Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

May 14, 2009 13:15 ET

Selwyn Announces Closing of $250,000 Non-Brokered Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2009) -

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

Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") announces the closing of the $250,000 Flow-through share tranche of the previously-announced Unit and Flow-through financing (see May 8, 2009 News Release). A total of 2,500,000 Flow-through shares were issued at a price of $0.10 each, all of which will be subject to a hold period expiring September 15, 2009. Total finder's fees of $3,000.00 were paid on closing.

The proceeds of the financing will be used for general exploration activities on the Selwyn Project located in the eastern Yukon. The Selwyn Project represents one of the largest undeveloped resources of zinc and lead in the World and is unique in its location in the politically-attractive and stable jurisdiction of the Yukon. It is therefore both a unique opportunity and a strategic asset providing a long term secure supply of zinc and lead to the Pacific Margin.

This news release contains forward-looking statements concerning the proposed financing and the development of the Selwyn Project. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond Selwyn's control. There can be no assurance that such forward-looking 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) 801-7240 or Toll-free: 1-888-989-7240
    or
    Selwyn Resources Ltd.
    Jasmin TamDoo
    Manager of Investor Communications
    (604) 801-7240 or Toll-free: 1-888-989-7240
    (604) 689-8355 (FAX)
    info@selwynresources.com
    www.selwynresources.com