Gungnir Resources Inc V.GUG

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Anglo Swiss Resources Closes Private Placement for $1,300,000 - August 23, 2007 3:47PM ET Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) announces it has closed a private placement previously announced on July 13, 2007. The placement was oversubscribed for proceeds of $1,300,000. The placement consisted of $1,070,500 in flow through ("FT") funds and $229,500 in non flow ("NFT") through funds. Each FT unit will consist of one common share (the "FT Shares") and a one-half flow through warrant; each whole warrant is exercisable to purchase an additional FT Share at a price of 20 cents for one year from the closing date. Each NFT unit consisted of one common share (the "NFT Shares") and a one-half warrant, each whole warrant is exercisable to purchase an additional NFT share at a price of 15 cents for six months from closing or at a price of 30 cents for 18 months from the closing date. The shares and warrants are subject to trading restrictions for 4 months and one day from the closing date of August 10, 2007. The proceeds of the private placement will be used for continued exploration on the Company's Canadian exploration properties that qualify for Canadian Exploration Expenses ("CEE") and for general working capital. For further information, investors are asked to visit the Anglo Swiss Resources Investor Relations Hub at www.agoracom.com/IR/AngloSwiss or email to [e-mail]. About Anglo Swiss Resources Inc. Anglo Swiss Resources is a Canadian mining company engaged in the acquisition and exploration of mineral properties. Its exploration properties include: four distinct claim groups located in the Lac de Gras region of the NWT (diamonds), and in south-eastern British Columbia the historic Kenville Gold Mine (copper, gold, silver and molybdenum), the Blu Starr Gemstone Property (sapphire, iolite, garnet and graphite) and the McAllister Pipe Property (lamproitic diatreme - diamonds). To find out more about Anglo Swiss Resources, visit our website at www.anglo-swiss.com. The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. SOURCE: Anglo Swiss Resources Inc. Anglo Swiss Resources Inc. - Corporate Inquiries Len Danard President & CEO [phone]