Excellon Resources Inc. (EXN)

[gharma]

News: Excellon extends gold zone to depth on Beschefer Project
http://ih.advfn.com/p.php?pid=nmona&article=57319245&symbol=TSX:EXN

While not excited over the intervals reported in this NR it is worth pulling forward the following announcing completion of the the option to acquire full control over the Timmmins camp DeSantis property.

Based on these promising results the Company elected to exercise its option to earn the remaining 49% of the DeSantis property and has issued 540,000 common shares of Excellon to International Prospectors and Explorers Inc. ("IEP"). This was the final obligation under the terms of the 2010 option agreement between Lateegra Gold Corp. and IEP. The Company now holds a 100% interest, subject to a Net Smelter Returns ("NSR") royalty ranging from 1.5% to 3.5% by portion of the original DeSantis property. In addition in mid-April the Company issued 48,600 shares and made a payment of C$20,000 to a group of three Timmins area prospectors and thereby earned a 100% interest, subject to a 2% NSR royalty, in the contiguous DeSantis West property. The Company has the option to buyout portions of each of the NSRs.