Excellon Resources Inc.

Excellon Resources Inc.

October 14, 2009 12:58 ET

Excellon Announces Further Expansion of the High-Grade 623 Manto

1,195 g/t (35 OPT) Ag, 14.8% Pb, 15.0% Zn over 7.05 m in Hole EX09-LP654

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2009) - Excellon Resources Inc. (TSX:EXN) is pleased to announce assay results for six additional holes at its Platosa Property. Three of these holes were designed to locate massive sulphide extensions to the 623 Manto discovered in July of this year. The results for Holes LP653 and LP654 provide further evidence of the high-grade nature of the manto and there are indications that it may link with the Guadalupe Manto.

Hole EX09-LP654 intersected 1,195 g/t Ag, 14.8% Pb, 15.0% Zn over 7.05 metres (m), while hole LP653 located 25 m to the north cut 1,020 g/t Ag, 7.6% Pb, 1.6% Zn over 0.45 m. Such variations in intersection width are not unusual in deposits of this sort and have been experienced elsewhere on the property. Assays for LP653, LP654 and LP645, also in the 623 Manto, are shown in the table below

Drilling to date has defined the 623 Manto as an elongate irregularly-shaped NNE-SSW trending 100 m by 30 m body that remains open, particularly to the south.

"This additional high-grade massive sulphide mineralization in the 623 Manto is very encouraging and we are optimistic that it will add to our Mineral Resource estimate. We expect that a new independently-prepared 43-101 estimate for Platosa will be ready before year-end," said John Sullivan, Excellon's Vice-President Exploration.

In light of these encouraging results and continued strong cash flow from Platosa, a third drill has been mobilized and will resume the sub-program designed to discover the high-tonnage proximal source of the manto deposits. Drilling will begin in the la Zorra area on the southern portion of the Saltillera-la Zorra corridor located approximately five kilometres west of the mantos.

The second drill rig continues to be active 50 to 100 m northeast of the 623 Manto, in the NE-1 extension area. Holes continue to intersect sulphide-rich breccia with limited amounts of semi-massive to massive sulphides. Hole LP649 intersected 1,130 g/t Ag, 16.2% Pb, 1.9% Zn over 0.55 m included within an intersection of 134 g/t Ag, 2.2% Pb, 0.50% Zn over 5.85 m. Drilling continues in this area.

Assays for the six holes reported here are shown in the table below and on the accompanying map. All intervals are estimated true thicknesses. In addition to these six holes there have been 2 holes, which did not intersect significant sulphides drilled since the last exploration press release dated October 6, 2009.

The Platosa exploration program and initial exploration underway at Excellon's Miguel Auza property are supervised by John Sullivan, Excellon's Vice-President of exploration, in consultation with Dr. Peter Megaw of IMDEX Inc. Drill core samples are prepared and assayed by SGS Minerals Services (SGS) in Durango, Mexico. When required, sample pulps are sent to SGS in Canada and further assaying is carried out at its ISO/IEC 17025 accredited laboratory in Toronto, Ontario.

Qualified Persons

Mr. John Sullivan, BSc., PGeo., has acted as the Qualified Person, as defined in National Instrument 43-101, for this disclosure and has supervised the preparation of the technical information on which this press release is based.

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 National Instrument 43-101 reports on gold and base metal projects in Canada and internationally. Mr. Sullivan is not independent of Excellon as he is an officer and holds common share purchase options.

Table: Sulphide Intersections and Assay Results

LocationDDH No.Interval
width (metres)
623 MantoLP645180.49181.170.681053.11.320.02
NE-1 Manto ExtLP647332.25335.953.701333.91.130.22

To view Map 1: Location Map, please visit the following link:


To view Map 2: Mantos and Recent Drill Hole Locations, please visit the following link:


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 Indicated Mineral Resource on its large Platosa Property, strategically located in the middle of the Mexican silver belt. In calendar 2009, Excellon's focus is on expanding its operating capacity and increasing its Mineral Resources at Platosa through an aggressive exploration program. 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, was the site of considerable historic mining for silver, (gold), lead and zinc and was exploited by Silver Eagle during 2008. The exploration potential of Miguel Auza remains to be evaluated and is the object of an exploration program, which began in September.

On behalf of


"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, the proposed construction of a mill, 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 April 14, 2008 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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