SWEF TERRAWINDS RESOURCES CORP. Extends Filing Period for Tax Indemnity Claims to July 31, 2013

TORONTO, April 10, 2012 /CNW/ - SWEF TERRAWINDS RESOURCES CORP. (the "Company") announced today that it has further extended the filing period for tax indemnity claims to July 31, 2013.

On January 4, 2008, the Company entered into a tax indemnity payment agent agreement with a tax indemnity agent pursuant to which a $24,490,816 tax indemnity fund was paid to the agent to be held in trust for SWEF Terrawinds.  The tax indemnity payment agreement was amended in 2010 to expire in July 31, 2012.  The Board of Directors of the Company has further extended the agreement to expire on July 31, 2013.  Investors who intend to file claims and have not yet done so are urged to do so as soon as possible.

Forward Looking Statements

Certain statements contained in this Press Release constitute forward looking statements within the meaning of the Securities Act (Ontario) regarding the future performance of the Company based on assumptions the management of the Company, considered reasonable at the time it was prepared. All forward looking statements are inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward looking statements. We consider the assumptions on which these forward looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. These forward looking statements involve a number of risks, uncertainties and assumptions, including the risk of future tax assessments, litigation or other unanticipated expenses.

The Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as required by law.  These risks may cause the actual results, performance or achievements of the Partnership to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These cautionary statements expressly qualify all forward looking statements attributable to the Company.

W. Judson Martin, Chairman SWEF Terrawinds Resources Corp. [email protected]