A.I.S. Resources Announces Closing of Heavily Oversubscribed Financing

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has closed its oversubscribed non-brokered Private Placement of 18,970,000 Units at $0.07 per unit for gross proceeds of to $1,327,900.

Martyn Element Chairman stated, “I am so pleased due to the significant over subscription of this financing. We are now able to aggressively explore our extensive land packages in the Fosterville-Toolleen area of the exciting gold rich Bendigo zone in Victoria, Australia and the Yalgogrin, Lachlan Fold, NSW.”

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 12 months from the closing date of the offering at a price of $0.10 per common share. If the closing price of the common shares of the Company on any stock exchange or quotation system on which the common shares are listed or quoted is equal to or greater than $0.15 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. Insiders participated in the aggregate amount of $86,345 for 1,233,500 units. The Company shall pay finders fees totaling $24,920 and issue 356,000 finders warrants.

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

The proceeds will be used for acquisition and exploration of the Company’s Australian gold projects and general working capital purposes.

Phil Thomas CEO stated, “This capital raising is a significant vote of confidence in our team and the quality of our exploration licences in Victoria.  It is the start of our trajectory to become a major explorer in the Fosterville-Toolleen area. We are also preparing for geophysics at Yalgogrin, NSW and geochemistry at Kingston, that we expect will expand our gold targets. The warrants give us a level of comfort for future funding as we achieve progress.”

About A.I.S. Resources Limited

A.I.S. Resources Limited is a publicly traded issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’s 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 its portfolio. The Company is managed by a team of experienced mining and geological professionals, with a track-record of successful capital markets achievements. In November 2020, AIS acquired the NSW Yalgogrin Gold Project JV, the Fosterville-Toolleen Gold Project and the Kingston Gold Project in Victoria Australia.

Corporate Contact

For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-747-200-9412
E: pthomas@aisresources.com
Or
Martyn Element. Chairman
T: +1-604-220-6266
E: melement@aisresources.com

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.