Excellon Resources Inc.

Excellon Resources Inc.

May 18, 2006 16:43 ET

Excellon Resources Inc.: Guadalupe And Guadalupe South Mantos Continue To Expand

TORONTO, ONTARIO--(CCNMatthews - May 18, 2006) - Excellon Resources Inc. (TSX VENTURE:EXN) is pleased to report that the Guadalupe and Guadalupe South Mantos continue to expand in size. To date, 24 contiguous sulphide intercepts, ranging from 0.4 to 7.6 metres and averaging 2.5 metres in estimated true thickness, have been drilled in the Guadalupe South Manto (see Table). Five additional holes on the inferred edges of this manto have intersected 0.25 to 0.4 metres of mineralization. Drilling has been carried out on a 15 by 15 metre grid and the Guadalupe South Manto now extends over a minimum continuous area of 75 by 165 metres. It lies at approximately 125 metres vertical depth and remains open in several directions. Assays for 28 of these holes are pending, but the mineralization is visually similar to the massive sulphides and sulphide breccia intersected in the discovery hole (LP-153) for the Guadalupe South Manto, which averaged 1,304 g/T (42 oz/T) silver, 13.8% lead, and 8.3% zinc over 3.9 metres (see press release of May 2, 2006).

Excellon is also pleased to report that three additional holes on the northeast flank of the Guadalupe Manto (see press release of May 2, 2006) have intersected sulphide mineralization. These range from 1.0 to 7.5 metres in thickness and extend the mineralization at least 30 metres to the northeast. The new intercepts are massive sulphides, as opposed to the sulphide-bearing breccias intersected in the nearest holes LP-135 and LP-136 (see press release of May 2, 2006). Assays are pending.

"We are very pleased with our drilling success in the Guadalupe South Manto. It is rapidly growing as large as the Guadalupe Manto, located approximately 85 metres to the northwest, and has the same style of mineralization," said Richard Brissenden, Excellon's chairman. "The results from the northeast corner of the Guadalupe Manto are perhaps even more exciting from an exploration standpoint, as they show that massive sulphides can reoccur after weakening into what we thought were marginal breccias. This not only leads to more drilling in this area, but also suggests we need to drill beyond some of the breccias we previously considered as being the limits of some mantos. One immediate result of this is that we may be able to link some of our recent discoveries together in the same way we found connections between Mantos 4 and 5 through our ongoing test-mining program."

Excellon currently has three surface drill rigs working at the Platosa property. Two drills are devoted to step-out holes on the Guadalupe and Guadalupe South Mantos and tracing the NE-1 mineralization. The third drill will begin drilling district-scale targets on the Joint Venture property held with Apex Silver Mines Limited and on the Saltierra Property optioned from Exploraciones del Altiplano, S.A. de C.V. in the near future. In the interim, these district-scale targets are being refined with a combined biogeochemical and soil-sampling program from which results are currently beginning to be received.

The Platosa exploration program is designed and supervised by Dr. Peter Megaw, Excellon's consulting geologist and exploration manager of its Mexican subsidiary. Assaying is being performed by SGS Laboratories of Don Mills, Ontario with check assaying by ALS Chemex of Vancouver, British Columbia and/or BSI Inspectorate of Reno, Nevada. Roscoe Postle Associates Inc. ("RPA"), of Toronto, Ontario, independent geological and mining consultants, executed the engineering design and is the ongoing technical advisor for the test-mining program. RPA is also updating the existing NI 43-101 resource report, which is expected to be completed by mid June.

Qualified Person and Quality Assurance and Control

Dr. Peter Megaw, PhD, CPG, has acted as the Qualified Person, as defined in NI 43-101, for this disclosure and supervised the preparation of the technical information on which this release is based. Dr. Megaw has a PhD in geology and more than 20 years of relevant experience focused on silver and gold mineralization, and exploration and drilling 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 and his company are shareholders.

To view the Guadalupe South Manto Intercepts Table, please click on the link below: http://www.ccnmatthews.com/docs/excellon-table.pdf

To view the Known Mantos Map, please click on the link below: http://www.ccnmatthews.com/docs/KnownMantos-map.pdf

On behalf of


Richard W. Brissenden, A. Douglas MacKenzie,
Chairman and Chief Executive Officer Vice-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 future anticipated exploration program results, 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 ability 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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