Excellon Resources Inc.

Excellon Resources Inc.

August 31, 2007 14:27 ET

Excellon Resources Inc.: Maturity Date of Silver Debentures Extended to October 30, 2007

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2007) - Excellon Resources Inc. (TSX VENTURE:EXN) announces that, as approved by a extraordinary resolution of the holders of its USD 9,900,000 principal sum silver debentures passed on August 30, 2007, the Company and Computershare Trust Company of Canada have entered into a supplemental trust indenture date as of August 30, 2007, pursuant to which the maturity date of the silver-backed debentures has been extended from August 31, 2007 to October 30, 2007. The extension will enable Minera Excellon de Mexico, S.A. de C.V. ("Minera Excellon"), the Company's Mexican subsidiary, to complete its proposed assumption of the Company's obligations under the silver-backed debenture indenture (the "Indenture") in accordance with the terms and conditions of the Indenture. The Company had intended that its obligations would be assumed by Minera Excellon when the silver-backed debentures were created, but Minera Excellon is only now in a position to be able to assume the obligations. The Indenture, as supplemented, provides for an early redemption right and a purchase for cancellation right and, after the proposed assumption, Minera Excellon may use one of these rights to satisfy its Indenture obligations prior to October 30, 2007.

About Excellon

Excellon Resources Inc. (TSX VENTURE:EXN), 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 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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