Toronto Stock Exchange - EXN
TORONTO, July 27, 2012 /CNW/ - Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the Company") today provided the following update on the status of the illegal action
at the Company's La Platosa mine, which has been enacted by the Ejido
de La Sierrita (The Ejido), assisted by the NGO group PRODESC and
Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y
Similares de la República Mexicana, affiliated with the United
Steelworkers Union of Canada (USW).
The Company has been notified that a group from the local town of
Bermejillo consisting of concerned citizens and La Platosa mine
workers, all of whose livelihoods have been adversely affected by the
illegal action, will be peacefully demonstrating against the illegal
action at the mine site today. The Company understands that the group
demands that The Ejido and all other parties involved with the illegal
action end the blockade immediately so that all workers can resume
their jobs at La Platosa.
Executives from Excellon along with members of all parties concerned
with the blockade have been in constant contact and negotiations during
the past two weeks. Excellon continues to engage with all relevant
stakeholders in working towards a resolution of the blockade, urging
all parties to remain peaceful.
The Company does not employ independent security at La Platosa and is
relying on the Federal and Municipal Governments as well as on the
State Government to ensure that today's protest remains peaceful and
that the safety of all participants is assured.
While the blockade is in place, the mine continues to be on essential
services and care and maintenance.
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.
Peter A. Crossgrove
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. 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, 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 November 22, 2011 NI
43-101-compliant technical report prepared by 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.
SOURCE: Excellon Resources Inc.
For further information:
Excellon Resources Inc.
Joanne C. Jobin, Vice President, Investor Relations
T. (416) 364-1130