ASWRF Gungnir Resources Inc (PK)

TSX Venture: ASW

OTCBB: ASWRF

Frankfurt: AMO

VANCOUVER, Feb. 17 /PRNewswire/ - Anglo Swiss Resources Inc. ("Anglo Swiss" or the "Company") is pleased to announce further results from the ongoing diamond drill program at the Kenville Gold Mine property located in south-eastern British Columbia. Of the fourteen holes drilled to date in this area, KE10-19 and KE10-20 are the furthest south.  Both holes intersected multiple veins, many with high gold and silver values, the last one being over 500 meters south of and 200 meters below the  mine's production levels. There were twenty-six gold assays received from these five holes that graded at least 8 g/t Au to a high of 142.0 g/t Au and thirteen silver assays from 27.9g/t Ag to 56.2 g/t Ag.

The area delineated by this recent drilling on the East side of Eagle Creek and extending to the southwest of the Kenville Gold mine is now considerably larger than the total production area of the original mine.  The regular occurrence of multiple mineralized veins and the generally untapped potential to depth and to the south suggest that the veins are part of a large scale mineralized system that Anglo Swiss will continue to systematically explore.

Please click here (http://files.newswire.ca/933/angloswiss0217.pdf) to view the Kenville Mine property map depicting the recent drill holes intercepts and the full assay table.  Some of the highest weighted highlights from the assay sheets are as follows:

Len Danard, President and CEO stated "The significance of drilling and proving the existence of continued high grade gold vein structure over 500 meters from the mine's historic working levels is very positive. The fact that we are also able to intersect similar high grade gold systems 200 meters below the surface levels of this past producer is also extremely encouraging."

Since recommencing drilling in November 2010, eight more holes have been drilled directly to the south of the Kenville mine, on the East side of Eagle Creek, adding to the six holes previously drilled in this area in 2009-2010. Assays from the first hole, KE10-16 were released Dec 14, 2010.  Assay results for holes KE10-17, 19, 20 (KE-18 abandoned in overburden) and holes KE11- 21, 22 have been received back from ALS Canada and a Quality Control survey of all the data has been successfully completed by the Company's Qualified Person.

The following are the more noteworthy drill intersections:

The sampled NQ2 drill core was submitted for assay with proper reference certified material, blanks, sample duplicates for quality control and scrutiny for NI 43-101 purposes. Gold values were analyzed by fire assay; the analytical laboratory retained was ALS Canada of North Vancouver. The intervals are an apparent thickness of the reported intersects, which may represent 80-100% of the intervals' true thickness.  Only intersections that are truly perpendicular to core axis will be 100% true width. Most vein intersects are 70-80deg TCA.

All recent technical work has been supervised by, and the contents of this news release have been verified by, Ginette Carter, P.Geo, who is a qualified person as defined in National Instrument 43-101, standards of disclosure for mineral projects.

About Anglo Swiss

Anglo Swiss Resources Inc. is earning a majority interest in the 160 square kilometer Nelson Mining Camp, the host to the Company's 100% owned Kenville Gold Mine property. The Nelson Mining Camp is the host to numerous, historical producing gold, silver and copper mines, surface adits and old workings. Exploration programs are underway throughout the Camp area with the focus on building a larger gold resource within the Kenville Gold Mine property and beyond to the south.

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Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Anglo Swiss Resources' plan for future exploration and development of its properties.

Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Anglo Swiss Resources to advance development of its properties; price volatility of gold and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations  matters. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.

SOURCE Anglo Swiss Resources Inc.