Company

Quinns Drilling update

November 21, 2011

Silver Swan Group Limited (“Silver Swan” or “the Company”) is pleased to provide an update following recent RC and diamond drilling at the Flinders and Murchison Wonder prospects within the Quinns VMS project in the Murchison province of Western Australia.

• 3,309m of drilling completed at Flinders and Murchison Wonder prospects with highly encouragingresults. Additional drilling now being planned.

• New VMS sulphide mineralisation intersected at the Flinders prospect,
- 6 diamond and 1 reverse circulation(RC) holes drilled (assays pending)
- Zn-Cu-Pb mineralisation intersected (grade to be confirmed by assays)
- New EM programme commenced to assist in targeting additional drilling

• 5 RC holes completed at the Murchison Wonder VMS prospect:
-Up to 5.5% Zn mineralisation intersected in RC drilling
-Diamond hole to be drilled (extending RC collar) designed to intersect target position and EM conductor

Silver Swan Group Limited ("Silver Swan" or "the Company") is pleased to provide an update following recent RC and diamond drilling at the Flinders and Murchison Wonder prospects within the Quinns VMS project in the Murchison province of Western Australia.
Silver Swan's recent activities at the Quinns VMS Project have been focused on the Flinders and Murchison Wonder Prospects which are located only 10-15km NE of Silver Swan's Austin VMS deposit (Figure 1), and are highly prospective for hosting additional VMS deposits. Based on a substantial programme of surface fixed loop (FLEM) and down-hole electromagnetic (DHEM) surveys completed by Silver Swan, the Company generated a number of strong EM conductor targets that have been the subject of the recent drilling campaign.
Seven holes at the Flinders prospect (including 1 previously announced 11FLD001) have been drilled at Flinders comprising 2,342m in total. At Murchison Wonder a total of 967m has been completed by RC drilling and a diamond tail is pending. Samples are currently with the assaying laboratory.