Toronto Stock Exchange - EXN
TORONTO, Nov. 15, 2012 /CNW/ -
Excellon Resources Inc.
(TSX:EXN) ("Excellon" or "the Company"), Mexico's highest grade silver producer, is pleased to announce that the Board of Directors has appointed Mr. Brendan Cahill to the position of President of the Company. Mr. Peter Crossgrove will continue in his roles as Executive Chairman and Chief Executive Officer.
"Brendan has been a tremendous addition to the Excellon team and I am pleased to be transitioning leadership responsibility over to him," stated Mr. Crossgrove.
"Excellon's high grade, low cost silver production from La Platosa provides a rare opportunity to expand our new CRD/Source-style discovery," stated Mr. Cahill. "I look forward to working with the great team at Excellon and further developing our already excellent relationships with the local communities of Bermejillo and Mapimi that rely on La Platosa, as well as with Mexican government and business leaders."
Mr. Cahill joined Excellon as Executive Vice President in summer 2012 and was instrumental in the Company's return to production following an illegal blockade that disrupted production during the third quarter of 2012. He was previously Vice President Corporate Development of Pelangio Exploration Inc., a junior gold exploration company active in Ghana, West Africa and Ontario, Canada, and served as Corporate Secretary of Pelangio Mines Inc., prior to its merger with Detour Gold Corporation. Prior to Pelangio, he was a lawyer in the M&A and corporate securities practices at Davies Ward Phillips & Vineberg LLP. At Davies, he advised on public and private transactions valued at over $15 billion, including Barrick's acquisition of Placer Dome in 2005. He also advised on public offerings totaling over $2 billion dollars for various Canadian companies.
Mr. Cahill holds a law degree from the University of Western Ontario and an undergraduate degree from the University of Toronto.
Excellon's high-grade silver production drives transformative exploration potential. The Company's 100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in the country. With 41,000 hectares of exploration ground surrounding the mine, Excellon is focused on discovering the large-tonnage Source of the high-grade silver mantos currently in production. Such a discovery has the potential to transform La Platosa into the next major project in Mexico's prolific CRD/silver belt.
On behalf of
EXCELLON RESOURCES INC.
Peter A. Crossgrove
SOURCE: Excellon Resources Inc.