Excellon Resources Inc.
TSX : EXN

Excellon Resources Inc.

November 17, 2010 11:24 ET

Excellon Announces Additional High-Grade Holes in the Pierna Manto

1,489 g/t (43 oz/T) Ag, 10.65% Pb, 21.63% Zn over 6.10 m in hole EX10-LP875

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2010) - Excellon Resources Inc. (TSX:EXN) is pleased to announce assay results for two additional holes from what company geologists believe may be a new, high-grade manto discovered between the Rodilla and NE-1 mantos. Tentatively named the Pierna Manto, this massive sulphide zone is related to a northwest-southeast trending structure and is open to the northwest. Hole LP875 intersected 6.10 metres (m) of massive sulphides grading 1,489g/t (43 oz/T) Ag, 10.65% Pb, 21.63% Zn. Hole LP876 intersected 7.60 m grading 612 g/t (18 oz/T) Ag, 8.07% Pb, 14.47% Zn. Three holes in the same zone and with similar high grades were disclosed in a press release dated November 4, 2010. 

These results again provide evidence of the discovery potential for important additional distal carbonate replacement deposit (CRD) resources in and close the immediate Platosa Mine area.

"We continue to be very encouraged by the discovery of such significant massive sulphides at Platosa. A new discovery such as this can have an important impact on the manner in which we develop the Platosa Mine and opens up new areas for detailed exploration," said John Sullivan, Excellon's Vice-President of Exploration. 

Assay intersection details for holes LP875 and 876 are shown in the table below and on the accompanying drill hole location map. All intervals are estimated true thicknesses. In addition to these two holes there has been one other hole drilled at Platosa since the exploration press release dated November 4, 2010. 

Excellon's drill core samples are prepared and assayed by SGS Minerals Services (SGS) in Durango, Mexico. The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QAQC program, supervised by an independent Qualified Person.

Qualified Persons

The Company's exploration programs are supervised by John Sullivan, Excellon's Vice-President of exploration, in consultation with Dr. Peter Megaw of IMDEX Inc.

Mr. John Sullivan, BSc., PGeo., has acted as the Qualified Person, as defined in National Instrument 43-101, for this disclosure. 

Dr. Megaw has a PhD in geology and more than 30 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. Prior to joining Excellon in 2007 he was a senior geologist at a Toronto-based international geological and mining engineering consulting firm where he evaluated properties and prepared NI 43-101 reports on gold and base metal projects in Canada and internationally. In addition he has held senior positions with two large Canadian mining companies where he directed major exploration programs, managed field offices, and evaluated projects in Canada, Europe, Africa and Latin America. Mr. Sullivan is not independent of Excellon as he is an officer and holds common share purchase options.

Table: Platosa Sulphide Intersections and Assay Results 

Location   DDH
No.
  Interval
from
(metres)
  Interval
to
(metres)
  Interval
width
(metres)
Estimated
true
thickness
  Silver
(g/t)
  Silver
(oz/T)
  Lead
(%)
  Zinc
(%)
Pierna Manto   LP875   170.38   176.48   6.10   1,489   43.4   10.65   21.63
    LP876   191.62   199.22   7.60   612   17.9   8.07   14.47

To view, "Map 1: Location Map – Platosa Property," please visit the following link: http://media3.marketwire.com/docs/EXNmap1nov.pdf

To view, "Map 2: Platosa Mantos and Recent Drill Hole Locations," please visit the following link: http://media3.marketwire.com/docs/EXNmap2nov.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 Mineral Resource on its large Platosa Property, strategically located in the middle of the Mexican silver belt. Excellon's focus is on expanding its operating capacity and increasing its Mineral Resources at Platosa where an exploration program focused on diamond drilling and advanced geophysical techniques is ongoing. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system. The equally large Miguel Auza property hosts an Indicated and Inferred Mineral Resource and was the site of considerable historic mining for silver, (gold), lead and zinc. The exploration potential of Miguel Auza remains to be fully evaluated and an initial exploration program, the results of which remain to be fully evaluated, has recently been completed.

On behalf of EXCELLON RESOURCES INC.

Peter Crossgrove, Chairman & 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 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, 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 January 15, 2010 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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