AIS Resources – Overview of Six Lithium Projects

AIS Resources has assembled a group of six highly prospective lithium projects located in three salars in Northern Argentina.

Candela II Project, Incahuasi Salar

Located in the Incahuasi Salar in the Lithium Triangle of Northern Argentina.

• AIS retains a 20% equity interest.
• 300 hectares mineral claim.
• Spey Resources has a production drilling program planned for 1st quarter 2023.
• Spey can buy out AIS’s 20% interest for US$6 Million.
• If resource exceeds 45,000 tonnes lithium metal equivalent AIS receives US$250,000 for each additional 5 tonnes of lithium metal equivalent.

Pocitos 1 & 2 Projects, Pocitos Salar

Located in the Pocitos Salar in the Lithium Triangle of Northern Argentina.

• AIS retains a 7.5% royalty on lithium carbonate sales for both properties.
• AIS/Spey have optioned to Recharge Resources.
• Pocitors 1 – 800 hectares mineral claim.
  • Recharge Resources has commenced drilling a third well.
• Pocitors 2 – 532 hectares mineral claim.
  • Spey Resources will commence drilling at the end of October 2022.
• AIS has spent US$1.5M exploring the project.

Pocitos 7 & 8 Projects, Pocitos Salar

Located in the Pocitos Salar in the Lithium Triangle of Northern Argentina.

• AIS retains a 20% interest in both licences.
• Optioned to C29 Metals Limited, listed ASX: C29) to evaluate lithium potential.
• 1,400 hectares mineral claim.
• Located on the southern end of the Pocitos Salar.
• Total option fee of US$430,000 for 9-month exploration licence.
• Geophysics TEM survey and deep trench sampling completed in 2018.
• Results showed low resistivity indicating sandy units containing brine may be present.
• Purchase of 80% Interest – US$2.38 million in both licences payable June 30, 2023.
• C29 has the right to buy out AIS’s 20% interest at a price determined by the FOB lithium carbonate price multiplied by 2% of the indicated and measured resource and 0.5% of the inferred resource of the contained lithium carbonate equivalent (“LCE”).

Yareta III, Cauchari Salar

Located in the Cauchari Salar in the Lithium Triangle of Northern Argentina.

• AIS is seeking to option the property and currently reviewing expressions of interest.
• 1,575 hectares mineral claim.
• Located at the southern end of the Cauchari Salar near Orocobre’s properties (now Allkem ASX:AKE).
• Gravity survey and TEM south east survey conducted by Orocobre in 2010 with results indicating if brine exists it will be at depth.
• 2010 Gravity / TEM survey conducted by Orocobre results indicate if there is brine it will be at depth in the southern end.

AIS Partner, Recharge Resources’ drill rig operating at Pocitos 1 located in the Pocitos Salar in the Lithium Triangle of Northern Argentina.