Excellon Resources Inc.
TSX VENTURE : EXN

Excellon Resources Inc.

September 13, 2007 09:01 ET

Minera Excellon Pays for and Cancels All Outstanding Silver Debentures

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2007) - Excellon Resources Inc. (TSX VENTURE:EXN) ("Excellon" or the "Company") is pleased to report that, effective September 10, 2007, its wholly owned subsidiary, Minera Excellon de Mexico, S.A. de C.V. ("Minera Excellon") has, as permitted by the silver debenture trust indenture, paid for and cancelled all of the outstanding USD 9,900,000 principal sum silver debentures originally issued on June 4, 2004 and maturing on October 30, 2007. The payment was the equivalent of 1,800,000 ounces of silver, which was settled through the delivery to the debentureholders of the silver held by the custodian under the debenture trust indenture, and cash. As a consequence of the payment and cancellation of the debentures, Minera Excellon is no longer required to set aside 50% of the silver produced from its Platosa operation with the custodian against the redemption price of the debentures.

"We're delighted Minera Excellon was able to pay for and cancel the debentures," said Richard W. Brissenden, Excellon's CEO and president. "This financial instrument served us well by raising the funds to get us in to production, but getting the debentures off the books marks another significant milestone in our growth. We will no longer be required to deliver 50% of our silver production to a custodian, and our cash flow will reflect this new reality going forward."

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 EXCELLON RESOURCES INC.

Richard W. Brissenden, President and Chief Executive Officer

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. 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.

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