Excellon Resources Inc.

Excellon Resources Inc.

March 17, 2005 14:10 ET

Excellon Announces Discovery of New Zone of Sulphides and Appointment of New Director


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: EXCELLON RESOURCES INC.

TSX VENTURE SYMBOL: EXN

MARCH 17, 2005 - 14:10 ET

Excellon Announces Discovery of New Zone of Sulphides
and Appointment of New Director

TORONTO, ONTARIO--(CCNMatthews - March 17, 2005) - Excellon Resources
Inc. (TSX VENTURE:EXN) is pleased to announce the discovery of a new
zone of sulphides lying 450 metres (m) northeast from the closest known
mineralization on its 14,692 hectare (35,000 acre) Platosa/Saltierra
Property in Durango, Mexico. Excellon is also pleased to report
continuing extension of the N-1 Manto discovered in December 2004 and to
provide a progress report on development of the ramp on its 100% owned
Platosa Core area. Finally, Excellon is pleased to announce that Mr.
Andre Yves Fortier joined the Company's board of directors as of March
14, 2005.

Excellon extends ramp to 611 m from portal

As of Wednesday, March 16, the 4 by 4.5 metre Platosa Ramp, which
commenced on September 1, 2004, had advanced 611 m from the portal.
Based on an updated mine plan, the ramp is expected to reach
mineralization in April 2005 if the current rate of progress continues
(see Map). Underground exploration drilling is expected to begin as soon
as a ventilation raise, presently under construction, is completed.

Excellon discovers new sulphide zone

Excellon's aggressive surface drilling program (see Press Release of
January 20, 2005) has found a new zone of sulphide mineralization lying
450 m to the northeast of Manto 6, the closest mineralization known on
the property (Table 1, Map below). This new zone, named the NE-1, lies
along the projection of the structural trend that contains the principal
sulphide mantos targeted for production. The targets were drilled on
coincident Natural Source Audio Magneto Tellurics ("NSAMT") geophysical
and biogeochemical anomalies. All three holes drilled in this area cut
sulphides. Hole LP-114 cut 0.77 m of sphalerite-rich mineralization,
averaging 27% zinc, at 219 m depth. Hole LP-115 was drilled 10 m to the
northeast of LP-114 and cut 2 m of galena and fluorite bearing dolomite
breccia, including .77 m grading 88 g/T silver (2.8 oz/T) and 2.8% lead
at 224 m depth. Hole LP-119 was drilled 10 m to the north of LP-114 and
cut 20 cm galena and fluorite bearing dolomite breccia at 216 m depth.
Results for LP-114 and LP-115 are presented below; assays for LP-119 are
pending. The intercepts indicate a pattern of deepening and thickening
mineralization and additional drilling is being designed to follow this
trend.

Excellon continues to extend N-1 Manto

Drilling also continues to add to the new N-1 Manto that lies 85 to 125+
m northwest of the known resources (see Press Release of January 20,
2005) (Table 1, Map below). Drillholes LP-116 and LP-117 were drilled 10
and 20 m north, respectively, from LP-106 on the northern flank of the
N-1 Manto. Both holes hit galena and sphalerite-rich massive and
brecciated sulphides with grades and thickness comparable to those
reported previously from this manto. Hole LP-118 was drilled 10 m
southwest of LP-107 and cut trace sulphides. Notably, the LP-117
intercept also contains nearly 1 g/T of gold. This brings to 10 the
total number of contiguous sulphide bearing holes in the N-1, the volume
and grade of which is being calculated by Roscoe Postle Associates Inc.,
independent geological and mining consultants ("RPA"). Evaluation of how
to incorporate this emerging mineral resource into the mine plan
contained in the RPA report of December 10, 2003 (report available at
www.sedar.com) is underway.

Both the NE-1 and the N-1 Mantos remain open in several directions and
are slated for additional drilling. Further drilling of the N-1 will
probably largely be done from underground once access to this area is
achieved from the Platosa Ramp.

LP-113 was drilled 25 m from the northeast end of Manto 6 on an Induced
Polarization ("IP") geophysical anomaly generated by the Mexican
Geological Survey. It cut only trace sulphides and further IP work is
not contemplated.



