Toronto Stock Exchange - EXN
TORONTO, Oct. 25, 2012 /CNW/ - Excellon Resources Inc. (TSX: EXN) ("Excellon" or "the Company") is pleased to announce the appointment of Oliver Fernández to the Board of Directors of the Company.
Mr. Fernández is a recognized Mexican businessman and entrepreneur and serves as a manager or director of a number of Mexican and international companies. He is the founder and president of Grupo Empresarial Maestro, S.A. de C.V. (Credito Maestro), a company that offers microcredit loans to unionized government employees in Mexico. Additionally, he is a consultant to Oceanografía, S.A. de C.V., the leading oil services provider in Mexico and a major supplier of Pemex Petróleos Mexicano, Mexico's national oil company. He has previously acted as General Manager in Mexico of Grupo IBADESA (a Spanish financial services company), Vice President of Camil Group, and was the founder and President of FERDAM, which provides insurance products to unionized government employees.
Mr. Fernández was also a ranked professional tennis player on the ATP Tour and was captain of Mexico's Davis Cup team from 2000 to 2006.
"Mr. Fernández is an exceptionally accomplished businessman whom we know will bring an essential perspective to Excellon's operations in Mexico," stated Peter Crossgrove, Executive Chairman. "We welcome him to the Board of Directors and look forward to working with him in the coming years."
Excellon is currently in full production at the La Platosa Mine in Durango and is shipping ore to the Company's mill at Miguel Auza, Zacatecas. An updated production forecast for the remainder of 2012 will be released in due course.
Excellon's high-grade silver production drives transformative exploration potential. The Company's 100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in the country. With 41,000 hectares of exploration ground surrounding the mine, Excellon is focused on discovering the large-tonnage Source of the high-grade silver mantos currently in production. Such a discovery has the potential to transform La Platosa into the next major project in Mexico's prolific CRD/silver belt.
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.
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