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Gold/Mining/Energy : Anglo-Swiss (ASW-Montreal) Sapphire Discovery -- Ignore unavailable to you. Want to Upgrade?

To: B. E. Barry who wrote (9)	12/9/1997 12:54:00 PM
From: B. E. Barry	Read Replies (2) \| Respond to of 68

Blue Sapphires Ready For Cabochon; Flow-Thru Share Offering. FOR IMMEDIATE RELEASE Montreal Exchange: ASW December 9, 1997 OTC Bulletin Board: ASWC -BLUE SAPPHIRES READY FOR CABOCHON -FLOW-THROUGH SHARE OFFERING -CORPORATE REORGANIZATION COMPLETED Anglo Swiss Resources Inc. has been informed by United Radiant Applications of southern California that the heat treatment program has successfully improved both the color and clarity of the sapphires currently being tested. The stones tested to-date have turned blue and clarity is now being induced into the sapphires ( see September 18, 1997 news release ). It is estimated 95% of gem quality sapphires are heat treated to enhance their value and marketability. Anglo Swiss Resources Inc. will therefore cabochon this grade of sapphire and continue with further heat treatments, to maximize the overall percentage of gem quality sapphires. Anglo Swiss Resources Inc. has informed the Montreal Exchange of its intent to raise up to $1,200,000 by way of a Flow-Through Share issuance at $0.40, subject to all regulatory approvals. Proceeds will be used for Canadian Exploration Expenses and the offering is expected to close on or before December 31, 1997. The Board of Directors is pleased to announce that the reorganization of the Company's corporate structure by way of statutory arrangement was completed (see October 9, 1997 news release) on November 28, 1997 and has received all regulatory approvals. Under the terms of the reorganization, shareholders exchanged their common shares in Anglo Swiss Industries Inc. for an identical number of common shares of Anglo Swiss Resources Inc. ("ASRI"). ASRI is now the new parent corporation for the Anglo Swiss group of companies. The trading symbol for ASRI's common shares will remain the same. For more information on the Company, please visit the website at anglo-swiss.com. On behalf of the Board, "Len Danard" President & CEO For further information please contact: Telephone: (604) 683-0484 Anglo Swiss Resources Inc. Fax: (604) 683-7497 Investor Relations / Comus Capital Group Telephone: (604) 684-5524 Toll Free: 1-888-684-5524 Fax: (604) 684-5534