Swingplane

SANTIAGO,  CHILE -- (Marketwire) -- 02/14/13 --  Swingplane Ventures, Inc. (OTCBB:  SWVI) (the "Company" or "Swingplane") is pleased to update information  pertaining to the Algarrobo property.

Swingplane Venture, Inc.'s (the "Company") Algarrobo Property (the  "Property") is an Iron Oxide-Copper-Gold (IOCG) property 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 (15,224 acres).

Iron Oxide-Copper-Gold (IOCG) deposits are characterized by high iron  content, as magnetite and/or hematite, with variable amounts of copper  and other by-product metals and/or minerals. Deposits having high iron  content with little or no copper ("Kiruna-type"), as well as typical  IOCG deposits occur along the length of the Chilean Iron Belt. The  closest example of an iron-rich deposit (having subordinate copper) to  the Property is Cerro Negro North (approximately 20 km to the east). The  deposits of the Punte del Cobre -- Candelaria (approximately 65 km  south) and both Mantoverde (AngloAmerican) and Santo Domingo (Capstone  Mining), both of which are approximately 30 km north, are the closest  examples of IOCG deposits to the Property.

The Property shows similar vein-style IOCG mineralization to that  reported from the above examples. Veins having a high hematite content  (as "almagrado", an intimate mix of copper minerals and hematite) up to 5  m thick are relatively abundant throughout the Main Mineralized trend  and, more specifically, the Major Veins (see News Release dated January  30, 2013). Analytical results from samples taken during two Due  Diligence Property visits (in February and December, 2013) confirm high  iron content (to 55.24%), together with copper grades ranging between  1.06 and 46.58% (representative grab samples from high grade veins  and/or high grade mineralized material hand sorted for sale to ENAMI. Note: Grab samples are selective by nature and are unlikely to represent average grades of the deposit).

R. Walker, Q.P. for the Company, undertook an initial Due Diligence  property evaluation between January 30 and February 2, 2012. Two and a  half days were spent undertaking a preliminary evaluation of the  Property. Property orientation emphasized a review of existing workings  and historical underground mines exposed at surface on, and immediately  adjacent to, the Property. The majority of the workings defining the  three "Major Veins" and the "Main Mineralized Trend" are located within,  and immediately adjacent to, the northeast and eastern portion of the  Property (i.e. the portion of the Property defined by the Roble  tenures).

A total of 22 representative samples were recovered during the visit,  from copper-bearing veins from four separate areas on the Property.  Select sample results are tabulated below.

Note: Grab samples are selective by nature and are unlikely to represent average grades of the deposit.

The primary objective of the property evaluation was to evaluate the  mineral potential of the Property based on the continuity and apparent  strike extent of the three Major Veins described in the area, as well as  evidence for a series of secondary, subsidiary and/or en echelon, high  grade, copper mineralized veins. The primary evidence available to  define individual veins are the surface workings excavated to develop  them, primarily in the form of limited surface to near sub-surface  excavations.

On the basis of this initial property visit, the following conclusions were made:

1. Several samples document anomalous levels of silver and gold, which,  together highly anomalous cobalt ( > 4,000 ppm), Lanthanum ( >  2,000 ppm) and Cerium ( > 2,000 ppm), are consistent with the Iron  Oxide-Copper-Gold (IOCG) mineral deposit model;
2. The majority of the samples confirm highly anomalous to potentially  ore grade copper (by definition, as rock grading in excess of 9% Cu can  be shipped to the ENAMI facility at Copiapo as "Direct Shipping Ore");
3. Samples recovered from exploratory trenches, located approximately  6.3 km from the nearest producing veins, are interpreted to indicate  potential for identification of additional, well mineralized,  copper-bearing veins below the extensive eolian sand cover  characterizing the Angela tenures;
4. There is sufficient evidence to support the interpretation that  existing production on the Property can be increased, both in terms of  continued underground development on existing drifts through the  purchase of heavy equipment as well as development of additional  production drifts on other high grade, copper mineralized veins  identified on the Property;
5. There is evidence that the currently identified "Major Veins" and/or  the subsidiary veins identified on and/or adjacent to the Property  potentially extend farther in both directions along strike and to  greater depth than currently tested in the majority of workings to date;  
6. Subsequent work on the Property will be required for both development  (i.e. to increase production on multiple veins) and exploration (i.e.  make a more thorough evaluation of the mineral potential of the  Property);
7. Limited trenching elsewhere on the Property, on an exploratory basis,  has demonstrated potential to identify additional well mineralized,  high grade, copper-bearing veins well beyond those veins currently  known. More specifically, the Major Veins, within the Main Mineralized  Trend, are interpreted to extend through the Angela tenures (which are  largely covered under a blanket of eolian sand of highly variable  thickness) to the southwest; and
8. Further exploration will be required to make a more adequate evaluation of the mineral potential available on the Property.

