Excellon Resources Inc.
TSX : EXN

Excellon Resources Inc.

August 06, 2009 16:01 ET

Excellon Encounters New High-Grade Sulphides at Platosa

3.20 m grading 1,121 g/t (32.7 oz/T) silver, 11.58% lead, 9.20% zinc

TORONTO, ONTARIO--(Marketwire - Aug. 6, 2009) - Excellon Resources Inc. (TSX:EXN) is pleased to announce assay results for hole EX09-LP623, the fifth hole drilled in the 2009 drilling campaign at its Platosa Property. This two-drill program began in mid-July and is initially focused on following up on the massive sulphides intersected in the NE-1 Manto in late 2008 and testing open areas in the vicinity of NE-1.

Hole LP623 intersected 1,121 g/t (32.7 oz/T) Ag, 11.58% Pb, 9.20% Zn over an estimated true width of 3.20 metres (m) from 238.25 m to 241.45 m. The hole is located approximately 200 m south of the NE-1 Manto and is within an irregularly-shaped open area at least 75-100 m in diameter. Another hole 20 m south of LP623 is underway.

"We are pleased that our drilling has outlined important new manto sulphide mineralization so early in the 2009 drilling program and look forward to additional success in the area," said John Sullivan, Excellon's Vice-President Exploration.

The other four holes completed to date have not encountered significant sulphides, however, all have intersected the favourable fragmental limestone unit as expected. All five completed 2009 holes are shown on the attached Map 2.

In other news, The Platosa mine continues to produce according to plan and the Miguel Auza mill has been processing all of the ore produced. For the three months ended July 31, 2009 the Company processed 18,493 tonnes of Platosa ore at Miguel Auza. Head grades were 1,110 g/t silver; 9.1% lead; 9.5% zinc and resulted in the production of approximately 2,030 dry metric tonnes ("DMT") of lead-silver concentrate and 2,450 DMT of zinc-silver concentrate.

As at year end, the Company holds in excess of $6 million in cash.

The Platosa exploration program is supervised by John R. Sullivan, Excellon's Vice-President of exploration. 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. 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.

NOTE: 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/exn0806.pdf

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 a Probable Mineral Reserve, was the site of considerable historic mining for silver, (gold), lead and zinc and more recently was exploited by Silver Eagle during 2008. The exploration potential of Miguel Auza remains to be fully evaluated.

On behalf of

EXCELLON RESOURCES INC.

Andre Douchane, President & 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.

Contact Information