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Last updated on April 19, 2014 at 13:20 EDT

Sunward Significantly Increases Measured Resources of Both Gold and Copper at Titiribi Project in Newly-Updated 43-101 Report

September 12, 2013
        --  Measured and Indicated Mineral Resources Increase to
            Approximately 4.63 Million Ounces of Gold and 654 Million
            Pounds of Copper

        --  Measured Mineral Resources Increase to Approximately 816
            Thousand Ounces of Gold and 195 Million Pounds of Copper

        --  Newly updated 43-101 Report provides increased confidence for
            future advancement of Titiribi

VANCOUVER, Sept. 12, 2013 /CNW/ – Sunward Resources Ltd. (“Sunward” or the “Company”) (TSX: SWD; OTCQX: 
SNWRF)
is pleased to announce that it has completed an updated mineral
resource estimate for its 100%-owned Titiribi Project (“Titiribi” or
the “Project”) located in Antioquia Department, approximately 70
kilometers southwest of the city of Medellin, Colombia. Sunward has
completed 144,778 metres of drilling in total on the Project, primarily
focused at the Cerro Vetas mineralized zone. This drill program is now
complete.

A Technical Report has been prepared by Behre Dolbear & Company (USA),
Inc. (“BDB Update”) in accordance with NI 43-101. The full technical
report will be filed on SEDAR and will be available on the Company’s
website.

Behre Dolbear has reported that, based on a cut-off of 0.3 grams per
tonne (“g/t”) gold (as used in the June 2012 report), the Titiribi
project currently hosts 285.8 million tonnes (“Mt”) of Measured and
Indicated Mineral Resources averaging 0.50 g/t gold, thus containing
4.63 million ounces (“Mozs”) of gold. In addition, the Project contains
654.4 million pounds (“Mlbs”) of copper in the Measured and Indicated
Resource categories, resulting in a corresponding gold-equivalent
resource of 6.22Mozs(2). (Please refer to Table 1 below for complete details).

These figures incorporate a substantial increase in the overall amount
of Measured gold and copper resource (51.6 Mt @ 0.49 g/t Au and 0.17%
Cu) contained in Titiribi, which, in June 2012, stood at 7.5 Mt grading
0.46 g/t gold and 0.16% copper.  Importantly, the stated gold for
Measured resource increased almost 7.5 times to approximately 816
thousand ounces and the stated copper increased almost 7.2 times to
approximately 195 million pounds.

Overall, the combined Measured and Indicated tonnes have remained fairly
consistent, increasing somewhat from 275.4 Mt containing 4.58 Mozs of
gold and 615.4 Mlbs of copper to 285.8 Mt containing 4.63 Mozs of gold
and 654.4 Mlbs of copper.

Inferred gold Resources (349.4 Mt averaging 0.53 g/t gold) at Titiribi
have decreased slightly, moving from 6.44 Mozs gold to 6.01 Mozs gold
and Inferred copper Resources decreased from 388.5 Mlbs to 216.3 Mlbs. 
Factoring in copper content in the Cerro Vetas mineralized zone,
Inferred Resources, expressed in gold-equivalent, now total 6.53 Mozs(2).  (Please refer to Table 2 below for details.) It is important to
observe that the reported amounts of gold and copper are in line with
the corresponding figures presented in the last Technical Report dated
June 2012.  This outcome is primarily due to the incorporation of
results of the Cerro Vetas infill drill program, which was not expected
to materially impact the overall Resource estimate.

The total assessed resources encompass only three out of nine
mineralized zones at Titiribi. The exploration potential of this highly
prolific district is considered to be excellent.

The current resource model also confirmed a higher-grade zone of
breccia-hosted, gold-dominant mineralization in the northwest sector of
the Cerro Vetas porphyry (the “NW Breccia”). This zone hosts a Measured
and Indicated Mineral Resource of 39.7 Mt grading 0.62 g/t gold for a
contained 0.79 Mozs of gold, along with an Inferred Mineral Resource of
96.2 Mt grading 0.54 g/t gold containing 1.68 Mozs of gold.

