Message #4 From:
NewsBot Date: February 17, 2005 11:23:36 PM
ASWRF Anglo Swiss Resources Inc. Adds to its Diamond Exploration Property
Anglo Swiss Resources Inc. Adds to its Diamond Exploration Property
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 17, 2005--Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) has received regulatory approval regarding the Option to Purchase Agreement of the Iva Fern Group of claims, previously announced on February 3, 2005.
The Agreement provides for a payment of $50,000 plus 200,000 common shares to be paid in instalments on the anniversary dates of the Agreement, ending February 1, 2010. The common shares issued are subject to a four-month hold period and are subject to restrictions on resale prior to June 1, 2005.
The claims are situated within the Company's 31,000 ha. "McAllister Claim Group" in southeastern BC and compliments the existing holdings. The McAllister Group of claims is located 13.5 kilometres southeast from the City of Nelson, British Columbia. The company's original claim in this area, the McAllister Diatreme, has been identified as the host of a potential diamondiferous lamproite. The company is currently awaiting results from a 20kg. sample being tested for indicator minerals.
Anglo Swiss has acquired a significant land base including additional areas of interest in the Nelson Mining District, where Anglo Swiss discovered its first diatreme. Anglo Swiss President, Len Danard stated, "We believe we have located a second diatreme approximately 4 kilometres from the McAllister Diatreme, which suggests that a cluster of diatremes may be present in the area. This new development is a perfect complement to our existing gemstone properties in south-eastern British Columbia."
Additional work is needed and warranted on this exciting discovery and a comprehensive exploration program is currently being designed by W.G. Timmins, P.Eng & G. C. Macdonald, P.Geo. Both are qualified persons by NI43-101 definition, and are familiar with exploration for and experienced in discovery of diamond bearing kimberlite diatremes in the Northwest Territories.
On behalf of the Board,
Len Danard, President & CEO
THE COMPANY RELIES ON LITIGATION PROTECTION FOR "FORWARD LOOKING" STATEMENTS.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Anglo Swiss Resources Inc. (TSX VENTURE:ASW) (OTC Bulletin Board:ASWRF) (BERLIN:AMO)
Contacts
Anglo Swiss Resources Inc.
Investor Relations
(604) 683-0484
Fax: (604) 683-7497
info@anglo-swiss.com
www.anglo-swiss.com
OR
Daimler Partners
Mr. Peter Holt
(604) 605-8522
