Excellon Updates Mineral Resource Estimate For The Platosa Mine

TORONTO - Excellon Resources Inc. reported an updated mineral resource estimate on its 100%-owned Platosa Mine in Durango State, Mexico.

Measured plus indicated mineral resources total 488,000 tones grading 777 g/t silver, 8.42% lead, 10.15% zinc or an AgEq grade of 1,277 g/t. M+I resources total 12.1 million silver ounces or 20 million AgEq ounces.  Resources estimated using a conservative US$20/oz silver price, with less than 2% variation resulting from a US$2/oz change in silver price.

La Platosa is one of the world’s highest grade silver deposits with currently identified measured and indicated resources containing 20 million silver equivalent ounces, sufficient to maintain present rates of production for close to seven years, said Brendan Cahill, President and Chief Executive Officer.  The resource demonstrates exceptional resilience to changes in the silver price, a key attribute during this period of lower prices.  Our exploration efforts since the last resource update in 2011 have focused on discovering the large tonnage source of the Platosa mine, but the exploration horizon for new high-grade, near-surface mantos is wide open to the north, east and southeast of our current mining operation.