Anglo Swiss Resources Inc.
OTC Bulletin Board : ASWRF

Anglo Swiss Resources Inc.

June 05, 2006 14:55 ET

Anglo Swiss Resources Completes Year One on LI 201 Diamondiferous Kimberlite Lac de Gras, NWT

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to report that the it has completed the first year of exploration expenditures required under the Option Joint Venture Agreement (the "Agreement") dated June 24, 2005 with New Shoshoni Ventures' LI 201 diamondiferous kimberlite property, Lac de Gras, NWT.

The Company acquired the property in June of 2005 consisting of 42 contiguous mineral claims, located immediately to the west of Fry Inlet Lake and directly 25 km east of the Ranch lake kimberlite and 25 km north of the BHP Billiton Diamonds Inc. Ekati Mine property. The claims were acquired in two separate transactions in June of 2005; the New Shoshoni option/joint venture for up to 60% (23,587 hectares) and the PQ claims for a 100% (13,586 hectares) interest totalling over 37,173 hectares. This property is known as the Fry Inlet Diamond property.

Under the first year of the Agreement, Anglo Swiss has met its obligations as defined in Section 2 whereby the Company has made the following payments to NSV:

i) $25,000 on or before July 31, 2005, firm commitment; paid.

ii) $30,000 on or before May 25, 2006; paid.


iii) incur the following minimum annual expenditures on the Property:

iv) $200,000 on or before twelve months from the date of Exchange approval of this Agreement; completed.

In the second year of the Agreement, Anglo Swiss will incur a minimum of $400,000 in exploration expenditures and make a cash payment of $35,000 prior to May 25, 2007. Results of the initial 2006 air-borne geophysical exploration program consisting of 1,695 line-kilometers are completed and results are due shortly.

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 reponsibility for the adequacy or accuracy of this release.

Contact Information

  • Anglo Swiss Resources Inc.
    Len Danard
    President & CEO
    (604) 683-0484
    (604) 683-7497 (FAX)
    Anglo Swiss Resources Inc.
    Barrie Field-Dyte
    Investor Relations
    (778) 773-8933 or Toll Free: 1-800-533-6663