Green Swan Continues With Acquisition Strategy in British
Green Swan Continues With Acquisition Strategy in British Columbia and Commences Work at Mikayla
BURLINGTON, ONTARIO -- (Marketwire) -- 11/07/12 -- Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW) today announced it has purchased, subject to regulatory approval, an additional three mineral tenures (the "Adjacent Tenures") in southeast British Columbia, contiguous to Mikayla, one of Green Swan's current tenures. Green Swan also announces that it intends to immediately begin an exploration program on Mikayla and the Adjacent Tenures.
Green Swan's current 519 hectare Mikayla property is located in the Okanagan Valley, roughly 15 km south of Xstrata Canada's Brenda Mine. The Adjacent Tenures cover 625 hectares and are to the east of Mikayla. On the closing of this transaction Mikayla (including the current portion and the Adjacent Tenures) will cover a total of 1144 hectares.
The Brenda Mine, to the north of Mikayla, was a low grade open pit in production from 1970 to 1990, when it produced 278,000 tonnes of copper, 66,000 tonnes of molybdenum in concentrate form, 125 tonnes of silver and 2 tonnes of gold (see www.brendamines.ca).
Further, Mikayla is proximate to the Crowrea and Empress properties (Nevada Clean Magnesium Inc. / Goldrea Resources Corp. joint venture). Both are molybdenum properties. (www.nevadacmi.com ).
The Transaction and Exploration Work
Green Swan has purchased a 100% interest in the Adjacent Tenures in consideration of the issuance of 50,000 shares (at an agreed price of $0.10 per share), and $5,000 cash.
Green Swan intends to immediately begin exploration on Mikayla, including the Adjacent Tenures, commencing with an airborne survey.
About Green Swan Capital Corp.
Green Swan is engaged in the exploration and, if warranted, development and mining of its properties as well as the acquisition, exploration and potential development of other mineral resource properties. The common shares of Green Swan are listed on the TSX Venture Exchange under the trading symbol "GSW". Upon closing of the transactions contemplated above, GSW will have roughly 19,700,000 shares outstanding.
This news release may include statements about expected future events and/or financial results that are forw ard-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.
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.
Contacts: Green Swan Capital Corp. Peter M. Clausi 416 890 1232 firstname.lastname@example.org