Platosa yields mixed results (November 19, 2001)

Vancouver — Three of the first eight holes tabled by Excellon Resources (EXN-V) during the latest bout of drilling have returned significant mineralization on the Platosa base metal property in Mexico’s Durango state.

Two of the holes tested the lateral offset of the previously encountered mineralization. Hole 30 cut 1.3 metres grading 295.5 grams silver per tonne, 4.1% lead, and 4.1% zinc from 146.6 metres down-hole, while hole 33 returned 16.8 metres averaging 892.7 grams silver, 6.7% lead, 8,4% zinc and 0.12% copper.

The results are also in from one of the holes aimed at testing potential feeder zones around the “mantos-style” zone. Hole 35 cut the #5 manto yielding 283 grams silver, 19.1% lead and 0.16% zinc from 149.3 metres down-hole. Further down the hole a new zone of mineralization was encountered returning an impressive 8,186.4 grams silver, 5.9% lead and 5% zinc from 160.6 metres down-hole.

Five of the holes tested geophysical and soil anomalies, but failed to return any significant values.

So far, 12 holes have been completed and about 500 metres of drilling remaining in the planned 3,000-metre program.

The 36,000-acre property hosts a number of tabular bodies known as mantos. Three of these were mined locally in the 1970’s. In 1999, Apex Silver Mines (SIL-X) drill tested the #4 and #5 bodies with 15 and 5 drill holes, respectively. The style and complexity of the mineralization encountered appeared consistent to Apex of a large-scale, silver-lead-zinc replacement system. The mantos are hosted by a paleo-channel of dolomitic grainstone in limstone sedimentary debris breccias.

Excellon can earn a 51% interest in the project by spending US$2.18 million by August 1, 2003.