VANCOUVER, BRITISH COLUMBIA -- (
Marketwire) -- 03/26/12 --
Selwyn Resources Ltd. (TSX VENTURE: SWN) ("Selwyn" or the "Company") today announced that it has retained Cutfield Freeman & Co. Ltd. ("CF&Co"), a global specialist mining corporate finance firm, to act as its financial advisor as it prepares to move to the next phase of the development of the Selwyn Project, the Company's flagship asset held in a joint venture between Selwyn and Chihong Canada Mining Ltd. ("Chihong"). Chihong is a wholly owned subsidiary of Yunnan Chihong Zinc & Germanium Co. Ltd. of China.
CF&Co will assist Selwyn in evaluating its financing and strategic options in relation to the Selwyn Project. As part of the mandate, CF&Co will consider all financing alternatives including debt, equity and other financial instruments, as well as concentrate offtake-related finance, partnership arrangements and the Company's corporate options. This review is designed to assist Selwyn as it assesses its options and responsibilities in the execution of the joint venture agreement with Chihong.
"We are pleased to be moving into this new stage of the Selwyn Project," said Dr. Harlan Meade, Selwyn's CEO. "The appointment of CF&Co adds to our already experienced team and allows us to review and assess a wide range of options as we move forward together with Chihong in the development of the Selwyn Project."
About Selwyn Resources Ltd.
Selwyn's main focus remains the exploration and development of the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong Canada Mining Ltd. The Selwyn Project has the potential for large-scale production and to provide a secure supply of zinc and lead to meet the future needs of these markets in Asia and beyond. Selwyn's Scotia Mine project provides the Company with a second opportunity for growth and cash flow for advancing the Selwyn Project.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements concerning Selwyn's future raising of debt and equity financing for the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future financing that may prove to be inaccurate due to factors beyond Selwyn's control, including the satisfaction of any debt or equity facility for the Selwyn Project. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results that differ from those anticipated or intended. There is no assurance that such information will prove to be accurate, as future events could differ materially from those anticipated. Accordingly, Selwyn has engaged financial advisors to assist in the financial matters of the Company as it advances its projects. Readers should not place undue reliance on forward-looking statements.
Neither 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.
Contact Information
Selwyn Resources Ltd.
Dr. Harlan Meade
President and CEO
+1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
Selwyn Resources Ltd.
Catalin Chiloflischi
Manager of Investor Communications
+1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
+1 (604) 689-8355 (FAX)
info@selwynresources.com
www.selwynresources.com
