Toronto Stock Exchange - EXN
TORONTO, June 4, 2012 /CNW/ - Excellon Resources Inc. (TSX: EXN) ("Excellon" or "the Company") Mexico's highest grade silver producer, announces that effective June 1,
2012, Mr. Jeremy Wyeth, Chief Executive Officer has resigned from the
Company to pursue other interests.
The Board of Directors wishes to thank Mr. Wyeth for his contributions
over the past year and wishes him all the best in his future
endeavours. Mr. Peter Crossgrove, Executive Chairman, will take over
as Chief Executive Officer in the interim.
Excellon, a mineral resource company operating in Durango and Zacatecas
States, Mexico, and Ontario and Quebec, Canada, is committed to
building value through production, expansion and discovery.
Excellon is Mexico's highest-grade silver producer; it produces silver,
lead and zinc from the high-grade manto Mineral Resource on its large,
100% owned Platosa Property, strategically located in the middle of the
Mexican CRD/silver belt. Excellon's focus is on expanding its operating
capacity and increasing its Mineral Resources at Platosa where an
exploration program focused on diamond drilling and advanced
geophysical techniques is ongoing. The Platosa Property, not fully
explored, has several geological indicators of a large mineralized
system. The Miguel Auza Mill Operation in Zacatecas also has 41,000
hectares of underexplored land. Excellon also has ongoing gold
exploration programs on the DeSantis Project, located near Timmins,
Ontario and the Beschefer Project, located in northwestern Quebec.
Both these projects host gold mineralization and significant potential
for the discovery of more. Excellon will continue to use cash from
operations to fund its ongoing exploration activities.
On behalf of
EXCELLON RESOURCES INC.
This document contains "forward‐looking statements" within the meaning of applicable Canadian securities
legislation and applicable U.S. securities laws. Except for statements
of historical fact relating to the Company, such forward‐looking statements include, without limitation, statements regarding
future business plans and intentions, the performance and achievements
of the Company, proposed work programs, geological interpretations, the
potential of the Company's properties, the potential for discovery and
delineation of mineral deposits/resources/reserves, and operating
revenues. Forward looking statements are made based on management's
beliefs, estimates, assumptions and opinions on the date the statements
are made. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove
to be correct and the Company undertakes no obligation to forward‐looking statements, except as may be required by law. Forward‐looking statements are typically identified by words such as: believes,
expects, anticipates, intends, estimates, targets, plans, postulates,
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 business plans and actual results may differ
materially from those in forward‐looking statements as a result of various risk 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. A description of the risk factors applicable
to the Company can be found in the Company's most recent Annual
Information Form under "Description of the Business - Risk Factors".
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 latest NI 43‐101‐compliant technical report prepared by Roscoe Postle Associates Inc.
with respect to the Platosa Property. This document is not, and is not
to be construed in any way as, an offer to buy or sell securities in
the United States.
For further information:
Excellon Resources Inc.
Joanne C. Jobin, Vice President, Investor Relations
T. (416) 364-1130