VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/24/11 -- Selwyn Resources Ltd. ('Selwyn) (TSX VENTURE: SWN) is pleased to announce that it has expanded its management team with the addition of Stephen Rea as Vice President Corporate Development and Wolfgang Schleiss as Manager Exploration.
Dr. Harlan Meade, Selwyn's President and CEO said, 'The addition of Stephen Rea is another important step in growing Selwyn's management team, preparing for the transition to production status with re-start of the ScoZinc mine operations and preparation for project financing and development of the Selwyn Project. Wolfgang Schleiss brings a wealth of exploration and project evaluation experience to Selwyn which will benefit its core projects. I welcome Stephen and Wolfgang to the team.'
Mr. Rea, as Vice President Corporate Development, is responsible for all aspects of corporate and business development for Selwyn with a near term key role in overseeing business aspects of the acquisition and re-start of ScoZinc's mining operations and providing support to the Selwyn Project being advanced by Selwyn Chihong Mining Ltd.
Mr. Rea holds an MBA from the Kellogg School of Management (Northwestern University) and the Schulich School of Business (York University) and brings to Selwyn broad investment banking and mergers and acquisitions transaction experience in North America and China. Most recently Mr. Rea worked with Northland Capital Partners as Vice President, Investment Banking in the Asian banking group. His experience and relationships with financial and strategic investment enterprises in Canada, US and China will broaden Selwyn's business experience and assist project financing for both ScoZinc and Selwyn projects.
Mr. Schleiss, P.Geo., will as Manager Exploration, be responsible for management of all of Selwyn's exploration activities; focussing on the Selwyn Project where he will provide services to Selwyn Chihong Mining Ltd. Mr. Schleiss will be based in the Company's Vancouver office, and will report to Selwyn's Vice President Exploration, Jason Dunning, P.Geo.
Mr. Schleiss has over 25 years experience in both exploration and mining with a graduate degree from Michigan Technological University in 1986, and an undergraduate degree from the University of Wisconsin-Milwaukee in 1981. He has previously managed precious and base metal exploration programs throughout North America, Europe and Russia for companies such as Tamerlane Ventures, Phelps Dodge, Unimin Corporation, and Battle Mountain Gold.
Pursuant to the Company's Stock Option Plan, Mr. Rea and Mr. Schleiss have been granted incentive stock options to acquire 1,400,000 and 450,000 common shares of the Company, respectively.
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 recently announced acquisition of the assets of ScoZinc Limited, provide Selwyn with a second opportunity for growth and the potential for production revenues in 2012.
This press release contains forward-looking statements concerning the advancement of the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of market conditions, engineering assumptions, and other risk factors beyond Selwyn's control. As a result, there is no assurance that Selwyn Project will be advanced to production or that timelines for development will be achieved.
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.
Contacts:
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
