Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

June 14, 2007 10:57 ET

Selwyn Resources Announces Deep High-Grade Intercepts Continue to Expand Underground Mineral Potential of Don Valley

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) - Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to provide an update on recent drilling activities in the Don Valley for the Selwyn Project. The results from the Don Valley are very encouraging and continue to expand the understanding of the high-grade zinc-lead mineral potential at depth in Don Valley. The initial drilling in Don Valley is focusing on the 4,200 metre length of Active Member between the Don and HC West Deposits. 18 drill holes have been completed year to date for a total of 5,529.8 metres, and 4 drill holes are in-progress for an additional total of 1,117.4 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-058 intersecting 13.50 metres true thickness of the Active Member at a depth of 420 metres with a grade 8.55% zinc and 2.88% lead including 5.50 metres grading 10.77% zinc and 3.18% lead.

- DON-056 intersecting 13.40 metres true thickness grading 4.74% zinc and 1.43% lead including 4.80 metres grading 7.70% zinc and 2.56% lead

Don Deposit Deep Drilling

One drill continues to operate on the high-grade underground mineral potential on the Don Deposit targeting an area of at least 600 by 600 metres that is modeled to potentially contain 22 million tonnes that occurs predominantly below open-pit limits (see May 31, 2007 news release). The intersection in DON-058 is significant because it extends the high-grade zinc-lead Active Member from DON-044, 160 metres further down-dip; DON-044 intersected 22.30 metres grading 8.94% zinc and 3.10% lead including 3.30 metres grading 24.21% zinc and 10.61% lead (see January 27, 2007 news release),. These new results clearly show that the high-grade underground target at Don Deposit is developing mineral potential similar to the known high-grade underground deposit at XY Central 16 kilometres to the southeast that contains 7,394,860 tonnes of Indicated mineral resources grading 9.88% zinc and 4.32% lead, which is flanked by 1,856,500 tonnes of Inferred mineral resources grading 10.41% zinc and 3.71% lead (see April 2, 2007 news release).



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True
Drill Hole From To Thickness Pb Zn Pb+Zn Thickness
(m) (m) (m) (%) (%) (%) (m)
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DON-056 404.20 426.60 22.40 1.37 4.51 5.88 15.00
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Including 404.20 424.20 20.00 1.43 4.74 6.17 13.40
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Including 416.00 424.20 8.20 2.39 7.39 9.78 5.50
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Including 416.00 423.20 7.20 2.56 7.70 10.26 4.80
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DON-058 321.80 344.40 22.60 1.55 4.75 6.31 11.30
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378.00 383.70 5.70 2.87 6.26 9.12 2.80
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411.60 416.50 4.90 2.36 6.69 9.05 2.40
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420.00 446.90 26.90 2.88 8.55 11.42 13.50
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Including 420.00 431.00 11.00 3.18 10.77 13.96 5.50
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Including 436.70 446.90 10.20 3.63 9.14 12.76 5.10
--------------------------------------------------------------------------


Drill hole DON-056 is located 385 metres southeast from DON-044 and 285 metres from DON-058 (see May 31, 2007 news release). DON-056 also is a 250 down-dip step out from DON-004 and a 260 metre up-dip confirmation from DON-051. The Don Deposit remains open to expansion along strike and at depth for both expansion of the open-pit and high-grade underground mineral potential.

Both DON-056 and DON-058 continue to confirm the continuity of the Active Member in terms of its distribution and overall thickness within the Don Valley. DON-071 is currently being drilled from the same drill pad as DON-058 and DON-062 testing the down-dip extension of DON-044. Note that DON-062 encountered a large fault system that will require additional drilling equipment to successfully pass through the fault. Drilling on DON-062 will recommence when the equipment is available, as it has not reached the target depth.

Don East Deposit Open-Pit Target

Three drills continue to drill on the Don East Deposit that is modeled over an area of at least 1,600 by 600 metres with the potential to host mineral resources of approximately 50 million tonnes of which about 50% is within 200 metres of surface. The target for higher-grade zinc-lead mineralization is focused on an approximate 500 metres of down dip extension of the deposit and represents a mineral potential of approximately 26 million tonnes of higher-grade zinc-lead mineralization in the Active Member.

