EXCELLON REPORTS FINANCIAL RESULTS

Toronto, Ontario – May 1, 2013

Company"), Mexico’s highest grade silver producer,

month periods ended March 31, 201

Q1 2013 Highlights

• Production of 495,529 silver equivalent ounces from

La Platosa Mine in Durango, Mexico

o Ore grades of 591 g/t (17.24

o 312,167 ounces Ag;

o 2,161,223 lbs Pb; and

o 3,506,965 lbs Zn;

• Net cash costs per silver ounce

increased production tonnage and strong byproduct credits

• Net loss of $601,000 for the quarter

• Expenditures during the period include

Canada, with a combined total of

• Financial position remains strong, with c

growing to $11.5 million at the end of the

• High-grade drill results at each of our projects in Mexico and Canada

o La Platosa: 7.25 g/t Au and 3.57% Zn over 13.1 m

4.42% Pb, 5.05% Zn over 6.23 m

o Beschefer: 55.60 g/t Au over 5.57 m in BE13

o DeSantis: 2.16 g/t Au over 31.70 m,

“During the first quarter of 2013, we were focused

our properties,” stated Brendan Cahill, President and Chief Executive Officer. “

three of these programs, with significant Source

of high-grade gold on the project, and high

results add to our long term exploration potential and enhance the value of both

Canadian projects.”

Mr. Cahill continued, “As we shift our strategy during the second quarter to focus on optimizing high

production and increasing mine life, w

expected silver prices and the recent

silver price and our expected return

mineralization, we expect our profitability to

Excellon Resources Inc.

20 Victoria Street .

Toronto . Ontario .

Canada . M5C 2N8

6.364.1130 F: 416.364.6745 W: ExcellonResources.com

MAY 1, 2013 Toronto Stock Exchange

EXCELLON REPORTS FIRST QUARTER

FINANCIAL RESULTS

, 2013 – Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the

Mexico’s highest grade silver producer, is pleased to report financial results for

2013 and 2012.

silver equivalent ounces from the 100%-owned

Platosa Mine in Durango, Mexico, including:

17.24 oz/T) Ag, 6.35% Pb and 10.01% Zn;

per silver ounce of $6.96(1) remain among the lowest in the industry

increased production tonnage and strong byproduct credits;

for the quarter;

Expenditures during the period include $4.8 million on successful exploration in Mexico and

total of over 26,000 metres of diamond drilling;

Financial position remains strong, with cash, marketable securities and trade receivables

the end of the period;

at each of our projects in Mexico and Canada, including:

7.25 g/t Au and 3.57% Zn over 13.1 metres (“m”) in LP1038

Zn over 6.23 m in LP1044;

55.60 g/t Au over 5.57 m in BE13-035;

2.16 g/t Au over 31.70 m, including 4.09 g/t Au over 7.20 m, in DS11

, we were focused on an intensive drill program with seven rigs on three of

stated Brendan Cahill, President and Chief Executive Officer. “We were successful on all

three of these programs, with significant Source-style intersections at La Platosa and the first occurrences

grade gold on the project, and high-grade gold results from both of our Canadian projects. These

long term exploration potential and enhance the value of both our

As we shift our strategy during the second quarter to focus on optimizing high

production and increasing mine life, we expect to see a rapid return to profitability, despite lower than

recent mining of lower grade areas of the mine. With a rebound in

our expected return in the coming months to mining 700 g/t to 800 g/t silver

profitability to improve and cash costs per ounce to decrease significantly.

8

Toronto Stock Exchange – EXN

No. 12 – 2013

FIRST QUARTER 2013

Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the

results for the three

owned and royalty free

remain among the lowest in the industry due to

exploration in Mexico and

ash, marketable securities and trade receivables

including:

in LP1038 and 123 g/t Ag,

including 4.09 g/t Au over 7.20 m, in DS11-016F.

on an intensive drill program with seven rigs on three of

were successful on all

style intersections at La Platosa and the first occurrences

grade gold results from both of our Canadian projects. These

our La Platosa and

As we shift our strategy during the second quarter to focus on optimizing high-grade

e expect to see a rapid return to profitability, despite lower than

With a rebound in the

mining 700 g/t to 800 g/t silver

to decrease significantly.”