The Property is interpreted to have considerable potential to increase  production on both existing drifts, as well as developing additional  drifts for production. In addition, the Property is believed to have  considerable potential for discovery of additional high grade copper  mineralized veins through a program of systematic exploration of the  Property.

A primary mandate of the Company is to increase production from the  Property. Therefore, the Company plans to aggressively pursue further  evaluation of the ore, coincident with work to identify opportunities to  increase development of additional high grade mineralized copper veins.

SAMPLES

Note: Grab samples are selective by nature and are unlikely to represent average grades of the deposit.

Samples ALGADG-14 to 16 are representative samples from hand sorted  piles from the active Veta Gruesa Center Drift. Sample ALGADG-14 was  taken from the most recent muck pile prior to hand sorting for grade  separation. Sample ALGADG-15 is a representative sample of "Direct  Shipping Ore" (i.e. ore that can be shipped, with no additional  processing, directly to the government owned ENAMI facility at Copiapo),  while ALGADG-16 is a sample of low grade ore stockpiled for later  processing.

Samples ALGADG 4-5, and 8 to 13 were taken from an area of recent  exploration to expose and develop additional near surface  mineralization, located approximately 500 m west-southwest of the  Production Drift. Representative samples were recovered from shallow  surface trenches excavated to expose copper-bearing veins identified at  surface along the projection of the vein.

Samples ALGA12RW-01-2 and ALGADG1-3 were taken from shallow, near  surface trenches to test for copper-bearing mineralized veins in the  immediate vicinity of an old, sand filled shaft discovered in the eolian  sand cover. These exploratory trenches were excavated approximately 6.3  km southwest of the Veta Gruesa Centre Drift and approximately 1.3 km  from a mapped exposure of the Jurassic Plutón Sierra El Roble, which  hosts for the "Major Veins" documented to the north.

The remaining samples were taken from along a road cut which exposed  dioritic material correlated to the Plutón Sierra El Roble,  approximately 1.2 km east-southeast of the samples above and  approximately 6.3 km southwest of the Veta Gruesa Centre Drift.

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 EXCHANGE COMMISSION.

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:
W: www.swingplaneventuresinc.net
Or contact;
Investor relations: 1-800-253-1692
 

NEW  YORK, NY -- (Marketwire) -- 02/15/13 --  PennyStocks.com focuses on  identifying the hottest small cap companies in today's market. We are  the #1 source for the best penny stocks alerts.

Alerts for today are issued on the following stocks: SWVI, IONAF, and AAMRQ

Swingplane Ventures, Inc. (OTCQB: SWVI) - traded on heavy volume  yesterday and closed up 0.63%at $0.62. On Wednesday the stock had hit a  new all time high of $0.67. The Company announced on Thursday that they  have finalized a share exchange agreement and are moving closer to  acquisition for the Algarrobo property in Chile.

You can read more about SWVI here: http://pennystocks.com/reports/SWVI

Iona Energy Inc. (PINKSHEETS: IONAF) - saw an unusual increase in volume  on Thursday with the stock closing up modestly in the green up 2.83%.  The stock traded 1,407,033 shares in comparison to an average of 112,300  shares yesterday.

You can read more about IONAF here: http://pennystocks.com/reports/IONAF

AMR Corporation (OTCQB: AAMRQ) - American Airlines and US Airways agreed  to an 11 billion merger on Thursday that would create the world's  largest Airline. Shares of AAMRQ hit a new 52-week high of $2.50 with  over $270mil in volume traded yesterday.

You can read more about AAMRQ here: http://pennystocks.com/reports/AAMRQ

For more promising small-cap companies that look poised for upside growth, visit:
http://www.pennystocks.com/lp/?r=news

This report is for information purposes only, and is neither a  solicitation to buy nor an offer to sell securities. Information,  opinions and analysis contained herein are based on sources deemed to be  reliable and are subject to change without notice. A third party has  hired and paid one thousand two hundred and ninety five dollars for the  publication and circulation of this news release. Accordingly, certain  information included herein may be forward-looking within the meaning of  the Private Securities Litigation Reform Act of 1995. No  representation, expressed or implied, is made as to the accuracy,  completeness or correctness. We accept no liability for any losses  arising from an investor's reliance on or use of this report. We do not  and have not had any ownership interest in said third party of any kind.

IO NewsWire
editor@ionewswire.com