Green Swan Announces Drill Results on Geneva Lake and Provides Update on Mikayla Sale

Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW) announces diamond
drilling results from its Phase 1 program on its 100% owned Geneva Lake Property
("Geneva Lake"). The program's goals were achieved, on budget and on schedule.


Geneva Lake, Ontario

Geneva Lake consists of four mineral claims located within the Benny Greenstone
Belt in Hess Township in northern Ontario, north of Sudbury. Highway 144
provides access to the area, with logging roads providing access to, and
through, these claims.


The former Geneva Lake Mine (Pb-Zn-Ag) is located on these claims, which mine
produced 80,588 tons of ore with a grade of 3.34% lead and 9.21% zinc from 1941
to 1944 (see OGS report 206, Geology of the Benny Area). Historic data from that
period (which data is not NI 43-101 compliant and cannot be relied upon)
suggests that high grade base metal mineralization (approximately 44% combined
Pb + Zn) may be found at Geneva Lake. 


This Phase 1 drill program was Green Swan's first stage of exploration on Geneva
Lake. There is not yet an accurate map of the underground workings with respect
to surface. The two main goals of this program were therefore to make an initial
assessment of the claims, and in particular, of volcanogenic massive
sulphide-style, base metal mineralization remaining underground in proximity to
the historic underground workings, and to help locate such workings relative to
surface. 


Hole 4 intersected the underground workings and could not proceed. The remaining
four holes were drilled to their respective target depths. Hole 5 did not
produce any significant sulphides. Holes 1, 2, and 3 intersected mineralization,
as tabulated below:




      ---------------------------------------------------------------
                    From       To Length     Ag     Cu     Pb     Zn 
       Hole          (m)      (m)    (m)  (g/t)    (%)    (%)    (%) 
      ---------------------------------------------------------------
       1          140.00   142.00   2.00   0.24   0.01   0.17   0.58 
      ---------------------------------------------------------------
       2          253.00   257.00   4.00   0.06   0.01   0.05   0.48 
      ---------------------------------------------------------------
       Incl.      255.00   256.00   1.00    2.7   0.02   0.01   0.83 
      ---------------------------------------------------------------
       3(i)       157.00   166.00   9.00   0.02   0.01   0.03   0.46 
      ---------------------------------------------------------------
       Incl.(i)   160.00   162.00   2.00   0.04   0.02   0.04   0.95 
      ---------------------------------------------------------------
                                                                     
      (i) Note: True widths have not been calculated and are         
      therefore not known at this time.                              



In general, Holes, 1, 2 and 3 documented low grade, but anomalous, base metal
mineralization over widths between 2.00 and 9.00 m. The holes were separated
from one another by between 75 and 325 m. Holes 4 and 5 were located above and
slightly north of the underground workings (based on available data). Holes 1 to
3 are believed to have been located between 75 and 125 m southwest of the
underground workings. 


Collar information is as follows:



  -----------------------------------------------------------------------
   Hole      Easting     Northing  Inclination      Azimuth   Length (m) 
  -----------------------------------------------------------------------
   1          460485      5182135          -76          243          301 
  -----------------------------------------------------------------------
   2          460695      5181886          -80          226          301 
  -----------------------------------------------------------------------
   3          460594      5181909          -49           53          301 
  -----------------------------------------------------------------------
   4          460549      5181174          -45          270           13 
  -----------------------------------------------------------------------
   5          460729      5182991          -50          258         50.5 
  -----------------------------------------------------------------------
                                                      Total        996.5 
  -----------------------------------------------------------------------



Although the holes did not intersect any of the high grade, base metal
mineralization that is historically reported to remain underground and adjacent
to the underground workings comprising the Geneva Lake Mine, they did document
anomalous mineralization tentatively interpreted to comprise a halo to the
mineralized horizon(s). 


To test this interpretation, Green Swan has completed both Crone Geophysics and
Earthprobe downhole geophysical surveys. The results are expected to provide a
better understanding of the sub-surface mineralization and allow identification
of additional targets for subsequent drilling. Results of these surveys will be
released once received and evaluated by the Company, which is expected to be in
the near future. 


QA-QC: All samples were submitted to Actlabs Laboratories ("Actlabs") for
analysis. Actlabs is an independent certified laboratory and preparation
facility which maintains an ISO 17025 accreditation by the Standards Council of
Canada (SCC).


Mikayla, British Columbia

Green Swan announced on November 26, 2012 that it had completed an airborne
magnetic survey of Mikayla in southeast British Columbia. Mikayla covers 1144
hectares and is located in the Okanagan Valley in southeast British Columbia,
roughly 15 km south of Xstrata Canada's Brenda Mine (molybdenum), and close to
the Crowrea and Empress properties (Nevada Clean Magnesium Inc. / Goldrea
Resources Corp. joint venture), both of which are molybdenum properties
(www.nevadacmi.com). 


The airborne survey at Mikayla represents Phase One of exploration. It covered
approximately 220 kilometres, flown at 100 metre line spacing. Management has
now received the final data from this survey and will release the results as
soon as possible. The scope, budget and nature of Phase Two of exploration at
Mikayla will be carried out in the first half of 2013.


The transaction with Interactive Capital Partners Corporation, announced on
January 8, 2013, whereby Mikayla will be the basis for the Interactive Capital
Partners Corporation Qualifying Transaction, continues as planned.


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.


Forward-Looking Statements 

This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. Green Swan cautions that actual performance will be affected by a
number of factors, many of which are beyond its control. Future events and
results may vary substantially from what Green Swan currently foresees.
Discussion of the various factors that may affect future results is contained in
Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability
for repeating or referring to any facts, statements, releases, data or reports
disseminated by any other issuer. Any reference to any other issuer should be
cross-checked for accuracy and context by the reader. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Green Swan Capital Corp.
Peter M. Clausi
CEO
1-416-890-1232
[e-mail]