Excellon Resources Inc.

Excellon Resources Inc.

October 16, 2007 08:01 ET

Excellon Expands Platosa's Rodilla Manto With 3 to 13 Metre Thick Massive Sulphide Intercepts

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2007) - Excellon Resources Inc. (TSX VENTURE:EXN) cut 3.4, 4.8 and 13.0 metres of massive sulphides in the first follow-up drilling to the Rodilla Manto discovery hole (LP326) announced January 22, 2007. LP326 was drilled in virgin ground 75 metres northeast of the Guadalupe Manto and cut 2 metres (estimated true thickness) of massive sulphides grading 1,143 g/t (36.8 oz/T) silver with 8.3% lead and 10.7% zinc. The intercepts in these three vertical holes are believed to be close to true thicknesses and mineralization consists largely of massive sphalerite and galena with 10-20% barite gangue. Assays for these holes are pending.

The combined Rodilla Manto holes show a consistent deepening and thickening trend from 2 metres in LP326 to 13 metres in LP408, which lies 38 metres to the northeast (see table and maps below). LP408 is the farthest hole from the Rodilla discovery hole and aggressive drilling continues to trace the continuation of the trend. Ten additional recent holes in the Rodilla and Guadalupe Manto area have cut trace mineralization similar to that which has historically been found peripheral to significant sulphide bodies at Platosa. Follow-up drilling is on-going.

"We are very pleased to see the Rodilla Manto grow into a major sulphide body so quickly and hope these intercepts can be incorporated into our pending Mineral Resource update," said Richard W. Brissenden, Excellon's CEO and president. "Eventually we expect to link Rodilla to the Guadalupe Manto, but the way Rodilla rises from the northeast suggests the presence of a parallel feeder structure that we have not previously encountered. We look forward to pursuing it with one of the two drill rigs we have dedicated to expanding the known sulphide bodies in and around our current operation."

Interval Interval
Azimuth Dip from to Interval
DDH No. (degrees) (degrees) (metres) (metres) (metres)
EX07LP326 330 -62 137.05 139.70 2.65
EX07LP405 0 90 138.35 141.77 3.42
EX07LP411 0 90 149.00 153.89 4.89
EX07LP408 0 90 154.40 167.46 13.06

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.

Please note: To view the Location Map, Mantos and Recent Drill Hole Locations, please visit the following link: http://www.ccnmatthews.com/docs/excellonmaps12.pdf

About Excellon

Excellon, a self-sustaining 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 2008, Excellon's focus is on increasing its Mineral Resources through an aggressive $11-million exploration program, expanding its operation, and studying the feasibility of building a mill at site. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system, the tracking of which Excellon believes will lead to the discovery of a world class deposit.


Richard W. Brissenden, President and Chief Executive Officer

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 possibility of expanding the Rodilla Manto, the possibility of linking the Rodilla and Guadalupe Mantos, the timing and results of future anticipated exploration programs, the discovery and delineation of mineral deposits/resources/reserves, 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, 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.

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 TSX Venture 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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