Proactiveinvestors Australia

Caravel Minerals www.caravelminerals.com.au/

Caravel Minerals (ASX:CVV), formerly Silver Swan Group, is an Australian listed gold and base metals explorer with projects throughout Western Australia and Queensland.

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Silver Swan Group targets gold copper with tenement acquisition at Quinns

Silver Swan Group (ASX: SWN) has entered a binding agreement to acquire 14 square kilometres of prospective gold, copper and zinc tenements at its Quinns Project in Western Australia.

The new tenements at Quinns are contiguous and enable Silver Swan to consolidate existing holdings with existing tenements creating economies of scale and boosting potential profit. The tenements contain three prospects requiring immediate follow-up.

The agreement is with Gledich & Associates Pty and Maryanne Gledich to purchase a 100% stake in their tenements at Quinns, located 55 kilometres south of Meekatharra.

Silver Swan will provide cash payment of $200,000 and will issue one million shares. An additional cash payment of $200,000 depends upon Silver Swan achieving a 250,000 ounces gold JORC Indicated Resource or better on the tenements on or before 20 April 2016.

The company must also issue two million performance shares convertible to fully paid shares in Silver Swan conditional upon the company reaching a 350,000 ounces gold JORC Indicated Resource or better, or the completion of a Bankable Feasibility Study on the tenements, on or before 30 April 2016.

The purchased area has been worked for surface gold at the prospecting level for several years, primarily alluvial gold and high grade nugget gold associated with quartz veins within a few metres of the surface.

The tenements are also near the old mining area of Murchison Wonder. The Quinns area has a recorded historic production of around 17,000 ounces for the period of 1891 to 1938 that does not include gold mined from alluvials or prospectors since the 1940s.

At a minimum, gold extracted to 1938 represents $25 million at today’s gold price.

Historical highlights from reverse circulation drilling at the nearby Murchison Wonder include:

 - 3 metres at 5.6% zinc and 7.2 grams per tonne (g/t) gold;
 - 7 metres at 0.94% copper and 10.2g/t silver; and
 - 2 metres at 1.9% copper and 20.5g/t silver.

The new tenements comprise both the north and south limbs of the Quinns anticline in the prospective stratigraphy that hosts the Austin VMS discovery.

The company will commence a field review next week of the area for anticipated “walk-up” drill targets as well as detailed geological mapping and ground physics over the new area.

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