TORONTO, ONTARIO--(Marketwire - April 30, 2008) -



Excellon Resources Inc. (TSX:EXN) is pleased to announce that it has entered into an agreement with Maison Placements Canada Inc. (the "Agent") to offer for sale on a best efforts private placement basis, up to $10 million worth of common shares of Excellon at a price of $1.30 per share (the "Offering").

Excellon shall pay to the Agent a commission of 5.0% of the gross proceeds of the Offering. In addition, the Agent will be issued on the closing date Broker Warrants equal to 10.0% of the number of common shares sold under the Offering. Each Broker Warrant shall be exercisable at any time for one common share at $1.30 per share for a period of 24 months from the closing date. Closing may occur in one or more tranches with the first closing expected to occur on or about May 12, 2008. Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX. The proceeds of the Offering will be used to fund on-going exploration and development and for general working capital purposes.

"Although we are generating enough positive cash flow to build a mill and pay for an aggressive exploration program, it is prudent to build up our treasury. This financing accomplishes that," said Peter Crossgrove, Excellon's chairman. "Excellon now has the ability to weather any cash flow shortages during these uncertain markets, and can remain focused on getting the mill built and adding to the success of our exploration program."

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.