Southwestern Resources Corp.

Address:	1650 - 701 West Georgia Street P.O. Box 10102 Vancouver, B.C. Canada V7Y 1C6
Tel No.:	(604) 669-2525
Fax No.:	(604) 688-5175
Web Site:	www.swgold.com
Corporate Email:	mbrown@swgold.com
Contact Person:	Meghan Brown
Position:	Manager, Investor Relations

COMPANY DATA

Traded Market:	TSX
Traded Symbol:	SWG
Outstanding Shares:	45.9 Million
Public Float:	approx. 36 Million
52 Week High:	$ 10.60
52 Week Low:	$ 1.25
Present Price:	Click Here

INTRODUCTION

Southwestern Resources Corp. is a Vancouver-based mineral exploration and development company with an unparalleled portfolio of properties in China and Peru.

The Company's focus is precious metals and their core strength is exploration. They have a history of discovering properties with world-class potential and a proven track record of identifying and capitalizing on opportunities and ideas. With a highly prospective portfolio of properties at various stages of exploration and the financial strength to advance each project to a development decision, Southwestern is well positioned to develop the economic potential of their properties for the benefit of shareholders.

PROPERTIES IN HAND

(1) Liam Gold and Silver Project, Peru

The Liam gold and silver project was first staked by Southwestern in 1995. Today, Liam is a 50/50 joint venture between Southwestern and Newmont Peru Limited. Covering 365,000 hectares, Liam represents the largest single claim block in Peru. From one initial target, the property has grown to include 14 target zones. Of these, six have been drilled, and four more will be drilled in 2007. Extensive metallurgical testing indicates the mineralization at Liam is amenable to low-cost heap leaching. Southwestern will be drilling extensively at Liam in 2007 and advancing the project to the pre-feasibility stage.

(2) Boka Gold Project, China

Southwestern's flagship property is the Boka gold deposit in China, which was discovered by Southwestern in 2002. Boka is widely acknowledged to be one of the most important and significant gold discoveries in China and is conducive to a large-scale mining operation. Today, Boka is a joint venture between Southwestern (90%) and Team 209 of the Yunnan Nuclear Industry of Yunnan Province (10%). Boka comprises three exploration concessions and three mining licenses covering 157 sq.km.

A recent estimate released in December 2006 confirmed Boka's status as a world-class gold project. The report identified measured and indicated resources at Boka 1 totalling 2.1 million ounces of gold, consisting of 31.2 million tonnes grading 3.05 grams per tonne, with an additional 0.8 million ounces of gold in the inferred category consisting of 8.9 million grading 2.66 grams per tonne. An additional inferred resource at Boka 7, as calculated in June 2005, contains an additional 1.3 million ounces of gold, consisting of 14.5 million tonnes grading 2.75 grams per tonne.

A 2005 scoping study identified Boka's potential to support a mining operation in the range of 200,000 ounces per year at total costs in the range of $125 - $175 per ounce. A pre-feasibility study is currently under way, with completion expected in mid-2007. In the meantime, drilling continues with five diamond drill rigs currently operating.

There are 12 known gold zones at Boka, all of which occur within a 25-km long structural zone and are confined to one specific stratigraphic horizon. In addition to the pre-feasibility study under way at Boka 1, the Company is advancing other targets at Boka, including Boka 11, 19, and 7 Lower.

PROJECT DEVELOPMENT

Southwestern Resources Corp. has a number of significant projects under way, including:

Boka - a word-class gold exploration project in China, discovered by Southwestern in 2002 and currently at the pre-feasibility stage.
Liam - a significant gold and silver exploration project in Peru with Newmont Peru Limited, covering 365,000 hectares and representing the largest single claim block in Peru.
Antay - a porphyry copper and gold project in Peru with world-class potential, in a joint venture with Anglo American Exploration Peru S.A. The Antay property covers approximately 50,000 hectares in the prolific Tintaya-Bambas copper belt.
Pacapausa - a gold and silver exploration property covering 7,933 hectares of exploration concessions in southern Peru.
Yunnan - a joint venture with Newmont Overseas Exploration Limited exploring for porphyry copper and gold in a large area of southwestern Yunnan Province, China.
A joint venture heads of agreement with CVRD Inco Limited for nickel, copper and platinum group metals exploration in China.
Numerous other early-stage properties in China and Peru.

