Excellon Resources Completes Arrangement With Lateegra Gold Adding Multiple Exploration Targets in the Timmins Gold Camp

Lateegra Gold Corp. ("Lateegra" or the "Company") (TSX VENTURE:LRG) and Excellon
Resources Inc. ("Excellon") (TSX:EXN) are pleased to announce the completion of
the previously announced arrangement between Excellon and Lateegra (the
"Arrangement") pursuant to which Excellon has acquired all of the common shares
of Lateegra ("Lateegra Shares"). The Arrangement was approved by Lateegra's
shareholders at a special meeting held on July 29, 2011, with 99.98% of Lateegra
shareholders voting in favour of the Arrangement. A final order approving the
Arrangement was granted by the Supreme Court of British Columbia (the "Court")
on August 3, 2011.


President and CEO of Excellon, Jeremy Wyeth, comments, "The addition of the
Lateegra assets in the Timmins camp provides Excellon with an exciting
exploration opportunity to deploy the cash flow from the Platosa Project in one
of the most prolific gold camps in the world."


Executive Chairman of Excellon, Peter Crossgrove, comments "I am truly excited
to work with the new management team at Excellon, including Jeremy Wyeth in the
role of President and CEO, and Steve Poad as the new CFO, in the creation of a
new diversified precious metals producer and developer."


Under the Arrangement, Lateegra shareholders will receive 0.54 common shares
(the "Exchange Ratio") of Excellon ("Excellon Shares") for each Lateegra Share
that they own. Outstanding Lateegra warrants and options shall be exchanged for
Excellon warrants and options, as applicable, with the number and exercise price
of such Lateegra warrants and options adjusted in accordance with the Exchange
Ratio. The other terms and conditions of such Lateegra warrants and options
shall remain unchanged.


Pursuant to the terms and conditions of the Arrangement, as endorsed by the
Court, and as further described in the management information circular (the
"Circular") of Lateegra dated June 27, 2011, Lateegra Shares that are not
tendered prior to August 5, 2017 will cease to represent any claim against or
interest of any kind or nature in Lateegra, Excellon or any other party.
Registered Lateegra shareholders are therefore urged to tender certificates
representing Lateegra Shares at their earliest convenience using the letter of
transmittal that accompanied the Circular.


About Excellon: 

Excellon, a mineral resource company operating in Durango and Zacatecas States,
Mexico, is committed to building value through production, expansion and
discovery. Excellon is producing silver, lead and zinc from the high-grade manto
Mineral Resource on its large, 100% owned Platosa Property, strategically
located in the middle of the Mexican silver belt. Excellon's focus is on
expanding its operating capacity and increasing its Mineral Resources at Platosa
where an exploration program focused on diamond drilling and advanced
geophysical techniques is ongoing. All of these activities are fully funded
through existing cash flow. The Platosa Property, not fully explored, has
several geological indicators of a large mineralized system. Excellon also holds
interest in three promising gold properties northeastern Ontario and
northwestern Quebec, including the DeSantis Mine Project in Timmins, Ontario,
the Beschefer Project, near Matagami, Quebec and the Stoughton Project, near the
Holt-Holloway Gold Mine. 


On behalf of 

EXCELLON RESOURCES INC.

Jeremy Wyeth, President and Chief Executive Officer

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 27E of the Exchange Act. Such
statements include, without limitation, statements regarding the future results
of operations, performance and achievements of the Company, including potential
property acquisitions, the timing, content, cost and results of proposed work
programs, the discovery and delineation of mineral deposits/resources/reserves,
geological interpretations, proposed production rates, potential mineral
recovery processes and rates, business and financing plans, business trends and
future operating revenues. Although the Company believes that such statements
are reasonable, it can give no assurance that such expectations will prove to be
correct. Forward-looking statements are typically identified by words such as:
believe, expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future events. The
Company cautions investors that any forward-looking statements by the Company
are not guarantees of future results or performance, and that actual results may
differ materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the nature,
quality and quantity of any mineral deposits that may be located, significant
downward variations in the market price of any minerals produced (particularly
silver), the Company's inability to obtain any necessary permits, consents or
authorizations required for its activities, to produce minerals from its
properties successfully or profitably, to continue its projected growth, to
raise the necessary capital or to be fully able to implement its business
strategies. All of the Company's public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these materials, including the
technical reports filed with respect to the Company's mineral properties, and
particularly the January 15, 2010 NI 43-101-compliant technical report prepared
by Scott Wilson Roscoe Postle Associates Inc. with respect to the Platosa
Property. This press release is not, and is not to be construed in any way as,
an offer to buy or sell securities in the United States.
Lateegra Gold Corp Com (TSXV:LRG)
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