VANCOUVER, March 29, 2012 /CNW/ - Sunward Resources Ltd. ("Sunward" or the "Company") (TSX: SWD; OTCQX: SNWRF) is pleased to announce that its Common shares will commence trading on the Toronto Stock Exchange ("TSX") at the opening of the market on Monday, April 2, 2012. Sunward's Common shares will be delisted from the TSX Venture Exchange concurrent with the commencement of trading on the TSX. The Company's shares will continue to trade under the current stock symbol "SWD". Sunward is also listed on OTCQX International in the United States under the stock symbol "SNWRF".
"Trading on the TSX is another reflection of Sunward's continuing growth in stature, profile and visibility," said Colin Andrew, the Company's Chief Executive Officer. "The TSX is one of the most highly-regarded well-regulated Stock Exchanges in the world. We are delighted and honored to be a part of its family of companies."
Sunward Resources is a well-capitalized, Canadian-based company focused on the exploration and development of gold/copper porphyry projects in Colombia. The 100%-owned Titiribi Project is located in Antioquia department, approximately 70 kilometres southwest of the city of Medellin, Colombia, within the historical Titiribi mining district (estimated total production of 1.5 to 2 million ounces gold equivalent). Access is by paved highway from Medellin.
Titiribi hosts an NI 43-101-compliant Indicated Mineral Resource of 2.2 million ounces of gold within 142.94 million tonnes grading 0.480 grams/tonne gold and 0.148% copper and an Inferred Mineral Resource of 6.08 million ounces of gold within 372.7 million tonnes grading 0.507 grams/tonne gold and 0.078% copper, both assessed using a 0.3 grams/tonne gold cut-off. Based on the above, Titiribi also hosts 465.9 million pounds of copper in the Indicated Resource and 645.7 million pounds of copper in the Inferred Resource. Titiribi thus contains 3.50 million ounces of gold equivalent in the Indicated Resource category and a further 7.90 million ounces of gold equivalent in the Inferred Resource category, calculated on the basis of gold price of $1,114 per ounce and copper price of $3.07 per pound (See Report dated September 2011 available at www.sunwardresources.com and on SEDAR.)
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.