Excellon Appoints New Director
posted on
Oct 25, 2012 07:56AM
Building Value through Production, Expansion, and Discovery
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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 Fernandez to the Board
of Directors of the Company.
Mr. Fernandez 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 Oceanografia, S.A. de C.V., the
leading oil services provider in Mexico and a major supplier of Pemex
Petroleos 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. Fernandez 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. Fernandez 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.
About Excellon
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
Executive Chairman
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 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 E.info@excellonresources.com W. http://www.excellonresources.com/">www.excellonresources.com