Excellon Resources Inc.
TSX : EXN

Excellon Resources Inc.

November 18, 2008 14:00 ET

Excellon Encounters Additional High Grade Sulphides at Platosa

7.60 m grading 1,064 g/t (31.0 oz/T) silver, 14.55% lead and, 6.15% zinc 17.77 m grading 727 g/t (21.2 oz/T) silver, 8.00% lead and, 4.00% zinc

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2008) - Excellon Resources Inc. (TSX:EXN) announces assay results for massive, semi-massive and breccia sulphide intercepts from 11 recent holes in the Platosa Test-mine area. Nine of these holes have cut new mineralization in the NE-1 Manto, a sulphide body discovered since the preparation of Excellon's February 3, 2008 NI 43-101 compliant Mineral Resource estimate, and the Company believes that a significant tonnage of sulphide mineralization is developing there. The NE-1 Manto lies northeast of the Rodilla Manto and was previously referred to as "NE Rodilla". See the table and map below for detailed assay results. All reported intersections are estimated true thicknesses.

The best of the nine holes is LP614, which intersected 7.60 metres (m) grading 1,064 g/t (31.0 oz/T) silver, 14.55% lead and, 6.15% zinc.

Several holes in NE-1 have intersected multiple sulphide zones with distinctive compositions. Hole LP603, located 50 m southwest of LP614, intersected an upper manto 2.10 m thick grading 801 g/t (23.4 oz/T) silver, 9.51% lead and 15.87% zinc lying thirty metres above a second manto 17.77 m thick grading 727 g/t (21.2 oz/T) silver, 8.00% lead and 4.00% zinc.

Of further significance, eight holes in the NE-1 Manto have now intersected a silicified zone carrying persistent gold values ranging from 0.097 g/t gold over 1.39 m to 0.811 g/t gold over 10.39 m, lying from 75 to 220 metres above the sulphides. Assays are shown in the table below.

"We are pleased that our drilling has outlined important new manto sulphide mineralization at NE-1 and with the indications that NE-1 may be a feeder zone leading from a large-tonnage, proximal sulphide system of the sort the Company has long postulated exists at Platosa," said Peter A. Crossgrove, Excellon's chairman.

The Company also drilled 12 holes in close proximity to each other within the NI 43-101 Mineral Resource limits of the Guadalupe South Manto in support of certain test-mining activities. These holes, drilled subsequent to the press release of August 6, 2008, encountered sulphide intersections as expected given the hole locations, confirming continuity of mineralization in this area.

A further 19 holes, most of which are shown but not numbered on the map, were drilled in the test-mine area after the August 6, 2008 press release. Several encountered trace sulphides, but none intersected significant mineralization.

In light of continued depressed metal markets the Company has temporarily suspended exploration diamond drilling with the intention of resuming its drilling program in early 2009. At that time drilling will focus on the NE-1 Manto and geological and geophysical targets generated through recent field work and reevaluation of older data, including regional information. Nineteen regional holes were completed in calendar 2008 and the regional exploration team continues preparations for additional drilling in the Saltillera area approximately five kilometers to the west of the test-mine.



Table: Sulphide Intersections and Assay Results

----------------------------------------------------------------------------
Inter- Sul-
val Inter- Interval phide
Location DDH No. from val to width Silver Silver Lead Zinc Descri-
(metres) (metres) (metres) (g/t) (oz/T) (%) (%) ption
----------------------------------------------------------------------------
NE-1
Manto LP574 286.39 291.71 5.32 468 13.6 7.61 16.39 Massive
----------------------------------------------------------------------------
Massive-
semi-
LP583 292.43 297.48 5.05 352 10.3 5.04 8.79 massive
----------------------------------------------------------------------------
LP587 297.48 299.48 2.00 403 11.8 8.88 3.46 Massive
----------------------------------------------------------------------------
Semi-
LP592 303.58 312.98 9.40 286 8.3 2.66 3.28 massive
----------------------------------------------------------------------------
LP597 307.93 311.43 3.50 529 15.4 8.65 1.70 Massive
----------------------------------------------------------------------------
Sulphide
LP598 267.46 276.15 8.69 69 2.0 1.09 0.15 patches
----------------------------------------------------------------------------
LP599 298.62 300.13 1.51 1,342 39.1 22.15 0.05 Massive
----------------------------------------------------------------------------
LP603 216.50 218.60 2.10 801 23.4 9.51 15.87 Massive
----------------------------------------------------------------------------
Massive
& sul.
And 248.85 266.62 17.77 727 21.2 8.00 4.00 breccia
----------------------------------------------------------------------------
Massive
& sul.
Incl. 248.85 257.95 9.10 1,235 36.0 11.40 5.97 breccia
----------------------------------------------------------------------------
Incl. 262.75 266.62 3.87 432 12.6 9.90 4.28 Massive
----------------------------------------------------------------------------
LP614 301.95 309.55 7.60 1,064 31.0 14.55 6.15 Massive
----------------------------------------------------------------------------
Massive
S. Cent. & sul.
Guad. LP578 127.50 129.22 1.72 418 12.2 3.38 4.26 patches
----------------------------------------------------------------------------
NW
Guad- Semi-
alupe LP584 145.65 146.27 0.62 232 6.8 4.88 5.20 massive
----------------------------------------------------------------------------

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NE-1 Au
Au Zone (g/t)
----------------------------------------------------------------------------
LP562 assays were first
LP562 67.88 70.38 2.50 0.902 disclosed in August
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LP597 129.84 132.89 3.05 0.120
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LP599 121.60 122.65 1.05 0.106
----------------------------------------------------------------------------
LP603 139.15 140.54 1.39 0.097
----------------------------------------------------------------------------
LP607 136.00 137.13 1.13 0.373
----------------------------------------------------------------------------
LP609 127.59 128.10 0.51 0.212
----------------------------------------------------------------------------
LP611 131.75 133.75 2.00 0.341
----------------------------------------------------------------------------
LP614 72.56 82.95 10.39 0.811
----------------------------------------------------------------------------
And 129.70 134.67 4.97 0.423
----------------------------------------------------------------------------


The Platosa exploration program is supervised by John R. Sullivan, Excellon's vice-president of exploration. Drill core samples are prepared by SGS Minerals Services (SGS) in Durango, Mexico, with silver and gold and in most cases base metals, assayed in Durango. 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

Dr. Peter Megaw, PhD, CPG, and Mr. John Sullivan, BSc., PGeo., have acted as the Qualified Persons, as defined in National Instrument 43-101, for this disclosure and have supervised the preparation of the technical information on which this press release is based.

Dr. Megaw has a PhD in geology and more than 25 years of relevant experience focused on exploring silver and gold systems in Mexico. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent of Excellon as he is a shareholder.

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.

To view the Map 1: Location Map and the Map 2: Mantos and Recent Drill Hole Locations, please visit the following link: http://media3.marketwire.com/docs/exnmaps.pdf

About Excellon

Excellon, a mineral resource company operating in Durango State, Mexico, is committed to building value through production, expansion and discovery. The Company is producing silver, lead and zinc from high-grade manto deposits on its Platosa Property, strategically located in the middle of the Mexican silver belt. In fiscal 2009 Excellon's focus is on increasing its Mineral Resources through an aggressive $8.5 -million exploration program, and expanding its operating capacity with the building of a mill at site. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system.

On behalf of EXCELLON RESOURCES INC.

Peter A. Crossgrove, Chairman

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.

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.

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