SOURCE: Anglo Swiss Resources Inc.

March 04, 2008 08:00 ET

Anglo Swiss Confirms the LI-201 Kimberlite Is Diamond Bearing

VANCOUVER, BC--(Marketwire - March 4, 2008) - Anglo Swiss Resources Inc. (TSX-V: ASW) (OTCBB: ASWRF) (BERLIN: AMO) ("Anglo Swiss"), or the 'Company,' is pleased to announce that it has received caustic fusion diamond results from the Company's LI-201 kimberlite pipe, located in the Northwest Territories.

Drilling on the LI-201 kimberlite was carried out over the period August 22 to September 19, 2007. The drilling program consisted of 5 core holes, totaling 421.6 meters (1383.2 feet). Two of the drill holes contained intercepts of LI-201 kimberlite. Drill holes Y07-04 and Y07-05 intersected kimberlite totaling 20.25 meters and 14.75 meters, respectively. The material sampled from these two drill holes had a combined weight of 58.0 kg, and was obtained from 6 separate sub-samples of split NQ size drill core. The samples were sent to C.F. Minerals Research Limited, of Kelowna, British Columbia for processing and indicator mineral and microdiamond recovery, and a total of 30 diamonds were recovered. Table 1 below shows the stone size distribution for the combined sample.

TABLE 1: Diamond distribution in CIM square mesh sieve classes (mm)

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Combined     0.106     0.15    0.212     0.3    0.425   0.6    Total
Weight(kg)   Sieve     Sieve   Sieve     Sieve  Sieve   Sieve
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58             7         9       1                               17
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Note: 13 additional micro-diamonds passed through a 0.106 mm square mesh sieve for a total diamond count of 30 micro-diamonds. In total, 17 diamonds greater than 0.106 mm have been recovered, which equates to 293 diamonds ( > 0.106 mm) per tonne of kimberlite.

The drill program tested geophysical targets as well as to confirm the location and nature of the previously discovered LI-201 kimberlite. Due to ongoing mechanical problems throughout the drill program, and with the onset of winter conditions, the drilling program was considerably reduced from its originally intended 1500-meter program.

A drilling program previously carried out on the LI-201 kimberlite in 1997 by Kennecott Canada Exploration Inc (KCEI) provided 281.1 kilograms of kimberlite sample from 2 drill holes (97LI 201-02 and 97LI 201-04). Caustic Fusion analysis by KCEI of this material resulted in the recovery of 60 diamonds, three of which were macrodiamonds (2 sat on a 0.5 mm sieve and one sat on a 1 mm sieve).

The results obtained from the latest study confirm the diamondiferous nature of the LI-201 kimberlite. The company has conducted airborne geophysics over the body and believes that potential exists for additional phases of kimberlite beyond the area of the current drill intersections. Additional work on the compositions of the indicator mineral recovered and analyzed by C.F. Minerals from LI-201 is currently being carried out by Mineral Services Canada Inc. of North Vancouver, B.C. Mineral Services Canada Inc. will be retained to carry out interpretive studies pertaining to future diamond exploration programs by Anglo Swiss.

With only 4 drill holes that have intersected the LI-201 kimberlite (2 by Kennecott and 2 by Anglo Swiss) over a small area (50 m by 75 m), the overall size and nature of the kimberlite zone requires further evaluation and testing. Anglo Swiss is in the third year of a five year option agreement with New Shoshoni Ventures Ltd. that allows Anglo Swiss to earn a 60% interest in the Fry Inlet property be incurring $6,200,000 in exploration expenditures.

At present, Anglo Swiss is in the planning stages for carrying out a detailed program of ground geophysics that will test the known area of the LI-201 kimberlite and to locate extensions or larger masses related to the known kimberlite zone. The LI-201 kimberlite zone is located on the immediate edge of a small lake. Due to the recessive nature of kimberlite bodies, the small lake may represent a topographic depression caused by partial glacial erosion of a larger hidden body of kimberlite. The known area of the LI-201 kimberlite may represent a linear dike structure of kimberlite emanating from a larger kimberlite body underlying the adjacent lake. Part of the proposed geophysics program will be carried out over the lake area to test the hypothesis of a hidden kimberlite body under the lake.

The technical contents of this release have been approved by Greg Thomson, P. Geo., a Qualified Person as defined in NI 43-101.

About Anglo Swiss

Anglo Swiss is a mineral exploration company focused on creating shareholder value through the acquisition and development of quality precious/base metal and gemstone properties that have undiscovered resource potential. The company is actively exploring and drilling its 100% owned, advanced staged Kenville Gold Property located in southeastern British Columbia with the goal of developing a world-class porphyry copper and gold deposit. The company is also in the process of exploring a diamondiferous bearing kimberlite property, known as the Fry Inlet Diamond Property, located in the Lac de Gras region of Canada's Northwest Territories in which it has the right to earn up to a 60% interest pursuant to an option and joint venture agreement with New Shoshoni Ventures Ltd.

For further information, investors are asked to visit the Anglo Swiss Resources Investor Relations Hub at www.agoracom.com/IR/AngloSwiss or email to ASW@agoracom.com. Please visit the company's website at www.anglo-swiss.com or contact:

Len Danard
President and Chief Executive Officer
Tel:  (604) 683-0484
Fax:  (604) 683-7497
Email: info@anglo-swiss.com

Investor Relations Contacts:

United States:

Tony Schor or Jim Foy
Investor Awareness Inc.
1-847-945-2222
http://www.investorawareness.com

Canada:

Jeff Walker or Grant Howard
The Howard Group Inc.
Toll Free: 1-888-221-0915
www.howardgroupinc.com

Reader Advisory

This press release contains forward-looking statements which are based on Anglo Swiss' current internal expectations, which may prove to be incorrect. These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, Anglo Swiss' need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions; and competition for, among other things, capital and skilled personnel. Anglo Swiss undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Contact:

    Len Danard
    President and Chief Executive Officer
    Tel: (604) 683-0484
    Fax: (604) 683-7497
    Email: Email Contact

    Investor Relations Contacts:

    United States:

    Tony Schor or Jim Foy
    Investor Awareness Inc.
    1-847-945-2222
    http://www.investorawareness.com

    Canada:

    Jeff Walker or Grant Howard
    The Howard Group Inc.
    Toll Free: 1-888-221-0915
    www.howardgroupinc.com