Toronto Stock Exchange - EXN
TORONTO, Nov. 15, 2012 /PRNewswire/ - Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the Company"), Mexico's highest grade silver producer, is pleased to announce that the Board of Directors has appointed Mr. Brendan Cahill to the position of President of the Company. Mr. Peter Crossgrove will continue in his roles as Executive Chairman and Chief Executive Officer.
"Brendan has been a tremendous addition to the Excellon team and I am pleased to be transitioning leadership responsibility over to him," stated Mr. Crossgrove.
"Excellon's high grade, low cost silver production from La Platosa provides a rare opportunity to expand our new CRD/Source-style discovery," stated Mr. Cahill. "I look forward to working with the great team at Excellon and further developing our already excellent relationships with the local communities of Bermejillo and Mapimi that rely on La Platosa, as well as with Mexican government and business leaders."
Mr. Cahill joined Excellon as Executive Vice President in summer 2012 and was instrumental in the Company's return to production following an illegal blockade that disrupted production during the third quarter of 2012. He was previously Vice President Corporate Development of Pelangio Exploration Inc., a junior gold exploration company active in Ghana, West Africa and Ontario, Canada, and served as Corporate Secretary of Pelangio Mines Inc., prior to its merger with Detour Gold Corporation. Prior to Pelangio, he was a lawyer in the M&A and corporate securities practices at Davies Ward Phillips & Vineberg LLP. At Davies, he advised on public and private transactions valued at over $15 billion, including Barrick's acquisition of Placer Dome in 2005. He also advised on public offerings totaling over $2 billion dollars for various Canadian companies.
Mr. Cahill holds a law degree from the University of Western Ontario and an undergraduate degree from the University of Toronto.
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
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 via www.sedar.com 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.