Anglo Swiss Resources Inc.: Private Placement & Board Disclosure.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 24, 2001

Anglo Swiss Resources Inc.(OTC:ASWRF)(CDNX:ASW) has arranged a non-brokered private placement for 325,000 units of the company at a price of 12 cents per unit, subject to the approval of the Canadian Venture Exchange.

Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company for a period of one year at a price of 15 cents. The common shares will be subject to a four-month hold period.

The seven participants involved in the aforementioned private placement are all at arms-length to the company and there is no finder's fee payable. The proceeds from the private placement will be used for general working capital.

At the request of the CDNX, the company announces that there were five directors elected at the Annual General Meeting held in Vancouver, June 21, 2001. The current directors are Len Danard, Chris Robbins, Brian Canfield, Conrad Kathol and Leroy Wolbaum. Mr. McPherson resigned as a director effective April 25, 2001.

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

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.