Excellon Resources Inc.

Excellon Resources Inc.

April 21, 2008 16:31 ET

Excellon's Agreement With Ejido La Sierrita Formally Approved

TORONTO, ONTARIO--(Marketwire - April 21, 2008) - Excellon Resources Inc. (TSX:EXN) announces that its agreement with the Ejido La Sierrita was ratified yesterday, Sunday, April 20, 2008. The ratification is the final step of the formal approval process of the Ejido La Sierrita.

This long term legal, binding and enforceable agreement with the ejido is for the use of certain lands to conduct its mining activities. Under the agreement, Excellon has, amongst other things, agreed to lease from the ejido 1100 hectares of surface rights for up to 30 years for MX $5,000 pesos per hectare per year, as long as the lease agreement continues in existence. Further, Excellon has agreed to fund a community development fund, with an initial payment of MX $3,000,000 pesos and MX $500,000 pesos per year thereafter for up to 30 years, again, as long as the lease agreement continues in existence. Finally, Excellon will issue 600,000 common shares to the Ejido La Sierrita, which will have a hold period of four months. As part of this agreement, Excellon will have full ownership of the 27 hectares on which it currently conducts its mining activities. Excellon's board of directors has approved this agreement and the TSX has accepted the notice of filing related to the agreement.

"Excellon is proud of this landmark agreement with the Edjio La Sierrita," said Peter A. Crossgrove, Excellon's chairman. "It honours our commitment to the community and protects shareholder value. We look forward to growing together."

Excellon's commitment to Corporate Social Responsibility

The Company has been an integral part of the local community from the beginning of its operations at Platosa. It has created employment opportunities and supported and initiated a large number of projects at Ejido La Sierrita and in the nearby town of Bermejillo. Many of the Company's corporate activities have focused on improving the lives of children located in the communities close to Platosa. The Company has granted scholarships, modernized a nursery school, expanded the yard of a primary school, and donated sports equipment to a high school. It participates in community festivals, financially supports local events, and provides uniforms for sports teams. It is also a member of the Mining Task Force of the Canadian Chamber of Commerce in Mexico and a member of Canadian Business for Social Responsibility. During fiscal 2008, Excellon plans to develop a formal corporate social responsibility policy and to ensure that its corporate social responsibility practices are in line with the industry's best corporate social responsibility practices.

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 $11million exploration program and expanding its operating capacity with the building of 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


Peter A. Crossgrove, Chairman

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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