Excellon Announces Management Changes
TORONTO, ON--(Marketwired - January 27, 2015) - Excellon Resources Inc. (EXN.TO) (EXLLF)("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce key additions to its management and technical advisory team. In an ongoing effort to continually improve operations and realize further efficiencies at the Platosa mine, the Company has engaged a team of water management consultants, including Multiurethanes Ltd., Hydro-Ressources Inc., and Technosub Inc.
- Multiurethanes Ltd. is a technical services company specializing in support services for grouting operations in heavy civil construction, utility and mining industries. The company is led by Peter White, a Mining Engineer and renowned grouting specialist with over 30 years of experience in international mining projects in Canada, United States, Mexico, South America, Europe and Asia. He is an expert in controlling major water inflows and troubleshooting difficult grouting projects. Mr. White has supervised and designed grouting programs for several well-known companies including, Vale, Goldcorp, KGHM, De Beers, Nyrstar, Pan American Silver and Agnico Eagle Mines.
- Hydro-Ressources Inc. is led by Michael Verreault, a hydro-geologist and expert in optimizing water management and mine dewatering. He has worked on several projects using groundwater recharge, numerical simulation, tracer test and hydro-geological studies in groundwater and surface water. Mr. Verreault has worked on several notable projects for Goldcorp, Osisko and Iamgold and on Cameco's Cigar Lake deposit.
- Technosub Inc. is one of the premier suppliers of pumps in Canada, supplying pumps to 65% of Canadian mines and 80% of underground mines in Canada. The company provides an integrated platform for efficient dewatering systems from concept design, through pump supply and ongoing maintenance. Technosub has provided pumping solutions to, among others, Detour Gold (Detour Lake), Debeers (Victor), Rio Tinto (Labrador Trough) and Agnico Eagle (Canada and Mexico).
The Company has also engaged Marty Dregischan as a technical consultant to coordinate ongoing enhanced water management efforts. He has over 15 years of international mining experience, with project economics, underground mining and geotechnical evaluations and was previously an analyst at Fraser Mackenzie and consulting mining engineer at Roscoe Postle Associates, Toronto-based international geological and mining consultants. Mr. Dregischan has a Bachelor of Science in Mining Engineering from Queens University and a Masters in Applied Earth Science in Mining from Delft University of Technology, Netherlands.
Additionally, the Company has appointed Mr. Jose Gerardo Rovelo Saenz as Senior Operations Manager, overseeing the Company's Platosa Mine and Miguel Auza Mill. Mr. Rovelo is a mining engineer with over 25 years of experience in underground mining. Most recently Mr. Rovelo was General Manager of First Majestic Silver Corp.'s La Guitarra Mine and Operations Superintendent at La Encantada Mine. At both operations, he was instrumental in reducing costs, enhancing technical capabilities and improving production. He also previously worked as Mine Manager at Diabras Mexicana's Bolivar mine and held various engineering positions with Grupo Mexico. He holds a Mine Engineering degree and M.B.A. from Instituto Tecnológico de Parral. Mr. Rovelo succeeds Mr. Robert Moore, who had served as the Company's Chief Operating Officer since 2009.
"On behalf of the Board and the entire Excellon team, I would like to thank Mr. Moore for his contributions over the past years and wish him well in his future endeavours," stated Brendan Cahill, President and Chief Executive Officer. "Our focus for 2015 continues to be on decreasing costs and increasing production. Further improvements to water management at Platosa represent a tremendous opportunity. Currently, 75% of our direct mining costs relate to water management alone, with the majority spent on pumping and electricity. Developing a long-term solution to water infiltration at Platosa, with the goal of dramatically increasing production and decreasing costs will transform the operation. We look forward to working with these seasoned experts, each of whom will enhance the capabilities of our already competent team on the ground and develop a more permanent solution."
Furthermore, Mr. Peter Crossgrove has now assumed the role of Chairman from his previous role as Executive Chairman of the Company.
Excellon's 100%-owned and royalty-free 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. The Company is positioning itself to capitalize on undervalued projects by focusing on increasing La Platosa's profitable silver production and near-term mineable resources.
Additional details on the La Platosa Mine and the rest of Excellon's exploration properties are available at www.excellonresources.com.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. 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 the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, 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, significant downward variations in the market price of any minerals produced [particularly silver], the Company's inability 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, and particularly the March 25, 2014 NI 43-101-compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the Platosa Property. 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.