News Release
Selwyn Provides Update on Liard First Nation�s
Legal Action
Vancouver, BC, November 25, 2010 � Selwyn Resources Ltd. (SWN.TSX-V)
(Company) informs investors that Selwyn Chihong,
the Company�s 50% joint venture company, formed to advance the Selwyn
Project to feasibility study and production, has, together with the Yukon
Government and certain government officials and departments, been named
as respondents in a court action taken by Liard First Nation (LFN). LFN
is seeking cancellation of an amendment to the Mining Land Use Permit
that was issued to Selwyn by the Yukon Government�s Energy Mines and Resources.
The permit amendment provides Selwyn Chihong
certain of the approvals necessary to undertake a proposed underground
exploration and development project.
On
November 16, 2010, Liard First Nation petitioned the Supreme Court of the
Yukon to withdraw the Decision Document that was issued in respect of the
project proposal submitted to Yukon Enivronment
and Socioeconomic Assessment Board (YESAB) on the grounds that its
concerns outlined in a technical report that it had submitted to YESAB
were not adequately considered. Liard First Nation engaged independent
advisors to review Selwyn�s project proposal and submitted comments in
the form of two Technical Reports to YESAB and Energy Mines and
Resources. The amendment to Selwyn Chihong�s
Mining Land Use Permit was released after the submission of the second
technical report.
Selwyn
Chihong is named as a respondent in the court
petition along with the Minister of Energy Mines and Resources, Yukon
Government and Robert Holmes the Director of Mineral Resources. Selwyn Chihong has no reason to believe that any of the
respondents have failed to follow due process in this matter and Selwyn Chihong plans to file its response to the action in a
timely matter. At the time of this release, Selwyn Chihong
has not been served with documents relating to the action.
Selwyn
Chihong has not undertaken any site work for
the proposed work related to the Amended Mining Land Use Permit and is
awaiting its Type B Water Licence from the
Yukon Water Board before commencing such work. Current site work,
consisting primarily of diamond drilling related to the upgrading of
mineral resources, is not affected by this action.
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.
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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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