Southwestern Resources Corp.
TSX : SWG

Southwestern Resources Corp.
Hochschild Mining plc
LSE : HOC

Hochschild Mining plc

May 21, 2009 13:18 ET

Southwestern Resources Corp. and Hochschild Mining Plc Joint News Release: Plan of Arrangement to Close Today

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) - Southwestern Resources Corp. (TSX:SWG) ("Southwestern" or the "Company") and Hochschild Mining plc ("Hochschild") (LSE:HOC) are pleased to announce that, based on discussions and actions that have taken place since the Company's press release of yesterday's date, Hochschild will close the transaction contemplated under the Arrangement Agreement between the Company and Hochschild dated March 23, 2009. Accordingly, the parties anticipate that the transaction will close today.

About Southwestern

Southwestern is a Vancouver-based mineral exploration company engaged in the identification, acquisition, evaluation and exploration of gold, silver and base metals mineral properties. Southwestern is a reporting issuer in British Columbia, Alberta, Manitoba, and Ontario and trades on the Toronto Stock Exchange under the symbol SWG.

About Hochschild

Hochschild is a leading precious metals company listed on the London Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild currently operates five underground epithermal vein mines, four located in southern Peru and one in southern Argentina and one open pit mine in northern Mexico. Hochschild has over sixteen long-term prospects throughout the Americas. Hochschild has over forty years experience in the mining of precious metal epithermal vein deposits. For further information please visit www.hochschildmining.com.

Forward-looking Statements

Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements due to a number of factors, including but not limited to, the Company's access to additional capital to fund future activities, the loss of mineral properties or the inability to obtain mining licenses, the inherently risky nature of the Company's activities, the inherent uncertainty of litigation, the political stability and economic uncertainty of those areas in which the Company carries on operations and the lack of infrastructure in those areas, title risks, the risks and uncertainties associated with joint ventures and the Company's reliance on third parties, statutory and regulatory compliance and the adequacy and availability of insurance coverage. These risks, as well as others, could cause actual results and events to vary significantly. The Company expressly disclaims any intent or obligation to update these forward-looking statements.

Contact Information

  • Southwestern Resources Corp.
    David Black
    Chairman
    (604) 669-2525
    or
    Hochschild Mining plc
    Miguel Aramburu
    Chief Executive Officer
    +44 (0) 207 907 2930
    www.hochschildmining.com