Anglo Swiss Resources Inc.
OTC Bulletin Board : ASWRF

Anglo Swiss Resources Inc.

March 02, 2007 10:00 ET

Anglo Swiss Resources Receives Report on the Fry Inlet Diamond Property, NWT

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to announce it has received a report on the interpretation of the 2006 Fugro Airborne Survey ("Fugro") data titled "Report on the Geophysical Data on the Fry Inlet Project, Lac de Gras, NWT, Canada by Jeremy S. Brett, M.Sc., P.Geo., MPH Consulting Limited ("MPH")." The full report is available on the Company's website

The MPH findings have far exceeded management's expectations as over 220 anomalies have been identified on the eastern portion of the Fry Inlet Property with 73 of the anomalies generated categorized as High-Priority by MPH. A total of 1,695 line-kilometers were flown in 2006 by Fugro with approx. E-W 100 meter line-spacing. Single-sensor Magnetic and five-sensor Electromagnetic data were collected. The report states the airborne geophysical data is of excellent quality.

MPH has identified 39 Magnetic anomalies conforming to an idealized Lac de Gras style intrusive diatreme (16 ranked as "A" and "23" as B+). There were another 34 Electromagnetic anomalies (10 ranked as "A" and 24 as "B+") again conforming to an idealized diatreme model - prime contexts for the possibility of diamond bearing kimberlites.

Anglo Swiss Resources' has initially selected a cluster of 7 targets including the significantly diamondiferous LI-201 kimberlite for drilling this year. This pipe produced 14 macrodiamonds and 46 microdiamonds from a previous drill program in the 1990's. Kennecott tested 281 kilograms of rock and found just 60 diamonds, but that could be misleading. Kennecott limits its diamond recoveries to stones larger than a 0.15 millimetre cut-off, a significantly larger limit than most other labs employ. As well, 14 of the stones measured longer than 0.5 millimetre in one dimension, and one was large enough to sit on a one-millimetre sieve. That sparks hope that the body could contain larger stones.

The Company plans to have Fugro survey the western portion of the Fry Inlet Property, approx. 2,398 line-kilometers, as there also appears to be a cluster-like assemblage of 5 targets to the north-west with 7 indicator mineral trains ("KIM's") apparent. The trains appear to be dominated by eclogitic garnet and picroilmenite grains.

Anglo Swiss Resources:

- owns a 100% interest in the "Strategically Located Group of Claims" covering approximately 10,330 acres situated within the diamond producing area of the Lac de Gras region. These claims are each situated in very close proximity to diamondiferous kimberlites currently being explored by Archon, BHP Billiton, Peregrine, Southernera, Kennecott, Shear and others.

- owns the Falcon Bay Diamond Property consisting of a 100% interest in claims covering approximately 52,459 acres in the diamond producing area of Lac de Gras, NWT approximately 25 kilometers south of the Diavik property. These claims are west of Peregrine's WO project and north of the Jordan Kimberlite.

- owns a 100% interest in the Fishing Lake Diamond Property, located some 110 kilometers north of Yellowknife, NWT, toward the western margin of the Slave Craton. The Fishing Lake property covers 8,467 acres.

The Company plans to have Fugro survey these claims as well in 2007, approx. 3,212 line-kilometers. In light of the close proximity to producing diamond mines, the presence of numerous diamondiferous kimberlites and kimberlite indicator minerals, management is of the opinion that the claims are highly prospective for the further discovery of diamonds.

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.

Contact Information