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A.I.S. Resources Guayatayoc Mina Lithium Project, North Argentina Completes Initial Analysis of Six Brine Samples from Drill Hole 1 with Excellent MG:LI Ratios

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that the lithium brine samples taken from Drill Hole 1 (DH1) at the Company’s Guayatayoc Mina lithium project have been analysed by SGS, an international accredited chemistry analysis firm in Salta.

The results are excellent given this hole had to be moved 150 metres east of the target zone to the Quebralenas area where we have drilling rights. We expect to receive our drilling permit for the target zone which is in the Rincondillas area within 30 days of the 28thFebruary 2019 UGAMP meeting.

  • Mg:Li ratio is below 8 with an average of 7.1, which means we will have a lower cost of production, in the event we reach the production stage, as we will only need 7 parts of calcium hydroxide to remove the magnesium.
  • Lithium range is 95-106ppm. Our minimum commercial value is 187ppm in our production model. Pit G6 sampled 270ppm Li which was previously reported.

Potassium and boron are both low thus the sodium sulphate input for the potassium removal and the ion exchange system to remove the boron will not be of any significance.

Phil Thomas CEO said that, “These results are great news given the location where we drilled was not optimal. We intersected porous green and brown clays containing salt and sand and didn’t encounter any major fresh water sub-aquifers that would have collapsed the hole and contaminated it with fresh water. The lithium values are in the ball park but more important is the lithium to magnesium ratio, being sub 8 on average. This is encouraging news and we look forward to drilling Rincondillas in the target zone where the resistivity areas are sub 0.015ohm-m where we expect to encounter much higher lithium values and higher specific gravity due to lithium concentration at depth. We have four drill holes planned in the target zone with a depth of 250m each. Now that we have the lithology from DH1 it enables us to improve the accuracy of our geological model.”

Figure 1 – The star shows the location of DH1. G1- G36 show where we have trenched and sampled and the solid yellow lines are the VES geophysics traverses. The black lines show the community boundaries.

Figure 2 – Is the geophysics at 100m depth. The DH1 location was moved another 50 metres to the east away from the target zone, to the 0.025 Ohm-m zone. The community boundaries are marked in red. The geophysics traverse line is in black.

Figure 3 – Shows traverse 11750 or line 1 in Rincondillas area and the target zone (dark purple area) which is 150m in depth and 7 kilometres wide with a length of 5 kilometres. The target zone has a resisitivity of 0.015ohm-m, lower than salt water which is 0.025 Ohm-m.

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors, AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

 

A.I.S. Resources Guayatayoc Mina Lithium Project, North Argentina Completes First Drill Hole at 400M UGAMP Meeting for Guayatayoc III Set for February 28, 2019

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that drill hole one on Guayatayoc Mina was completed 6 February 2019.  A brine sample will be taken at the 400 metre level today and downhole geophysics undertaken over the weekend to determine porosity and permeability.  Brine sampling commenced at the Guayatayoc Mina lithium project in Northern Argentina on January 29, 2019 at 295 metres with further samples taken at the 350 metre and 400 metre intervals. 

SGS, an international accredited chemistry analysis firm in Salta advise that preliminary results will be available in the next three to four days and full analysis results late next week.

Figure 1 – Drill core shows the transition from clays and halites to gray sands at 397 m

Phil Thomas CEO said, “Drilling was very fast and we intersected a sand unit near the bottom of the hole which didn’t have as much brine as the clay halite units above it. The sand unit was possibly an ancient river area where clean sand had settled but was not compacted.  Dr Romina Steinmetz who completed her PhD at Guayatayoc visited the  drill site and inspected the core. This analysis was consistent with the geophysics so there was no advantage to drill deeper.  We are looking forward to the results from SGS and downhole geophysics as it will have a lot of information we can use when we drill in Rincondillas area in Guayatayoc III.  It is great that we got the Rincondillas UGAMP meeting scheduled for 28 February 2019 allowing us to progress this exciting lithium project”.

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder. 

