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Excellon Temporarily Suspends Work at Platosa Test-Mine TORONTO, ONTARIO--(MARKET WIRE)--May 21, 2008 -- Excellon Resources Inc. (Toronto:EXN.TO - News) announces that it has
temporarily suspended work at the Platosa Test-mine while
it investigates an unexpected underground water inflow.
No employees were hurt and all mobile equipment was brought
to surface. This inflow occurred when a pilot hole for a
new ventilation raise was being enlarged. Although appropriate
precautionary steps to prevent this event were taken, the
drilling encountered an unexpected fault containing water.
The Company is still evaluating the situation, and will
provide updates as they become available. Excellon is preparing to seal off the inflow, and will review its existing program for controlling ground water inflows to minimize any future occurrences. The Company's standard procedure is to drill test holes for all new underground development headings and grout when water is encountered. "Although this unexpected event is frustrating, we are responding to the situation in a timely and appropriate manner," said Peter A. Crossgrove, Excellon's chairman. "Most importantly, no employees were hurt. We are focused on sealing off the inflow, and resuming normal operations as soon as possible." About Excellon 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 2008, Excellon's focus is on increasing its Mineral Resources through an aggressive $11 million 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 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 September 29, 2006 and June 1, 2007 43-101 technical reports prepared by Scott Wilson Roscoe Postle & Associates 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.
Contact: Contacts:
Excellon Resources Inc.
Annemarie Brissenden
Manager, Corporate Communications
(416) 364-1130
Email: abrissenden@excellonresources.com
Website: http://www.excellonresources.com
Source: Excellon Resources Inc.
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