VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/11 -- The Board of Directors of Selwyn Resources Ltd. (TSX VENTURE: SWN) ('Company') has authorized the issuance of stock options to officers and employees to purchase 5,300,000 common shares. The options are vested over two years: with one-third vested on issue and the remaining thirds on each of the first and second anniversaries of the date of grant. These options have a five year term and allow the holder to purchase one common share of the Company for $0.25 per share until November 08, 2016.
Selwyn's primary focus is the exploration and development of its properties that make up the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits at Selwyn Project have the potential for large scale production, and to provide a secure supply of zinc and lead to meet the future needs of the zinc and lead markets in Asia. The acquisition of ScoZinc Limited provides Selwyn with a near term opportunity for growth and production revenues in 2012. The re-development of the ScoZinc Mine is viewed as a stepping stone for advancement of the Selwyn Project.
This news release contains forward-looking statements concerning the development of the Selwyn Project. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond Selwyn's control. There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
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 release.
Contacts:
Selwyn Resources Ltd.
Dr. Harlan Meade
President and CEO
(604) 801-7240 or Toll-free: 1-888-989-9188
Selwyn Resources Ltd.
Catalin Chiloflischi
Manager of Investor Communications
(604) 801-7240 or Toll-free: 1-888-989-9188
(604) 689-8355 (FAX)
info@selwynresources.com
www.selwynresources.com
