A.I.S. Resources Update on Its Advanced Exploration Stage Lithium and Gold Projects
A.I.S. Resources Limited
1120 – 789 West Pender Street
Vancouver BC V6C 1H2 Canada
www.aisresources.com
A.I.S. Resources Update on Its Advanced Exploration Stage
Lithium and Gold Projects
Vancouver, British Columbia July 20, 2022 – A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company”
or “AIS”) an innovative and advanced stage lithium and gold exploration company provides an update on the
development of its projects. With the large number of activities AIS is currently participating in, the Company
is providing this summary for shareholders.
“Our company focus is on discovering and adding value to exploration projects in the lithium and gold mining
sectors,” stated Martyn Element, Chairman of AIS.
Phil Thomas, President of AIS also commented, “With our current exploration activities at the Bright Gold
Project and ongoing development of our three lithium projects in Argentina and three additional Australian
gold projects we expect to make several positive announcements over the next six months.”
Fig. 1 – A NI43-101 has been completed based on the 2021 drilling progress at Incahuasi Salar in Argentina.
LITHIUM PROJECTS IN ARGENTINA
AIS is the lead partner driving the exploration and development in three lithium projects in the world-renowned
Lithium Triangle in Argentina. With the current very active lithium market the Company is looking forward the
developing these projects.
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Cauchari Salar Lithium Project
AIS has completed a 43 page environmental impact statement for Yareta XIII, which is located on the southern
tip of Cauchari Salar where Allkem Limited ( ASX:AKE - market cap 6.41B AUD) and Exar Inc have their large
lithium project. AIS is inviting joint venture proposals to develop the project.
Pocitos Salar Lithium Project
In 2018 AIS explored Pocitos 7 and Pocitos 9, completing a VES geophysics survey, and 20 x 5m trenches that
were sampled for lithium. There are a number of other explorers drilling nearby, including Chengxin Lithium
Group Co., Ltd. a large lithium producer ( market cap 51.28B CNY). The Company is actively seeking joint
ventures proposals on both these properties.
Pocitos One Lithium Project
Recharge Resources optioned Pocitos One from Spey Resources, which originally optioned the property from
AIS Resources. In 2018 significant brine flows were recorded and with lithium assays up to 125 ppm. The brine
flow rate before it was choked was in excess of 50,000 litres a minute (investors should note that this brine
release value is not NI43-101 compliant). In 2018 the magnesium to lithium ratio was too high to process using
technologies available at the time. The new Ekosolve ™ Direct Lithium Extraction system has shown it can
manage up to 50:1 or even higher Mg:Li ratios and it recovers more than 95% of the lithium from low
concentration brines. Recharge Resources will be drilling a production well in August, and if they exercise their
option, AIS will receive a 15% royalty and proceeds from the sale of the 800 hectares.
Incahuasi Salar Lithium Project – 20% Interest
AIS has a 20% interest in the Incahuasi project. The Company sold an 80% interest in Incahuasi to Tech One
Lithium a subsidiary of Spey Resources (Spey) for a payment USD$1 million received in March 2022 and
exploration expenditures totalling USD$500,000 completed by Tech One. Spey has completed a NI43-101
written by Montgomery and Associates regarding drilling in 2021 on Incahuasi.. When Spey Resources resumes
trading, the company will drill two production wells and three exploration wells with the view to producing a
NI43-101 mineral resource estimate. Spey has an option to acquire AIS Resources’ 20% interest for USD$6M
by March 23, 2023. Spey Resources has signed a licence agreement with Ekosolve™ .
GOLD PROJECTS IN AUSTRALIA
AIS has four significant advanced stage exploration projects in Australia’s two major gold-rich regions including
Victoria near the Fosterville Gold Mine and in the Lachlan fold belt in New South Wales.
Bright Gold Project
This month, AIS Resources started 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.
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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. The 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.
Fig. 2 – A.I.S. Resources preparing to commence the July 2022 drill program on Bright Gold Project.
Toolleen Fosterville Gold Project
For the Toolleen Fosterville project, AIS has engaged with the landowners to walk the drill hole locations in the
next few weeks. A 10-hole program is planned when the ground becomes sufficiently dry to bring in a drill rig.
The Fosterville Toolleen Gold Project is located 12 km east of Kirkland Lake’s Fosterville gold mine – currently
one of the richest gold mines in Australia.
4 “Victorian gold deposits”. Philps N and Hughes M. AGSO Journal of Australian Geology & Geophysics, 17(4), 1996. pp.215
2 Ibid
3,3 Recorded from mines of greater than 1,000 oz of production.
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Kingston Gold Project
Intensive soil sampling has been completed as well as a detailed structural geology review. This has changed
the modelled mineralization to a more northerly direction. Connor Coote that have a prospector’s licence
within the AIS Exploration licence area, have sunk a 50m shaft and are preparing to start mining the lode. Any
gold won outside their prospector’s licence on our EL will result in a 15% royalty share for AIS.
From 1900 to 1903, hard rock gold mining occurred at the Old Kingston Mine with production estimated by the
then Mining Surveyor to be 2,762ozs of gold from 11,764 tonnes of ore, at an average grade of 7.3g Au/t.
In January 2012 Navarre Minerals Limited which held the concession at the time announced diamond drill
results of 16.9m at 5.5g Au/t from a depth of 65.7m down-hole, including 3.1m at 29.5g Au/t. Visible gold was
identified between 65.7m and 65.9m down-hole within a quartz breccia on the hanging wall side of a quartz
lode structure.
HQ Diamond Drilling was undertaken in four holes in March 2019 near the Old Kingston Mine site. Holes
SWK001 to 4 were drilled by Starwest Drilling contractors to a depth of 70 to 80m. There was a range of results
up to 24.27g/t Au.
Yalgogrin Gold Project
The landowner sold the property where our EL was located, and the new owners are pro-mining. During the
fall 2021 drilling program an intercept of 83m at 1.5gm/tonne of gold was measured. AIS currently holds a 40%
interest in Yalgogrin. AIS is evaluating its options to JV or sell its 40% interest or acquire a 100% interest.
The Yalgogrin Gold Project is located in the historic West Wyalong gold corridor of central NSW, Australia which
produced 445,700 oz gold mined between 1894-1921. The project had Auger results of 12.5 gm/t and 32.3
gm/t, and 14 DDH’s with intercepts ranging from 1.9 gm/t to 1m at 21.5 gm/t.
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.
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
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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.