OTTAWA, ONTARIO--(Marketwire - Oct. 31, 2011) - Green Swan Capital Corp. (TSX VENTURE:GSW.H) ("Green Swan"), a Capital Pool Company, announces that the private placement of 428,571 common shares previously announced on August 31, 2011 has not been completed due to an inability of the subscriber to meet all closing conditions. The shares proposed to be issued in this private placement were not issued to the subscriber. Green Swan currently has 7,755,000 common shares issued and outstanding.

Green Swan is pleased to announce it has received a subscription for the completion of a private offering of 428,571 common shares for a net aggregate amount of $30,000. The closing of this private placement is subject to the approval of the NEX and the shares issued pursuant to the private placement will be restricted from trading for four months from the date of closing.

ON BEHALF OF THE BOARD OF DIRECTORS

Mr. Dan Hilton

Cautionary note: This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

This press releasemay contain forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The Companyhas not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at [ www.sedar.com ].

Cautionary Note to US investors: This is not an offer for sale, or solicitation of an offer to buy, in the United States or to any U.S. Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) of any equity shares or any other securities of Green Swan or Melkior. The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.