OTTAWA, ONTARIO--(Marketwire - Dec. 23, 2011) -

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Green Swan Capital Corp. (TSX VENTURE:GSW.H) ("Green Swan" or the "Corporation") is pleased to announce that a Filing Statement dated December 23, 2011 prepared in accordance with the requirements of the TSX Venture Exchange (the "Exchange") has been filed with the Exchange and the applicable Canadian securities regulators and is available under Green Swan's corporate profile on SEDAR at [ www.sedar.com ]. The Qualifying Transaction consists of Green Swan acquiring an option to purchase up to a 70% interest in certain mining assets from Melkior Resources Inc. ("Melkior"). Details of the Qualifying Transaction are set forth in the Filing Statement dated December 23, 2011 and press release dated August 15, 2011, a copy of which can be obtained under Green Swan's corporate profile on SEDAR at [ www.sedar.com ].

The Corporation further announces that the Exchange has granted conditional approval in respect of the proposed Qualifying Transaction.

The Corporation has established December 30, 2011 as the date for the closing of the Qualifying Transaction and the concurrent private placement financings, details of which are set forth in the Filing Statement dated December 23, 2011 and press release dated December 2, 2011, a copy of which can be obtained under Green Swan's corporate profile on SEDAR at [ www.sedar.com ] (the "Financings"). Green Swan has engaged Fin-XO Securities Inc. to act as agent (the "Agent") with respect to a portion of the Financings.

In accordance with the policies of the Exchange, the common shares of Green Swan (the "Common Shares") are currently suspended from trading. It is expected that the Common Shares will be reinstated for trading on the Exchange, after all requirements of the Exchange have been satisfied, following completion of the Qualifying Transaction.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, final Exchange acceptance.

Investors are cautioned that, except as disclosed in the Filing Statement to be filed in connection with this Qualifying Transaction, any information released or received with respect to this Qualifying Transaction may not be accurate or complete and should not be relied upon.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.