Selwyn Resources Announces Completion of Sale of Selwyn Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 3, 2013) - Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn" or the "Company") announces that it has completed the sale of the Company's remaining interest in the Selwyn Project (the "Transaction") to Chihong Canada Mining Ltd. ("Chihong Canada"). In connection with the closing of the Transaction, the Company received $40 million in cash from Chihong Canada, being the balance of the $50 million purchase price.

Dr. Harlan Meade, the Chief Executive Officer and President of the Company, said, "Although it was a difficult decision to sell Selwyn's interest in the Selwyn Project, we are pleased that the project is in good hands. We wish Chihong Canada much success in developing the Selwyn Project. The upcoming June 17th meeting of Selwyn's shareholders will determine the future of Selwyn and the use of the sale proceeds. We encourage all shareholders to vote. I would like to take this opportunity to thank all of our shareholders for their support in these matters."