Excellon provides strategic update

About this update from Excellon Resources Inc.

[{"type":"text","content":"\n\n\n\n\n\nToronto Stock Exchange - EXN\n\n\nTORONTO, March 26, 2013 /CNW/ - Excellon Resources Inc. (TSX:EXN) (\"Excellon\" or \"the Company\"), Mexico's highest grade silver producer, is pleased to announce strategic\n revisions to the Company's business plan, improvements to its capital\n structure and additions to its Board of Directors.  Highlights include:\n\n\nRevision of near-term business strategy to focus on increasing\n production, cash flow and mine life and to position the Company to\n capitalize more effectively on developing market opportunities;\n\n\nProposal to improve the investment attraction of the Company's common\n shares by consolidating the outstanding common shares on a five-for-one\n basis; \n\n\nAppointment of Brendan Cahill as Chief Executive Officer; and\n\n\nNomination of Ned Goodman, CEO of Dundee Corporation, Joanne Ferstman,\n former CEO of Dundee Capital Markets Inc., and Brendan Cahill for\n election to the Board of Directors. \n\n\n\"The current mining investment market is providing opportunities seldom\n seen in a generation,\" stated Peter Crossgrove, Executive Chairman.  \"We are positioning ourselves to seize these opportunities and build\n Excellon into another of Mexico's successful mid-tier silver producers\n by refocusing on the basics - the yet-to-be-realized potential for increased production and mine life\n at our high-grade, low cost and profitable La Platosa Mine.\"\n\n\n\"We will also seek shareholder approval to streamline our capital\n structure by consolidating the Company's common shares on a\n five-for-one basis. The Board believes that La Platosa's strong cash\n flow will fund future growth in both production and mine life without\n requiring further equity financing.  We are convinced, therefore, that\n the proposed consolidation should improve long-term shareholder value\n by broadening the potential investor base, raising market visibility\n and enhancing the perceived value of the Company's common shares.\"\n\n\nMr. Crossgrove continued, \"The Board of Directors is pleased to announce the nomination for\n election of Ned Goodman and Joanne Ferstman.  They are founders and builders of internationally successful mining and\n financial companies and bring exceptional business, financial and capital market experience\n to the Company. We are also please...

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