Excellon Resources Inc.

Excellon Resources Inc.

November 04, 2009 11:49 ET

Excellon Provides Q1 Operational Update

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2009) - Excellon Resources Inc. (TSX:EXN) is pleased to announce the following unaudited key operational performance measures from the Platosa mine and Miguel Auza mill for the three-month period ended October 31, 2009.

Tonnes ore milled 16,520
Tonnes per day 180
Head grades
Silver (g/t) 876
Lead (%) 7.1
Zinc (%) 7.1
Payable metal sold
Silver (oz) 393,940
Lead (lb) 2,102,749
Zinc (lb) 1,855,730
Realized prices
Silver (US$/oz) 16.90
Lead (US$/lb) 1.01
Zinc (US$/lb) 0.92

"We remain pleased with the stable production results from Platosa and the operational performance of the Miguel Auza mill. These continue to provide good operating cash flow to fund our exploration program." stated Christopher Hopkins, Excellon's Chief Financial Officer. "We have experienced lower milling volumes and head grades as compared to our 4th Quarter ended July 31, 2009 due to the planned mining of lower grade ore as we develop new mining areas and scheduled maintenance at the mill. Our metal sold in the quarter was also impacted by severe weather that limited shipments at the end of October."

The Company ended the quarter with $8.2 million in cash bank balances.

Excellon is providing these production numbers from its Mexican operation in order to provide stakeholders with a more timely review of recent operational performance. The numbers are preliminary and subject to adjustment.

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 Measured and Indicated Mineral Resource, was the site of considerable historic mining for silver, (gold), lead and zinc and more recently was exploited by Silver Eagle during 2008. An exploration program began at Miguel Auza in early September.

On behalf of


Peter Crossgrove, 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 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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