Selwyn Resources Announces Flow-Through Share Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Selwyn Resources Ltd. (TSX VENTURE:SWN) has entered into an agreement to sell $513,000 of flow-through common shares ("Flow-Through Shares") to one subscriber at a price of $0.19 per Flow-Through Share (the "Offering"). A finder's fee of 6% of the gross proceeds of the Offering will be paid to Industrial Alliance Securities Inc. ("Industrial Alliance"). Selwyn has terminated its agreement with Industrial Alliance in respect of the previously announced best efforts brokered private placement of up to $4 million of Flow-Through Shares. The Offering is scheduled to close on or about February 21, 2012 and is subject to acceptance by the TSX Venture Exchange.

The Flow-Through Shares sold will be subject to a 4 month hold period. Proceeds of the Offering will be used by the Company to incur exploration expenditures on the Company's ScoZinc properties in the province of Nova Scotia.

The Company

Selwyn's primary focus remains the exploration and development of the properties that make up the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong Mining Canada Mining Ltd. The Selwyn Project hosts large tonnages of zinc-lead mineralization which have the potential for large-scale production, and could provide a secure supply of zinc and lead to meet the future needs of these markets in Asia and beyond. The ScoZinc Mine owned by Selwyn's wholly owned subsidiary, ScoZinc Limited, provides Selwyn with a second opportunity for growth and production revenues in the near term. The re-development of the ScoZinc Mine will enhance the company's capacity to develop the Selwyn Project.

Forward looking Statements

This press release contains forward-looking statements concerning the Offering and the advancement of the Selwyn Project and the ScoZinc Mine. These forward- looking statements, which include, among other things, the proposed closing date for the Offering, are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of market conditions for securities, commodities, the results of exploration activities and engineering studies, the availability of capital on terms acceptable to Selwyn, regulatory approval, and other risk factors beyond Selwyn's control. As a result, there is no assurance that the Offering will be completed or that the Selwyn Project or the ScoZinc Mine will be advanced to production or that timelines for development of the Selwyn Project and the ScoZinc Mine will be achieved.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. All dollars in this release are in Canadian funds.