EXCELLON RESOURCES INC. WEBSITE DISCLAIMER

Excellon Resources Inc.
Cautionary Notes to Investors

The following are important notices for all investors regarding the information contained on this website. Please read these Conditions of Use and Cautionary Notes carefully and thoroughly. The information contained on this website is provided by Excellon Resources Inc. (the “Company”) as a service to its shareholders and the investing public, and may be used for informational purposes only. By viewing, printing or downloading any information from this website, the viewer agrees to the conditions of use. If you do not agree with these conditions, then you should not use or view this website or print or download any information from it.

General Disclaimer and Conditions of Use of Website

The Company has taken all reasonable care in producing and publishing information contained on this website, and will endeavour to do so on an ongoing basis. However, despite such reasonable care, material on this site may still contain technical or other inaccuracies, omissions, or typographical errors, for which the Company assumes no responsibility. The Company does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, without limitation, negligence, will the Company be liable for any direct, indirect, special, incidental, consequential, or other damages, including, without limitation, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this site. The information contained on this website is not a substitute for independent professional advice before making any investment decisions. Furthermore, the viewer may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for the viewer’s own personal use, unless the viewer has obtained the Company’s express written permission.

Unless otherwise indicated, all information posted on this website is current only as of the date of the document that contains the information, if indicated, or the date on which the document is posted, whichever is earlier. The Company may, at any time, make changes to the information on this website without prior notice. You should always ensure that you are referring to the most current information available on this website.

This website is not intended as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by the Company to that effect. The information on this website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to the Company and should not be used for the purpose of making investment decisions concerning the Company’s securities. Printed copies of public disclosure documents may be obtained from the Manager of Corporate Communications at the Company.

All stock quotes available on this website are delayed at least 15 minutes unless otherwise stated. All stock quotes and historical stock price data are provided by third party service providers, are provided for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the securities of the Company, the Company strongly urges you to seek independent professional advice before making any investment decision.

The TSX Venture Exchange has not reviewed the information on this web site and does not accept responsibility for the adequacy or accuracy of it.

Cautionary Note Regarding Forward-Looking Statements

This discussion and disclosure on this website contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 concerning the Company's plans for its properties, operations and other matters. These statements include, without limitation, statements regarding future anticipated exploration program results, the potential discovery and delineation of mineral deposits/resources/reserves, proposed business and financing plans, potential mining and processing scenarios (including the potential construction of a mill at Platosa), the anticipated success of mineral processing procedures, anticipated continued sales of ore and proposed concentrate sales, anticipated business trends and mineral prices, future anticipated operating costs, revenues and cash flow, and may relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates”, “believes”, “proposed”, “intends” or “does not intend”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be, or not be, taken, occur or be or not be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements, including, without limitation:

risks related to mineral prices (particularly, silver, lead and zinc prices) and other commodity price fluctuations or changes in demand for particular mineral products;
risks and uncertainties related to the ability of the Naica mill to continue to process the Company’s production
risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits;
risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, particularly mining and processing costs
uncertain results of initial feasibility, prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations;
mining and development risks, including risks related to adverse weather, accidents, equipment breakdowns, labour disputes, difficult ground, excessive underground water, unanticipated difficulties with or interruptions in production;
the potential for delays in exploration or development activities or the completion of feasibility studies;
the uncertainty of profitability based upon the Company's history of losses;
risks related to failure to obtain adequate financing on a timely basis and on acceptable terms;
risks related to environmental regulation and liability;
risks related to hedging activities;
political and regulatory risks associated with mining and exploration; and
other risks and uncertainties related to the Company's prospects, properties and business strategy.

For a more detailed description of the risk factors applicable to the Company, please see the Company’s Management Discussion and Analysis for the most recently completed fiscal year. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially and adversely from those described in forward-looking statements. Forward looking statements are made based on management's beliefs, estimates, assumptions and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, assumptions and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty or weight to forward-looking statements.

Readers are also cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Excellon Resources Inc.’s actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements, and accordingly, no assurance can be given that the events anticipated by the forward-looking statements will transpire or occur, or that, if any of them do so, what benefits the Company will derive therefrom.

All of the Company's public disclosure filings may be accessed via SEDAR at www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Cautionary Note Regarding the Disclosure of Mineral Resources/Reserves

Uncertainty of Resource/Reserve Estimates

The mineral resource estimates in respect of the Platosa property, while prepared in compliance with National Instrument 43-101 of the Canadian Securities Administrators, are based on limited information acquired through drilling and, in some cases, through underground exploration and mining. No assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. The grade of mineralization actually recovered may differ materially and adversely from the estimated average grades in the resource estimates. Future production could differ dramatically from resource estimates for, among others, the following reasons:

mineralization or formations could be different from those predicted by drilling, sampling and similar examinations;
increases in operating mining costs and processing costs could adversely affect mineral resources;
the grade of the mineral resources may vary significantly from time to time and there is no assurance that any particular level of silver, lead or zinc may be recovered from the mineral resources; and
declines in the market price of silver, lead or zinc may render the mining of some or all of the mineral resources uneconomic.

Any of these factors may require the Company to reduce its resource estimates or increase its costs. Short-term factors, such as the need for the additional development of a deposit or the processing of new different grades, may impair the Company's profitability. Should the market price of metals fall, the Company could be required to materially write down its investment in mining properties or delay or discontinue production or the development of new projects.

Viewers are cautioned that Mineral Resources are not Mineral Reserves and, as such, they do not have any demonstrated economic viability.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This website uses the terms “Measured”, “Indicated” and “Inferred” Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category or that Mineral Resources will ever be upgraded to Mineral Reserves. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies.

United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable or that an Indicated or Measured Mineral Resource is economically or legally mineable.

Cautionary Note to US Investors regarding Adjacent or Similar Properties

This website may also contain information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the US Securities and Exchange Commission's mining guidelines strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

Cautionary Note Regarding Third Party Links

The Company has provided links from this website to several other websites at arm’s length to the Company solely for the convenience of the viewer. The viewer should be aware that, in linking to these outside websites, he or she is leaving the Excellon Resources Inc. website and that the Company has no input into and is not responsible in any manner for any aspect of the content of any other website. The inclusion of these links to such third party websites does not imply that the Company, and the Company does not, endorse or monitor the content of, or information contained on, and such third party website. Accordingly, the Company accepts no responsibility whatsoever for any such third party websites.