December 04, 2008 at 03:00 AM EST
Selwyn Resources Ltd.: High Mineral Potential Confirmed in Don Valley

VANCOUVER, BRITISH COLUMBIA -- Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to provide an update on this past year's drilling activities in the Don Valley area of the Selwyn Project. A portion of the diamond drilling in 2008 was focused on the highly prospective 8.0 kilometre length of Active Member between the Don and HC deposits. The drilling was focused on expanding the high-grade zinc-lead mineral potential defined in 2006 and 2007. The location of the drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-142 intersected 4.24 metres true thickness grading 7.07% zinc and 2.07% lead, including 2.55 metres grading 7.88% zinc and 2.21% lead; the intercept is bound by a fault and is therefore considered to be an incomplete representation of the Active Member at this location.

Don East Underground Target Follow-up

The deep drilling in the adjacent fault panel that hosts the Don East deposit continues to demonstrate significant higher-grade zinc-lead mineralization beneath the expected extent of any conceptualized open pit mining. Only one high-priority target was drilled in Don Valley in 2008 as follow-up to the very encouraging results of DON-131.

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True

From To Thickness Pb Zn Pb+Zn Thickness

Drill Hole (m) (m) (m) (%) (%) (%) (m)

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DON-142 968.50 974.50 6.00 2.07 7.07 9.14 4.24

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Including 968.50 972.10 3.60 2.21 7.88 10.09 2.55

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DON-142, now the deepest intercept of well mineralized zinc-lead Active Member on the Selwyn Project, was designed to further test the continuity of zinc-lead

mineralized Active Member to the southeast of DON-106 and DON-114. The intercept in DON-142 is, located within the fault panel adjacent to the Don East high-grade underground deposit; which is interpreted to host the HC West deposit. In 2007, DON-131 intersected 52.20 metres true thickness of well mineralized Active Member in this fault panel (see January 14, 2008 news release) at a depth of 791.30 metres and confirmed the geological modeling; however, additional drilling is required in the area between the mineralization in DON-142 and the up-dip HC West deposit to confirm the contiguous nature of the zinc-lead mineralization.

The full extent of mineralization in the area of DON-142 is unknown because of a fault structure that cut-off the mineralization; below which, the drill hole proceeded into footwall rocks. DON-142 intersected the Active Member 1,280 metres southeast of DON-106 (see September 4, 2007 news release), 1,288 metres southeast of DON-114 (see November 14, 2007 news release), and 450 metres southeast of DON-131. The following table presents some of the previously released intersections in DON-106, DON-114, and DON-131.

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True

From To Thickness Pb Zn Pb+Zn Thickness

Drill Hole (m) (m) (m) (%) (%) (%) (m)

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DON-106 510.20 543.80 33.60 1.76 8.09 9.85 22.50

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Including 524.00 542.30 18.30 2.23 11.13 13.35 12.30

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Including 524.00 527.00 3.00 2.36 17.48 19.84 2.00

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Including 532.50 542.30 9.80 2.37 12.50 14.87 6.60

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DON-114 611.70 688.20 76.50 1.26 4.55 5.81 44.97

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Including 639.60 647.70 8.10 2.01 8.84 10.84 4.76

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Including 668.20 684.30 16.10 2.36 7.23 9.59 9.46

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DON-131 791.30 848.40 57.10 1.71 4.62 6.33 52.20

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Including 824.40 833.10 8.70 3.01 7.76 10.76 8.00

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The new underground target intersected with DON-142 is conceptualized to have an area of 400 by 850 metres that has an average thickness of 5.3 metres with base

metal grades ranging from 9.14% to more than 10.76% combined lead and zinc. This target is conceptual in nature and it is not known whether there has been sufficient drilling to define a mineral resource or whether additional drilling will define a mineral resource. Additional definition drilling may be required prior to defining mineral potential as an accepted NI 43-101 mineral resource classification.

The intersection of mineralization in the fault panel adjacent to the Don East deposit, has confirmed significant mineral potential that extends beyond the area of the 2008 NI 43-101, high-grade underground mineral resources of both Don East and HC West deposits. The Don East deposit possesses a NI 43-101 compliant, high-grade underground, Inferred mineral resource of 11,975,460 tonnes grading 8.59% zinc and 2.3% lead, and the HC West deposit possesses a NI 43-101 compliant, high-grade underground Inferred mineral resource of 2,996,000 tonnes grading 9.73% zinc and 3.00% lead.

Note that all discussion of NI 43-101 compliant Indicated and Inferred mineral resources are referenced in the January 29, 2008 news release that discusses the NI 43-101 compliant mineral resources and the subsequent report written by Independent Qualified Person Cliff Pearson, P.Geo. and Non-Independent Qualified Person John. J. O'Donnell, P.Geo, for the Selwyn Project.

The Selwyn Project exploration program is overviewed by Vice President Exploration, Jason Dunning, M.Sc., P.Geo. The onsite activities for the Selwyn Project are directed by Exploration Manager, John J. O'Donnell, P.Geo. Both Mr. Dunning and Mr. O'Donnell are Qualified Persons within the meaning of National Instrument 43-101. All assay data has been through internal validation of quality assurance and quality control. Selwyn has established a sampling and assay control program with blind insertion of assay blanks, standards and duplicates for the Selwyn Project; however, it should be noted that there is also a quality control and quality assurance program in place at ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, duplicates and standards. Zinc and lead analyses are conducted by a 17-element, four-acid digestion, ore-grade ICP-AES technique.

Selwyn's focus is the exploration of its properties that make up the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production of zinc and lead, at a time when major new mines are needed to ensure adequate future zinc mine supply.

This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of the new discovery areas and expansions of the current resource areas and the extension of the higher grade deep mineralization to depth. There is no assurance that the resources being defined can be developed as an economically attractive mine, and there are many uncertainties associated with permitting and other factors that could delay such development.

SOURCE: Selwyn Resources Ltd.

Selwyn Resources Ltd.

Dr. Harlan Meade, President and CEO

(604) 801-7240 or Toll Free: 1-888-989-7240

International Toll Free: 1-866-940-5019

Selwyn Resources Ltd.

Jasmin TamDoo, Manager of Investor Communications

(604) 801-7240 or Toll Free: 1-888-989-7240

International Toll Free: 1-866-940-5019

(604) 689-8355 (FAX)

Email: info@selwynresources.com

Website: www.selwynresources.com

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