Message #6 From:
NewsBot Date: June 30, 2005 10:24:20 AM
ASWRF News Research Anglo Swiss Resources Inc,Stock Trading Message Board
Anglo Swiss Resources Acquires Additional Lac de Gras Diamond Claims-Interest in Excess of 108,000 Acres in the NWT.
Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to report it has entered into an agreement with a private prospecting syndicate, whereby Anglo Swiss will acquire a 100% interest in 13 mineral claims PQ 1-13, covering approximately 33,572 acres in the Lac de Gras area of the NWT.
These claims are contiguous to the recently optioned Li 201 property (New Shosohoni Diamondiferous Kimberlite Option announced June 27, 2005) and trains of Kimberlite Indicator Minerals ("KIM's") have been observed on these claims. The property is underlain by rocks of the Slave Craton, which locally host the Ekati and Diavik diamond mines (approximately 60 and 90 kilometres from the Li 201 property respectively).
In light of the close proximity to a known diamondiferous kimberlite and the presence of KIM's, management is of the opinion that this property is highly prospective for the discovery of diamonds and that the acquisition of these claims significantly enhances the Company's property position in the Lac de Gras region.
This acquisition is subject to Exchange approval and requires the Company to make cash payments totalling $50,000 and issuing 5,000,000 shares of Anglo Swiss to the vendors. The Vendors retain a 2% gross overriding royalty ("GORR") on any diamond production, of which the Company may purchase 1% point for $1,000,000. A kimberlite "discovery bonus" is included by which the Company will pay to the Vendors 250,000 common shares for each new kimberlite discovered, to a maximum of 1,000,000 shares.
Anglo Swiss Resources Inc. now has an interest in over 108,487 acres of mineral claims in the Lac de Gras area which hosts two producing diamonds mines and has extensive known diamondiferous kimberlites and KIM's throughout the area. The Company also controls 100% of the 76,570 acre McAllister property (News release dated January 20, 2005) located in south-eastern British Columbia, which has been identified as the host of a potential diamondiferous lamproite.
Anglo Swiss Resources-Lac De Gras Acquisition; Diamondiferous Kimberlite Optioned
Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to announce that it has entered into an agreement with New Shoshoni Ventures Ltd. ("New Shoshoni"), whereby Anglo Swiss may earn up to a 60% interest in the New Shoshoni's Li 201 Kimberlite property.
The Li 201 property, which covers approximately 58,284 acres, is underlain by rocks of the Slave Craton, which locally host the Ekati and Diavik diamond mines (approximately 60 and 90 kilometres from Li 201 respectively). The area covered by the property was previously explored during 1996 and 1997 by a joint venture operated by Kennecott Canada Exploration. Work at that time included regional scale till sampling to identify kimberlite indicator mineral ("KIM") trains, airborne and ground geophysical surveying and diamond drilling of selected targets. One new occurrence of kimberlite material was identified as a result of this program (Li 201) and is located on the claims. This kimberlite occurrence consists of kimberlitic mud, various xenoliths and mantel-derived nodules. The material is diamondiferous, and results of caustic fusion analysis performed by the Kennecott Canada Exploration micro diamond recovery plant at Thunder Bay, Ontario, are shown in the accompanying table.
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CAUSTIC FUSION RESULTS
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Diamonds Diamonds
With one With all Number Number
Dimension Dimensions Diamonds Diamonds Total Total
greater than less than In 1.0mm In 0.5mm Diamond Kilograms
DDH 0.5mm 0.5mm Sieve Sieve Count Processed
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97LI201-02 7 27 0 1 34 168.8
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97LI201-04 7 19 1 2 26 112.3
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TOTALS 60 281.1
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Taken from Assessment Report prepared by Kevin Wallis, on the ICE and
CIE claims, filed by Kennecott Canada Exploration Inc. for work
performed between March 1996 and March 1998.
Anglo Swiss may earn an initial 50% interest in the property by incurring $3,000,000 in exploration expenditures on the property ($200,000 in the 1st year; $400,000 in the 2nd year, $800,000 in the 3rd year and $1,600,000 in the 4th year), issuing 400,000 shares to New Shoshoni upon TSX Venture Exchange (the "Exchange") approval, and making total cash payments of $130,000 to New Shoshoni.
Anglo Swiss may earn an additional 10% interest in the property by incurring an additional $3,200,000 in exploration expenditures on the property within 60 months of Exchange approval of the agreement.
New Shoshoni will also receive kimberlite bonuses for new kimberlites discovered on these claims. The first kimberlite discovery would result in the issuance of 250,000 shares of Anglo Swiss to New Shoshoni, subsequent kimberlite discoveries would result in the issuance of 100,000 shares each, up to a cumulative total of 1,000,000 shares.
The Li 201 property is subject to a 3% Gross Overriding Royalty, 1/3 of which can be purchased by Anglo Swiss and New Shoshoni (on a pro-rata basis) for $2,500,000.
This acquisition is subject to Exchange approval.
Glen Macdonald, P. Geo., a Qualified Person under National Instrument 43-101, has approved the technical content of this News Release.
On behalf of the Board,
Len Danard, President & CEO
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)
Anglo Swiss Resources Inc.
Len Danard
President & CEO
(604) 683-0484
Fax: (604) 683-7497
angloswiss@shaw.ca
www.anglo-swiss.com