SOUTHWESTERN RESOURCES CORP. 2007 OBJECTIVES

In 2007 Southwestern will continue to advance existing projects toward development decisions through ongoing exploration and resource definition. Specifically, the Company will:

Complete the Boka pre-feasibility study and initiate a feasibility study.
Initiate drilling at Numa West, Gran Leon, Aluja and Carmen target zones at Liam, NI 43-101 resource estimates, and initiate pre-feasibility study.
Finalize access agreements and complete drill program at Antay for Sayta target and evaluate other targets.
Complete evaluation of Yunnan Porphyry project in China.
Initiate exploration on the CVRD Inco joint venture property in China.

In 2007 Southwestern will also maintain an aggressive pace of exploration to identify and seize opportunities to add new projects with significant potential. The Company will continue to attract and retain people with excellent technical and management expertise.

MANAGEMENT

Southwestern Resources Corp. has a well management team with experience in different areas.

W. David Black, LLB, BA (1) (2) (4)
Chair & Director
Mr. Black was called to the British Columbia bar in 1967, and practiced as a lawyer specializing in corporate and securities law until December 2003. He now serves as associated counsel. Mr. Black has served on the boards of numerous public and private companies in the natural resource sector. He obtained his Bachelor of Arts degree in Economics and Political Science in 1963 from the University of British Columbia.

Timo Jauristo (3)
Interim President & CEO; Vice President, Corporate Development; Director
Mr. Jauristo has over 26 years experience in the mining industry and over the past five years was the General Manager - Corporate Development for Placer Dome Inc. Mr. Jauristo joined the Placer Group of Companies in 1990 and has held various positions including Senior Project Geologist, Executive Assistant to Vice President - Exploration, Country Manager - Spain, Regional Manager - Southeast Asia, Exploration Manager - Australia, and Manager -Business Development. Prior to joining Placer, Mr. Jauristo worked for Newmont Australia, CSR Limited and Geopeko. Mr. Jauristo was part of the team that discovered the Osborne copper-gold deposit in Queensland.

Most recently, Mr. Jauristo was involved in Placer's acquisition of the North Mara gold mine in Tanzania for US$300 million, and the successful takeover of Auriongold for US$800 million.

Dr. Alex Losada-Calderon
Vice President, Exploration
Dr. Losada-Calderon has more than 20 years experience as an exploration geologist and project manager working on major mining projects throughout Australia, China and the Americas. Prior to joining Southwestern in 2007 he worked for Ausenco Ltd., assigned to Southwestern's Boka project in China as Study Manager.

Thomas W. Beattie, LLB, B.Comm
Vice President, Corporate Affairs & Corporate Secretary
Mr. Beattie has over 25 years of business experience, principally as in-house counsel and in management positions with international mining and exploration companies. In 1980 he joined Placer Dome Inc. as a solicitor, dealing mainly with the legal aspects of foreign exploration. In 1987 he joined Orvana Minerals Corp. and was its Executive Vice President, Chief Financial Officer, and Corporate Secretary until he joined Southwestern in 1996 as Vice President, Corporate Development and Corporate Secretary.

Giovanni N. Susin, CA
Vice President, Finance & CFO
Mr. Susin is responsible for all areas of financial reporting and related aspects of regulatory compliance as well as overseeing the accounting and reporting functions of foreign subsidiaries. He joined Southwestern Resources in 2000 as Controller and was appointed Vice President, Finance and CFO on May 1, 2007.

Stan Myers
Director of Exploration, Latin America
Mr. Myers oversees all of Southwestern's exploration activities in Peru. He has 20 years experience in geology, exploration and project management, including more than 15 years with Newmont.

E. Javier Salas Tamayo, B.Sc. (Geology & Engineering)
Director of Exploration, Peru
Mr. Tamayo is responsible for the implementation of the Company's exploration programs in Peru. He has over 30 years of diversified experience in exploration, evaluation, and development of mineral projects and mines including porphyry copper deposits, medium and small-sized base and precious metal deposits, and low-grade bulk mineable gold deposits.

Tan Shundao
General Manager, China
Mr. Shundao has worked in base and precious metal deposit exploration, target evaluation, and metallogenetic studies for more than 30 years. Prior to joining Southwestern in 1998, he was a senior geologist with the Ministry of Metallurgical Industry of China and the China National Nonferrous Metals Corporation (CNNC).

James Hume, FCA (1) (2) (3) (4)
Director
Mr. Hume, a Chartered Accountant, has held several senior executive positions in businesses involved in investment, development and asset management. He is currently President and CEO of the Kakanoff Group of Companies based in Alberta, which includes the Kakanoff Foundation, Calyx Investments Ltd., and Kanesco Holdings Ltd. The Kahanoff Foundation is one of Canada's largest private foundations.

