Selwyn Commences Winter Mobilization of Mining Equipment
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/16/11 -- Selwyn Resources Ltd. ('Selwyn') (TSX VENTURE: SWN) is pleased to announce the mobilization of mining equipment and supplies integral to the Selwyn Project Joint Venture's proposed underground advanced exploration program. The first loads are now in the XY camp. A winter road has been established along the all-season access road (see June 19, 2008 news release) from Selwyn Project to the Nahanni Range Road, intersecting at kilometer 188. The Nahanni Range Road is part of the Yukon highway system and connects to the Robert Campbell Highway.
Selwyn Chihong Mining Ltd. ('Selwyn Chihong') and its contractors anticipate the hauling of mining equipment and supplies to continue along the winter road until the end of March 2011. Selwyn Chihong selected Mackay Range Development Corporation ('MRDC'), a Sahtu First Nations enterprise from Tulita, Northwest Territories, as its general contractor for managing and overseeing winter road activities. MRDC has engaged Arctic Construction Limited of Fort St. John, British Columbia, to open up the winter road, establish ice bridges, and provide logistical support for trucking activities. Selwyn has contracted Roktek Service Inc of Prince George, British Columbia, to assist in the procurement and staging of all mining equipment and bulk mining supplies. The proposed underground advanced exploration program is expected to commence mid-summer 2011, when both the underground portal and environmental support facilities are completed.
The all-season access road was constructed between 1976 and 1980 and was utilized by the previous operators until the mid-1990s. The issuance of the land-use permit and water licence (see June 19, 2008 news release) allows Selwyn Chihong to undertake the necessary rehabilitation of the existing road surfaces and refurbishment of bridges and culverts to meet current environmental standards, thereby establishing all-season access to the Selwyn Project.
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 proposed 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 and of the acquisition of the assets of ScoZinc. 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 or that the acquisition of the assets of ScoZinc will be completed.
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