Correction to Previously Published Release on September 4, 2012

VANCOUVER, Sept. 5, 2012 /CNW/ - The table published in Sunward Resources Ltd.'s ("Sunward" or the "Company") (TSX: SWD) (OTCQX:  SNWRF) press release dated September 4, 2012 contained errors in the gold equivalent (Au Eq g/t) and grade thickness columns. The table with corrected figures is included below.

Tables showing the Mineral Resources at Titiribi also are included below.

ABOUT SUNWARD:

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 approximately 70 kilometres southwest of the city of Medellin, Colombia, in Antioquia department, within the historical Titiribi mining district (estimated total production to date of 1.5 to 2 million ounces gold equivalent). Access is by paved highway from Medellin.

Titiribi currently hosts an NI 43-101 compliant Measured & Indicated Mineral Resource of 4.6 million ounces gold (within 275.4 million tonnes grading 0.52 grams per tonne gold and 0.17 per cent copper, using a 0.3 grams per tonne gold cut-off), along with an additional Inferred Mineral Resource of 6.4 million ounces gold (within 359.6million tonnes grading 0.56 grams per tonne gold using a 0.3 grams per tonne gold cut-off; see Report dated June 2012 available at www.sunwardresources.com and on SEDAR).

Titiribi thus contains 6.28 million ounces of gold equivalent in the Measured & Indicated Resource categories and a further 7.51 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.)

Intercepts for recent drilling at Cerro Vetas

                       
Hole No. Azimuth Incl. From (m) To (m) Int (m) Au g/t Cu %   Au Eq g/t Zone Grade thickness
g/t Au Eq/m
                       
CV094 322 -50 270.70 348.80 78.10 0.238 0.151   0.528 Cerro Vetas 41.20
      394.80 414.55 19.75 0.303 0.121   0.535 Cerro Vetas 10.57
      431.50 507.00 75.50 0.441 0.157   0.742 Cerro Vetas 56.03
      626.17 637.50 11.33 0.398 0.129   0.645 Cerro Vetas 7.31
                       
CV096 045 -87 630.00 659.30 29.30 0.306 0.078   0.456 Cerro Vetas 13.35
                       
CV097 142 -60 0.00 264.82 264.82 0.479 0.268   0.993 Cerro Vetas 262.95
      351.92 504.00 152.08 0.593 0.312   1.191 Cerro Vetas 181.18
                       
      351.92 596.00 244.08 0.433 0.250   0.912 Cerro Vetas 222.71
                       
CV098 140 -70 0.00 740.50 740.50 0.346 0.120   0.576 Cerro Vetas 426.62
                       
      126.93 166.00 39.07 0.429 0.124   0.667 Cerro Vetas 26.05
      176.00 267.00 91.00 0.568 0.140   0.836 Cerro Vetas 76.12
      480.00 647.50 167.50 0.553 0.167   0.873 Cerro Vetas 146.27
      695.50 740.50 45.00 0.334 0.136   0.595 Cerro Vetas 26.77
                       
                       
Note:   Gold Equivalents calculated using a price of Au at US$1,114 per Toz and Cu at US$3.07 per lb
Note:   Cut-offs stated at 0.3 g/t gold
 

Titiribi Measured and Indicated Mineral Resource

(0.3 g/t Au Cutoff as of May 9, 2012)

Model Class Tonnes
(M)
Au
(g/t)
Cu
(%)
Contained Metal Au Equivalence1
(M oz)
Au
(kg)
Au
(M oz)
Cu
(tonnes)
Cu
(M lbs)
Cerro
Vetas
Measured
Indicated
7.5
159.7
0.46
0.50
0.16
0.17
3,460
79,987
0.11
2.57
12,241
266,890
27.0
588.4
0.19
4.19
Chisperos Indicated 63.9 0.52 - 33,287 1.07 - - 1.07
NW Breccia Indicated 44.3 0.58 - 25,824 0.83 - - 0.83
Measured + Indicated 275.4 0.52 - 142,557 4.58 279,131 615.4 6.28
1Gold Equivalence calculated using US$1,114 per ounce gold, US$3.07 per pound copper, and 100% recovery
of both metals

Titiribi Inferred Mineral Resource

(0.3 g/t Au Cutoff as of May 9, 2012)

Model Class Tonnes
(M)
Au
(g/t)
Cu
(%)
Contained Metal Au Equivalence1
(M oz)
Au
(kg)
Au
(M oz)
Cu
(tonnes)
Cu
(M lbs)
Cerro Vetas Inferred 205.2 0.51 0.09 104,669 3.37 176,205 388.5 4.44
Chisperos Inferred 102.6 0.54 - 54,987 1.77 - - 1.77
NW Breccia Inferred 51.7 0.78 - 40,579 1.31 - - 1.30
Total Inferred 359.6 0.56 - 200,235 6.44 176,205 388.5 7.51
1Gold Equivalence calculated using US$1,114 per ounce gold, US$3.07 per pound copper, and 100%
recovery of both metals


 

 

SOURCE: Sunward Resources Ltd.

For further information:

Contact Information

Investors & Media:      
Kimberly Lim, Manager of Investor Relations
+1 604 568 7617
kim@sunwardresources.com 

Corporate:
Colin Andrew, CEO
+353 87 241 2290
colin.andrew@sunwardresources.com

Profil de l'entreprise

Sunward Resources Ltd.

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