 m of massive sulphides respectively. The three holes are located within 20 to 25 m of hole 623 and are shown on the accompanying map. Assays are reported on the table below. All intervals are estimated true thicknesses. Holes LP630 and LP635, located 20 and 35 m from LP623 encountered breccia sulphides over short intervals and assays are pending. Two holes failed to intersect sulphides. The 623 Manto lies within a structurally complex area and drilling continues. The Company is optimistic that the manto will continue to expand as we increase our knowledge of its character and the detailed structure of the area.

The second Platosa drill continues to test for extensions to the NE-1 Manto. Holes LP620 and LP624 intersected narrow vein and fault-related zones carrying sulphides and assays are shown in the table. Hole LP631 intersected a narrow zone of breccia sulphides and assays are pending. Two holes failed to intersect sulphides and one hole was abandoned.

In other news, exploration at the Miguel Auza property has commenced. Emphasis will be on relogging selected drill core from the Calvario Vein system, with the goal of reaffirming the current known Mineral Resource and further defining above average grade Ag-Pb-Zn shoots within this resource. In addition many of the poorly-documented vein systems known on the property will be mapped and sampled. The numerous nearby similar-looking veins located within the historic mining district were originally mined for their high-grade silver content by the Spanish in the late 1500s.

"We are pleased that our Platosa drilling continues to outline high-grade sulphide mineralization well beyond the limits of our NI 43-101 Mineral Resource estimate. We are equally pleased that exploration has begun at Miguel Auza and look forward to continuing positive results from our two high-potential properties," said John Sullivan, Excellon's Vice-President Exploration.

The Platosa and Miguel Auza exploration programs are supervised by John R. Sullivan, Excellon's Vice-President of exploration. Drill core samples are prepared and assayed by SGS Minerals Services (SGS) in Durango, Mexico. When required, sample pulps are sent to SGS in Canada and further assaying is carried out at its ISO/IEC 17025 accredited laboratory in Toronto, Ontario.

Qualified Persons

Mr. John Sullivan, BSc., PGeo., has acted as the Qualified Person, as defined in National Instrument 43-101, for this disclosure and has supervised the preparation of the technical information on which this press release is based.

Mr. Sullivan is an economic geologist with over 35 years of experience in the mineral industry. Most recently a senior geologist at a Toronto-based international geological and mining engineering consulting firm, he has evaluated properties and prepared National Instrument 43-101 reports on gold and base metal projects in Canada and internationally. Mr. Sullivan is not independent of Excellon as he is an officer and holds common share purchase options.

Table: Sulphide Intersections and Assay Results

Interval Interval Interval
Location DDH No. from to width Silver Silver Lead Zinc
(metres) (metres) (metres) (g/t) (oz/T) (%) (%)
623 Manto LP627 218.67 222.50 3.83 290 8.5 3.83 0.48
LP628 240.29 242.02 1.73 812 23.7 5.70 0.63
LP632 232.56 245.58 13.02 530 15.5 4.35 6.18
Incl. 242.60 245.00 2.40 1,254 36.6 9.72 10.89
NE-1 Manto
Ext LP620 309.22 310.06 0.84 106 3.1 3.14 0.45
LP624 330.40 330.68 0.28 217 6.3 4.59 2.77

To view Map 1: Location Map, please visit the following link:


To view Map 2: Mantos and Recent Drill Hole Locations, please visit the following link: http://media3.marketwire.com/docs/Mantosmap.pdf

About Excellon

Excellon, a mineral resource company operating in Durango and Zacatecas States, Mexico, is committed to building value through production, expansion and discovery. Excellon is producing silver, lead and zinc from the high-grade manto Indicated Mineral Resource on its large Platosa Property, strategically located in the middle of the Mexican silver belt. In calendar 2009, Excellon's focus is on expanding its operating capacity and increasing its Mineral Resources at Platosa through an aggressive exploration program. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system. The equally large Miguel Auza property hosts a Probable Mineral Reserve, was the site of considerable historic mining for silver, (gold), lead and zinc and more recently was exploited by Silver Eagle during 2008. The exploration potential of Miguel Auza remains to be fully evaluated.

On behalf of


Andre Douchane, President & Chief Executive Officer

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced (particularly silver), the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and particularly the April 14, 2008 NI 43-101-compliant technical report prepared by Scott Wilson Roscoe Postle Associates Inc. with respect to the Platosa property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

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