Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

August 21, 2007 12:15 ET

Selwyn Resources Announces Don Deposit Continues to Yield Higher-Grade Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2007) - Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to provide an update on recent drilling activities for the Selwyn Project. The results from the Don Valley continue to expand the high-grade zinc-lead mineral potential at depth in Don Valley. The initial drilling in Don Valley is focusing on the 8,000 metre length of Active Member between the Don and HC Deposits. This year, 55 drill holes have been completed or are in progress in the Don Valley for a total of 19,849.5 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-091 intersecting 27.80 metres true thickness of the Active Member at a depth of 128.2 metres grading 7.00% zinc and 1.79% lead including 11.6 metres grading 10.27% zinc and 2.25% lead.

- DON-096 intersecting 6.30 metres true thickness grading 10.71% zinc and 6.42% lead including 2.50 metres grading 22.41% zinc and 13.11% lead.

Don Deposit Drilling

Recent assay results from infill drill holes DON-071, DON-078, DON-091, and DON-096 continue to confirm the potential for higher-grade mineralization in the Don deposit, as exemplified recently in drill hole DON-074 (see July 10, 2007 news release). DON-074 yielded the single highest assay of combined zinc-lead mineralized Active Member for the entire Selwyn Project including a 1.30 metre sample from 271.80 to 273.10 metres yielded 46.78% zinc and 17.94% lead; for an aggregate 64.72% combined zinc-lead. The mineral potential of the Don deposit remains open for expansion.



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From To Thickness Pb Zn Pb+Zn True Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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DON-071 397.40 424.30 26.90 1.26 4.46 5.72 19.70
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Including 397.40 415.80 18.40 1.53 5.60 7.14 13.50
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Including 397.50 400.30 2.80 1.47 9.97 11.44 2.10
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Including 410.00 415.80 5.80 3.15 9.12 12.26 4.20
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DON-078 206.20 218.90 12.70 3.14 8.30 11.43 11.70
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Including 209.50 218.20 8.70 3.75 9.31 13.07 8.00
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Including 211.40 218.20 6.80 3.95 10.10 14.05 6.30
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Including 215.50 218.20 2.70 7.05 15.01 22.06 2.50
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DON-091 128.20 193.90 65.70 1.79 7.00 8.79 27.80
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Including 129.60 132.50 2.90 6.05 15.17 21.22 1.20
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Including 144.60 172.1 27.50 2.25 10.27 12.52 11.60
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Including 154.10 170.60 16.50 2.37 12.85 15.22 7.00
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DON-096 21.90 36.90 15.00 6.42 10.71 17.13 6.30
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Including 23.40 29.40 6.00 13.11 22.41 35.52 2.50
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Drilling in the Don deposit continues to target an area of 900 by 700 by 6 metres predominantly below open-pit limits known to contain high-grade zinc lead mineralized Active Member. The target area is modeled to potentially contain 10 to 12 million tonnes with a range of grades varying from 7.4% to more than 20% combined lead and zinc. The potential grade and tonnage of the target is conceptual in nature as there has been insufficient drilling to define a mineral resource.

DON-078 intersected zinc-lead mineralized Active Member 80 metres up-dip from DON-074; noting that DON-078 is also 50 and 150 metres down-dip from both DON-091 and DON-096 respectively. Currently one drill is continuing infill drilling of the Don deposit in order to increase the confidence of the known mineral resources.

Don East Deposit

One drill is continuing to infill drill the Don East deposit and another drill is infill drilling the HC West deposit in order to close the 1.0 kilometre gap with the HC West deposit. Another drill has been moved to the HC deposit; that will work towards closing the 1.4 kilometre gap between the HC West and HC deposits.

DON-065, DON-068, DON-069, and DON-070 were all successful in confirming the continuity of the zinc-lead mineralized Active Member through the Don East deposit. These most recent drill intersections of zinc-lead mineralized Active Member in the Don East deposit continue to expand the mineral potential in a northwesterly direction adding 900 metres from the extents defined in the 2006 definition drilling, as well as increasing confidence in the known mineral inventory. All of the drill intercepts except for DON-070 are within the open-pit environment; however, DON-070 shows that zinc-lead mineralized Active Member is now continuing at depth below the open-pit environment as an underground target area. The drilling has also now successfully intersected zinc-lead mineralized Active Member and closed the gap between the Don and Don East deposits, although 850 metres has yet to be tested by drilling.



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From To Thickness Pb Zn Pb+Zn True Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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DON-065 123.70 139.80 16.10 1.70 6.47 8.17 11.38
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Including 130.10 138.70 8.60 2.24 8.79 11.03 6.10
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DON-068 196.90 217.00 20.10 1.25 4.36 5.61 13.20
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Including 196.90 201.90 5.00 1.31 5.58 6.89 3.30
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Including 212.50 217.00 4.50 2.29 7.06 9.35 3.00
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DON-069 249.10 251.70 2.60 0.97 3.83 4.80 2.10
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269.70 279.10 9.40 1.43 4.77 6.20 7.70
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Including 274.00 279.10 5.10 1.85 5.64 7.49 4.20
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DON-070 305.80 318.00 12.20 1.92 6.07 8.00 7.20
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Zinc-lead mineralization of the Active Member in the Don East deposit is modeled to contain 35 to 55 million tonnes within an area of approximately 1,600 by 600 by 15 metres with grades ranging from 4.8 to more than 12.0% combined lead and zinc. Similar as to above, the potential resource is conceptual in nature and additional drilling is required to define the mineral resource.

Other

Two drills capable of targeting the full depth extent of the underground target at XY Central deposit are now active, along with one drill within the open-pit area completing the upgrading of mineral resource categories. To date, the XY Central deposit has seen 2,426.3 metres of drilling in 8 drill holes with an additional 3 drill holes in-progress. Results from these drill holes will be discussed in a future news release when assay data has passed through Selwyn's rigorous quality assurance and quality control program.

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.

Selwyn's focus is the exploration of its properties that make up 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 major new mines are needed to ensure adequate future zinc mine supply.

As follow-up to the highly successful 2006 exploration program, Selwyn Resources Ltd. is undertaking 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. Recent drilling has been focused on defining the continuity of higher grade mineralization in the XY and Don Valley areas, and evaluating the potential for significant tonnages of higher grade resources to support addition of underground mining to the development plan.

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.

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
    International Toll Free: 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