Excellon Resources Inc.
TSX VENTURE : EXN

Excellon Resources Inc.

January 04, 2008 09:44 ET

Excellon Grants Incentive Stock Options

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2008) - Excellon Resources Inc. (TSX VENTURE:EXN) is pleased to announce that, effective January 4, 2008, it has granted incentive stock options to certain directors, officers, employees and consultants allowing them to purchase up to an aggregate of 2,655,000 common shares. The options are exercisable at a price of $1.58 for a period of five years ending January 4, 2013. The options are subject to vesting provisions, whereby 25% vest immediately, a further 25% vest after 6 months, a further 25% vest after 12 months and the balance after 18 months.

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.

On behalf of

EXCELLON RESOURCES INC.

Richard W. Brissenden, President and Chief Executive Officer

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.

Neither the TSX nor the TSX Venture Exchange has reviewed, and neither the TSX nor the TSX Venture Exchange accept responsibility for the adequacy or accuracy of, the content of this Press Release, which has been prepared by management.

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