“The BDB Update confirmed that Titiribi contains one of the most
significant endowments of gold in the world,” said Philip O’Neill,
Sunward’s Chief Executive Officer. “On the basis of 0.3 gram-per-tonne
cut-off (the same as in the previous studies), the Project was
determined to host approximately 4.63 Mozs of gold in Measured and
Indicated (“M&I”) Categories (compared to 4.58 Mozs in the previous
Report produced in June 2012) and approximately 6.0 Mozs of gold in the
Inferred Category (compared to 6.44 Mozs in the previous Report).
Importantly, the BDB Update demonstrated that the Measured portion now
constitutes about 18% of the total M&I amount compared to the 2%
assessed in the previous Report. The increased proportion of Measured
Resource within the combined M&I Category reflects the increased
resource confidence achieved as a result of the additional drilling
carried out on the property over the last year. In addition to gold,
Titiribi contains substantial amounts of copper determined to total 654
Mlbs in the M&I Category (compared to 615 Mlbs in the previous Report)
and 216 Mlbs in the Inferred Category (compared to 388.5 Mlbs the
previous Report). These figures should be put in the context of the
recovery characteristics for both metals, which at the major Cerro
Vetas Zone average approximately 83% and 90% for gold and copper,
respectively. These and other factors, including the existing project
infrastructure, will form the foundation for ongoing and future
engineering studies for the Project.”

The updated resource estimate covers the Cerro Vetas, Chisperos, and the
NW Breccia zones. The NW Breccia zone is located on the northwestern
periphery of the Cerro Vetas zone while the Chisperos zone is
immediately to the northeast of Cerro Vetas.

Significant Increase in Measured Global Resource

The increased tonnage and ounces of gold and lbs of copper in the
Measured category of Resources, reported by Behre Dolbear, were
primarily the result of the incorporation into the current resource
model of recent in-fill drill holes located for the most part in the
Cerro Vetas zone, along with modified and reinterpreted geology at the
Cerro Vetas, NW Breccia and Chisperos resource areas.

Geology of the Titiribi Project

The BDB Update confirms that the Titiribi Project contains several
separate mineralized zones, and although all appear related to a large
Miocene-age post-caldera intrusive system, each is spatially separate.
The Cerro Vetas-NW Breccia-Chisperos complex is a bulk tonnage gold and
copper porphyry deposit directly related to several interconnected
Cerro Vetas diorite porphyry centers but also hosted in the immediate
contact aureoles and adjacent breccias. Prior to this report, the
Chisperos zone was thought to consist of two separate zones, Chisperos
and Virgen. Continued drilling and modeling now demonstrates that
Chisperos hosts intrusive and contact aureole mineralization and as of
2013, the term Virgen is no longer used. Mineralization hosted in the
Cerro Vetas diorite porphyry is disseminated and fracture controlled.
The principal metallic minerals are native gold, chalcopyrite, pyrite,
and magnetite. Gold values within the Cerro Vetas diorite normally
correlate well with copper content and magnetite. The largest diorite
intrusive occurs within the Cerro Vetas zone with smaller plugs and
dikes found within the NW Breccia and Chisperos zones. The diorite
porphyry hosts typical porphyry copper alteration with a barren to
weakly mineralized pro-grade potassic core, surrounded by a
well-mineralized phyllic zone, and a thinly mineralized retrograde
argillic zone. The outermost propylitic alteration zone is widespread.
Interpretation of geophysical and drill hole data suggests that
potential higher-grade gold-copper zones exist as a domed
contact-related shell in the intrusive where brecciated diorite with
xenolithic fragments of sedimentary rocks was intercepted in drilling.
This higher-grade domed shell is, at least in part, coincident with the
phyllically altered intrusive-sedimentary contact breccia.

A second style of mineralization is gold-only mineralization developed
in diatreme breccia in the NW Breccia and Chisperos zones. At NW
Breccia, a separate diorite plug hosts gold and copper mineralization
while the diatreme breccia hosts both gold-only and gold-copper
mineralization. The reason for separate gold-only and gold-copper zones
in the diatreme breccia is unknown but may be related to proximity to
diorite dikes.

