Anglo Swiss Resources Inc. Acquires NWT Diamond Claims.VANCOUVER, British Columbia -- Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASWRF)(BERLIN:AMO) is pleased to report that agreement has been negotiated for the Company to purchase a 100% interest in the TILL 1-7 mineral claims, located approximately 110 kilometers northwest of Yellowknife, NWT. The TILL claims cover dispersion trains of kimberlite indicator minerals identified in till sampling programs. The Company's new claims lie within a region of active diamond exploration by other diamond explorers and are midway between the Crosslake area kimberlites (Ashton, DeBeers, Diamonds North, et al) and the "Big Hole" target (GGL Diamond). The Anglo Swiss TILL claims are underlain by the Slave Craton which hosts producing diamond mines at Lac de Gras Lac de Gras is a lake approximately 300 km north of Yellowknife, Northwest Territories, Canada. Lac de Gras was the centre of the Canadian diamond rush of the 1990s. There are two working diamond mines in the area, Ekati Diamond Mine, and Diavik Diamond Mine. (Ekati and Diavik Mines) some 200 kilometers to the north-east. The Company is compiling historic data from earlier exploration in the area and will use the information along with new results to design exploration for the source of the indicator mineral trains. Anglo Swiss has agreed to purchase the TILL claims from three Yellowknife prospectors, the "Vendors", (M. Braden, L. Dewar and T. Teed), for 900,000 common shares and $20,000; subject to receiving regulatory approval. The Vendors retain 2% gross overriding royalty ("GORR GORR Gross Overriding Royalty ") on any diamond production, of which Anglo Swiss may purchase 1% point for $1,000,000. A kimberlite "discovery bonus" is included by which the Company will pay to the Vendors 150,000 common shares for each new kimberlite discovered. On behalf of the Board, Len Danard, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept reponsibility for the adequacy or accuracy of this release. Anglo Swiss Resources Inc. (TSX VENTURE:ASW) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ASWRF) (BERLIN:AMO) |
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