Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

September 10, 2012 09:00 ET

Selwyn Resources Announces Changes to its Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2012) - Following the suspension of the strategic review process (September 6, 2012 news release), Selwyn has restructured its Board to reflect the mandate given to Harlan Meade to raise working capital to advance the Company's business plan. Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") is pleased to announce that George Stevens, Lorne Anderson, and David Kwong have been appointed to the Board of Directors of Selwyn. Harlan Meade, Selwyn's President and CEO, said, "I am pleased to welcome the new members to the Selwyn Board and look forward to working with them. Additional directors are expected to be added to the Board over the coming weeks as Selwyn completes the restructuring of the Board to better meet the needs of the Company as it seeks to advance its core mine development projects."

Former Board members Brad Marchant, Wade Nesmith, Robert Rusko, and Russell Cranswick resigned on September 9, 2012. Harlan Meade said, "I wish to thank the former members for their valuable service and contribution to the Company and wish them all the best in their future endeavours."

George Stevens, Q.C. was a partner in Lang Michener (now McMillan LLP) for many years until he joined Teck Corporation as Vice President Corporate Affairs in 1992. In his law practice Mr. Stevens specialized in resource law and corporate finance and governance. During his career with Teck, he negotiated resource development and finance agreements related to a number of projects, principally in Latin America and Australia. Following his retirement from Teck in 2001, he rejoined Lang Michener as Associate Counsel until 2006. Mr. Stevens has served on a number of corporate boards, including Yukon Zinc Corporation, for which he acted as Chairman until its takeover by a consortium of Chinese companies in 2008.

Lorne Anderson is a Chartered Accountant who has been a financial consultant to the minerals industry since 1998. From 1988 to 1998 he was the CFO and Treasurer of Glamis Gold Ltd. He was also the CFO of Tyhee Gold Corp from May 2005 until January 2012. He is currently a member of the Board of Tahoe Resources Inc. which is listed on the TSX and NYSE exchanges and the Board of Lake Victoria Mining Inc. He has been a member of several other Boards listed on the TSXV, including Yukon Zinc Corporation.

David Kwong is the Chief Financial Officer of the Company. He is a member of the Canadian Institute of Chartered Accountants and the Illinois Certified Public Accountants Society with experience in management, corporate finance and information technology. He has worked in various capacities across diverse sectors: Corporate Analyst at the TSX Venture Exchange, Comptroller and a member of the Executive Committee of Eminata Group, and Senior Auditor at KPMG.

Selwyn's focus is the exploration and development of the Selwyn Project in eastern Yukon and Northwest Territories with its joint venture partner Chihong Canada Mining Ltd., a subsidiary of Yunnan Chihong Zinc and Germanium Co., Ltd. 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. Selwyn is also advancing the ScoZinc Mine project in Nova Scotia, which requires financing for operations to recommence.

This news release contains forward-looking statements concerning 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 of exploration and development programs, the failure to raise required capital as needed and the failure to obtain necessary regulatory approvals, First Nations support for development, 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.

Neither the 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
    (604) 689-8355 (FAX)
    info@selwynresources.com
    www.selwynresources.com