Excellon Announces Six Additional Sulphide Intercepts in the Guadalupe Manto and Buy-Out of IMDEX/Cascabel Finder's Fee.

TORONTO -- Excellon Resources Inc. (TSX VENTURE:EXN) is pleased to announce that massive and semi-massive sulphides ranging from 1.4 to 4.3 metres thick have been encountered in six additional holes drilled around drill hole LP05-132, which cut 9.3 metres of massive sulphides grading 1,516 g/t silver (49 ounces per ton), 16.4 per cent lead, and 15 per cent zinc (see press releases of 23/01/06 and 21/12/05). The recent drilling (EX06LP-145 to 150: see table below) has expanded on the approximate 15-metre grid pattern centred on LP-132 described previously (see press release of 02/20/06), and brings the success rate of drilling into the Guadalupe Manto to 14 of 17 holes with 1.5 to 9.4 metres of sulphide mineralization (see map on www.excellonresources.com). The core from all these holes has been cut and assays are pending. The Guadalupe Manto now has a strike length approaching 100 metres, a width of 50 to 65 metres, and remains open in several directions. Drilling to seek continuations and feeders to this manto are on-going and an independent review of the results to incorporate the manto into the updated 43-101 resource calculation has begun.

A second drill rig has been contracted to test district scale targets up to five kilometres from the Platosa Mine area and is expected to arrive on the property within the next 10 days. All permits required for this drilling are in hand.

Excellon is also pleased to announce TSXV acceptance of a buy-out settlement of the 1996 Finder's Fee agreement with IMDEX Inc./Minera Cascabel S.A. de C.V., which introduced Excellon to the Platosa Property in 1996. The settlement calls for IMDEX/Cascabel to receive three million shares of Excellon and U.S. $100,000, and relieves Excellon from any further obligations under the Finder's Fee agreement. The president of IMDEX Inc., Dr. Peter Megaw, will remain in charge of exploration at Platosa with his crew from Minera Cascabel led by Ing. Rene Ramirez.

"We're pleased to have the Guadalupe Manto continue to grow into our largest manto to date so quickly. On the assumption that the grades from all our recent holes are comparable to those of the Guadalupe discovery hole, we have begun planning to bring this manto into our test mining operation. We are also pleased to be in a position to bring in a second rig to resume testing some of our larger-scale district exploration concepts. We intend to begin by tracing the structure that hosts the Guadalupe Manto to the southeast. We can see its projection through strongly silicified and manganese-oxide stained outcrops for several kilometres and think we can trace it through covered zones with our geophysics and biogeochemistry as well," said Excellon's chairman, Richard Brissenden. "We're also pleased to have settled our Finder's Fee obligations to IMDEX/Cascabel, which brought us to the property and has been one of the major forces behind the project's success. We look forward to continued success in our on-going exploration with them."

The Platosa exploration program is designed and supervised by Dr. Peter Megaw, Excellon's Consulting Geologist and Exploration Manager of its Mexican subsidiary. Assaying is being performed by SGS Laboratories of Don Mills, Ontario with check assaying by ALS Chemex of Vancouver, British Columbia, and/or BSI Inspectorate of Reno, Nevada. Roscoe Postle Associates Inc. of Toronto, Ontario, independent geological and mining consultants, has executed the engineering design and supervision of the test mining program.

Qualified Person and Quality Assurance and Control

Dr. Peter Megaw, PhD, CPG, has acted as the Qualified Person, as defined in N.I. 43-101, for this disclosure and supervised the preparation of the technical information on which this release is based. Dr. Megaw has a Ph.D. in geology and more than 20 years of relevant experience focused on silver and gold mineralization, and exploration and drilling in Mexico. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent of Excellon as he is an officer of Excellon's Mexican subsidiary, and he and his company are Excellon shareholders.

For a map of the Guadalupe Manto Sulphide Intercepts, please click on the link below: http://www.ccnmatthews.com/docs/exn306.pdf

On behalf of

EXCELLON RESOURCES INC.

Richard W. Brissenden,                     A. Douglas MacKenzie,
Chairman and Chief Executive Officer       Vice Chairman

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 future anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, 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, the Company's ability 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.

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.

Excellon Resources Inc. (TSX VENTURE:EXN)