DON-057 was following up on the highly successful drilling of 2006 and testing continuity between DON-036 and DON-045. The drill hole did intersect two zinc-lead mineralized intervals of Active Member that is located 251 metres southeast of the discovery drill hole DON-036 (see November 30, 2006 news release) and 2,496 metres southeast of DON-058 in the Don Deposit. DON-060 is the down-dip follow-up to DON-055 that intersected 33.90 metres true thickness grading 5.11% zinc and 1.37% lead including 6.25 metres grading 11.39% zinc and 3.10% lead (see May 31, 2007 news release).



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Thick- True
Drill Hole From To ness Pb Zn Pb+Zn Thickness
(m) (m) (m) (%) (%) (%) (m)
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DON-057 75.80 79.20 3.40 1.24 4.10 5.34 3.20
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142.90 157.90 15.00 0.96 4.66 5.62 14.00
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Including 143.40 145.80 2.40 1.61 8.36 9.97 2.20
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Including 152.40 157.90 5.50 1.15 5.95 7.10 5.10
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DON-060 104.80 117.90 13.10 1.09 4.15 5.25 8.40
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Including 107.90 117.90 10.00 1.26 4.93 6.19 6.40
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Including 110.50 117.90 7.40 1.58 5.95 7.53 4.80
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Including 110.50 115.90 5.40 1.43 6.48 7.91 3.50
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DON-054 257.00 278.00 21.00(iii) Assays Pending for Active Member
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DON-061 228.00 239.30 11.30(iii) Assays Pending for Active Member
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DON-063 107.00 173.70 66.70(iii) Assays Pending for Active Member
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DON-064 7.60 22.90 15.30(iii) Assays Pending for Active Member
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DON-065 123.80 141.70 17.90(iii) Assays Pending for Active Member
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DON-069 248.40 280.40 32.00(iii) Assays Pending for Active Member
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(iii) denotes apparent thickness with true thickness reported upon receipt
and processing of assay results


The most recent drill intersections of zinc-lead mineralized Active Member in the Don East Deposit such as in DON-054 and DON-069, continues to expand the mineral potential in a northwesterly direction by 270 metres from the extents defined in the 2006 definition drilling. All of the drill intercepts are within the shallow open pit environment that remains open for expansion in all directions. It should be noted that there remains a 1.7 kilometre section of the Don Valley between the Don and Don East Deposits that has yet to be tested by drilling.

Assay sample from drill holes DON-054, DON-061, DON-063, DON-064, DON-065, and DON-069 will be released pending full QAQC procedures in the near future after each drill hole is received from the laboratory. DON-068, DON-070, and DON-072 are currently being drilled on the Don Deposit.

As drilling continues in the Don Valley, each drill hole reinforces the strong continuity of the open-pit targets indicates excellent opportunity for expansion of potential mineral resources. Deep drilling will commence on the HC West deposit in the coming weeks. The HC West Deposit is located approximately 2,200 meters southwest of Don East Deposit and represents the southeast portion of the 4,200 metre trend of higher-grade mineralization currently being explored.

The Selwyn Project exploration program is being reviewed by Vice President Exploration, Mr. Jason Dunning, M.Sc., P.Geo. The onsite activities for the Selwyn Project are directed by Exploration Manager, John J. O'Donnell, P.Geo. Both Mr. Dunning and Mr. O'Donnell are Qualified Persons within the meaning of National Instrument 43-101. All assay data has been through internal validation of quality assurance and quality control. Selwyn has established a sampling and assay control program with blind insertion of assay blanks, standards and duplicates for the Selwyn Project; however, it should be noted that there is also a quality control and quality assurance program in at ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, duplicates and standards. At ACME, silver and base metal analyses are conducted by a 17-element, four-acid digestion, ore-grade ICP-AES technique.

