A.I.S. Resources Announces Private Placement Financing

October 18, 2024

Vancouver, British Columbia – A.I.S. Resources Limited (TSX-V: AIS, OTCQB: AISSF, FRA: 5YHA) (the “Company” or “AIS”) announces a non-brokered private placement of up to 8,600,000 Units at a price of $0.035 per Unit for gross proceeds of $301,000 (the “Private Placement“). The proceeds will be used for general working capital and exploration of the Company’s gold projects in Australia. The Company may pay finders fees of up to 8% cash and 8% finders warrants on a portion of the placement.

Each Unit consists 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 2 years from the closing date of the offering at a price of $0.05 per common share.

Closing of the Private Placement is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.

Certain directors and officers may participate in the Private Placement. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The related party transaction will be exempt from minority approval, information circular and formal valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the gross securities to be issued under the Private Placement nor the consideration to be paid by the insiders will exceed 25% of the Company’s market capitalization. A material change report will be filed less than 21 days before the closing date of the transactions contemplated by this news release. The Company believes this shorter period is reasonable and necessary in the circumstances.

The Private Placement securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

AIS’ Key Gold Projects in Australia:

With the recent rise in gold prices, AIS has renewed its focus on advancing its exploration efforts. 

  1. Fosterville-Toolleen Gold Project

  • AIS holds a 100% interest in the 28 km² Fosterville-Toolleen Exploration License (EL6001), located just 10 km east of Agnico Eagle’s renowned Fosterville gold mine.
  • Promising drill targets have been identified at Toolleen, with geological characteristics similar to the high-grade Fosterville mine.

  1. Bright Gold Project

  • AIS has a 60% stake in the 58 km² Bright Exploration License (EL6194), with the option to acquire full ownership.
  • The Company is currently reviewing results from its 2023 drill program and is preparing to define additional high-potential drill targets.

  1. Kingston Gold Project

  • AIS holds a 100% interest in the 167 km² Kingston Exploration License (EL6318), which includes a small-scale mine with a 50-meter vertical shaft.
  • AIS will receive 15% of the revenue from gold sales generated from the Vendor’s mining activities outside of their prospecting license.

These three properties, totaling over 250 km², are located in the highly prospective Lachlan Fold Belt in Central Victoria, often referred to as the “Golden Triangle.” According to the Geological Survey of Victoria, up to 75 million ounces of gold may still be undiscovered in the region.

About A.I.S. Resources Limited

A.I.S. Resources Limited is a publicly traded company listed on the TSX Venture Exchange. The Company focuses on natural resource opportunities, aiming to unlock value by acquiring early-stage projects and providing the necessary technical and financial support to develop them. AIS is guided by a seasoned team of engineers, geologists, and finance professionals with a proven track record of success in capital markets.

On Behalf of the Board of Directors,
AIS Resources Ltd.
Andrew Neale, President & CEO

Corporate Contact
For further information, please contact:
Martyn Element, Chairman of the Board
T: +1-604-220-6266
E: melement@aisresources.com

Website: www.aisresources.com

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.

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.