Anglo Swiss Options Graphite Discovery to Crystal Graphite Corporation.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--May 15, 2001 Anglo Swiss Resources Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASWRF)(ME:ASW ASW Antisubmarine Warfare ASW Approved Social Worker ASW Application Software ASW a Small World (online community) ASW Art Supply Warehouse ASW Artificial Sea Water ASW Australian Standard White (wheat) .) is pleased to announce that in conjunction with its joint venture partner, Hampton Court Resources Inc., (the "Optionors"), have entered into a Mineral Property Option Agreement, (the "Option") with Crystal Graphite Corporation the ("Optionee"). Anglo Swiss Resources and Hampton Court have granted Crystal Graphite the right to acquire a registered interest from the Optionors to mine, extract and process any and all graphite material on certain of their property in the Slocan Valley, British Columbia, known as the Blu Starr Gemstone gemstone Any of various minerals prized for beauty, durability, and rarity. A few noncrystalline materials of organic origin (e.g., pearl, red coral, and amber) also are classified as gemstones. property. The Option which is subject to regulatory approvals, expires on December 31, 2001 gives Crystal Graphite Corporation the opportunity to complete exploration, bulk sample testing and any other due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. deemed necessary on the Optionors' property. Upon the exercise of the Option, Crystal Graphite Corporation will receive exploration rights for a period of five years, which will commence upon the issuance of a mines permit. The initial term will be renewable twice, for five years each, at the election of the Optionee. Upon exercising the option Exercising the option The act of buying or selling the underlying asset via the option contract. , the Optionee will advance the Optionors, US$40,000 towards the first royalty payments. Payment for the graphite material extracted will be US$4.00 per bank cubic metre for the first 24 months from the date of issuance of the mine permit, and thereafter will be adjusted quarterly based on an average selling price The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. of graphite. Upon exercising of the Option, Crystal Graphite Corporation "the Optionee", grants the Optionors the right to mine and extract gems on certain of the Optionee's property in the Slocan Valley for a Net Royalty of 3% on the same terms as the primary option to the Optionee. Crystal Graphite President, Gordon Sales, stated, "With the Anglo Swiss/Hampton Court prospect located adjacent to our plant site, any additional graphite material can be economically transported to our site for processing. Recent metallurgical testing on our graphite indicated excellent flotation characteristics and with additional beneficiation beneficiation Treatment of raw material (such as pulverized ore) to improve physical or chemical properties in preparation for further processing. Beneficiation techniques include washing, sizing of particulates, and concentration (which involves the separation of valuable , produced an extremely high fixed carbon grade of 99.51%. We fully expect the graphite material on this optioned property to approximate the same results." |
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