Anglo Swiss Resources Inc.: Financing Proposed for Gem Properties.

VANCOUVER, British Columbia -- Anglo Swiss Resources Inc. (OTCBB: ASWRF) (TSX VENTURE: ASW) (BERLIN: AMO) will be raising up to $600,000, through a private placement of units, subject to receipt of all required approvals. The proceeds of the private placement will be used for general working capital, further exploration of the Blu Starr Gemstone property and prospecting for additional gemstone properties of merit in south-eastern British Columbia.

The Blu Starr Gemstone property is located in the Slocan Valley, south-eastern British Columbia. The property consists of 6200 hectares (15,312 acres) of mineral tenure rights plus an additional 650 hectares (1606 acres) of placer mineral rights contained in 13 placer claims. Exploration to-date on less than 10% of the claim group has yielded dozens of gem outcrops at surface. The Sapphire Hill Zones 1, 2 and 3 from east to west, occur along a strike length of almost 2 kilometres. The property hosts numerous occurrences of sapphire (15), iolite or gem-cordierite (11), gemstone quality garnet (2), as well as a flake graphite deposit; other minerals include aquamarine (beryl), tourmaline, titanite, moonstone and several varieties of quartz crystals.

"This assemblage is similar to the highland/Southwestern Complex of rocks of Sri Lanka (which consist of granulite-facies metamorphic rocks such as garnetiferous biotite gneisses, garnet-sillimanite-biotite gneisses, calc-silicate gneisses, amphibolite and especially calciphye, charnockite and cordierite bearing gneisses), that have produced some of the world's largest alluvial gemstone deposits.

The lenses hosting the gemstones on the Blu Starr property appear to be localized within a few hundred meters of startigraphy, near the base of the upper plate high grade metamorphic rocks of the Valhalla-Passmore Domes, just above the Gwillim Creek shear zone. Regionally, the prospective stratigraphy consists of metasedimentary rocks including quartzo-feldspathic gneiss, amphibolite gneiss, calc-silicate gneiss and marble, metamorphosed to upper amphibolite facies, associated with pegmatities" (Walton, 1996).

Previous exploration has confirmed that the geological setting and potential gem grades (carats per tonne) of the numerous showings are extremely promising. Proposed 2004 work programs have been submitted and are awaiting approval from the Ministry of Energy and Mines.

Anglo Swiss will sell up to 6 million units at a subscription price of 10 cents per unit. Each unit shall consist of one common share and one share purchase warrant, with each share purchase warrant entitling the holder to purchase one additional common share at a price of 15 cents (exercisable on or before the first anniversary of the closing date of the private placement). The corporation may pay commissions or finders' fees and may issue warrants (at a price not less than the issue price of the units) to registered dealers or others entitled to receive commissions under applicable law on the sale of the units, the payment of such being subject to regulatory approval.

On behalf of the Board,

"Len Danard"

President & CEO 

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