Selwyn Announces Change of Auditors
Vancouver, BC, December 23, 2010 � Selwyn Resources Ltd. (SWN TSX-V)
(�Selwyn�) announces a change of auditors to KPMG LLP from De Visser Gray LLP effective December 15, 2010. The
decision to change auditors arose from a recent strategic initiative
whereby Selwyn entered into a joint venture with a wholly owned
subsidiary of Chihong Zinc and Germanium Co.
Ltd., a Chinese company (see news release dated August 18, 2010). As a
result of this transaction, Selwyn's Board of Directors considered it
desirable to engage an international firm of auditors.
The
decision to change auditors was therefore not the result of any
disagreement between Selwyn and De Visser Gray
LLP on any accounting principles or practices, financial statements
disclosure or any other auditing matter. Selwyn also confirms that there
have been no reportable events as defined in National Instrument 51-102
Continuous Disclosure Obligations and in its opinion there are no
reportable events pending. Selwyn has filed the required Notice of Change
of Auditor reporting package in accordance with National Instrument
51-102.
The
Board of Directors expresses its gratitude to De Visser
Gray LLP for the professional services provided during their term as
auditors of Selwyn.
Selwyn�s
focus is the exploration and development of the Selwyn Project in the
eastern Yukon and Northwest Territories with its joint venture partner Chihong Canada Mining Ltd. The Selwyn Project
represents one of the largest undeveloped resources of zinc and lead in
the world and is unique in that it is mostly located in the politically
attractive and stable jurisdiction of the Yukon Territory. 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 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 results 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.
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For more information contact:
Dr.
Harlan Meade, President and CEO
Catalin Chiloflischi,
Manager of Investor Communications
Telephone: (604) 801-7240
Toll-free: 1-888-989-9188
Facsimile: (604) 689-8355
info@selwynresources.com
www.selwynresources.com
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.
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