News outGUADALUPE SOUTH MANTO ASSAYS CONFIRM HIGH GRADE MINERALIZATION
May 31, 2006 FOR IMMEDIATE RELEASE
Toronto, Ontario….Excellon Resources Inc. (TSX.V-EXN) is pleased to announce that assays results from intersections in 18
drill holes reported May 18, 2006 confirm high grade mineralization in the Guadalupe South Manto (see Table: Assay Results for
Holes LP153 to LP195). The intersections—all massive sulphide or sulphide bearing breccias with an estimated true thickness
ranging from 0.4 to 9.6 metres—assayed 79 to 3,133 g/T (3 to 101 oz/T) silver, 0.5 to 18% lead, and 0.3 to 25% zinc. Five of
these intersections include massive sulphide bands ranging from 0.8 to 2 metres thick with silver grades ranging from 3,409 to
6,160 g/T (110 to 198 oz/T).
These assay results apply to continuous sulphide mineralization, at least 100 by 60 metres in plan and averaging 2.8 metres thick,
which has a thickness-weighted average grade of 1,204 g/T (38.7 oz/T) silver, 7.8% lead, and 10% zinc. Assay results for seven
additional holes announced on May 18, 2006 are still pending. These seven holes, together with massive sulphide intervals
ranging from 0.4 to 5.5 metres intersected in six holes drilled since that time, add a minimum of 75 metres to the length and 30
metres to the width of the sulphide body for an estimated total area of at least 175 by 90 metres. The Guadalupe South Manto is
approximately 75 metres south of the Guadalupe Manto (see Map: Known Mantos), which has a thickness-weighted average grade
of 1,066 g/T (34.3 oz/T) silver, 8.9% lead, and 10.6% zinc. Both mantos are approximately 130 metres below surface.
"We are very excited about the Guadalupe South Manto, as the assay results show that several holes have greater thicknesses of
mineralization than we initially recognized. This manto is rapidly becoming larger in plan than the Guadalupe Manto, but since
both mantos are at approximately the same depth and have similar grades, we suspect they may be connected. We hope further
surface drilling and underground development will prove this theory," said Richard Brissenden, Excellon's chairman. "Our
exploration goal during the last five months has been to add to our identified resource. We are confident the updated NI 43-101
resource report—due in late June—will live up to these expectations."
Excellon continues to drill with three surface rigs at its Platosa Property in Durango State, Mexico. Two drills are devoted to
step-out holes on the Guadalupe and Guadalupe South mantos and tracing the NE-1 manto. The third drill has begun drilling
holes along the projected trends of the mineralization and their intersections with the structural trends that host mantos found
elsewhere on the property. The results of this drilling will be followed into district-scale targets on the Joint Venture property
held with Apex Silver Mines Limited and on the Saltierra Property optioned from Exploraciones del Altiplano, S.A. de C.V.
Excellon is refining several of the district scale targets using results from a combined biogeochemical and soil-sampling program.
Dr. Peter Megaw, Excellon's consulting geologist and the exploration manager of its Mexican subsidiary, designs and supervises
the Platosa exploration program. SGS Laboratories of Don Mills, Ontario performs the assaying, while ALS Chemex of
Vancouver, British Columbia and/or BSI Inspectorate of Reno, Nevada run the check assays. Roscoe Postle Associates Inc.
("RPA"), of Toronto, Ontario, independent geological and mining consultants, executed the engineering design, and is the
ongoing technical advisor for the test-mining program. RPA is also updating Excellon's NI 43-101 report.
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