Swift Resources Inc.

Swift Resources Inc.

December 21, 2010 15:20 ET

Swift Announces Increase to Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2010) - Swift Resources Inc. (the "Company") (TSX VENTURE:SWR) announces that, further to the Company's news releases dated November 1 and November 25, 2010, the non-brokered private placement will consist of up to 4,000,000 non-flow-through units ("NFT Units") at a price of $0.10 per NFT Unit for gross proceeds of $400,000. Each NFT Unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.15 for a period of 24 months from the date of issue of the warrant.

In addition, the Company announces an increase to the non-brokered private placement of flow-through common shares to up to 7,250,000 flow-through common shares at a price of $0.12 per flow-through common share for gross proceeds of $870,000.

All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the "TSXV") and a finder's fee may be payable in accordance with the policies of the TSXV.

Proceeds from the flow-through private placement will be used towards the 2011 exploration program on the Company's Castlegar Properties and the remaining proceeds will be used towards general working capital.

About the Company

Swift Resources is a mineral exploration company advancing the Castlegar Gold Project in south-western British Columbia. For additional information about the Company visit our website at www.swiftres.com


Mike Elson, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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