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Message: Excellon Comments on Previous Filings
| May 13, 2009 |
| Excellon Comments on Previous Filings |
| TORONTO, ONTARIO--(Marketwire - May 13, 2009) - Following a review of Excellon's (TSX:EXN) continuous disclosure in connection with its recently announced rights offering, pursuant to National Instrument 51-102 - Continuous Disclosure Obligations, Excellon has filed on SEDAR, as a material contract, the Silver Purchase Agreement dated September 4, 2007 with Auramet Trading Inc. Excellon notes that this agreement, while historically relevant, has been effectively terminated and Excellon has no further intention of conduct pursuant to the Agreement. The contract was filed, and this press release is being issued, pursuant to a request of staff of the Ontario Securities Commission. Pursuant to NI 51-102 - Continuous Disclosure Obligations, Excellon also acknowledges that a number of its material change reports filed last year, in April 2008, should in fact have been filed at an earlier date. The Company has reviewed its measures to ensure prompt filing of material change reports. About Excellon Excellon, a mineral resource company operating in Durango State, Mexico, is committed to building value through production, expansion and discovery. Excellon 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. Excellon is currently shipping its ore to Silver Eagle's Miguel Auza mill. Excellon has agreed to acquire all of the outstanding shares of Silver Eagle. The agreement is subject to approval by Silver Eagle shareholders at a shareholders' meeting scheduled for May 28, 2009. In calendar 2009, Excellon's focus is on expanding its operating capacity and increasing its mineral resources through an aggressive exploration program. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system. |
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