Excellon Resources Reports Third Quarter Financial And Exploration Results
Excellon Resources Inc. (the “Company” or “Excellon”) is pleased to report nine-month net income for the period ending September 30, 2011 of $7.5 million as compared to a loss of $1.2 million for the same period of 2010. The Company recorded a loss in the third quarter of $1.0 million as compared to a loss of $2.0 million in the third quarter of 2010. The loss in the current quarter was primarily the result of $3.4 million of unrealized foreign exchange losses attributable to the impact of a strengthening US dollar experienced during late September. The Company reports its financial results in US dollars and conducts its business in the domestic currencies of Mexico and Canada.