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors, AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

 

A.I.S. Resources Guayatayoc Mina, North Argentina Commenced Brine Sampling January 29, 2019, with Packer Test 295-305 Metres

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that brine sampling commenced at the Guayatayoc Mina in Northern Argentina on January 29, 2019 at 295 metres depth. The target depth is 400 metres.

Figure 1 – Drill Rig Guayatayoc Mina

Brine sampling using a handheld resistivity meter has provided the following encouraging results and confirms the previous results at 200m:

  • Resistivity 188.5 ms (micro siemens) (three times the salt concentration of sea water which is 54 ms)
  • Specific Gravity is 1.15 (fresh water is 1.0) (lithium brines are usually 1.2-1.25)
  • Ph is 6.85 (slightly acid which is possibly due to the presence of chlorides that combine with Li, Ca, Mg, and other elements)

Brine samples will be sent to SGS in Buenos Aires for testing and to Geoanalytics in Tucson to measure porosity and brine release characteristics. SGS will take about 10-14 days to process the samples after they receive them. The next packer test for brines will be at 325 metres where the maximum resistivity contrast occurred.

Figure 2 – Brine sample bottles duplicated.

Figure 3 – Core sample sealed and prepared for analysis at Geoanalytics, Tucson USA.

Figure 4 – Drill core showing halite (salt) sequences at 292m depth.

Phil Thomas CEO said that, “Core coming out has been very encouraging as is the increase in specific gravity. In places the clays are soaked and we are not able to retrieve the core due to the brine levels which is good. The packer brine sampling test results will tell us in the next few weeks if the contrast between fresh water and salt water is lithium enriched brines.”

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

 

A.I.S. Resources Commenced Drill Hole One at Guayatayoc Mina, Argentina on January 20, 2019. Guayatayoc Mina III Assembly Document Signed by Rincondillas Community – Planned Date for UGAMP, February 24, 2019.

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that drilling commenced at the Guayatayoc Minacateo in Northern Argentina on January 20, 2019.  The target depth is 400 metres. 143 metres has been drilled so far.

Figure 1 – Drill Rig

Brine sampling using a handheld resistivity meter has provided the following encouraging results:

  • Resistivity 182 ms (micro siemens) (three times the salt concentration of sea water which is 54 ms))
  • Specific Gravity is 1.12 (fresh water is 1.0) (lithium brines are usually 1.2-1.25)
  • Ph is 7.12 (slightly alkaline which is possibly due to the presence of bi-carbonates that combine with Li, Ca, Mg, and other elements)

Brine samples from the packer test at 102 metres depth will be sent to the laboratory this week for detailed analysis. We expect lithium values to increase as we approach 250-300 metres depth. The next packer test for brines will be at 250 metres. The drill core (Fig 2) is composed of black and green clays down to 102 metres. We are seeing more sand in the clay and the presence of salt flakes, which is a good sign for porosity.

Figure 2 – Drill Core.

Picture above shows the drill core at 94.5m depth displaying gray clay sediment with sand and salt crystals. The picture below (Fig 3) shows the black clays with sand and salt crystals in it.

Figure 3 – Black Clays.

Phil Thomas CEO said that, “The drilling guys have really put in and got us going three days earlier than expected.  We haven’t seen any significant evidence of brine pressure so far so we didn’t have to stop to cement the hole.  Core coming out has been very encouraging.  It seems to have the predicted porosity, resistivity and Ph we want to see. The packer brine sampling test results will tell us if we are in the right location.

Guayatayoc III
We are delighted that the Rincondillas community signed the Assembly Document and a meeting with the Department of Mines was concluded to provide some additional technical information and set a date for the UGAMP meeting on 24 February 2019.  Phil Thomas will attend this meeting.

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders.The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

 

A.I.S. Resources Completes Road and Drill Pad at Guayatayoc Mina, With Drill Hole One to Commence January 23, 2019

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that the 3km road to drill hole DH1 and the drill pad have been completed. The Salar contains brine less than 0.6m below the surface so an 0.8melevated road was constructed to support heavy trucks and machinery. The elevated road held up well with only slight rains in our area although rains were heavy elsewhere in the region.

