Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

October 22, 2007 18:38 ET

Selwyn Resources Announces Closing of $3,150,000 Non-Brokered Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to announce the closing of the private placement announced on the October 17 News Release. A total of 4,500,000 Flow-Through common shares (the "Offering") were issued at $0.70 per share. The Flow-Through common shares issued will be subject to a hold period which expires on February 23, 2008.

Selwyn's focus is the exploration of its properties that make up the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for the large scale production of zinc and lead, at a time when major new mines are needed to ensure adequate future zinc mine supply.

Except for the statements of historical fact contained herein, the information presented in this News Release constitutes "forward-looking statements" as such term is used in Canadian laws. These statements relate to information that is based on forecasts of future events and assumptions of management. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Selwyn Resources Ltd.
    Dr. Harlan Meade, President and CEO
    (604) 682-5474 or Toll Free: 1-877-682-5474
    International Toll Free: 1-800-8682-5474
    or
    Selwyn Resources Ltd.
    Jasmin TamDoo, Manager of Investor Communications
    (604) 682-5474 or Toll Free: 1-877-682-5474
    International Toll Free: 1-800-8682-5474
    (604) 682-5404 (FAX)
    Email: info@selwynresources.com
    Website: www.selwynresources.com