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Oban Mining Acquires DeSantis Property from Excellon

Editorial Checklist

Reviewed

Dec 9 2015

Excellon Resources Inc., Mexico's highest grade silver producer, is pleased to announce the sale of 100% of its DeSantis Property in the Porcupine Mining Division in Ogden Township, Ontario, Canada to Oban Mining Corporation in exchange for 850,000 common shares in the capital of Oban.

Excellon and Oban have agreed to negotiate in good faith to enter into a purchase agreement reflecting the terms of the Transaction.

"While we focus our efforts on the optimization plan for our Platosa mine, selling the DeSantis property to Oban is a great way of unlocking value for our shareholders in current market conditions," stated Brendan Cahill, President and Chief Executive Officer. "Oban has a high quality portfolio of projects in Canada and we are very pleased to be a shareholder."

The Transaction is expected to close before January 8, 2016 and is subject to the approval of the Toronto Stock Exchange and other customary conditions for a transaction of this nature.

Source:

http://www.excellonresources.com/

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