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Anglo Swiss Resources Inc. OptionsMammoth Copper-Gold Property
5/19/2010 9:00:10 AM - BusinessWire
VANCOUVER, May 19, 2010 (BUSINESS WIRE) --
Anglo SwissResource Inc. has entered into an Option to Purchase Agreementwith 4 individuals wherein Anglo Swiss may acquire a 100%interest in the Mammoth Copper-Gold property, subject to regulatoryapprovals.
The Mammoth Copper-Gold Property consists of 4contiguous 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 3rdanniversary of the Agreement. The Agreement is subject to a RoyaltyInterest of a 3% net smelter return, Anglo Swiss may at any timepurchase the Royalty Interest for $500,000.
The Company hasalso staked 1136.43 hectares of contiguous mineral claims to theMammoth Copper-Gold property increasing the Nelson Mining Camp toover 16,000 hectares or 160 square kilometers. The MammothCopper-Gold Property is situated on the southeastern borders of AngloSwiss' Nelson Mining Camp.
Historical, non NI 43-101compliant results from the Mammoth property include 21.95 m of0.627% Cu intersected in drill core (1972) and high grade goldvalues of up to 0.94 oz/T returned from quartz-arsenopyritestringers exposed in trenches.
This acquisition was a result ofthe recently completed Aeroquest Aerotem III survey andgeological compilation on the Nelson Mining Camp project. A totalof 1,749 line km were flown and preliminary interpretationdefined a strong conductive zone within the Company's newlyacquired claim group through the Mammoth Copper-Gold property tothe south. The Aeroquest survey interpretation has defined three strongconductive zones named Silver Lynx, Gold Hill and Mammoth.Drilling is expected to start immediately upon the Companyreceiving its initial drill permits.
The 2010 explorationprograms are designed to systematically test the potential ofnumerous gold, silver and poly-metallic targets over this newlyconsolidated land package by placing exploration data from ahistorical mining district into a modern framework.
About AngloSwiss
Anglo Swiss Resources Inc. is a mineral exploration companywith its current focus on gold, silver and base metals at its160 square kilometer Nelson Mining Camp located to the south westof Nelson, British Columbia. The Nelson Mining Camp is situatedalong the Silver King Regional Shear Zone striking for over 10kilometers. The Silver King Shear is the host to numerous,historical gold, silver and poly-metallic mines in southeasternBritish Columbia including Anglo Swiss' 100% owned Kenville GoldMine. Please visit the Company's website at www.anglo-swiss.comfor more information on the Company and its projects.
ReaderAdvisory The TSX Venture Exchange has not reviewed and does notaccept responsibility for the adequacy or accuracy of thisrelease.
Cautionary Statement on Forward-Looking Information:
Thisrelease contains certain "forward-looking statements" including,without limitation, expectations, beliefs, plans and objectivesregarding the potential transactions and ventures discussed in thisrelease. Among the important factors that could cause actualresults to differ materially from those indicated by suchforward-looking statements are the risks inherent in mineralexploration, the need to obtain additional financing, the availabilityof needed personnel and equipment for exploration and development,fluctuations in the price of minerals, and general economicconditions.
SOURCE: Anglo Swiss Resource Inc.
Anglo SwissResource Inc. Len Danard President and Chief Executive Officer Tel:604-683-0484 Fax: 604-683-7497 Email: info@anglo-swiss.com orInvestor Relations Contacts: The Howard Group Inc. Jeff Walker orGrant Howard Toll Free: 1-888-221-0915 www.howardgroupinc.com
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