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April 2, 2012

Sunward Drills 121.6 Metres Grading 0.70 Grams per Tonne Gold at Chisperos

Discovery of additional new porphyry gold-copper body at Chisperos
Infill drilling at Cerro Vetas returns 189.9 metres from surface averaging 0.782 grams per tonne gold equivalent

Vancouver, British Columbia: Sunward Resources Ltd. ("Sunward" or the "Company") (TSX: SWD; OTCQX: SNWRF) is pleased to announce further successful results from drilling at the Chisperos zone and the ongoing resource infill drill program at the Cerro Vetas zone at the 100%-owned Titiribi Project ("Titiribi" or the "Property"), located approximately 70 kilometers southwest of Medellin, Colombia. Eleven drill rigs have been operating on the Property on a round-the-clock basis since November 2011, with results to date suggesting considerable expansion and enhancement of the known mineralized bodies at these zones, which currently host an NI 43-101 compliant Indicated Mineral Resource of 2.2 million ounces gold (within 142.94 million tonnes grading 0.480 grams per tonne gold and 0.148% copper, using a 0.3 grams per tonne gold cut-off), along with an additional Inferred Mineral Resource of 6.08 million ounces gold (within 372.7 million tonnes grading 0.507 grams per tonne gold and 0.078% copper, using a 0.3 grams per tonne gold cut-off; see Report dated September 2011 available at www.sunwardresources.com and on SEDAR).

"The discovery of a new gold-copper porphyry target at Chisperos is further evidence of the extensive mineral endowment of Titiribi," said Colin Andrew, Sunward's President and Chief Executive Officer. "These significant drill results, coupled with the proximity of this zone to the more substantial Cerro Vetas zone, open up important scale-related opportunities at Titiribi which is emerging as one of the most significant gold-copper districts in the world. The recent infill drilling campaign at Cerro Vetas provided strong support for potential optimization of mining operations. The drill hole CV062, which returned 189.90 metres from surface averaging 0.512 grams per tonne gold and 0.141% copper, or 0.782 grams per tonne gold equivalent, and added to earlier drilling in this area, will be particularly important when Sunward commences work on the economic aspects of Titiribi."

The holes reported in this news release represent a portion of the currently-budgeted 40,000-metre drill program. Assays from further holes will be released as they become available.

CHISPEROS ZONE

Recent drilling at the Chisperos zone was designed by Sunward to test a number of new geological interpretations for the mineralized body here, following the discovery of epithermal mineralization containing free native gold, often as laminae within hairline banded chalcedony veinlets. The Chisperos zone is of particular interest given that earlier reported metallurgical testwork has demonstrated that greater than 80% of the gold here can be recovered by simple gravity methods.

Recent drilling guided by the new geological model for Chisperos has been successful in identifying longer and higher-grade mineralized intercepts than previously observed for this zone. Best intercepts from the recent drill program include 121.6 metres averaging 0.701 grams per tonne gold from 28.0 metres downhole depth in drillhole CP014; 62.66 metres averaging 0.621 grams per tonne gold in drill hole CP015 from 43.2 metres downhole depth; 41.7 metres averaging 0.762 grams per tonne gold in drill hole CP017 from 120.8 metres downhole depth along with 35.65 metres averaging 0.931 grams per tonne gold from 524.55 metres downhole depth. Significantly, the free gold mineralization at Chisperos often returns higher assay values when analyzed by metallic screen methodologies, with previous check assays having generally shown increased average gold values of up to 20%. The results of such screen assaying for recent drill holes will be reported once available.

In addition to the epithermal mineralization typical of Chisperos, recent drilling was successful in intersecting a new porphyry target, with a number of holes returning significant levels of copper sulphide mineralization. Hole CP024 intersected a dioritic intrusive carrying porphyry gold-copper mineralization, returning 59.8 metres assaying an average of 0.315 grams per tonne gold and 0.104% copper from 177.2 metres downhole depth. Similar mineralization in hole CP026 where 20.3 metres averaging 1.076 grams per tonne gold and 0.105% copper from 700.7 metres was also intersected.

Hole No. Azimuth Incl. From To Int Au g/t Cu % Au Eq g/t
                 
CP014 205 -50 28.00 149.60 121.60 0.701 0.016 0.732
  and 415.97 432.50 16.53 0.403 0.035 0.470
  and 471.00 475.50 4.50 1.289 0.063 1.410
  and 531.00 542.55 11.55 0.551 0.031 0.610
                 
CP015 205 -50 43.20 105.86 62.66 0.621 0.014 0.648
  and 140.60 183.10 42.50 0.477 0.012 0.500
  and 198.69 205.00 6.31 2.858 0.014 2.885
  and 393.60 418.20 24.60 1.017 0.034 1.082
  and 481.50 495.10 13.60 0.786 0.060 0.901
  and 511.30 522.60 11.30 0.395 0.031 0.454
  and 543.00 553.80 10.80 0.461 0.033 0.524
                 
