Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

April 18, 2012 08:58 ET

Selwyn Chihong Agreement with Naha Dehe Dene

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2012) - Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") announces that Selwyn Chihong Mining Ltd. ("Selwyn Chihong"), the joint venture company formed by Selwyn and Chihong Canada Mining Ltd. to advance the Selwyn Project, have entered into a resource funding agreement with Naha Dehé Dene Band (Nahanni Butte) to undertake negotiations of a community agreement in respect of Selwyn Project activities within its traditional territory in the Northwest Territories.

"Selwyn Chihong is encouraged by the willingness of the Nahanni Buttte community to work with us in establishing a framework for our relationship," says Justin Himmelright, VP of Environment and Community Affairs for Selwyn Chihong. "The Howard's Pass Access Road crosses through the traditional territory of Nahanni Butte and is our preferred route for concentrate shipment and mine supply. The parties seek to negotiate an agreement that will be beneficial for both groups."

"The Naha Dehé Dene Band is looking forward to building a strong, productive and mutually beneficial working relationship with Selwyn Chihong", said Chief Fred Tesou, "We believe this is an important first step in this process and in establishing an agreement that ensures the community of Nahanni Butte benefits from the Selwyn Project."

Selwyn Resources Ltd.

Selwyn's primary focus remains the exploration and development of the properties that make up the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong. The Selwyn Project hosts large tonnages of zinc-lead mineralization which have the potential for large-scale production, and could provide a secure supply of zinc and lead to meet the future needs of the markets in Asia and beyond. The recent acquisition of ScoZinc Limited provides Selwyn with a second opportunity for growth and production revenues in the near term. The re-development of the ScoZinc Mine will enhance the Company's ability to finance its participation in the Selwyn Project.

Forward-Looking Statements

This press release contains forward-looking statements concerning the advancement of the Selwyn Project and the results of the feasibility study that is being carried out on the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of market conditions for commodities, the results of exploration activities and engineering studies, the availability of capital on terms acceptable to Selwyn and other risk factors beyond Selwyn's control. As a result, there is no assurance that the Selwyn Project will be advanced to production or that timelines for development of the Selwyn Project will be achieved.

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
    +1 (604) 801-7240 or Toll-free: +1 (888) 989-9188

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