The rig, drill rods and supplies arelocated only three kilometres away.Drillers haveprovided their approvalof the road and have commenced preparations to begin drilling shortly.

This is the composite plan at 300m depth of resistivity. The dark and light purple areas are below 0.025 ohm-m value which indicates potentially other elements beside sodium chloride is reducing the resistivity. The red lines are the border between Quebralena community and Rincondillas community. The black line is the VES geophysics traverse line. The original location was found to be on Rincondillas land which is pending a drilling permit so it was moved 100m to Quebralena land which has a drilling permit in place.

Truck Parked at Drill Pad

Brine and waste wells for drill rig

Significant progress has been made with the Ricondillas community and we believe they are very close to signing an assembly document allowing us to progress to a UGAMP meeting. Our traditional owners liaison team is meeting with the community on January 20, 2019.

Phil Thomas CEO said that, “This first drill hole will give us a significant amount of data allowing us to fine tune our drill program assuming we intersect lithium bearing aquifers. The trench above the DH1 hole recorded 47ppm lithium and 150 ppm magnesium. Our tenement area is 8km wide by 5km in length with low resistivity zones at about 200m with depths of up to 100 metres so with lithium on surface its highly prospective. Our first drill hole is located over the widest point of the low resistivity zone in Guayatayoc Mina so we are very anxious to get the results of the packer brine sampling test and examine the core.” 

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders.The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

A.I.S. Resources Announces Private Placement Amendment of Terms

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Company has amended the terms of the non-brokeredprivate placement announced on October 10, 2018.  Under the amended terms AIS will issue up to 7,333,333 units of the Company at a price of $0.075 per unit for gross proceeds of up to $550,000.

Each unit will consist of one common share and one transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of 12 months from the closing date of the offering at a price of $0.15 per common share provided that if the closing price of the common shares of the Company on any stock exchange or quotation system on which the common shares are then listed or quoted is equal to or greater than $0.20 for a period of fifteen (15) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants to a date that is not less than ten (10) business days from the date notice is given.The Company will pay up to 8% finders fees and 8% finders warrants.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX listed investment issuer, was established in 1967 and is managed by experi-enced, highly qualified professionals, who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop early-stage projects worldwide, that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina. It is currently ex-ploring the Guayatayoc and Salinas Grandes salars.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 Corporation 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.

A.I.S. Resources Announces Continuation of Corporation to the Jurisdiction of British Columbia, Canada

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Company has continued as a British Columbia corporation under the provisions of the Business Corporations Act (British Columbia) (the “BC Act”) and has applied for discontinuance of the Company in the Commonwealth of the Bahamas. The continuance in B.C. (the “Continuance”) will not affect the Company’s status as a listed company on The TSX Venture Exchange or as a reporting issuer under the securities legislation of British Columbia, Alberta and Quebec, and the Company will remain subject to the requirements of such legislation.

As management and the head office of the Company is located in British Columbia, management believes that it will be more efficient and cost-effective for the Company to be governed by the laws of British Columbia. Management also believes that the Continuance will provide the Company with increased opportunities and flexibility in obtaining financing.

The Company was, until recently, subsisting under the Commonwealth of the Bahamas Companies Act, 1992 (No. 18 of 1992), as amended(the “Bahamas Act”). On September 14, 2018 the Company continued its jurisdiction under the Commonwealth of the Bahamas International Business Corporations Actand on December 20, 2018 completed the Continuance under the BC Act. The Company is now subject to the BC Act as through it had been incorporated under the BC Act.  Section 305 of the BC Act provides that upon continuance of a foreign corporation as a corporation under the BC Act:

  • (a)  the BC Act applies to the continued company to the same extent as if the company had been incorporated under the BC Act,
  • (b)  the continued company has, as its notice of articles, the notice of articles contained in the continuation application,
  • (c)  the property, rights and interests of the foreign corporation continue to be the property, rights and interests of the continued company,
  • (d)  the continued company continues to be liable for the obligations of the foreign corporation,
  • (e)  an existing cause of action, claim or liability to prosecution is unaffected,
  • (f)  a legal proceeding being prosecuted or pending by or against the foreign corporation may be prosecuted or its prosecution may be continued, as the case may be, by or against the continued company, and
  • (g)  a conviction against, or a ruling, order or judgment in favour of or against, the foreign corporation may be enforced by or against the continued company.

