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Excellon Resources Encounters High-Grade Sulphide Zones at Platosa Mine

Excellon Resources Inc. (TSX:EXN) has announced assay results for 11 holes from recent Platosa diamond drilling.

Three are from the NE Rodilla area, approximately 50 m northeast of the main known massive sulphides of the Rodilla Manto. Hole LP874 intersected 8.42 metres (m) of massive sulphides grading 818g/t (24 oz/T) Ag, 12.67% Pb, 15.22% Zn. Hole LP872 in the same area intersected 1.85 m grading 1,064 g/t (31oz/T) Ag, 13.54% Pb, 8.53% Zn. The new sulphides may be connected to Rodilla, or may represent a new body developed along a NW-SE-trending structure. The area remains open in several directions.

Three holes are from drilling designed to continue tracing and infilling the extension of the 6A/6B Manto. Hole LP863 intersected 0.91 m of high-grade massive sulphides assaying 1,243 g/t (36 oz/T) Ag, 6.06% Pb, 4.17% Zn. This mineralization is readily accessible from the existing mine infrastructure. Drilling has extended the known massive sulphides in the 6A/6B Manto area 150 m northwest from the closest block included in the NI 43-101 Mineral Resource estimate dated October 31, 2009. At that point the sulphides appear to be cut off by an east-west-trending structure although a further extension may exist beyond the structure.

Two of the holes are from the N-1 Manto Ext. area. The N-1 Manto occurs above the water table and as then known was largely mined out in 2006. Hole LP849 intersected 1.43 m grading 1,606 g/t (47 oz/T) Ag, 3.15% Pb, 10.34% Zn, approximately 25 m from the end of 2006 stoping.

The other three holes are from the NE-1 Manto area and intersected from 0.20 to 3.97 m of high-grade sulphides.

The results from these 11 holes provide continued evidence of the discovery potential for important additional distal carbonate replacement deposit (CRD) resources in the immediate Platosa Mine area.

As reported in the press release dated November 2, 2010 the Company has laid out a series of drill holes to test 3D induced polarization (3D IP) chargeability anomalies outlined during the pilot survey carried out in the spring of 2010. Drilling of these targets will begin shortly.

"We are very encouraged to cut such significant massive sulphide intersections in several areas, particularly northeast of the Rodilla Manto. While we have now begun drill testing our exciting 3D IP anomalies we intend to return to these new massive sulphides after thoroughly assessing their significance and the possibility that we may have encountered a new manto in this area," said John Sullivan, Excellon's Vice-President of Exploration.

Assays for the 11 holes reported and on the accompanying drill hole location map. All intervals are estimated true thicknesses. In addition to these 11 holes there have been another 19 holes drilled at Platosa since the exploration press release dated September 8, 2010. While none of these 19 intersected significant sulphides, the geological information obtained from them is extremely useful in guiding our exploration program.

Excellon's drill core samples are prepared and assayed by SGS Minerals Services (SGS) in Durango, Mexico. The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QAQC program, supervised by an independent Qualified Person.

Qualified Persons

The Company's exploration programs are supervised by John Sullivan, Excellon's Vice-President of exploration, in consultation with Dr. Peter Megaw of IMDEX Inc.

Dr. Peter Megaw, PhD, CPG, and Mr. John Sullivan, BSc., PGeo., have acted as the Qualified Persons, as defined in National Instrument 43-101, for this disclosure.

Dr. Megaw has a PhD in geology and more than 30 years of relevant experience focused on exploring silver and gold systems in Mexico. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent of Excellon as he is a shareholder.

Mr. Sullivan is an economic geologist with over 35 years of experience in the mineral industry. Prior to joining Excellon in 2007 he was a senior geologist at a Toronto-based international geological and mining engineering consulting firm where he evaluated properties and prepared NI 43-101 reports on gold and base metal projects in Canada and internationally. In addition he has held senior positions with two large Canadian mining companies where he directed major exploration programs, managed field offices, and evaluated projects in Canada, Europe, Africa and Latin America. Mr. Sullivan is not independent of Excellon as he is an officer and holds common share purchase options.

Source:

Excellon Resources Inc.

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