Selwyn Resources Ltd.: Drilling in Don Connector Confirms Thick Zinc-Lead Mineralized Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn" or the "Company") is pleased to update investors on the completion of geological core logging of the fourteen exploration drill holes in the Don Connector target between the Don and Don East deposits at Selwyn Project, Yukon Territory. All fourteen drill holes were focused on this high priority exploration target in order to confirm the direct linkage between two adjacent deposits, thereby providing opportunities for future engineering studies while Selwyn advances the feasibility study.

Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Mining Ltd., commenced drilling in November after reviewing drilling on the Don deposit (see August 15, 2011 news release). Dr. Harlan Meade, Selwyn's President and CEO, said of the results: "The confirmation of thick intercepts of zinc-lead mineralization in the Don Connector target adjacent to the Don deposit demonstrates the strong continuity of high-grade mineralization in the Don Valley and opens up opportunities for the joint venture."

A total of 10,638.50 metres were successfully completed in fourteen drill holes, resulting in the positive identification of zinc-lead mineralization over an area of approximately 600 metres by 225 metres, with a range in thickness from approximately 15 to more than 70 metres. Upon receipt of all assay results from the definition drilling program, and all samples having passed quality assurance and quality control, the data will form the basis for revised mineral resource estimates of the Don deposit. Investors are cautioned that at this time it is not known if there has been enough drilling to result in a mineral resource estimate to NI 43-101 standards or if additional drilling is warranted in this area of high mineral potential.

The new drilling data confirms the direct linkage between the 63 lens of the Don deposit and the Don Connector target. Geological interpretation from the drilling also supports the shallowing of the dip of 63 lens at an elevation similar to zinc-lead mineralization in the adjacent Don East deposit. The apparent thickening of zinc-lead mineralization, which renders this target attractive for exploration and development, is an apparent result of the shallowing of the 63 lens (see August 15, 2011, news release).

Results from the exploration drilling program also reinforce the detailed 3D geological and structural models for the Don and Don East deposits. The location of the new drill holes and lenses can be found on drill plan maps available at www.selwynresources.com.

The Selwyn Project exploration program is being reviewed by Vice President, Exploration, Mr. Jason Dunning, M.Sc., P.Geo, who is also responsible for onsite activities for the Selwyn Project. Mr. Dunning is a Qualified Person 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. A quality control and quality assurance program is in place at ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, standards, and duplicates. At ACME, silver and base metal analyses are conducted by a 23-element, four-acid digestion, ore-grade ICP-AES technique.

Selwyn's focus is the exploration and development of its properties that make up the Selwyn Project in the Yukon Territory, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production, and the potential to provide a secure supply of zinc and lead to meet the future needs of the markets in Asia and beyond. The acquisition of the assets of ScoZinc Limited provides Selwyn with a second opportunity for growth and the potential for production revenues.

This press release contains forward-looking statements concerning mineralization at the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of geological variability and other risk factors beyond Selwyn's control. As a result, actual results may differ materially from expected results. Additional drilling is required to confirm the potential of the new discovery areas, the expansions of the current resource areas, and the extension of the higher grade deep mineralization to depth. There is no assurance that such additional drilling will expand mineral resources or that the resources being defined can be developed as an economically attractive mine. Many uncertainties associated with permitting and other factors could delay such development.