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Message: Announces Concentrate Deal
| April 2, 2009 |
| Excellon Announces Concentrate Deal |
| TORONTO, ONTARIO--(Marketwire - April 2, 2009) - Excellon Resources Inc. (TSX:EXN) is pleased to announce that it has entered into an interim offtake agreement to sell its lead and zinc concentrates to Ocean Partners (USA), Inc. Ocean Partners, headquartered in Wilton, Connecticut, is a trader of base metal concentrates and provides financial services to the mining industry. The agreement is for a three-month period and gives Excellon the time it needs to complete negotiations on a longer term contract. Under the terms of Excellon's previously announced agreement with Silver Eagle Mines Limited (TSX:SEG), Excellon began processing ore from its Platosa mine at Silver Eagle's Miguel Auza mill in mid-March and will begin to ship lead and zinc concentrate to Ocean Partners in the near future. "This agreement takes us to the next stage of our growth" says Peter Crossgrove, Excellon's Chairman and acting CEO. "We will now no longer be limited in what we can produce by outside factors and can now start to ramp up production at our Platosa operations to the level that we have always envisioned. In addition, this arrangement should provide significantly better revenue than we received under the terms of our previous ore sales agreement". About Excellon Excellon, a 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 and 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. On behalf of EXCELLON RESOURCES INC. Peter A. Crossgrove, Chairman |
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