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Excellon Provides Strategic Update

Proposal to Streamline Excellon's Capital Structure The Board of Directors has proposed the consolidation of the Company's common shares on a five-for-one basis (the "Consolidation").  The Board is convinced that the Consolidation will contribute to immediate and long-term shareholder value post-Consolidation by, among others:

  • increasing the breadth and sophistication of the Company's eligible investor base;
  • increasing trading volume in the stock through a broader investor base;
  • increasing the valuation level and investment profile of the common shares as the Company should no longer be considered a "penny stock"
  • aligning the nominal market price of the common shares with those of the Company's peers.

If approved, the Consolidation would reduce the Company's current 274,960,967 issued and outstanding common shares to approximately 54,992,193 common shares. The number and exercise price of outstanding stock options would be proportionately adjusted based upon the same consolidation ratio.

The Consolidation is subject to the approval of the Toronto Stock Exchange and two-thirds of Excellon's shareholders.

Full details of the Consolidation will be included in the management information circular (the "Circular") to be mailed on April 3, 2013 to all Excellon shareholders of record as of March 26, 2013 in connection with the Annual and Special Meeting of Shareholders to be held on Tuesday, April 30, 2013.  The Circular will also be posted and available on SEDAR at www.sedar.com.

Exceptional Candidates Nominated for Election to Excellon's Board The Board of Directors has nominated Ned Goodman, and Joanne Ferstman for election to one of the strongest boards in the junior mining industry. Mr. Cahill, currently President, was appointed as Chief Executive Officer by the Board.   Mr. Cahill will also stand for election to the Board of Directors at the upcoming Annual and Special Meeting.

Ned Goodman Ned Goodman has been a leader in the global mining industry for more than four decades and is widely recognized as one of Canada's most successful investment counselors.  He is the President and CEO of Dundee Corporation, an independent asset management company focused in the areas of real estate and infrastructure, energy, resources and agriculture, and President, CEO and Chief Investment Officer of Ned Goodman Investment Counsel Limited ("NGIC"), a portfolio manager.

Mr. Goodman is the founder and benefactor of the Goodman Institute of Investment Management, a graduate school for investment management at Concordia University, and the Goodman School of Mines, which is under development at Laurentian University.  He is also the Chancellor of Brock University in Ontario, Chairman Emeritus of the Canadian Council of Christians and Jews, a Governor of Junior Achievement of Canada and a former Director of the Mount Sinai Hospital Foundation. He is also a founding director of the Roasters Foundation, the Jodamada Foundation and the Dynamic Fund Foundation.

Mr. Goodman holds a B.Sc. in geology from McGill University and an M.B.A. from the University of Toronto. He earned the designation of Chartered Financial Analyst in 1967.  In 1997, he was awarded a Doctorate of Laws, honoris causa, by Concordia University.

Mr. Goodman controls, directly or indirectly a total of 17,748,000 common shares of the Company.

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