William D. McCartney, CA (1) (2) (3) (4)
Director
Mr. McCartney has been the President of Pemcorp Management Inc., a company principally involved in providing corporate finance and administrative management services to private and public companies, since 1990. He has been a member of the Institute of Chartered Accountants of British Columbia since 1980 and is a former founding partner of Davidson & Company, chartered accountants.

(1) Member of the Audit Committee
(2) Member of the Compensation Committee
(3) Member of the Environment & Safety Committee
(4) Member of the Corporate Governance & Nominating Committee

NEWS UPDATE

On July 19, 2007, Southwestern Resources Corp. retracted previous announced results for its Boka gold project in China, pending further review and announcement.

Southwestern Resources Corp.'s special committee of independent directors, formed on July 4, 2007, because of the delay in the Boka pre-feasibility study and the resignation of its former Chief Executive Officer, John Paterson, initiated a dual-track process to review all aspects of the Boka project. This included having the Company's senior operating management attend at the project site in China to review its control procedures and results, and having the same reviewed by independent mining consultants. The committee also retained Sangra Moller LLP as independent special counsel to advise with respect to the foregoing matters.

Based upon the results of such review to date, the Company has determined that there were deficiencies in its control procedures for its Boka project and believes this resulted in errors in reported assay results, including those announced in 2007. Additionally, the review indicates that the integrity of certain drill core samples was compromised. As a result, the Company has dismissed John Zhang, its Yunnan-based general manager for the Boka project, and replaced him with a new appointee.

On March 01, 2007 southwestern Resources Corp. in accordance with regulatory requirements, has acquired 1,361,000 shares of Superior Diamonds Inc. on the open market. Southwestern is the largest shareholder of Superior Diamonds, and prior to acquiring the above-noted shares, Southwestern held 6,847,843 shares, or 14.8% of Superior Diamonds' outstanding shares.

On February 21, 2007 Southwestern Resources Corp. has released the results from three further drill holes in the continued resource expansion drilling at the Boka 1 South gold deposit. The highlight of the latest drill result was a 15-gram-per-tonne-gold intersection over 30.4 metres in hole B07-234. This intersection included a higher-grade zone of six metres grading 52.7 grams per tonnes gold. There are presently five diamond rigs operating at the Boka 1 South deposit, which remains open to the north and southeast.

On February 20, 2007 Southwestern Resources Corp. and its partner, Newmont Peru SAC ( a wholly owned Peruvian subsidiary of Newmont Mining Ltd.), have submitted the drilling permit application to the Ministry of Mines for the Numa West zone located in the northeastern part of the 365,000 hectare Liam joint venture area. The joint venture partners have agreed to commence an aggressive drilling program at the Numa West silver zone once the permit is received.

On February 13, 2007 Southwestern resources Corp.'s latest drilling at the Boka gold project has expanded the Boka 1 South gold deposit a further 150 metres to the north. Since the updated resources calculation was announced in December, 2006, continued drilling with five diamond rigs has extended the Boka 1 South gold deposit a total of 250 metres north and the deposit is still open. Highlights of the latest drill results include a 49.2 metre intersected of two grams per tonne gold in hole B06-218 and a 33.90 metre intersection of two grams per tonne gold in B06-224.

On February 07, 2007 Southwestern Resources Corp. has appointed Dr. Alex Losada-Calderon to the position of vice-president exploration. Dr. Losada-Calderon has more than 20 years experience as an exploration geologist and project manager working on major mining projects throughout Australia, China and the Americas for companies such as M.I.M. Holdings Ltd., Western Minerals Technology (a 100% owned subsidiary of LionOre International) and Overseas Mining Investment Pty. Ltd.

On February 05, 2007 Southwestern Resources Corp. has commenced a 2,000 metre exploration drilling program at its Pacapausa silver/gold project in Peru. The drilling program at Pacapausa will comprise eight core drill holes. Pacapausa contains a number of drill target (designeated by Oro Vega as the "Principal, "A,""B,""C,"and"D" target respectively), which consist of northeasterly and easterly trending low-sulphidation epithermal veins and breccia/stockworks.

On February 01, 2007 Southwestern Resources Corp. has received positive drill results for the first phase drilling program on the Millo-Azucar project located in southern Peru. The returns intersection of 317 grams per tonne silver and 2.65 grams per tonne gold over 20.30 metres.

On January 16, 2007, Southwestern Resources Corp. announced that it has appointed Stan Myers to the position of director of exploration, Latin America. Mr. Myers has 20 years of experience in geology, exploration and project management, including more than 15 years with Newmont. Most recently, he was project manager for Newmont Peru Ltd.'s Nassau project in Suriname.