A.I.S. Resources Completes Settlement with MGX Minerals

October 20, 2020

Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that further to its news release of May 19, 2020, the Company has finalized its settlement with MGX Minerals Inc. (“MGX”).

On November 1, 2019, the Company commenced an action against MGX in the Supreme Court of British Columbia claiming unpaid fees for exploration and related services. In May 2020, AIS entered into a settlement agreement whereby AIS was to receive shares in MGX in exchange for a release of MGX and termination of its lawsuit against MGX.  AIS has received 3,705,733 MGX shares, has provided the release to MGX and has terminated its lawsuit against MGX in accordance with the settlement agreement.

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 precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals, with a track-record of successful capital markets achievements. In July-August 2020, AIS entered into agreements to acquire and develop the Toolleen-Fosterville Gold Project in Victoria Australia and the Yalgogrin Gold Project in central New South Wales, Australia and is currently doing due diligence on the Kingston EL6318.

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

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.