ASX / MEDIA RELEASE 2 March 2010STIRLING WINS GOLD C SWAN...

ASX / MEDIA RELEASE 2 March 2010
STIRLING WINS GOLD C SWAN GOLD
Western Australian resources developer Stirling Resources (ASX: SRE) has completed the
recapitalisation of Monarch Gold and will now move towards restarting operations immediately.
Stirling settled the transaction on Friday 26th February. This means the Administrator has retired and a
new Board of Directors will take control of the Carnegie and Mt Ida gold assets in the West Australian
Goldfields. Stirling Resources will own and control 37% of the Company.
All Monarch shareholders will retain their full number of existing Monarch shares in the newly
rebadged company Swan Gold Mining Limited.
The Company is aiming to reach full production in 12 months, with a target production rate of 100,000
ounces per year and will make immediate application to re-list on the ASX as Swan Gold Mining
(ASX:SWA).
Stirling Resources Managing Director Michael Kiernan said the successful recapitalisation was a
significant step towards production and cash flow for all shareholders.
Today marks the rebirth of the Company as Swan Gold. This transaction has taken a considerable
amount of work, but we have remain committed to delivering this outcome and we would like to
acknowledge the Administrator Bryan Hughes for his cooperative approach throughout this period,
and more particularly the support of new shareholders who have facilitated this milestone, Mr Kiernan
said.
The completion of this transaction leaves Swan Gold well placed to move quickly into production,
capitalise on the strong gold market and deliver value for shareholders, he said.
Mr Kiernan said significant amount of planning work had already been undertaken during the past six
months in readiness for production.
Mining consultants SRK have been reviewing the Carnegie open pit mining plans for the Riverina,
Sandking and Missouri pits, and we have engaged Barcon Logistics for mining and general
contracting activities, Mr Kiernan said.
It is anticipated that first mining will commence at Carnegie in four to six weeks, with a targeted
production of 60,000 ounces per year.
At Mt Ida, the Company is in negotiations for toll treatment of up to 40,000ozpa of ore at a third party
mill. Swan Gold is aiming to commence Mt Ida operations in the June quarter.
Swan Gold has a Board and management team with significant gold experience in the Goldfields
region (biographies below). For a corporate overview on Swan Gold, please visit
www.swangoldmining.com.au
For more information:
Michael Kiernan Warrick Hazeldine/Ryan McKinlay
Managing Director Purple Communications
Tel: 08 6389 6800 Tel: 08 6314 6300/0417 944 616