CP016 205 -50 71.90 78.60 6.70 0.376 0.006 0.388
  and 150.24 174.30 24.06 0.404 0.016 0.435
                 
CP017 205 -50 57.80 74.00 16.20 0.403 0.009 0.420
  and 120.80 162.50 41.70 0.762 0.014 0.789
  and 267.50 281.87 14.37 0.440 0.017 0.473
  and 497.00 510.50 13.50 0.481 0.029 0.537
  and 638.00 656.00 18.00 0.366 0.030 0.424
                 
CP018 205 -50 28.35 41.85 13.50 0.628 0.006 0.640
                 
CP019 205 -52 42.70 62.70 20.00 0.568 0.016 0.599
  and 163.00 178.20 15.20 0.634 0.014 0.661
  and 225.35 235.85 10.50 0.794 0.029 0.850
  and 526.80 555.30 28.50 0.518 0.038 0.590
  and 562.80 582.00 19.20 0.344 0.027 0.396
  and 594.00 604.50 10.50 0.415 0.013 0.440
                 
CP020 205 -51 Assays awaited        
                 
CP021A 205 -62 Assays awaited        
                 
CP022 205 -50 Assays awaited        
                 
CP023 205 -50 84.30 97.80 13.50 0.338 0.005 0.348
  and 524.55 560.20 35.65 0.931 0.020 0.969
                 
CP024 205 -52 177.20 237.00 59.80 0.315 0.104 0.514
                 
CP026 205 -49 580.00 588.60 8.60 0.559 0.020 0.597
      636.00 681.00 45.00 0.368 0.075 0.512
      700.70 721.00 20.30 1.076 0.105 1.277
                 
Gold Equivalents calculated using a price of Au at US$ 1,114 per Toz and Cu at US$ 3.07 per lb

Note: Cut-offs stated at 0.3 grams per tonne gold

CERRO VETAS ZONE

In the Cerro Vetas zone, recent drilling has been successful at infilling gaps within the existing drill pattern and also continuing to explore the south-eastern fringe of the porphyry body. Highlights of the latest drill holes are as below.

Drill hole CV061 encountered a sequence of brecciated basic metamorphics containing strong mineralization and returned 270.0 metres averaging 0.479 grams per tonne gold and 0.257% copper (0.972 grams per tonne gold equivalent), from 464.5 metres downhole depth.

Drill hole CV062 intersected multiple mineralized sections including 189.9 metres from surface averaging 0.512 grams per tonne gold and 0.141% copper (0.782 grams per tonne gold equivalent) within dioritic intrusives, and a further intersection of 132.5 metres (from 558.0 metres downhole depth) within metabasalts and breccias averaging 0.468 grams per tonne gold and 0.192% copper (0.836 grams per tonne gold equivalent) along with several narrower, but significant, intersections.

Drill hole CV065 intersected 132.3 metres from near surface (2.1 metres downhole depth) averaging 0.425 grams per tonne gold and 0.189% copper (0.787 grams per tonne gold equivalent) within several sills and dykes of diorite cutting hydraulically fractured breccias.

Drill hole CV066 intersected multiple mineralized sections within diorites and associated intrusive breccias including 266.7 metres (from 181.3 metres downhole depth) averaging 0.416 grams per tonne gold and 0.234% copper (0.865 grams per tonne gold equivalent) and a further intersection of 176.8 metres (from 459.2 metres downhole depth) averaging 0.640 grams per tonne gold and 0.196% copper (1.016 grams per tonne gold equivalent) with a further intersection of 69.6 metres (from 817.0 metres downhole depth) averaging 0.558 grams per tonne gold and 0.027% copper (0.610 grams per tonne gold equivalent).
Drill hole CV069 returned 145.0 metres averaging 0.465 grams per tonne gold and 0.153% copper (0.758 grams per tonne gold equivalent) from 285.5 metres downhole depth through a sequence of diorites and dioritic intrusive breccias, amongst additional mineralized intersections within potassic-altered diorites.
A complete table of intercepts for recent drilling at Cerro Vetas is included below. A map of these drill hole locations can be found at www.sunwardresources.com.

