VANCOUVER, Nov 03, 2009 -- Anglo Swiss Resource Inc. has entered into an Option to Purchase Agreement with Thomas Cherry of Nelson, British Columbia wherein Anglo Swiss may acquire a 100% interest in the Referendum Gold property, subject to regulatory approvals.
The Referendum Gold Property consists of 19 contiguous staked mineral claims covering 1,381 hectares. Consideration from Anglo Swiss consists of payments totaling $250,000 plus 300,000 Anglo Swiss common shares by the 5th anniversary of the Agreement. The Agreement is subject to a Royalty Interest of a 2.5% net smelter return. Anglo Swiss may at any time purchase the Royalty Interest for $2,000,000.
The Referendum Gold Property is situated on the southern borders of Anglo Swiss' 100% owned Kenville Gold Mine Property including the recently optioned (60%) Ron Gold property located 10 kilometres from Nelson, BC. This acquisition greatly enhances Anglo's land position to the south, extending the potential strike length of the regional geological trend along the Silver King Shear Zone. The Silver King Shear is the host to numerous historical gold, copper and silver mines in southeastern British Columbia including Anglo's Kenville Gold Mine.
Anglo Swiss' engineering and geological consultants are presently developing a geological computer model of the Kenville Mine property area, which includes structural geology, the mineralized quartz vein systems, aggregate and previously mined underground workings. This model will have the capacity to determine resource grade and tonnage, and can also be used as a mine-planning tool. The addition of the Referendum Gold and the Ron Gold properties' geological data sets will allow Anglo Swiss to expand its geological model to include more regional geology, which will assist in determining mineralized zones of interest throughout the entire 16 square kilometre Kenville Gold Property Group.
Edward Nunn, P.Eng., a Qualified Person under National Instrument 43-101, has approved the technical content of this News Release.
About Anglo Swiss
Anglo Swiss Resources Inc. is a mineral exploration company with its current focus on gold, silver and base metals at its Kenville Gold property group located to the south west of 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 ASW@agoracom.com Sign up for free SMS News Release service, simply text ASW2 in the body of the text message to 32075 or visit the Mobile FRC link at the Company's website. Please visit the Company's website at www.anglo-swiss.com
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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.
Anglo Swiss Resources Inc.
Len Danard, 604-683-0484
President and Chief Executive Officer
Fax: 604-683-7497
info1@anglo-swiss.com
or
Investor Relations:
The Howard Group Inc.
Jeff Walker or Grant Howard
Toll Free: 1-888-221-0915
www.howardgroupinc.com
