Excellon Resources Inc.

Excellon Resources Inc.

July 18, 2011 09:03 ET

Excellon Announces Appointments of New CEO & CFO

TORONTO, ONTARIO--(Marketwire - July 18, 2011) - The Board of Directors of Excellon Resources Inc. (TSX:EXN) is pleased to announce the appointment of a new President and Chief Executive Officer Jeremy Wyeth as well as the appointment of a new Chief Financial Officer Steve Poad.

Appointment of New President and Chief Executive Officer

Mr. Wyeth holds a Mining degree from the University of the Witwatersrand in Johannesburg. He has held numerous technical, operational, managerial and project development positions in the mining industry over the past 25 years. His international experience covers Africa, Canada, Russia and Brazil. Between 2002 and 2008 he was the Vice President responsible for the development of Ontario's first diamond mine in Northern Ontario. In addition he has held various positions in Canada on Industry councils and boards, including the position of Chairman of the Ontario Mining Association.

Mr. Crossgrove will stay on as Executive Chairman.

Appointment of New Chief Financial Officer

Mr. Poad holds an Honours Bachelor of Commerce degree from McMaster University and became a chartered accountant in 1976. He has over 30 years of mining industry experience with a variety of companies including the Falconbridge Group, which is now part of Xstrata. His international experience includes involvement with operations in Africa, Europe, Asia and South America. Mr. Poad is the former CFO of Colossus Minerals Inc., which is developing the high-grade Serra Pelada gold project in Brazil, and High River Gold Mines Ltd., which operates gold mines in both West Africa and Siberia in Russia.

Excellon would also like to thank Mr. Robert Whittall for his diligent and valuable service as CFO and we wish him every success going forward. Mr. Whittall is retiring for personal reasons.

The Board of Directors is also pleased to announce that it has appointed Morgan Knowles as Vice President, Investor Relations. Morgan has been Director, Investor relations and Assistant corporate secretary of Excellon since 2008.

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, 100% owned 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. All of these activates are fully funded through existing cash flow. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system.


The Board of Directors & Peter Crossgrove, Executive 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, 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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