Mr. Shawn Howarth reports
EXCELLON ANNOUNCES RECEIPT OF STATEMENT OF CLAIM
Excellon Resources Inc. has received a statement of claim in which it has been named as a defendant in an action commenced by Javier Martinez Lomas in the Ontario Superior Court of Justice, related to prior litigation against a former indirect Mexican subsidiary of Excellon. The plaintiff is seeking, among other things, damages in the amount of approximately $23-million (U.S.). The claim arises from a prior dispute in Mexico involving a former subsidiary of Excellon that operated independently under Mexican law. The matter was fully litigated in the Mexican courts, where due process was followed, and the matter was believed to be resolved. The company believes that the lawsuit is an opportunistic attempt to relitigate a dispute that has already been addressed under Mexican law. Excellon believes that the claims in the action are without merit, and will take all appropriate steps to defend the action and dismiss the claim.
About Excellon Resources Inc.
Excellon's vision is to realize opportunities through the acquisition of advanced development or producing assets with further potential to gain from an experienced management team for the benefit of our employees, communities and shareholders. Excellon is in the process of acquiring the past-producing Mallay silver mine and Tres Cerros gold-silver exploration project in Peru. The company is also advancing a portfolio of gold, silver and base metals assets, including: Kilgore, an advanced gold exploration project in Idaho; and Silver City, a high-grade epithermal silver district in Saxony, Germany, with 750 years of mining history and little modern exploration.
We seek Safe Harbor.
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