ELECTRUM STRATEGIC ACQUISITIONS ACQUIRES UNITS OF SUNWARD RESOURCES LTD.

NEW YORK, Dec. 16 /CNW/ - Electrum Strategic Acquisitions LLC ("Electrum") announced that it has entered into definitive agreements with Sunward Resources Ltd. ("Sunward") for the sale, on a private placement basis in reliance on the accredited investor exemption, of a minimum of 18,150,000 units (the "Units") and a maximum 36,150,000 of Units at a purchase price of $1.35 per Unit, for aggregate gross proceeds of between $24,502,500 and $48,802,500 (all figures are in Canadian Dollars). Each Unit will consist of one common share of Sunward ("Common Share") and one Common Share purchase warrant ("Warrant") which entitles the holder thereof to acquire one Common Share for an exercise price of $1.65 prior to the third anniversary of the closing date. Assuming the completion of the full offering, as a result of the acquisition noted above, Electrum will own between approximately 16.32% and 27.98% of the issued and outstanding Common Shares and between 90.75% and 95.13% of the Warrants.

The Units are being acquired for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of Sunward whether in the open market, by privately negotiated agreement or otherwise.

Electrum Strategic Acquisitions LLC is located at 535 Madison Avenue, 11^th Floor, New York, NY 10022.  A copy of the report relating to this acquisition can be obtained from Michael Williams 646-365-1600 or on Sunward's profile at www.SEDAR.com.

The filing of this report is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.