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Message: Excellon's Directors Approve Mill Construction

Excellon's Directors Approve Mill Construction

posted on Apr 16, 2008 09:39PM

Been waiting on this for a couple of years now. Very sweet.

Deno 

Excellon's Directors Approve Mill Construction

TORONTO, ONTARIO, Apr 16, 2008 (MARKET WIRE via COMTEX News Network) --

Excellon Resources Inc. (TSX: EXN) reports that its directors have approved the construction of a 350 tonnes per day (120,000 tonnes per annum) lead/zinc flotation mill at its Platosa test-mine site near Bermejillo, Mexico. Basic engineering and equipment procurement has already been initiated. Site and environmental permitting, together with tailings disposal permitting, is also underway. Mill construction is anticipated to commence in the second half of 2008 with mill commissioning to commence in the first quarter of 2009.

The mill capital cost is estimated at $10 million with an estimated payback of less than one year after reaching full commercial production.

Pending mill construction, run of test-mine production will continue to be direct shipped to the Penoles mill facilities at Naica, Mexico for further processing.

About Excellon

Excellon, a self-sustaining 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.

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