The Continuance to British Columbia and adoption of the new charter documents has not resulted in any substantive changes to the constitution, powers or management of the Company, except as described below.

Comparison Between the BC Act and the Bahamas Act
The following is a summary only of certain differences between the BC Act, the statute that now governs the corporate affairs of the Company, and the Bahamas Act, the statute which until September 14, 2018 governed the corporate affairs of the Company.

Nothing that follows should be construed as legal advice to any particular shareholder, all of whom are advised to consult their own legal advisors respecting all of the implications of the Continuance.

Charter Documents
Under the BC Act, the charter documents consist of “Notice of Articles”, which sets forth the name of the Company and the amount and type of authorized capital, and “Articles” which govern the management of the Company (collectively, the “Charter Documents”). Under the Bahamas Act, the Company had a “Memorandum of Association”, which, among other things, set forth the name of the Company and the amount and classes of authorized share capital, and “Articles of Association” (collectively, the “Bahamas Articles”) which governed the management of the Company.  Upon the Continuance becoming effective, the Bahamas Articles were replaced with the Charter Documents.

The Notice of Articles and Articles under the BC Act provide for authorized capital consisting of unlimited number of common shares without par value and unlimited number of preferred shares without par value, whereas the authorized capital of the Company under the Bahamas Act was $15,000,000 in the currency of the United States of America which could be issued in any combination of common or preferred shares of no par value and convert all of the issued shares to no par value common shares. The attributes of the Common Shares are, in most material respects, similar to the attributes of the common shares previously outstanding under the Bahamas Act. The Preferred Shares may include one or more series and, subject to the BC Act, the directors of the Company may, by resolution, if none of the shares of that particular series are issued, do one or more of the following:

  • (a)  determine the maximum number of shares of that series that the Company is authorized to issue, determine that there is no such maximum number, or alter any such determination;
  • (b)  create an identifying name for the shares of that series, or alter any such identifying name; and
  • (c)  attach special rights or restrictions to the shares of that series, or alter any such special rights or restrictions.

Vote Required for Certain Transactions
Under the BC Act, certain extraordinary corporate actions, such as certain amalgamations, continuations and sales, leases or dispositions of all or substantially all a company’s undertaking other than in the ordinary course of business, and other extraordinary corporate actions such as liquidations, and (if ordered by a court) arrangements, are required to be approved by special resolution. A special resolution is a resolution (i) passed at a meeting by not less than two‐thirds of the votes cast by the shareholders who voted in respect of the resolution, or (ii) approved in writing by all shareholders entitled to vote on the matter.

The Bahamas Act provides for mergers and consolidations, in certain circumstances, and in such case would require, unless otherwise specified in the Articles, consent of an ordinary resolution of shareholders. The Bahamas Act also provides that upon a merger or consolidation, the holders of not less than 90% of the shares may direct the company to redeem the shares held by the remaining shareholders.

Amendments to Corporate Charter
Any substantive change to the corporate charter of a company under the BC Act, such as an alteration of the restrictions, if any, of the business carried on by the Company, a change in the name of the company or an increase or reduction of the authorized capital of the company requires a special resolution passed by not less than two‐thirds of the votes cast by shareholders voting in person or by proxy at a general meeting of the company, unless another type of majority is specified in its Articles.  The Company has adopted Articles which alter the requirements for special resolutions in certain instances, as more particularly described below. Other fundamental changes such as an alteration of the special rights and restrictions attached to issued shares, also require a special resolution passed by not less than two‐thirds of the votes cast by the holders of shares of each class entitled to vote at a general meeting of the Company. The holders of all classes of shares adversely affected by an alteration of special rights and restrictions must vote by separate class votes.