Hole No. Azimuth Incl. From To Int Au g/t Cu % Au Eq g/t
                 
CV059 322 -50 320.60 343.10 22.50 1.047 0.034 1.112
  and 415.70 444.50 28.80 0.412 0.042 0.493
                 
CV060 142 -55 0.00 53.80 53.80 0.305 0.140 0.573
                 
CV061 142 -55 464.50 734.50 270.00 0.479 0.257 0.972
  and 863.50 875.50 12.00 4.566 0.047 4.656
                 
CV062 322 -54 0.00 189.90 189.90 0.512 0.141 0.782
  and 222.70 240.50 17.80 0.394 0.063 0.515
  and 422.85 438.60 15.75 0.727 0.089 0.896
  and 465.10 516.15 51.05 0.345 0.177 0.684
  and 558.00 690.50 132.50 0.468 0.192 0.836
                 
CV063 321 -50 322.10 403.50 81.40 0.301 0.175 0.637
                 
CV064 230 -60 Assays awaited        
                 
CV065 142 -58 2.10 134.40 132.30 0.421 0.188 0.776
                 
CV066 322 -50 181.30 448.00 266.70 0.416 0.234 0.865
  and 459.20 636.00 176.80 0.640 0.196 1.016
  and 817.00 886.60 69.60 0.558 0.027 0.610
                 
CV067 228 -84 Assays awaited        
                 
CV068 142 -51 103.40 113.00 9.60 0.306 0.167 0.626
  and 145.50 151.50 6.00 0.752 0.135 1.011
  and 210.00 235.00 25.00 0.870 0.165 1.186
  and 269.00 307.50 38.50 0.337 0.135 0.596
  and 321.00 351.85 30.85 0.313 0.121 0.545
  and 674.80 701.00 26.20 0.342 0.124 0.580
  and 723.00 731.00 8.00 0.319 0.088 0.488
  and 776.00 827.00 51.00 0.549 0.087 0.716
                 
CV069 142 -51 42.00 84.00 42.00 0.399 0.117 0.623
  and 96.50 149.50 53.00 0.432 0.129 0.679
  and 160.00 217.50 57.50 0.332 0.122 0.566
  and 285.50 430.50 145.00 0.465 0.153 0.758
Gold Equivalents calculated using a price of Au at US$ 1,114 per Toz and Cu at US$ 3.07 per lb

Note: Cut-offs stated at 0.3 grams per tonne gold

Colin J. Andrew, CEng MIMMM, FGS is a qualified person under National Instrument 43-101, and has reviewed and is responsible for the contents of this news release.

Sample Preparation Assays QA/QC:

Drill core was logged, cut and sampled by Sunward personnel at the Company's facilities in Colombia. In the case of the drilling results referred to herein the samples were prepared at Inspectorate America's sample preparation facility in Medellin, Colombia and then analyzed at Inspectorate America's ISO 9001:2000 accredited laboratory in Reno, Nevada, USA, a facility that follows internationally accepted methods and procedures and has stringent quality control and assurance practices.

At the sample preparation facility in Medellin the samples were crushed to >80% passing -10 mesh using a terminator jaw crusher; split to 250 grams; pulverized using a LM2 ring pulverizer to over 90% passing -150 mesh; split into 125 grams aliquots which were then sent to Inspectorate America's laboratory in Reno for assay. Gold was analyzed by fire assay with Inductive Coupled Plasma (ICP) finish with a lower detection limit of 2 ppb. Samples above 5 grams per tonne were assayed by fire assay with gravimetric finish. In addition to gold a suite of 30 other elements including silver and copper were assayed by ICP-AES following an aqua regia digest. Blanks, field and laboratory duplicates duplicate samples and a number of internationally approved and registered analytical standard samples were routinely randomly inserted into the preparation and analysis process as part of Sunward's normal quality assurance and quality control program. Any analytical batch of assays wherein inserted standards assayed without the acceptable limits are rejected.




ABOUT SUNWARD:

Sunward Resources is a well-capitalized, Canadian-based company focused on the exploration and development of gold/copper porphyry projects in Colombia. The 100%-owned Titiribi Project is located approximately 70 kilometres southwest of the city of Medellin, Colombia, in Antioquia department, within the historical Titiribi mining district (estimated total production of 1.5 to 2 million ounces gold equivalent). Access is by paved highway from Medellin.

Titiribi hosts an NI 43-101-compliant Indicated Mineral Resource of 2.2 million ounces of gold within 142.94 million tonnes grading 0.480 grams/tonne gold and 0.148% copper and an Inferred Mineral Resource of 6.08 million ounces of gold within 372.7 million tonnes grading 0.507 grams/tonne gold and 0.078% copper, both assessed using a 0.3 grams/tonne gold cut-off. Based on the above, Titiribi also hosts 465.9 million pounds of copper in the Indicated Resource and 645.7 million pounds of copper in the Inferred Resource. Titiribi thus contains 3.50 million ounces of gold equivalent in the Indicated Resource category and a further 7.90 million ounces of gold equivalent in the Inferred Resource category, calculated on the basis of gold price of $1,114 per ounce and copper price of $3.07 per pound (See Report dated September 2011 available at www.sunwardresources.com and on SEDAR.)

Corporate Contact:
Brenda Dayton
604.568.7617
brenda@sunwardresources.com

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.