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Material Change: Sale of Selwyn Joint Venture Interest

On June 3, 2013, Selwyn Resources Ltd. completed the sale of its 50 % joint venture interest in the Selwyn zinc and lead project for $50 million in cash. Selwyn proposed to use the proceeds of the transaction to finance the re-start of mining and milling operation at ScoZinc Mine in Nova Scotia when conditions are favourable. A group of shareholders have initiated actions to have the proceeds of the transaction to be distributed to shareholders and to consider the liquidation of the Company at the Annual General Meeting on June 17, 2013. Shareholders did not vote in favour of liquidation of the Company (see June 17, 2013 news release) and elected five new members to the Board (see Board of Directors), replacing the previous board of directors.

At the present time, the new members of the Board are reviewing the Company to determine the next steps forward.

Selwyn Resources Ltd. is a publicly traded, Canadian base metals exploration and development company. With the sale of its interest in the Selwyn Joint Venture, its prime focus is the restart of the ScoZinc Mine in Nova Scotia.

In mid February 2011, Selwyn entered into an acquisition agreement to purchase all assets of ScoZinc Limited from Acadian Mining Corporation. The assets include the Scotia Mine and 12, 256 hectares of mineral claims covering much of the prospective geology in the Windsor Basin in Central Nova Scotia.

The purchase price was $10 million less funds paid to the Nova Scotia government related to unpaid mineral taxes on former mine production and funds needed to top up the reclamation and closure bond for the Scotia Mine property.

ScoZinc has undertaken approximately $10 million of expenditures on the property to the end of May 2013 including mine refurbishment, purchase of surface rights, permitting and engineering and exploration. A Preliminary Economic Assessment was released August 30, 2011 and updated December 20, 2012 and updated again on June 12, 2013.

Please see the Company’s published information for complete disclosure of the above information.

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