Excellon Resources Inc. (TSX: EXN), a self-sustaining 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 2008, Excellon's focus is on increasing its Mineral Resources through an aggressive $11-million exploration program, and expanding its operating capacity with the building of a mill at site.  The Platosa Property, not fully explored, has several geological indicators of a large mineralized system; the tracking of which Excellon believes will lead to the discovery of a world class deposit.

The Potential

Excellon is continuing its surface and underground exploration and development program to locate both additional high-grade mineralization near the Platosa test-mine, and a near-source, large tonnage major carbonate replacement deposit ("CRD") system in the Mexican CRD Belt. These deposits, together with major vein systems, support the development of most of the larger Mexican underground silver and base metal mines. The Platosa property is strategically located along the geological trend of these larger deposits.

The Platosa Mine area is largely overburden covered and exploration to date has relied on a combination of Natural Source Audio Magneto Tellurics ("NSAMT") geophysics, soil geochemical surveys, and biogeochemical prospecting methods. These methods assisted in the discovery of the Guadalupe and Guadalupe South mantos and the NE-1 area mineralization. Other coincident anomalies have been identified on the property and certain of these will be drilled during 2008. An airborne electromagnetic and magnetic survey was flown in early 2007 and the results have been incorporated into the Company’s target delineation protocols.  Induced polarization geophysical surveying is being undertaken in 2008.

The Location             

The Platosa Property is well situated for mineral exploration and mine development. Located 45 kilometres north of Torreón, a major population centre with an international airport, Platosa is next to a regional power grid and has paved road access. There is an abundant local labour supply and a large service sector supporting other mines and heavy industrial activity in the region.

Excellon’s Platosa property package is extensive. The mineralized system hosting the known Mineral Resource could extend for up to eight kilometres in any direction and still be on Excellon mineral concessions. Excellon’s property holdings are divided into concessions it owns outright (some subject to a royalty), and concessions under a joint venture agreement with Apex Silver Mines Limited (Excellon 51%, Apex 49%).

Mineral Resource Estimate

The NI 43-101-compliant Mineral Resource estimate for the Platosa deposit as of February 3, 2008 was prepared by Scott Wilson Roscoe Postle Associates Inc., independent geological and mining consultants. Readers are cautioned that Mineral Resources are not Mineral Reserves and do not have any demonstrated economic viability.

Category	Tonnes (t)	Silver (g/t)	Lead (%)	Zinc (%)
Indicated	417,000	1,060	9.31	9.79
Inferred	73,000	758	9.19	9.69

Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources are estimated at an incremental cut-off value of U.S. $40 per tonne
3. NSR metal price assumptions: Silver U.S. $13.00/oz, Lead U.S. $0.90/lb, Zinc U.S. $1.10/lb.
4. Estimate is of Mineral Resources only and, because these do not constitute Mineral Reserves, they do not have any demonstrated economic viability.
5. A detailed description of the estimation and other pertinent geotechnical information is in a NI 43-101 compliant technical report prepared by Scott Wilson RPA, which is filed on SEDAR.

Production at Platosa

Platosa is an underground test-mine operation in which the mineralization is accessed by a 4 x 4 metre ramp; the mineralization is mined and trucked to surface, where it is crushed, sampled, and loaded into trucks for shipment. The present production rate (mining and crushing) is approximately 200 tonnes per day.

Crushed material from Platosa is shipped to the Naica Mill in Chihuahua State that is operated by the Minera Maple (formerly named Fresnillo) division of the Industrias Peñoles Group.  Peñoles purchases the mineralization at Platosa based on assay results, with an 80% provisional payment made, on average, 26 days after shipment. Final settlement is made in the second month following delivery. SGS Minerals Services, Durango, Mexico, independently samples the mineralization on behalf of Peñoles and Excellon.

Carbonate Replacement Deposits     

The Platosa deposit is a CRD style of mineralization comprising a series of pods and lenses (called "mantos") of massive and semi-massive to disseminated silver-lead-zinc sulphides. The mineralization, associated alteration, and complexity seen at Platosa are similar to larger-scale Mexican CRDs that contain from 5 to 50 million tonnes. The metal content and controls of what has been found to date at Platosa are typical of the irregular, high-grade fringes of replacement systems, at the centre of which are found larger-scale deposits in this mineralized belt. Diamond drilling in 2007 and 2008 near the Platosa Mine has intersected additional areas of high-grade mineralization, outlining the Rodilla and NE-1 Mantos.  This drilling continues. Drilling on the western portion of the property, five kilometers west of the Platosa operation has identified geological and alteration features, along with sulphide mineralization that together suggest that the Company is near the larger-scale and more regular central part of a CRD system that is the primary focuses of Excellon’s ongoing regional exploration program.