A.I.S. Resources Amends Terms of Bright Gold Project Agreement
A.I.S. Resources Limited
1120 – 789 West Pender Street
Vancouver BC V6C 1H2 Canada
www.aisresources.com
A.I.S. Resources Amends Terms of Bright Gold Project Agreement
Vancouver, British Columbia August 10, 2022 – A.I.S. Resources Limited ( TSX.V: AIS, OTCQB: AISSF ) (the
“Company” or “AIS”) announces the Company has amended the terms of its option to acquire 100% interest
in the Bright Gold Project in Australia.
The Company has acquired a 60% interest in the Bright Gold Property for a payment AUD$150,000 cash and
the issuance of 10 million shares at CAD$0.06 per share. The Company has the option to acquire 100% interest
in the Bright Gold Project by exercising two 20% options at a pre-determined cost based on the indicated and
measured gold mineral resources defined, to be paid 50% in cash and 50% in shares of AIS.
The Company has amended the terms of the two 20% options as follows:
- the shares shall be issued at a deemed price of $0.06 per share,
- the number of shares to be issued shall not at any time exceed 9.9% of the post-issuance issued and
outstanding share capital of AIS on a diluted basis
The Bright Gold Project and surrounds comprises many major historical workings and recorded production of
over 730,0001 oz from both alluvial and rock mining. The largest producers on the Project were the Rose, Thistle
and Shamrock mine @ 22.2g/t Au for 140,000 oz and the Oriental Mine @ 28g/t for 6,194 oz. The Bright Project
is in a premium location and only 6km from E79’s Happy Valley Project. Exploration licence EL006194 contains
more than 250 historical gold mines, reefs (quartz veins) and gold occurrences dating back to the 1890’s.
Historically the EL006194 yielded 341,000 oz gold at grades ranging between 7-992,3g/t, averaging 22 g/t Au.
The Company is currently drilling the Bright property at the Reliance reef/mine site. The program includes 7
drill holes in a fan pattern from one point above the Reliance adit to intersect the reef. AIS has contracted with
the driller to drill a minimum of 1500 m and each hole will be 50-100 m in depth depending on lithology.
The next drill program will be in the Golden Bar area. Further work is being done on the Rose, Thistle &
Shamrock mine for drill pad locations and best approach to drill from Landtax reef area. A detailed community
engagement program is being put in place concurrent with our exploration work.
Warrants Extension
The Company also announces that it intends, subject to TSX Venture Exchange approval, to extend the term of
27,833,333 warrants expiring on August 18, 2022. The share purchase warrants were issued pursuant to a
private placement of 27,833,333 units accepted for filing by the TSXV on August 19, 2020.
The warrants will be extended for a period of one year until August 18, 2023. The exercise price remains
unchanged at $0.08.
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 A.I.S. Resources Ltd.
1 “Victorian gold deposits”. Philps N and Hughes M. AGSO Journal of Australian Geology & Geophysics, 17(4), 1996. pp.215
2 Ibid
3 Recorded from mines of greater than 1,000 oz of production.
2 | P a g e
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
lithium, gold, 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 9.9 km from Kirkland Lake’s Fosterville
gold mine, a 60% interest in the 57 sq km Bright Gold project (with the right to acquire 100%), a 40% interest
in the 58 sq km New South Wales Yalgogrin Gold Project, and 100% interest in the 167 sq km Kingston Gold
Project in Victoria Australia near Stawell and Navarre. AIS has further options to acquire three lithium
concessions in the Pocitos and Cauchari Salars in Argentina and also has 20% joint venture interest with Spey
Resources Corp. in the Incahuasi lithium brine project in Argentina 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.