VANCOUVER, Sept. 23, 2011 /PRNewswire/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF:OTCQX) ("Anglo Swiss" or "the Company") is pleased to announce that it has successfully renegotiated the terms of the Ron Gold Property Option Agreement ( the "Agreement") entered into on September 24, 2009 with Klondike Gold Corp. ("Klondike").
Klondike has agreed to accept the second year anniversary cash payment of $50,000 due September 24, 2011 in the form of cash and common shares of Anglo Swiss Resources Inc. The parties to the Agreement have, subject to regulatory approval, agreed to a payment of $25,000 cash and settling the balance of $25,000 through the issuance of 333,333 common shares at $0.075 per share.
Furthermore due to permitting delays the second year's exploration expenditures originally due by September 24, 2011 have been extended to September 24, 2012.
The 1,492 hectare Ron property is part of the Company's Nelson Mining Camp gold project in southeastern BC. The Ron property covers the potential strike extension of high-grade gold veins south of the Kenville Gold Mine property owned by Company.
About Anglo Swiss:
Anglo Swiss Resources Inc. controls a highly-prospective, Canadian, precious and base metal exploration property portfolio which includes its flagship 165 sq. km, Nelson Mining Camp Project, that hosts the 100%-owned Kenville Gold Mine, in southeastern BC; and its newly acquired 100%-owned, Lansdowne House, Ring of Fire Ni-Cu-PGE project in northwestern Ontario. Further information may be found at www.anglo-swiss.com or at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
SOURCE Anglo Swiss Resources Inc.