Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

August 22, 2011 08:30 ET

Selwyn Announces Termination of the Proposed 24 Million Share Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) –

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

As disclosed in Selwyn's final short form prospectus dated July 8, 2011, Selwyn entered into an arrangement with Suntura Capital of Zurich, Switzerland ("Suntura") to sell up to 24 million common shares of Selwyn outside of Canada and the United States on a best efforts basis. Such shares were to be sold at the greater of (i) the five day volume weighted average trading price for the Selwyn common shares on the TSX Venture Exchange before the second trading day before Selwyn received the receipt for its final short form prospectus, and (ii) $0.25 per share. Due to market conditions, Selwyn and Suntura have terminated their arrangement, and none of the 24 million common shares were sold.

About Selwyn Resources Ltd.

Selwyn's main focus remains the exploration and development of the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong Canada Mining Ltd. The Selwyn Project has the potential for large-scale production and to provide a secure supply of zinc and lead to meet the future needs of these markets in Asia and beyond. The revitalization of the ScoZinc Mine will provide Selwyn with a second opportunity for growth and provide additional cash flow for advancing the Selwyn Project.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Selwyn Resources Ltd.
    Dr. Harlan Meade
    President and CEO
    (604) 801-7240 or 1-888-989-9188

    Selwyn Resources Ltd.
    Catalin Chiloflischi
    Manager of Investor Communications
    (604) 801-7240 or 1-888-989-9188
    (604) 689-8355 (FAX)
    info@selwynresources.com
    www.selwynresources.com