Swift Power Corp.
TSX VENTURE : SPC

Swift Power Corp.
Kitselas First Nation

March 17, 2009 19:27 ET

Swift Power Corp. Signs MOU With Kitselas First Nation Regarding Dasque Cluster Hydroelectric Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Swift Power Corp. (TSX VENTURE:SPC) is pleased to announce that it has signed a memorandum of understanding (MOU) with the Kitselas First Nation regarding Swift Power's proposed Dasque Cluster Hydroelectric Project near Terrace, BC. The Dasque Cluster is a proposed 20 MW run of river project located on lands within the traditional territory of the Kitselas First Nation. Under the terms of the MOU, Swift Power agrees to engage Kitselas in consultations regarding all phases of the proposed Project, and will establish a working group to oversee the implementation of the MOU and to promote and enhance communication. This relationship is based on fundamental principles of cooperation, collaboration, trust, good faith, mutual respect and mutual benefit.

Kitselas Director of Natural Resources, Wilfred McKenzie said, "Our agreement with Swift Power is an excellent example of Kitselas' approach to development in our traditional territory. Through the agreement, we will participate in a process with Swift Power to ensure that the project proceeds in a responsible manner and that it will deliver benefits to the Kitselas community."

After the signing the MOU, Swift Power President and CEO, Alexi Zawadzki said, "I am very pleased that we have the opportunity to work with the Kitselas First Nation on the proposed Dasque Cluster Project. The Kitselas have a strong background in natural resources management and development, and bring skills required to collect, analyse and interpret traditional and environmental information that is required for the completion of our permitting applications. This is of immediate benefit. As the Dasque Cluster Project proceeds, I would like to see this relationship strengthen to the benefit of both parties."

Swift Power is a Vancouver BC-based development-stage, independent, run-of-river hydroelectric power company. Swift Power's business is to develop renewable power projects in BC and potentially in other provinces of Canada and internationally. Swift Power has rights to nine water licence applications filed with the British Columbia government regarding several sites on various creeks in BC. Additional information about Swift Power is on its website at www.swiftpower.ca.

Caution concerning forward-looking statements:

Certain statements contained in this document may constitute "forward-looking statements". When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "investigate", "looking at" as they relate to Swift Power or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable, that: (i) Swift Power will successfully develop renewable power projects in BC or elsewhere; and (ii) Swift Power will complete the Dasque Cluster Project.

Such statements or information reflect Swift Power's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Swift Power's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Swift Power files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Swift Power expressly disclaims any intention or obligation to update or revise any forward looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

Management of Swift Power Corp. prepared this news release and takes full responsibility for its contents.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Swift Power Corp.
    Alexi Zawadzki
    President and CEO
    (604) 637-6393
    Email: green@swiftpower.ca
    or
    Kitselas First Nation
    Wilfred McKenzie
    Director of Natural Resources
    (250) 636-8882, local 238