Note that all discussion of previous NI-43-101 compliant Indicated and Inferred mineral resources are referenced in the March 2007 NI 43-101 report for the Selwyn Project. In reviewing historical resources, all discussion of Indicated mineral resources that predate introduction of NI 43-101 should be considered as Inferred mineral resources. All historical Inferred mineral resources that predate NI 43-101 should be considered as areas of mineral potential requiring further definition through drilling. Historical mineral resources are referenced in the June 2005 NI 43-101 report for Howard's Pass. Copies of the reports can be viewed at www.sedar.com. Any areas discussed as possessing mineral potential are not defined through drilling and are conceptual based upon a detailed geological model. Further definition drilling is required prior to discussing potential mineral resources as an accepted NI 43-101 mineral resource classification.

Selwyn's main focus is the exploration of its properties that compose the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for the large scale production of zinc and lead, at a time when World zinc mine supply is in deficit and there are few new mines under development. As follow-up to the highly successful 2006 exploration program, Selwyn Resources Ltd. is planning a $25 million exploration program in 2007 to continue definition drilling of the XY, Anniv, and Don Valley (HC, HC West, Don East, and Don) deposits.

This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of the new discovery areas and expansions of the current resource areas and the extension of the higher grade deep mineralization to depth.. Furthermore, there is no assurance that the resources being defined can be developed as an economically attractive mine, and there are many uncertainties associated with permitting and other factors that could delay such development.



Appendix

Table 1: Completed Drill Holes to date on Selwyn Project

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Active
Member
Width
Target UTM UTM Elev. EOH (iii) Start End
Hole ID Name Easting Northing (m) (m) (m) (m) (m)
--------------------------------------------------------------------------
DON-051 U/G 478002 6934438 1,150.00 696.80 32.50 643.20 675.70
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DON-052 Open Pit 479110 6932696 1,247.00 251.50 Fault, no
significant results
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DON-053 Open Pit 478923 6933121 1,180.75 244.40 0.70 79.80 80.50
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DON-054 Open Pit 479210 6933298 1,161.00 305.41 21.00 257.00 278.00
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DON-055 Open Pit 478923 6933121 1,180.75 398.70 80.30 38.30 118.60
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DON-056 U/G 478002 6934438 1,150.00 544.42 30.50 405.50 436.00
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DON-057 Open Pit 479635 6932669 1,187.00 186.54 18.60 150.00 168.60
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DON-058 U/G 477808 6934580 1,138.00 483.40 22.60 321.80 344.40
--------------------------------------------------------------------------
13.50 381.70 395.20
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35.10 411.50 446.60
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DON-059 Open Pit 479444 6932563 1,247.00 297.18 Fault, no
significant results
--------------------------------------------------------------------------
DON-060 Open Pit 479066 6933204 1,167.00 147.80 15.30 102.10 117.40
--------------------------------------------------------------------------
DON-061 Open Pit 479506 6933086 1,161.00 251.16 11.30 228.00 239.30
--------------------------------------------------------------------------
DON-062 U/G 477808 6934580 1,138.00 620.88 Hole Pending
Completion
--------------------------------------------------------------------------
DON-063 Open Pit 479079 6933054 1,179.57 207.30 66.70 107.00 173.70
--------------------------------------------------------------------------
DON-064 Open Pit 479761 6932717 1,164.00 117.35 15.30 7.60 22.90
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DON-065 Open Pit 479341 6933190 1,163.00 172.21 17.90 123.80 141.70
--------------------------------------------------------------------------
DON-066 Open Pit 479623 6932975 1,160.00 227.08 Fault, no
significant results
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DON-067 Open Pit 479477 6933226 1,160.00 74.37 Fault, no
significant results
--------------------------------------------------------------------------
DON-069 Open Pit 479099 6933507 1,140.00 303.28 32.00 248.40 280.40
--------------------------------------------------------------------------

(iii) Note all intersections are of apparent width


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Selwyn Resources Ltd.
    Dr. Harlan Meade
    President and CEO
    (604) 682-5474 or Toll Free: 1-877-682-5474
    or International Toll Free: 1-800-8682-5474
    or
    Selwyn Resources Ltd.
    Jasmin TamDoo
    Manager of Investor Communications
    (604) 682-5474 or Toll Free: 1-877-682-5474
    (604) 682-5404 (FAX)
    Email: info@selwynresources.com
    Website: www.selwynresources.com