As mentioned above, the Articles adopted by the Company provide in Article 10.1 that the following matters may be approved by resolution of the directors:

  • (a)  the creation of one or more classes or series of shares or, if none of the shares of a class or series of shares are allotted or issued, the elimination that class or series of shares;
  • (b)  any increase, reduction or elimination of the maximum number of shares that the Company is authorized to issue out of any class or series of shares or establishing a maximum number of shares that the Company is authorized to issue out of any class or series of shares for which no maximum is established;
  • (c)  the subdivision of all or any of its unissued or fully paid issued shares without par value;
  • (d)  if the Company is authorized to issue shares of a class of shares with par value:
    – (i)  decrease the par value of those shares;or
    – (ii)  if none of the shares of that class of shares are allotted or issued,increase the par value of those shares;
  • (e)  a change of all or any of its unissued, or fully paid issued, shares with par value into shares without par value or any of its unissued shares without par value into shares with par value;
  • (f)  the alteration of the identifying name of any of its shares;
  • (g)  the consolidation of all or any of its unissued, or fully paid issued shares without par value; or
  • (h)  the alteration otherwise of its shares or authorization of share structure when required or permitted to do so by the BC Act.

Further, Article 10.3 of the Articles to be adopted by the Company permits an alteration to the Company’s Notice of Articles in order to change its name or adopt or change any translation of that name.

Under the Bahamas Act, the Bahamas Articles may be amended by ordinary resolution, which requires the approval of a majority of the votes cast at a meeting (or such greater number as may be specified by the Articles of Association) or approval in writing by all shareholders entitled to vote on the matter. The Board may not effect amendments to the Bahamas Articles on its own.

Dissent Rights
The BC Act provides that shareholders who dissent to certain actions being taken by the Company may exercise a right of dissent and require the Company to purchase the Common Shares held by such shareholder at the fair value of such Common Shares. The dissent right is applicable where any court order permits the dissent or where the Company proposes:

  • (a)  by resolution to alter the articles to alter restrictions on the powers of the Company or on the business it is permitted to carry on;
  • (b)  by resolution to adopt an amalgamation agreement;
  • (c)  by resolution to approve an amalgamation into a foreign jurisdiction;
  • (d)  by resolution to approve an arrangement, the terms of which arrangement permit dissent;
  • (e)  by resolution to authorize or ratify the sale, lease or other disposition of all or substantially all of the Company’s undertaking;
  • (f)  by resolution to authorize the continuation of the Company into a jurisdiction other than British Columbia; or
  • (g)  to ask shareholders to approve any other resolution, if dissent is authorized by the resolution.

The Bahamas Act provides that shareholders are entitled to payment of the fair value of their share upon dissenting from:

  • (a)  a merger;
  • (b)  a consolidation;
  • (c)  any sale, transfer, lease, exchange or other disposition of more than fifty percent of the value or business of the company in certain circumstances;
  • (d)  an arrangement, if authorized by the court; and
  • (e)  redemption by the company following a merger or consolidation.

Oppression Remedies
Under the BC Act, a shareholder, or any other person whom the court considers to be an appropriate person to make an application, has the right to apply to court on the grounds that:

  • (a)  the affairs of the Company are being or have been conducted, or that the powers of the directors are being or have been exercised, in a manner oppressive to one or more of the shareholders, including the applicant, or
  • (b)  some act of the Company has been done or is threatened, or that some resolution of the shareholders or of the shareholders holding shares of a class or series of shares has been passed or is proposed, that is unfairly prejudicial to one or more of the shareholders, including the applicant.

On such an application, the court may make such order as it sees fit including an order to prohibit any act proposed by the Company.

The Bahamas Act does not provide for a similar remedy.

