Selwyn Grants Stock Options to New Officer
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/20/11 -- The Board of Directors of Selwyn Resources Ltd. (TSX VENTURE: SWN) ('Company') has authorized the issuance of stock options to Mr. Joseph P. Ringwald, who became Vice President of Mining on January 1, 2010, to purchase 1,400,000 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. The options have a five year term and allow the holder to purchase one common share of the Company for $0.25 per share until January 20, 2016.
Selwyn's focus is the exploration and development of the Selwyn Project in eastern Yukon and Northwest Territories with its joint venture partner Yunnan Chihong Zinc and Germanium Co., Ltd. The Selwyn Project represents one of the largest undeveloped resources of zinc and lead in the world and is unique in its location in the politically-attractive and stable jurisdiction of the Yukon. It is therefore both a unique opportunity and a strategic asset providing a long term secure supply of zinc and lead to the Pacific Margin.
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 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