Southwestern Resources Corp.: Positive Drill Results

[G-khan]

October 31, 2003 09:01



Southwestern Resources Corp.: Positive Drill Results-Cerro Crespo Trench Results Indicate Widespread Gold Mineralization at Cerro Queshca Liam Gold-Silver Project, Peru

VANCOUVER, British Columbia, Oct 31, 2003 (BUSINESS WIRE) -- Southwestern Resources Corp. (TSX:SWG) is pleased to announce that assay results have been received for drillholes LI-07, LI-08, LI-09, LI-10, LI-11 and LI-12, all of which were drilled at the Cerro Crespo silver-gold zone located on the Liam gold-silver property in Southern Peru. All of the holes intersected zones of silver-gold mineralization in various diatreme breccias indicating that the bulk of Cerro Crespo is mineralized. The Company is currently using one diamond drill rig to complete an initial 3,000 metre drilling phase and presently, holes LI-13, LI-14 and LI-15 are in the laboratory for assay and LI-16 is in progress. It is anticipated that about 25 holes will be completed in this first phase.

At Cerro Queschca, a trenching program has been initiated in areas where excellent gold grades were encountered in breccias located in a large overburden filled volcanic vent which extends for 4.5 kilometres by 2 kilometres. Gold mineralization is associated with widespread outcrops of brecciated and stockworked dacite within this broad overburden covered area. Assay results to date from the trenching program indicate excellent gold grades associated with these breccias.

Latest drill results from Cerro Crespo are outlined in the table below.

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