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Swingplane Ventures, Inc. Provides Summary of Previous Work Program

Feb 5 2013 12:00AM

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SANTIAGO, CHILE -- (Marketwire) -- 02/05/13 -- Swingplane Ventures, Inc. (OTCBB: SWVI) (the "Company") is pleased to update information on previous work program.

Günter Stromberger's Report

The Algarrobo Property (the "Property") is located approximately 850 km north of Santiago, in the III Region, Province of Copiapo, Chile. The city of Copiapo is located approximately 43 km to the southeast of the Property, with the small port city of Caldera 25 km to the east. The Property consists of 32 tenures, comprising a total of 6,161 ha.

In 2000, the Property vendor (G. Stromberger) undertook a sampling program in order to evaluate the potential for copper, in both existing surface excavations and in accessible underground workings. Sampling included oxide, sulphide and transitional mixed oxide / sulphide facies mineralization. Primary minerals noted included pyrite, arsenopyrite, hematite, magnetite, molybdenite and cobaltite, with copper-bearing minerals including chalcopyrite, bornite and gold. Secondary minerals noted included limonite, cuprite, malachite, chrysocolla, erythrite, chalcocite, covellite and bornite.

The La Escondida (BHP Billiton 57.5%, 30% by Rio Tinto) deposit is currently the highest producing copper mine in the world. Its 2007 production of 1.483 million tonnes of copper was worth US $10.12 billion and represented 26% of Chilean copper production, according to the US Geological Survey's preliminary estimates of 2007 world mine output.

On March 14, 1981, 'Pozo 6,' the last scheduled borehole in the program, hit 52 metres of 1.51% copper at a depth of 240 metres and discovered the main Escondida orebody. More holes were drilled to delineate the orebody and a shaft was sunk to provide bulk samples for metallurgical testing. Construction of the mine started in 1988, which included the stripping of over 180 million tonnes of waste to get to the orebody. Major copper mines around the world generally average less than 1% copper.

Analyses for a total of 160 samples have been documented, predominantly of copper, with subordinate gold (Au) and highly subordinate silver (Ag). As the samples were recovered from existing workings, the ore had been mined and the samples, therefore, represent "waste rock."


----------------------------------------------------------------------------- Assay Results----------------------------------------------------------------------------- Number Sample of Width Sample Depth Cu AuSamples Sample Description (m) (m) (%) (gm/t)----------------------------------------------------------------------------- Road Cut - Descubridora to Main 16 Road 2.36 Surface 0.38----------------------------------------------------------------------------- 14 Estaca-Viuda Mines-Wallrock 0.4----------------------------------------------------------------------------- 17 Estaca-Viuda Mines-Face 1.02 85 to 260 1.34 0.45----------------------------------------------------------------------------- 3 Rincon-Caupolican Mines-Wallrock 30 to 116 1.55 0.28----------------------------------------------------------------------------- 24 Test Pit - Oxide Vein 1.9 Surface 1.64 1.56----------------------------------------------------------------------------- 17 Panga-Equador-Uruguay Mines 2.25 15 to 100 1.76 0.6----------------------------------------------------------------------------- 35 Pirquinero Workings - Oxide Vein 1.15 4 to 30 3.14 0.98----------------------------------------------------------------------------- 24 Mine Dumps 3.27 1.25----------------------------------------------------------------------------- 4 Viuda Chica Mine 0.63 Surface to 57 3.93 0.73----------------------------------------------------------------------------- 15 Rincon/Caupolican - Oxide Vein 0.85 1 to 116 4.91 1.38----------------------------------------------------------------------------- 5 Descubridora - oxide vein 0.82 8 to 16 5.75 0.37----------------------------------------------------------------------------- 8 Estaca-Viuda Mines-Pillar 1.2 Surface to 245 8.21 0.59-----------------------------------------------------------------------------




The above data document highly anomalous to high grade copper mineralization, accompanied by high grade gold values (to 1.56 gm/t). In addition, although not consistently analyzed, silver values ranged between 0.1 and 10.5, with a high of 108.8 gm/t.

In addition to sampling, Stromberger (2000) undertook mapping of the vein systems, defining strike lengths of at least three kilometers for the "Major Veins" and proposed up to 8 km of strike extent based on the linear arrangement of discontinuous mines and excavations. At least 8 mineralized veins, having thicknesses greater than 2.5 m and continuous along surface for more than 300 m, are known, of which five have been commercially mined. An additional 12 mineralized veins, having thicknesses in excess of 1 metre with varying orientations, have been mined using predominantly hand tools and, therefore, to limited depth.

Mapping underground indicates that thickness of the mineralized veins varies both horizontally and vertically, with most mineralization occurring in irregular lenses (possible "blows"). For instance, the Estaca Vein varies between 0.05 and 3 metres at surface, however, at depth there is a general increase in width, with the vein varying between 0.05 m to more than 5 m thick. Maximum dimensions of lenses observed were up to 60 m horizontally and 40 m vertically.

Only limited sampling of the underground workings was undertaken due to difficulties with access and, as such, the samples represent grab samples broadly representative of the grade of mineralization remaining in the mines. In addition, although maximum depths of up to 450 m are reported (i.e. Estaca - 300 m depth, Viuda - 450 m depth and Viuda Chica - 60 m depth), sampling of the underground workings was restricted more shallow depths.

A copy of Stromberger (2000) report is available on the Company's web-site at:

http://www.swingplaneventuresinc.com

The content of this news release has been reviewed by Rick Walker, B.Sc., M.Sc., P. Geo., a Qualified Person for the purposes of NI 43-101, with the ability and authority to verify the authenticity and validity of the data herein.

Safe Harbor Statement

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.

EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO THE COMPANY'S PLANS TO ENTER INTO A MINING OPTION AGREEMENT WITHIN THE NEXT FORTY-FIVE DAYS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS ON FORM 10-K AND FORM 10-Q, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANG ECOMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.



Michel Voyer
President and Director
For more information please visit our web site at:
www.swingplaneventuresinc.net
Or contact Investor relations at:
1-800-253-1692





Source: Marketwire