Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

June 03, 2013 18:24 ET

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."

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 Toll-free: 1-888-989-9188
    International Toll-Free: 800-7581-2133
    (604) 689-8355 (FAX)

    Selwyn Resources Ltd.
    Carlos Gonzalez, Manager of Investor Communications
    (604) 801-7240 or Toll-free: 1-888-989-9188
    International Toll-Free: 800-7581-2133
    info@selwynresources.com
    www.selwynresources.com