Derivative Action
Under the BC Act, a shareholder or director of the Company may, with leave of the court, prosecute a legal proceeding in the name and on behalf of the Company to enforce a right, duty or obligation owed to the Company that could be enforced by the Company itself or to obtain damages for any breach of such a right, duty or obligation.

The Bahamas courts have recognized derivative suits by shareholders in some limited circumstances. The Bahamas courts ordinarily would be expected to follow English precedent, which would permit a minority shareholder to commence an action against or a derivative action in the name of the company only:

  • (a)  where the act complained of is alleged to be beyond the corporate power of the company or illegal;
  • (b)  where the act complained of is alleged to constitute a fraud against the minority perpetrated by those in control of the company;
  • (c)  where the act requires approval by a greater percentage of the company’s shareholders than actually approved it; or
  • (d)  where there is an absolute necessity to waive the general rule that a shareholder may not bring such an action in order that there not be a denial of justice or a violation of the company’s memorandum of association.

Duties of Directors and Officers
Under the BC Act, in exercising their powers and discharging their duties, directors and officers must act honestly and in good faith, with a view to the best interests of the Company and exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. No provision in the corporation’s notice of articles, articles, resolutions or contracts can relieve a director or officer of these duties.

Fiduciary obligations of directors under Bahamas Act are substantially the same as under the BC Act. The Bahamas Act does not directly address the issue of the limitation of a director’s liability, however, Bahamas public policy will not allow the limitation of a director’s liability for his or her own fraud, willful neglect or willful default. In addition, the Bahamas courts would be expected to follow English precedent in respect of fiduciary duties of the directors and officers of a company.

Indemnification of Officers and Directors
The BC Act allows a corporation to indemnify a director or former director or officer or former officer of a corporation or its affiliates against all liability and expenses reasonably incurred by him in a proceeding to which he is made party by reason of being or having been a director or officer if he acted honestly and in good faith with a view to the best interests of the corporation and, in cases where an action is or was substantially successful on the merits of his defence of the action or proceeding against him in his capacity as a director or officer.

Under the Bahamas Act a company may provide for the indemnification of its directors, officers, employees and agents if he acted honestly and in good faith with a view to the best interests of the corporation and, in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, had reasonable grounds for believing that his conduct was lawful.

Income Tax Considerations
Shareholders should consult their own tax advisers with respect to the income tax consequences to them of the Continuance under federal, provincial, territorial and other applicable tax legislation.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 Corporation 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.

A.I.S. Resources Completes 43M of Drilling at Salinitas Project, Salinas Grandes, North Argentina

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that Hidrotec Drilling has completed 43m of drilling and has cemented the steel casing in place at AIS’s Salinitas joint venture project with MGX Minerals Inc (CDN:XMG). 

Samples taken from the 43m interval show a porous coarse sand which is conducive to the transmission of brines.  The trenching program confirmed the presence of porous sands.  The resistivity of these sands is expected to be encountered at depth. 

Phil Thomas, AIS CEO and Exploration Geologist said he was delighted at the speed the roads were constructed, the availability of water beside the drill hole location and the gracious attitude of the surrounding communities at the pre-mobilization meeting on November 16, 2018.

Figure 1 – Shows drilling a 6 inch well for the steel casing that went in on 25th Nov 2018 before they diamond drill HQ diameter core. The casing is to prevent a collapse of the well in unconsolidated sediments as brine pressures at depth are significant.

Location of Drill Hole 2

Figure 2 – Shows the dark purple area in the TEM survey shows resistivity values that are less than the value for salt water implying the presence of other elements in the brines.

Figure 3 – Shows sandy unconsolidated sediments from the 43.7m level in DH1.

Figure 4 – Road into the drill site showing Salinas Grandes salar in the background. Roads used by Bollare (now Eramet) to drill and still in perfect condition only 11km away.

