Excellon Resources Inc.

Excellon Resources Inc.

November 23, 2006 10:55 ET

Excellon Appoints New Director and Controller

TORONTO, ONTARIO--(CCNMatthews - Nov. 23, 2006) - Excellon Resources Inc. (TSX VENTURE:EXN) is pleased to announce that it has appointed a new director and added a financial controller to its management team.

Mr. Alan R. McFarland of New York, New York, is Excellon's newest director, effective November 23, 2006. Mr. McFarland is the Managing Member of McFarland Dewey & Co., LLC, investment bankers, and previously served as a director of Placer Dome, Inc., and Masonite International Corporation. His investment banking experience covers a range of activities, including advisory work on financial strategies, mergers, acquisitions, and divestitures. He was a General Partner of Lazard Freres & Co. from 1978 to 1989. Mr. McFarland serves extensively in the civic sector as well. He is a Trustee of the Children's Aid Society of New York City and the National Constitution Center in Philadelphia. He was a founding director of the World Resource Institute in Washington, D.C., and served as a Chapter Member and Investment Committee Chairman of the Washington National Cathedral.

Excellon is also pleased to announce the appointment of Mr. Jeffrey A. Hillis, CA, as controller of the Company, effective November 7, 2006. Mr. Hillis will be responsible for the Company's accounting policies and procedures, the maintenance of fiscal records, and the preparation of fiscal reports. Mr. Hillis is a chartered accountant and graduate of Queen's University, where he obtained his Bachelor of Commerce. Mr. Hillis joins Excellon from Xstrata Zinc Canada (formerly Falconbridge Limited), where he was controller of the Zinc Business Unit. Prior to working for Xstrata, Mr. Hillis worked for Ernst and Young LLP, Chartered Accountants.

"Excellon is delighted to welcome Messrs. McFarland and Hillis to the Excellon team," said Richard W. Brissenden, Excellon's chairman and chief executive officer. "Mr. McFarland brings a wealth of experience to the Company, and strengthens the independence of our board. We are also very fortunate to have Mr. Hillis join the management team. He will be a tremendous asset as Excellon continues to develop its operations."

The Company further announces that it has, subject to regulatory and shareholder approval, amended its 2004 Incentive Stock Option Plan to convert it from a fixed number plan, which reserved up to 15,000,000 common shares for the grant of options, to a "rolling 10%" plan, whereby the number of common shares available for the grant of incentive stock options is set at 10% of the number of issued common shares from time to time. Under the 2004 Plan, as amended, the Company now has 1,573,865 common shares available for the grant of incentive stock options. All incentive stock options granted under the amended 2004 Plan are subject to shareholder approval, which the Company will request at its 2006 annual general meeting scheduled for 4 p.m. on December 18, 2006 in Toronto, and acceptance for filing by the TSX Venture Exchange. In connection with the appointment of Messrs. McFarland and Hillis, the Company has granted to Mr. McFarland an incentive stock option to purchase up to 500,000 common shares, and to Mr. Hillis an incentive stock option to purchase up to 250,000 common shares, under the amended 2004 Plan. These options are both exercisable at a price of $0.97 for a period of five years expiring on November 23, 2011.

About Excellon

Excellon Resources Inc., an emerging silver producer, is using the proceeds from its test-mining operation to explore its 14,692-hectare Platosa/Saltierra Properties in north eastern Durango State, Mexico. Taking advantage of a unique convergence of infrastructure, high grade ore and a low production cost per ounce of silver, the Company has built a significant treasury and will remain self-financed well into the future as it tracks the carbonate replacement deposit believed to be at Platosa.

On behalf of


Richard W. Brissenden, Chairman and Chief Executive Officer

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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