Anglo Swiss Resources Inc.: Clarification Of May 3, 2000 News Release.

Business Editors

VANCOUVER, B.C--(BUSINESS WIRE)--May 16, 2000

Anglo Swiss Resources, Inc. (ME:ASW.)(OTCBB:ASWRF)

At the request of the Montreal Exchange the Company has been asked to make the following clarifications to the recent news release announcing the Joint Venture Agreements on both the Catamayo River Property in southern Ecuador and the Blu Starr Property in British Columbia.

Catamayo River Property

The independent geological report dated January 1997 by Geoffrey Garcia, P.G., is an estimation of alluvial gold contained within the concession; based on work performed by Company personnel. Any reference to the terms "resource," "production" or "operating cost/revenue" is not considered valid as no qualified feasibility or engineering reports have filed to date. Hampton Court, as the operator under the terms of the Joint Venture Agreement, performed their due diligence on the Property prior to completing the Agreement.

The Joint Venture Agreement is subject to regulatory approvals and a feasibility/engineering report must be filed for exchange approval prior to commencement of any production.

Blu Starr Gemstone Property

The Company wishes to emphasize that, although the Blu Starr property has demonstrated the potential to host gem-quality sapphire, iolite and garnet, the property is at an early stage of evaluation and considerable studies of the mineralized areas and the production and recovery process remain to be completed.

The evaluation by David Barclay as to the size and potential of the iolite showings was not based on any geological assessments or drill programs. Mr. Barclay visited the site at the Company's request and concurred with the Company's estimation as to the size (width, length of strike, and minimum depth) of two of the six iolite outcrops.

A detailed feasibility study will be required to accurately estimate the potential capital and operating costs to bring the iolite, sapphire or garnet deposits into large-scale production. The fact that the deposits are located at surface in an easily accessible area and are only a few miles from Anglo's wholly-owned Kenville Mine processing facilities will favorably impact costs of the potential development. The method and cost of excavation and processing will be evaluated and determined as the project evolves.

Development of the Blu Starr property is in its early stages and significant work remains to be done in the evaluation of the various mineralized deposits, extraction methods and processing techniques.

On behalf of the Board, Len Danard, President & CEO