A.i.s. Resources Acquires Candela Ii Lithium Exploration Licence ON Incahuasi Salar Argentina with Joint Venture Partner Spey Resources - Ekosolve Process Extracts More Than 90% Lithium from Brine
A.I.S. Resources Limited
1120 – 789 West Pender Street
Vancouver BC V6C1H2 Canada
www.aisresources.com
A.I.S. RESOURCES ACQUIRES CANDELA II LITHIUM EXPLORATION LICENCE ON
INCAHUASI SALAR ARGENTINA WITH JOINT VENTURE PARTNER SPEY RESOURCES -
EKOSOLVE PROCESS EXTRACTS MORE THAN 90% LITHIUM FROM BRINE
Vancouver, British Columbia March 31, 2022 – A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the
“Company” or “AIS”) announces that the Company along with its joint venture partner Spey Resources Corp.
(“SPEY”) has acquiredthe Candela II Project in the Incahuasi Salar in Argentina.The Company paid US$1 million
to purchase 100% interest in the project.Concurrently SPEY exercised its option with AIS to acquire an 80%
interest in the Candela II Project by paying US$1 million to the Company. AIS retains a 20% interest in the
Candela II Project.
Highlights of Candela II work completed to date:
25 surface samples and 3 bulk samples.
5 rotary drill holes with hole 5 down to 209 metres.
A NI43-101 report is being written by Montgomery & Associates.
Ekosolve™ reports from sample 002 that had 160ppm of lithium, recovery using a multiple wash
program extracted more than 90% of the lithium contained in the brine, the highest known recovery
ever recorded and published by a direct lithium extraction system using the Ekosolve™ DLE process.
Fig. 1 – Work continues to progress at the Candela II Project.
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A.I.S. Resources Limited
Production well program
A production well program will now be put in place to measure the brine flow and to determine the porosity
and transmissitivity of the aquifers. Concurrently, a larger pilot plant is now being designed to complete the
proof of process for Ekosolve™ solvent exchange DLE lithium process.
SPEY has an option to acquire AIS’ remaining 20% interest in the Candela II project by paying US$6 million by
March 18, 2023.
Pocitos 1 & 2 Options
In June 2021, AIS optioned its Pocitos 1 and 2 licences on the Pocitos Salar to SPEY Resources for an option fee
of US$100,000 per exploration licence and 2,500,000 Spey common shares.
Spey will be able to exercise the Option and acquire a 100% interest in the Property from AIS by paying a total
of US$1,732,000 (the “Purchase Price”) prior to June 23, 2022. In addition, Spey must complete a US$500,000
exploration program on the Property prior to June 23, 2022. Upon exercise of the Option and Spey’s acquisition
of a 100% interest in the Property, AIS will retain a 7.5% royalty on the sales revenue of lithium carbonate or
other lithium compounds from the Pocitos 1 and 2 properties, net of export taxes. Refer to press release dated
June 24, 2021, for additional details.
In 2018 AIS completed two drill holes at Pocitos 1. The results from assays conducted by Alex Stewart show
that lithium values of up to 125ppm Li were contained in brines that flowed from 350m to 400m intervals at
more than 50,000L per minute. The project was abandoned in 2018 due to the high magnesium but now that
Ekosolve™ is able to treat brines with high magnesium the project has become viable and was re-optioned in
2021.
Pocitos 7 & 9 and Yareta III Exploration Licence Options
AIS also has options on Pocitos 7 and 9 and Yareta III properties and is actively seeking joint venture partners
to develop these lithium projects.
Pocitos 7 and 9 are located on the southern end of the Pocitos salar. A geophysics TEM survey and deep trench
sampling was completed in 2018. The results showed low resistivity on the eastern side of the salar indicating
sandy units containing brine may be present. The lithium values assayed in the trenches by Alex Stewart are as
follows:
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A.I.S. Resources Limited
Pocitos 7
Pits (All Values in ppm (parts per million) 10,000 ppm=1%) Lat 24˚ 34’ 11.57”S Long 67˚ 00’ 50” (Pit 12)
Pit No Li Ca Mg B Na K Sr Mg:Li
12 72 497 1183 168 118450 2514 9.56 16.4:1
13 72 473 1156 163 115698 2460 8.89 16.0:1
14 73 467 1178 159 121693 2457 8.97 16.1:1
15 65 453 1011 112 121450 2305 8.75 15.6:1
16 68 468 1088 139 119398 2413 8.85 16.0:1
Pocitos 9
Pits (All Values in ppm (parts per million) 10,000 ppm=1%) Lat 24˚ 35’ 52.86”Long 66˚ 59’ 20.62” (pit 17)
Pit No Li Ca Mg B Na K Sr Mg:Li
17 75 461 1158 148 119869 2587 8.93 15.4:1
18 71 468 1097 126 121774 2612 9.47 15.5:1
19 107 407 1508 143 118643 3629 8.17 14.1:1
20 113 391 1565 143 120195 3815 17.26 13.8:1
21 73 733 480 64 35020 1608 19.53 6.6:1
Yareta III Exploration Licence
Yareta III is at the southern end of the Cauchari Salar near Orocobre’s properties (now Allkem ASX:AKE). The
project is not on the halite on the salar. A gravity survey and TEM survey was conducted by Orocobre in 2010
(the south east survey) with results that indicate that if brine is there concentrating at the southern end of the
salar it will be at depth.
Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol, MBM,
FAusIMM MAIG MAIMVA(CMV) who is a Qualified Person under the definitions established by the National
Instrument 43-101 and is President, CEO of AIS Resources Ltd.
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A.I.S. Resources Limited
Fig. 2 – Yareta III exploration licence near Orocobre/Allkem.
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A.I.S. Resources Limited
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on
precious and base metals exploration. AIS’ value add strategy is to acquire prospective exploration projects
and enhance their value by better defining the mineral resource with a view to attracting joint venture partners
and enhancing the value of our portfolio. The Company is managed by a team of experienced geologists and
investment bankers, with a track-record of successful capital markets achievements.
AIS owns 100% of the 28 sq km Fosterville-Toolleen Gold Project located 9.9km from Kirkland Lake’s Fosterville
gold mine, a 60% interest in the 57sq km Bright Gold Project (with the right to acquire 100%), a 60% interest in
the 58 sq km New South Wales Yalgogrin Gold Project (with the right to acquire 100%), and 100% interest in
the 167 sq km Kingston Gold Project in Victoria Australia near Stawell and Navarre. It also has a 20% joint
venture interests with Spey Resources Corp in lithium brines in Argentina at the Incahuasi and Pocitos Salars.
On Behalf of the Board of Directors,
A.I.S. Resources Ltd.
Phillip Thomas, President & CEO
Corporate Contact
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
Or
Martyn Element.Chairman
T: +1-604-220-6266
Website:www.aisresources.com
Neither the 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.
ADVISORY: This press release contains forward-looking statements. Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed
on them because the Company can give no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they involve inherent risks and
uncertainties. The forward-looking statements contained in this press release are made as of the date hereof
and the Company undertakes no obligations to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required by
applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.