Anglo Swiss Resources Announces Iolite 'Water Sapphire' Gemstones Discovered at the Blu Starr Sapphire Property.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 18, 1998-- ANGLO SWISS RESOURCE (ME:ASW) (OTC Bulletin Board:ASWC) Anglo Swiss Resources Inc.(ASW-M, ASWC-OTCBB) announces the discovery of a new iolite gemstone, often referred to as "water sapphire", occurrence on their 13,097 acre Blu Starr Property, located in British Columbia's Slocan Valley.

"We've experienced an excellent season" stated Len Danard, Anglo's President. "These new gemstones, plus the recently discovered gem quality garnets, are welcome additions to our family of gemstones. Previously discovered crystals include: star cabochon sapphire, aquamarine, beryl, tourmaline, titanite, moonstone and several varieties of smoky, rose and star quartz."

Iolite has a remarkable feature known as pleochroism, meaning the colour changes when viewed from different directions, usually dark blue-violet, pale-blue, grey or yellow. Well-formed iolite crystals over 1500 carats in weight have been found, and many crystals exceed 100 carats. The company is sorting and stockpiling facet-grade material for shipping to Sri Lanka for cutting. In excess of 50,000 carats of iolite crystals have already been obtained by company personnel.

This new iolite discovery occurs within a distinct litho-stratigraphic horizon, and has been followed for more than two kilometres along strike in outcrop and talus by James Laird, Anglo's Exploration Manager, who is credited with the discovery. Access to this location is excellent, and intensive prospecting for additional discoveries is in progress. Extraction of sapphire/garnet/iolite is ongoing to ensure continued supply for shipment to Sri Lanka for facetting, in order to build up a larger inventory of finished gemstones, prior to offering the gemstones to the marketplace.

An exploration access track has been completed to the recently discovered Sapphire Hill site. Three separate areas of mineralization continue to produce well-formed blue-grey rough sapphires. Management estimates that 15,000 carats of rough sapphire has already been extracted from this showing. A small shipment of this material has been sent to Sri Lanka for preliminary heat-treatment testing to enhance the colour and clarity of the stones. It is an accepted fact in the jewelry industry that over 90 percent of the gem-grade sapphires have been subjected to heat treatment.

For more information on the Company, please visit the website at www.anglo-swiss.com.

On behalf of the Board,

Len Danard, President & CEO