May 19, 2010 (Filing Services Canada) -- Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF - OTCBB), has entered into an Option to Purchase Agreement with 4 individuals wherein Anglo Swiss may acquire a 100% interest in the Mammoth Copper-Gold property, subject to regulatory approvals.
The Mammoth Copper-Gold Property consists of 4 contiguous staked mineral claims covering 210 hectares. Consideration from Anglo Swiss consists of payments totaling $34,000 plus 180,000 Anglo Swiss common shares by the 3rd anniversary of the Agreement. The Agreement is subject to a Royalty Interest of a 3% net smelter return, Anglo Swiss may at any time purchase the Royalty Interest for $500,000.
The Company has also staked 1136.43 hectares of contiguous mineral claims to the Mammoth Copper-Gold property increasing the Nelson Mining Camp to over 16,000 hectares or 160 square kilometers. The Mammoth Copper-Gold Property is situated on the southeastern borders of Anglo Swiss' Nelson Mining Camp.
Historical, non NI 43-101 compliant results from the Mammoth property include 21.95 m of 0.627% Cu intersected in drill core (1972) and high grade gold values of up to 0.94 oz/T returned from quartz-arsenopyrite stringers exposed in trenches.
This acquisition was a result of the recently completed Aeroquest Aerotem III survey and geological compilation on the Nelson Mining Camp project. A total of 1,749 line km were flown and preliminary interpretation defined a strong conductive zone within the Company's newly acquired claim group through the Mammoth Copper-Gold property to the south. The Aeroquest survey interpretation has defined three strong conductive zones named Silver Lynx, Gold Hill and Mammoth. Drilling is expected to start immediately upon the Company receiving its initial drill permits.
The 2010 exploration programs are designed to systematically test the potential of numerous gold, silver and poly-metallic targets over this newly consolidated land package by placing exploration data from a historical mining district into a modern framework.
About Anglo Swiss
Anglo Swiss Resources Inc. is a mineral exploration company with its current focus on gold, silver and base metals at its 160 square kilometer Nelson Mining Camp located to the south west of Nelson, British Columbia. The Nelson Mining Camp is situated along the Silver King Regional Shear Zone striking for over 10 kilometers. The Silver King Shear is the host to numerous, historical gold, silver and poly-metallic mines in southeastern British Columbia including Anglo Swiss' 100% owned Kenville Gold Mine. Please visit the Company's website at www.anglo-swiss.com for more information on the Company and its projects.
Company contacts:
Len Danard
President and Chief Executive Officer
Tel: (604) 683-0484
Fax: (604) 683-7497
Email: info@anglo-swiss.com
Investor Relations Contacts:
Jeff Walker or Grant Howard
The Howard Group Inc.
Toll Free: 1-888-221-0915
www.howardgroupinc.com
Reader Advisory
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
Source: Anglo Swiss Resources Inc.(ASW - TSX-V) (ASWRF - OTCBB)
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