Excellon Resources Inc.

Excellon Resources Inc.

February 21, 2008 11:49 ET

Excellon Discovers 4.7 Metres of New Massive Sulphides in NE-1 Manto and Adds to Rodilla

TORONTO, ONTARIO--(Marketwire - Feb. 21, 2008) - Excellon Resources Inc. (TSX:EXN) has intersected important new massive sulphide manto mineralization in holes LP444 and LP447 (see table and map below) in the NE-1 area, 100 metres (m) east of the Rodilla Manto. LP447 intersected an estimated true thickness of 4.72 m of sphalerite and galena-rich massive sulphides. LP444, drilled 40 m to the north of LP447, cut 0.2 m of similar massive sulphides. Assays for both intersections are pending. This is the first follow up drilling to discovery Hole LP173, drilled 20 m to the west-northwest of LP447 in 2006, which intersected an estimated true thickness of 3.17 m of massive to semi-massive sulphides grading 580 g/t (16.9 oz/T) silver, 8.3% lead and 6.2% zinc. The NE-1 Manto remains open in several directions and drilling continues in this area.

The Company also announces assays for six holes in the Rodilla Manto (see table below). The intersections include massive to disseminated and breccia sulphides and range in estimated true thickness from 0.91 to 15.25 m. They carry from 96 to 2,130 g/t (2.8 to 62.1 oz/T) silver; 0.2 to 10.1% lead; and 0.04 to 13.5% zinc. These values are comparable to those previously reported from Rodilla (see press releases of December 13, November 13, and October 16, 2007) including the discovery hole (LP326), which cut an estimated true thickness of 2.0 m of massive sulphides grading 1,143 g/t (33.3 oz/T) silver with 8.3% lead and 10.7% zinc.

In addition, three new massive sulphide and sulphide breccia intercepts, with estimated true thicknesses of 4.17 m (LP442), 7.52 m (LP446) and 2.55 m (LP448), have been made in ongoing drilling of Rodilla (see table and map below). The massive sulphide intercepts in these three vertical holes consist largely of massive sphalerite with subordinate galena and 10 to 20% barite gangue. Assays are pending. Hole LP446 has the potential to expand Rodilla 40 m to the east-southeast, although an additional hole is required to confirm this. Of significance to eventual development and test-mining plans, Hole LP442, drilled in an approximate 30 m gap between Rodilla and the Guadalupe Manto, demonstrates that these two mantos are connected. Five additional holes (LP435, LP437, LP438, LP441, and LP445 - shown on the map) drilled in the immediate Rodilla Manto area encountered the favourable fragmental limestone unit, but did not intersect significant sulphides. Rodilla remains open in several directions, and drilling continues in this area.

Scott Wilson Roscoe Postle Assoc. Inc. is nearing completion of the updated Mineral Resource estimate and the Company expects to receive this near the beginning of March.

"We are pleased with the continued growth of the Rodilla Manto and particularly encouraged by the new and exciting massive sulphide intercepts in the NE-1 area," said Richard W. Brissenden, Excellon's CEO and president. "These developments validate our ongoing strategy of aggressive follow-up drilling of all sulphide intercepts while continuing to test other areas of our large property where geological, geochemical and geophysical data suggest that additional CRD mineralization remains to be discovered."

To view the Table: Assay Results, Sulphide Intersections and Assays Pending, please visit the following link: http://media3.marketwire.com/docs/ASSAYRESULTS.pdf.

To view Map 1: Location Map and Map 2: Mantos and Recent Drill Hole Locations, please visit the following link: http://media3.marketwire.com/docs/MAPS1AND2.pdf.

The Platosa exploration program is supervised by John R. Sullivan, Excellon's vice-president of exploration. Drill core samples are prepared by SGS Laboratories "SGS" in Durango, Mexico, with silver and gold assayed in Durango. Sample pulps are sent to SGS Canada Inc. and further assaying is carried out at its ISO/IEC 17025 accredited laboratory in Toronto, Ontario.

Qualified Persons

Dr. Peter Megaw, PhD, CPG, and Mr. John Sullivan, BSc., PGeo., have acted as the Qualified Persons, as defined in National Instrument 43-101, for this disclosure and have supervised the preparation of the technical information on which this press release is based.

Dr. Megaw has a PhD in geology and more than 25 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. Most recently a senior geologist at a Toronto-based international geological and mining engineering consulting firm, he has 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.

About Excellon

Excellon, a self-sustaining mineral resource company operating in Durango State, Mexico, is committed to building value through production, expansion and discovery. The Company is producing silver, lead and zinc from high grade manto deposits on its Platosa Property, strategically located in the middle of the Mexican silver belt. In fiscal 2008, Excellon's focus is on increasing its Mineral Resources through an aggressive $11-million exploration program, expanding its operation, and studying the feasibility of building a mill at site. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system, the tracking of which Excellon believes will lead to the discovery of a world class deposit.

On behalf of


Richard W. Brissenden, President and 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 future anticipated exploration program timing, content, cost and results, the discovery and delineation of mineral deposits/resources/reserves at the Company's Platosa property, 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, 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.

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 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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