Similar to the NW Breccia, Chisperos hosts gold-copper mineralization in
diorite plugs and dikes, gold-only mineralization in diatreme breccia.
It also hosts substantial epithermal, lower-temperature generally
gold-only mineralization within parallel to sub-parallel mineralized
zones that are both stratigraphically and structurally controlled and
hosted in a sedimentary-volcanic sequence. The near- vertical diorite
plugs and dikes consistently strike east-northeast and appear to
emanate from the principal stock at the Cerro Vetas zone with all
intruding structural weaknesses developed in the earlier diatreme
breccia. Northwest-striking, steeply dipping faults are theorized to be
the channel ways for auriferous hydrothermal fluids that mineralized
shallow-dipping, favorable stratigraphic hosts; the Amaga
Formation/basement contact; diatreme breccia; and possibly
shallow-dipping bedding-plane fault zones.

Additional Information

Behre Dolbear assigned Mr. Joseph A. Kantor and Dr. Robert E. Cameron to
undertake the project.  Both are recognized as Qualified Professionals
by the Mining and Metallurgical Society of America (MMSA) and as
Qualified Persons under NI 43-101.

Ms. Heather White, P.Eng, is Special Advisor to the COO, and a
consultant to the Company.  Ms. Heather White is a qualified person
under National Instrument 43-101 and has reviewed and approved all of
the scientific and technical information on Company’s news releases
other than the NI 43-101 technical reports on the Company’s Titiribi
project.

     ______________________________________________________________________________________
    |                                                Table 1                               |
    |                            Titiribi Measured and Indicated Mineral Resource          |
    |                                  (0.3 g/t Cutoff As of July 31, 2013)                |
    |______________________________________________________________________________________|
    |         |         |       |     |    |             Contained Metals     |     Au     |
    |         |         |Million| Au  | Cu |__________________________________|Equivalence1|
    |   Area  |   Class |Tonnes |(g/t)|(%) |   Au  |   Au   |   Cu   |   Cu   |(million oz)|
    |         |         |       |     |    |  (kg) |(million|(tonnes)|(million|            |
    |         |         |       |     |    |       |  oz)   |        |  lbs)  |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |Cerro    |Measured |  51.6 |0.49 |0.17|25,380 |   0.82 | 88,486 |  195.1 |      1.29  |
    |Vetas    |_________|_______|_____|____|_______|________|________|________|____________|
    |         |Indicated| 132.4 |0.48 |0.16|63,949 |   2.06 |208,317 |  459.3 |      3.17  |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |         |         |       |     |    |       |        |        |        |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |Chisperos|Indicated|  62.1 |0.48 |  - |30,077 |   0.97 |       -|       -|      0.97  |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |         |         |       |     |    |       |        |        |        |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |NW       |Indicated|  39.7 |0.62 |  - |24,541 |   0.79 |       -|       -|      0.79  |
    |Breccia  |         |       |     |    |       |        |        |        |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |         |         |       |     |    |       |        |        |        |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |Total    |         |       |     |    |       |        |        |        |            |
    |Measured |         | 285.8 |0.50 |  - |143,947|   4.63 |296,804 |  654.4 |      6.22  |
    |+        |         |       |     |    |       |        |        |        |            |
    |Indicated|         |       |     |    |       |        |        |        |            |
    |_________|_________|_______|_____|____|_______|________|________|________|____________|
    |1Gold Equivalence estimated using $1,300 per ounce gold at 83% recovery and $2.90 per |
    |pound copper at 90% recovery                                                          |
    |______________________________________________________________________________________|
     ______________________________________________________________________________________
    |                                                    Table 2                           |
    |                                      Titiribi Inferred Mineral Resource              |
    |                                     (0.3 g/t Cutoff As of July 31, 2013)             |
    |______________________________________________________________________________________|
    |         |        |       |     |     |             Contained Metals     |            |
    |         |        |Million| Au  | Cu  |__________________________________|     Au     |
    |   Area  |  Class |Tonnes |(g/t)| (%) |   Au  |   Au   |   Cu   |   Cu   |Equivalence1|
    |         |        |       |     |     |  (kg) |(million|(tonnes)|(million|(million oz)|
    |         |        |       |     |     |       |  oz)   |        |  lbs)  |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |Cerro    |Inferred| 153.0 |0.57 |0.064| 87,712|   2.82 | 98,104 |  216.3 |      3.34  |
    |Vetas    |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |         |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |Chisperos|Inferred| 100.2 |0.47 |   - | 46,811|   1.51 |       -|       -|      1.51  |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |         |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |NW       |Inferred|  96.2 |0.543|   - | 52,285|   1.68 |       -|       -|      1.68  |
    |Breccia  |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |         |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |Total    |        | 349.4 |0.53 |   - |186,807|   6.01 | 98,104 |  216.3 |      6.53  |
    |Inferred |        |       |     |     |       |        |        |        |            |
    |_________|________|_______|_____|_____|_______|________|________|________|____________|
    |1Gold Equivalence estimated using $1,300 per ounce gold at 83% recovery and $2.90 per |
    |pound copper at 90% recovery                                                          |
    |______________________________________________________________________________________|