TABLE 1: SELECTED DRILLING RESULTS FROM LP-114 TO LP-117

HOLE Interval Interval Interval Rec. Ag Ag Pb Zn
NUM. From To m % ppm oz/T % %

EX05LP114 218.81 219.33 0.52 76 19 0.6 1.0 27.2
EX05LP115 223.60 224.37 0.77 85 88 2.8 2.8 0.08

EX05LP116 98.20 99.20 1 100 1,120 36 8.8 15
EX05LP117 99.08 99.68 0.6 75 506 16 6.1 6.2

Previously Calculated Mineral Resource(ii) Grades
MASSIVE SULPHIDE
N-1 Manto BODY(i) 2.13 940 30.2 11.0 8.1
4A Manto(ii) MASSIVE SULPHIDE BODY(iii) 766 22 5.7 7.8
5A Manto(ii) MASSIVE SULPHIDE BODY(iii) 3,912 114 22.3 6.5
6A Manto(ii) MASSIVE SULPHIDE BODY(iii) 1,664 49 10.4 10.4


(i) This is a thickness-weighted average of the eight holes included in
the January 20, 2005 press release that will be refined through RPA's
more detailed modeling.

(ii) Readers are cautioned that mineral resources that are not
classified as mineral reserves do not have demonstrated economic
viability.

(iii) Weighted averages from Indicated Resource Estimate calculated by
RPA (September 2002).

Assaying and check-assaying is being performed by ALS-Chemex
Laboratories of Vancouver and BSI Inspectorate of Reno, Nevada. Check
assays for these holes are pending, but results are historically
consistent between the two laboratories. Drilling has been done by Major
Drilling of Mexico. The drillhole map below is also available in colour
on the company website at: www.excellonresources.com, or by request.

The ongoing exploration program is designed and supervised by Mr. A. D.
MacKenzie, P. Eng., and Dr. Peter Megaw, respectively Excellon's
President, and its Consulting Geologist and Exploration Manager of its
Mexican subsidiary.

Other exploration

Other recent exploration work includes initiation of 1:5,000 geologic
mapping of the entire Sierra Bermejillo and completion of another 15
line-km of NSAMT geophysics. These surveys, focused on covered areas
flanking the Platosa Mine area and more remote target areas throughout
the range, now total nearly 40 km. A number of geophysical anomalies
that coincide with the projections of surface mappable structures with
associated mineralization and alteration have been defined and drilling
targets, lying from 1 to 5 km distant from the Platosa Deposit, are
being developed for testing in the near future.

Qualified Person and Quality Assurance and Control

Dr. Peter Megaw, Ph.D., C.P.G., has acted as the Qualified Person as
defined in National Instrument 43-101, for this disclosure and
supervised the preparation of the technical information on which this
release is based. Dr. Megaw has a Ph.D. 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 is a shareholder and his company
receives a Finder's Fee with respect to the Platosa/Saltierra property.

Andre Fortier joins board of directors

Mr. Andre Yves Fortier has been appointed as a director of the Company,
effective March 16, 2005. A member of the Quebec Bar Association, Mr
Fortier is currently the President and Chief Executive Officer of
Campbell Resources Inc., and is a director of several other public
mining companies. Mr. Fortier was previously Senior First Vice President
of Noranda Inc. and the President and Chief Executive Officer of Kerr
Addison Mines Limited. He is an Honorary Member and former Chairman of
the Fondation de l'Universite Laval and a past Chairman of the Board of
the Conseil du Patronat du Quebec. The Company welcomes Mr. Fortier to
the board and looks forward to benefiting from his many years of
business and public company experience.

In conjunction with the appointment of Mr. Fortier, Mr. Robert
Brissenden has resigned as a director and has been appointed as
Vice-President and Chief Financial Officer of the Company, replacing Mr.
Richard Brissenden as CFO, who remains as a director and Chairman.

The Company has also granted incentive stock options to Mr. Fortier to
purchase up to 500,000 common shares at a price of $0.20 per share for a
period of 5 years expiring on March 16, 2010.

On behalf of

EXCELLON RESOURCES INC.

A. Douglas MacKenzie,

President

Richard W. Brissenden,

Chairman

NOTE: A map is available on CCNMatthews' website at:
http://www2.ccnmatthews.com/database/fax/2000/exn0317.doc

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Excellon Resources Inc.
    Richard W. Brissenden
    Chairman
    (416) 364-1130
    www.excellonresources.com
    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.