Phil Thomas, Chief Executive Officer of AIS Resources stated, “It is all systems go now, with Alex Stewart Laboratories in Jujuy on standby to process brine results using ICP. We have scheduled 12 double packer tests to sample the brines down to 400m. Our Geologist David Carabanti is on site to log the core and supervise. Geosystems in Tucson are ready to complete the specific yield and other porosity tests.”

The Salintas Project with MGX (CDN:XMG) is a joint venture where MGX have agreed to fund CAD$1.2 million in works for an 80% interest over the next two years. Subject to brine composition and flow rate, it is our intention to put in a production well to be drilled in either drill hole 1 or 2 for a 30-day pump test. The budget for a two-hole program including post hole analysis and reporting is approximately US$400,000. If the project is a success, another 4 wells will be drilled to production dimensions. Salinas Grandes has been explored with positive results by Orocobre in 2011 and is currently being explored by other Cateo holders nearby.

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop early-stage projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

A.I.S. Resources Reports Successful Meeting at Rincondillas Guayatayoc III, North Argentina

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) has had a successful meeting with the Management Committee and the community of Rincondillas, that occupies most of Guayatayoc III cateo. This was a major breakthough, as we have been working with the community over the past 18 months to arrange this meeting.

Phillip Thomas, CEO, David Carabanti, geologist, Federico Gonzales, AIS community liaison and a notary presented to 43 members of the community. The Management Committee said they were pleased with the presentation and would work with the rest of the community over the next week to resolve any outstanding issues. The chairman said AIS received a vote of confidence from the Management Committee as a result of our presentation.

Figure 1 – Shows the geophysics overlay with the dark purple areas having a resistivity below 0.025 ohms per metre, and the hole locations with hole 01 and 02 currently having the road built on Guayatayoc Mina and Guay 1-6 being the holes on Guayatayoc III cateo.

The Assembly Notes of the meeting were certified by AIS’s notary and submitted on November 26, 2018 to the Secretary of the Mines Department in Jujuy. AIS has also submitted a request to have the UGAMP meeting held as soon as practical. A follow up to these submissions will be a tour of the drill hole locations with the Management Committee of Rincondillas so they can view the location of the road and the two proposed drill holes, Guay 2 and Guay 4. We have asked the Management Committee to permit us to start road construction (which will take 14-21 days) prior to the granting of the drill permit. We envisage a 20 day drilling campaign (10 days per hole) after the drilling permit is issued.

Figure 2 – Shows the Guayatayoc III cateo from Rincondillas village with Guay 6 drill hole 5.7 km away.

Phil Thomas, President, AIS Resources
As stated by Phil Thomas, “This was a fantastic meeting as the Rincondillas Management Committee arranged for us to meet with the whole community and there was nearly 100% attendance. Great questions were asked, misconceptions were resolved, and we received a round of applause at the end! All documents required have been filed. It has been a long 18 months to get to this point but I feel we are now on the fast track. The Rincondillas community recognized our concern for the landscape and the environment and the prosperity that has come to the Quebralenas community with our roadbuilding at Guayatayoc Mina.”

Qualified Person
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop early-stage projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.

A.I.S Resources Limited Enters Into Loan Agreement

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that on November 9, 2018 the Company entered into a loan agreement with Mr. Bulent Seri for a loan in the amount of US$175,000. The loan is for the term of one year and bears interest at 10% per annum. Upon approval of the TSX Venture exchange the lender shall also receive from the Company bonus shares representing 10% of the aggregate sum of the loan. The Company shall also pay a loan application fee in the amount of US$5,000. Proceeds of the loan will be used for working capital purposes. The Company intends to repay the loan by means of future private placement financings.

About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX listed investment issuer, was established in 1967 and is managed by experi-enced, highly qualified professionals, who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop early-stage projects worldwide, that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina. It is currently ex-ploring the Guayatayoc and Salinas Grandes salars.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President & CEO

Corporate Contact
Phillip Thomas
President & CEO
T: 747 200 9412
E: pthomas@aisresources.com

Martyn Element
Chairman
T: 604 687 6820
E: melement@aisresources.com

Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.