Please refer to the full Technical Report titled “Technical Report on
the Titiribi Project, Department of Antioquia, Colombia”, dated
September 9, 2013, in accordance with NI 43-101. The technical report
will be filed on SEDAR and will be available on the Company’s website.

Note to Tables:

The mineral resources are reported in accordance with Canadian
Securities Administrators’ NI 43-101 and have been estimated in
conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines.  No Reserves conforming to these standards have been
estimated as the Company has not advanced exploration and evaluation
work to the point of developing plans, production schedules and
economic analysis.

The Authors would also note that the Inferred Resource estimates have a
great amount of uncertainty as to their existence and economic and
legal feasibility. It cannot be assumed that all or any part of an
Inferred mineral resource will ever be upgraded to a higher category.
Under Canadian NI 43-101, estimates of Inferred mineral Resources may
not form the basis of feasibility or pre-feasibility studies or
economic studies except for a preliminary economic assessment or
scoping study. Investors are cautioned not to assume that any or all of
the Inferred Resources exist or are economically or legally mineable.

Notes:

      1. These resource estimates have been prepared in accordance with NI
         43-101 and the Canadian Institute of Mining and Metallurgy
         Resource Classification System, unless otherwise noted.
      2. Gold Equivalence is estimated using $1,300 per ounce gold at 83%
         recovery and $2.90 per pound copper at 90% recovery.
      3. Rounding as required by reporting guidelines may result in
         apparent summation differences between tonnes, grade and contained
         metal content
      4. Tonnage and grade measurements are in metric units. Contained gold
         and silver ounces are reported as kilograms and troy ounces,
         contained copper as kilograms and imperial pounds

Cautionary Note Concerning Reserve & Resource Estimates

This summary table uses the terms “Measured Resources”, “Indicated
Resources” and “Inferred Resources”. United States investors are
advised that, while such terms are recognized and required by Canadian
securities laws, the United States Securities and Exchange Commission
(the “SEC”) does not recognize them. Under United States standards,
mineralization may not be classified as a “reserve” unless the
determination has been made that the mineralization could be
economically and legally produced or extracted at the time the reserve
determination is made. Mineral resources that are not mineral reserves
do not have demonstrated economic viability. United States investors
are cautioned not to assume that all or any part of measured or
indicated resources will ever be converted into reserves. Further,
inferred resources have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or economically.
It cannot be assumed that all or any part of the inferred resources
will ever be upgraded to a higher category. Therefore, United States
investors are also cautioned not to assume that all or any part of the
inferred resources exist, or that they can be mined legally or
economically. Disclosure of “contained ounces” is permitted disclosure
under Canadian regulations, however, the SEC normally only permits
issuers to report “resources” as in place tonnage and grade without
reference to unit measures. Accordingly, information concerning
descriptions of mineralization and resources contained in this release
may not be comparable to information made public by United States
companies subject to the reporting and disclosure requirements of the
SEC.

NI 43-101 Standards of Disclosure for Mineral Projects is a rule
developed by the Canadian Securities Administrators, which established
standards for all public disclosure an issuer makes of scientific and
technical information concerning mineral projects. Unless otherwise
indicated, all resource estimates contained in this circular have been
prepared in accordance with NI 43-101 and the Canadian Institute of
Mining, Metallurgy and Petroleum Classification System.

Definitions of Terms used in this News Release

A Mineral Resource is a concentration or occurrence of natural, solid,
inorganic or fossilized organic material in or on the Earth’s crust in
such form and quantity and of such a grade or quality that it has
reasonable prospects for economic extraction. The location, quantity,
grade, geological characteristics and continuity of a mineral resource
are known, estimated or interpreted from specific geological evidence
and knowledge. Mineral resources are subdivided, in order of increasing
geological confidence, into inferred, indicated and measured
categories.

