Excellon Seals Water Inflow at Platosa
Excellon Resources Inc. (TSX: EXN) is pleased to announce that it has successfully sealed the water inflow encountered during normal mine development on October 4th. The dewatering of the mine to active working area is expected to take several days, following which, mine production and development will resume. The Company has ore stockpiled within the mine, which when accessible will be available to deliver to the Penoles Naica mill almost immediately and regular shipping will resume shortly thereafter.
The Company plans to mine for the next four to six months from areas previously developed prior to the water inflow encountered with the recent new mine development. During this period, Excellon will continue to implement an expanded review of the mine hydrology and development of alternative mine dewatering plans to minimize any future impact on mine production.
Excellon, a 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 and calendar 2009, Excellon’s focus is on expanding its operating capacity with the building of a mill at site and increasing its Mineral Resources through an aggressive exploration program. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system.
On behalf of
EXCELLON RESOURCES INC.
Peter A. Crossgrove, Chairman
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.
Contacts: Excellon Resources Inc. Robert Brissenden Vice President, Corporate Development (416) 364-1130 (416) 364-6745 (FAX) Email: email@example.com Website: www.excellonresources.com
SOURCE: Excellon Resources Inc.