Toronto Stock Exchange - EXN
TORONTO, July 23, 2012 /CNW/ - Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the Company") is pleased to report the appointment of Brendan Cahill to the position
of Executive Vice President of the Company.
Mr. Cahill was previously Vice President Corporate Development of
Pelangio Exploration Inc., a junior gold exploration company active in
Ghana, West Africa. At Pelangio, he managed the spin-off of Pelangio
Mines' exploration assets to Pelangio Exploration and the subsequent
merger of Pelangio Mines with Detour Gold, as well as various other
property acquisitions in Canada and Ghana.
Prior to Pelangio, Mr. Cahill was an associate in the M&A and corporate
securities practices at Davies Ward Phillips & Vineberg LLP. At
Davies, he advised on public and private transactions valued at over
$15 billion, including Barrick's acquisition of Placer Dome in 2005.
He also advised on public offerings totaling over $2 billion dollars
for various Canadian companies.
Mr. Cahill holds a law degree from the University of Western Ontario and
an undergraduate degree from the University of Toronto.
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