A Measured Mineral Resource is that part of a Mineral Resource for which quantity, grade or
quality, densities, shape, and physical characteristics are so well
established that they can be estimated with confidence sufficient to
allow the appropriate application of technical and economic parameters,
to support production planning and evaluation of the economic viability
of the deposit. The estimate is based on detailed and reliable
exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits,
workings and drill holes that are spaced closely enough to confirm both
geological and grade continuity.

An Indicated Mineral Resource is that part of a mineral resource for which quantity, grade or
quality, densities, shape and physical characteristics can be estimated
with a level of confidence sufficient to allow the appropriate
application of technical and economic parameters to support mine
planning and evaluation of the economic viability of the deposit. The
estimate is based on detailed and reliable exploration and testing
information gathered through appropriate techniques from locations such
as outcrops, trenches, pits, workings and drill holes that are spaced
closely enough for geologic and grade continuity to be reasonably
assumed.

An Inferred Mineral Resource is that part of a mineral resource for which quantity and grade or
quality can be estimated on the basis of geological evidence and
limited sampling and reasonably assumed, but not verified, geological
and grade continuity. The estimate is based on limited information and
sampling gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes.

QA/QC:

The Behre Dolbear authors opine that Sunward has done an outstanding job
of following industry best standards and maintaining chain of custody
in their exploration efforts. All diamond drill core is diligently
logged and documented. Because all of the coring is oriented and holes
are subject to downhole photography, Sunward geologists have gathered a
large amount of structural data and used it to decipher the structural
controls of the vein systems and locally higher-grade zones of
mineralization. All of the data is quite reliable.  Quality
Assurance/Quality Control (QA/QC) data is extensive and all industry
recognized procedures have been followed. The authors’ review of
standard and blank assay data shows little bias.

ABOUT SUNWARD:

Sunward Resources is a well-capitalized, Canadian-based company focused
on the exploration and development of the 100%-owned Titiribi Project
in Colombia.  The Titiribi Project is located approximately 70
kilometres southwest of the city of Medellin, Colombia, in Antioquia
department, within the historical Titiribi mining district (estimated
total production of 1.5 to 2 million ounces gold equivalent). Access is
by paved highway from Medellin.

Cautionary Statement Regarding Forward Looking Information

This news release contains forward-looking information within the
meaning of Canadian securities legislation. All statements included
herein, other than statements of historical fact, are forward-looking
information. Forward-looking information may include, but is not
limited to, statements with respect to future activities of the
Company; the Company’s plans for its mineral properties; the Company’s
business strategy, plans and outlook; the merit of the Company’s
properties; exploration results; mineral resource estimates; work plans
and timelines; completion of transactions; shareholder value;
projections and targets; the future financial or operating performance
of the Company, its subsidiaries and its projects; operating and
exploration expenditures and costs of future exploration and other
activities; and approvals, permits and licenses. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “possible”, “budget”,
“scheduled”, “strategy”, “goal”, “objective”, “potential”, “estimates”,
“assumes”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases,
or state that certain actions, events or results “may”, “could”,
“should”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company and/or its subsidiaries to
be materially different from any results, performance or achievements
expressed or implied by the forward-looking statements. Such
uncertainties and factors include, among others, inherent risks
involved in the exploration of mineral properties; risks associated
with foreign operations; risk relating to title to the Company’s
properties; the uncertainties involved in resource estimates and in
interpreting drilling results and other geological data; fluctuations
in currency exchange rates and commodity prices; uncertainties
regarding the issuance of approvals, licenses and permits; risks
related to competition; risks related to the Company’s ability to
acquire additional mineral properties; the availability of and costs of
required financing; economic, political and social uncertainties;
accidents and labour disputes; and political instability, insurrection
or war; as well as those factors discussed under “Risk Factors” in the
Company’s Annual Information Form. Although the Company has attempted
to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the
assumptions, beliefs, expectations and opinions of management,
including but not limited to that the Company’s exploration of its
properties and other activities will be in accordance with the
Company’s public statements and stated goals, that there will be no
material adverse change affecting the Company or its properties,
anticipated costs and timing for the Company’s activities and such
other assumptions as set out herein. Forward-looking statements are
made as of the date of this news release and the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise,
except as required by law. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance
on forward-looking statements.

SOURCE Sunward Resources Ltd.


Source: PR Newswire