Gungnir Resources Inc V.GUG

ASW

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Anglo Swiss Resources Performs Geophysical Program Over Alkalic Porphyry Copper (+/-Gold, Silver, Molybdenum) Target on the Kenville Mine Property Prior to Drilling - October 3, 2007 4:00PM ET Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to announce it has retained Insight Geophysics Inc. of Oakville, Ontario to evaluate a 1000+ meter (3280 feet) north-south indicated porphyry target on the western portion of the Kenville Mine property. The 2007 IP surveys were carried out over an area of the property containing strongly anomalous coincident values in copper, gold, silver and molybdenum, obtained from previous soil sampling programs. The Kenville Mine property, located 10 kilometers west of the City of Nelson, in south-eastern British Columbia, is 100% owned by Anglo Swiss Resources Inc. The 2007 Geophysical Program consisted of approximately 17 kilometres of IP Chargeability and Resistivity surveys over the presently established geochemical grid. The geophysical surveys were carried out on 50-meter line spacing's throughout 1,100 meters (3,609 feet) of north-south extent of the established grid area. East-west grid lines averaged approximately 700 meters to cover the strongest portion of the coincident geochemical anomaly, which is variable in width between 100 meters to 300 meters. Results of this geophysical work, in combination with past geochemical surveys and drill programs are being evaluated to design the upcoming 2007 diamond drilling program to test the mineral zone throughout its indicated extent. The Phase 1 drill program consisting of at least 8 diamond drill holes will be carried out along the strike of the anomalous zone and will total approximately 1,500 metres (4,921 feet) of drilling. The Company is planning a Phase 2 program of an additional 5,000 meters (16,400 feet) upon evaluation of the Phase 1 drill program. The Kenville Mine property consists of staked mineral claims totaling 335.82 hectares and 15 Crown Granted Mineral Claims for another 180.88 hectares. The Company also holds surface rights to 38 hectares. Facilities at the Kenville Mine Property include a shop, core storage area, an engineering office, an office and assay lab, compressor facilities, a Mine Manager's residence and mill facility. The mill facility consists of a coarse ore bin, jaw crusher, cone crusher and fine ore bin, with a crushing capacity of 125 short tons/day. The underground workings at the Kenville Gold Mine are extensive. The 257 level and the 217 heading were rehabilitated in 1986 with trackage and air supply piping to these two levels. Underground mine facilities are complete with all necessary mining and safety equipment on site. Electric power is supplied by the City of Nelson. Fresh water is supplied from nearby Eagle Creek. The Kenville Gold Mine is one of the oldest and most prolific producers in the district, producing intermittently from 1890 to 1954, with the bulk of production from 1899 to 1912. Government records indicate past production from 181,295 tonnes mined totaled: 2,029 kilograms of gold or 4,473 pounds, 861 kilograms of silver or 1,848 pounds, 23.5 tonnes of lead or 51,808 pounds, 15 tonnes of zinc or 33,069 pounds, 1.6 tonnes of copper or 3,527 pounds and 37 kilograms of cadmium or 81.5 pounds. A previous drill program during 1995 and 1996, performed by Teck Exploration Ltd. (TeckCominco) on the porphyry target zone, intersected numerous anomalous to locally economic mineral values including: 1.03% copper (20.6 lbs/ton), 8.18 g/t (0.29 oz/ton) silver, 439 ppm Mo across 8.7 metres (28.5 feet) in drill hole TK-95-03 0.70% copper (14 lbs/ton), 1.12 g/t (0.04 oz/ton) gold, 6.7 g/t (0.2 oz/ton) silver across 4.2 metres (13.8 feet) in drill hole TK-95-02 82.15 g/ton (2.9 oz/ton) gold, 34.1 g/ton (1.2 oz/ton) silver across 0.25 metres (0.82 feet) in drill hole TK- 95-05 0.228% (4.5 lbs/ton) copper and 365 ppb gold across 7.6 metres (24.9 feet) in drill hole TK96-05 The 1995-1996 Teck program consisted of 12 drill holes totaling 2,427 metres (7,962 feet). Generally strong alteration is present throughout the majority of the Teck drill holes, with locally strong concentrations of gold, copper, silver and molybdenum. The company believes that the results of past drilling programs in combination with recent geochemical and geophysical programs, are indicative of a potential porphyry system of significant extent and grade. The most prospective geochemical and geophysical anomalies on the Kenville property remain untested by diamond drilling. The preceding excerpts from the 1995 and 1996 Teck reports on the work programs on the Kenville property predate the NI 43-101 standards and are historical in nature. 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: www.anglo-swiss.com Anglo Swiss Resources holds key gold (British Columbia) and diamond (North West Territories) properties in close proximity to successful mining operations. The Company has completed its 2007 drilling on the Fry Inlet diamond project. All kimberlite-bearing drill core has been sent to the Kenville Mine property for splitting, prior to being forwarded for laboratory diamond analysis. Drilling will begin shortly on the Kenville gold project near Nelson, British Columbia. 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]. To find out more about Anglo Swiss Resources, visit our website at www.anglo-swiss.com. The Contents of this release have been approved by Greg Thomson, P. Geo., a Qualified Person as defined in NI 43-101. 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] [phone] (FAX) Email: [e-mail] Website: www.anglo-swiss.com The Howard Group Inc. Jeff Walker Investor Relations - Canada Toll Free: 1-888-221-0915 The Howard Group Inc. Grant Howard Investor Relations - Canada Toll Free: 1-888-221-0915 Website: www.howardgroupinc.com Investor Awareness Inc. Tony Schor Investor Relations - United States