Anglo Swiss Resources Inc.

Anglo Swiss Resources Inc.

March 08, 2005 08:01 ET

Anglo Swiss Resources-Corporate Update-Diamond Indicator Minerals


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ANGLO SWISS RESOURCES INC.

TSX VENTURE SYMBOL: ASW
OTC Bulletin Board SYMBOL: ASWRF
BERLIN SYMBOL: AMO

MARCH 8, 2005 - 08:01 ET

Anglo Swiss Resources-Corporate Update-Diamond
Indicator Minerals

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - Anglo Swiss
Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) has issued
this release in response to the numerous shareholder queries regarding
the indicator mineral results from the McAllister lamproite pipe
announced on March 4, 2005.

The Company is very pleased that numerous indicator minerals were found
in the first sample, weighing only 840 grams (1.85 lbs.). The sample
yielded 5 chromites, 98 clinopyroxenes, 75 olivines, 269 orthopyroxenes
and nil garnets. Generally indicator minerals for diamond include, in
order of decreasing significance: garnet, chromite, ilmenite,
clinopyroxene, olivine, and zircon. Different indicator minerals are
more important for kimberlite and others for lamproite. Management's
research indicates that garnets are not a common indicator in lamproites.

Based on the high count of indicator minerals in the first sampling of
the McAllister pipe, additional sampling will be undertaken as soon as
snow conditions permit. This program will initially involve extensive
sampling from at least three locations, which will be sent to three
accredited labs for analysis. Drilling, trenching and bulk sampling will
be part of a comprehensive exploration program currently being designed
on the 31,000 ha. property.

A second 24kg. sample from the McAllister lamproite was mistakenly
examined for diamond content only, not indicator minerals, and there
were no microdiamonds observed; which is not surprising due to the size
of the sample. During the bulk sampling stage of a pipe, diamond grades
are usually referred to as "carats per hundred tonne" and an overall
grade of less than 1 carat/tonne is common. The weight of one carat
equals 5 grams, one tonne of ore equals 1,000,000 grams.

The Company believes that a second diatreme has been identified
approximately 4 kilometres from the McAllister lamproite pipe, which
suggests that a cluster of pipes may be present in the area. 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.

Please visit our website at
"www.anglo-swiss.com/main/properties/mcallister_pipe_reports.htm" to
view photos of this surface lamproite pipe and for more information on
diamond exploration.

There are various stages in diamond exploration. The following is a very
brief and general guideline:

1. Survey of the area using airborne geophysics or regional indicator
mineral sampling to find magnetic anomalies or indicator mineral trails
that may lead to a kimberlite/lamproite pipe.

2. Extensive ground magnetic, indicator mineral sampling, drilling and
trenching of the defined prospective target area.

3. Discovery of a kimberlite/lamproite pipe/dike. Then numerous sampling
over its area for distribution of indicator mineral composition and
possibly micro-diamond content. (Anglo Swiss will be implementing this
stage on the McAllister lamproite pipe as soon as weather permits.)

4. If sampling then yields promising micro-diamond content, bulk testing
of the pipe to assess the grade, distribution and value to extrapolate
potential grade of commercial-sized diamonds.

5. If values and tonnage are promising then pre-feasibility study and
more drilling, delineation drilling, geotechnical drilling and more bulk
sampling towards tonnage, grade and value estimates.

6. Feasibility and environmental studies, permitting and mine planning.

7. Construction and mining.

On behalf of the Board,

Len Danard, President & CEO

THE COMPANY RELIES ON LITIGATION PROTECTION FOR "FORWARD LOOKING"
STATEMENTS.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Anglo Swiss Resources Inc.
    Len Danard
    President & CEO
    (604) 683-0484
    (604) 683-7497 (FAX)
    info@anglo-swiss.com
    www.anglo-swiss.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.