Swift Resources Announces Financing With MineralFields Group

Swift Resources Inc. (TSX VENTURE: SWR) ("Swift") (the "Company"), is pleased to announce that it has negotiated a private placement (the "Financing") with MineralFields Group to raise gross proceeds of up to $500,000.

Under the terms of the Financing, the Company will issue 1,785,714 flow-through units (the "FT Units") at a price of $0.28 per FT Unit. Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of a transferable non flow-through common share purchase warrant ("Warrants"). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share during the first year and thereafter at $0.45 per share during the second year from the closing date of the Financing (the "Closing Date").

Provided that the Company's shares close on the TSX Venture Exchange at any time four months after their date of issue for twenty consecutive trading days at a price of $0.50 per share or higher during the first year of the exercise period and at a price of $0.65 per share or higher during the second year of the exercise period, the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the Warrant holder by way of registered mail, or thereafter the unexercised Warrant will be forfeited and terminated.

"We are very pleased to continue our relationship with MineralFields Group," said Mike Elson, President and CEO. "This is an important milestone in the growth of Swift Resources Inc. and we look forward to working with MineralFields Group as we develop our holdings in Canada."

Limited Market Dealer Inc. will be paid a cash finder's fee of 6% of the funds raised, and issued a finder's fee option to acquire Units (the "Compensation Units") equal to 8% of the total number of FT Units sold, exercisable at $0.28 per Compensation Unit for a term of two years.

About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service- friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).

SWIFT RESOURCES INC.

Mike Elson, President & Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contacts:
Swift Resources Inc.
Stan Szary
Director
(604) 685-6989
(604) 685-6961 (FAX)
info@swiftres.com
www.swiftres.com

SOURCE: Swift Resources Inc.

mailto:info@swiftres.com
http://www.swiftres.com

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