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A.I.S. Resources Verifies Assay Results and Completes Review of West Wyalong Advanced Gold Project in Australia

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that review of the Yalgogrin Orogenic Gold Project (the “Project”), has been completed with a three-day project inspection of the historic mines and geology on ELA6030 and EL5891. Twelve drill core samples from EL5891 have been verified as correct and show a strong correlation.

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A.I.S. Resources Announces Grant of Options

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Company has granted a total of 2,465,000 incentive stock options to various directors, officers, employees, and consultants of the Company in accordance with the Company’s stock option plan. Each Option is exercisable into one common share of the Company at a price of $0.07 per Share being the closing price of the Shares on the TSX Venture Exchange on August 25, 2020. The Options vested on grant and will expire on August 25, 2025.The stock options granted are subject to the acceptance of the TSX Venture Exchange.

About A.I.S. Resources Limited
A.I.S. Resources Ltd. 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. AIS has been involved in manganese trading from mines in Peru. In July-August 2020, AIS entered into agreements to acquire and develop the Tooleen-Fosterville Gold Project in Victoria Australia and the Yalgogrin Gold Project in central New South Wales, 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.

A.I.S. Resources Signs Binding LOI to Acquire the Toolleen-Fosterville Gold Project EL006001

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that on August 24th, 2020 the Company entered into a Binding Letter of Intent (“LOI”) with Providence Gold and Minerals Pty Ltd (“PGM”), to acquire the Toolleen-Fosterville Gold project (the “Project”) located 3 km from the township of Toolleen and 12 km from the Kirkland Lake Fosterville gold mine. The Project is situated on freehold land and has no native title claim.

Fig 1 – The newly announced 26 sq. km. Toolleen-Fosterville Project shown in yellow is conveniently located only 42 miles from Bendigo, and 12 km from the 7.58 Moz Au Fosterville Gold Mine.

Close to the 7.58Moz. Gold Fosterville Mine
AIS President & CEO, Phillip Thomas commented, “With the Toolleen-Fosterville Project’s close proximity to the 7.58 Moz. goldFosterville Mine(Kirkland Lake Gold–KL-NYSE) we are in good company. To be able to acquire a property with an open cut mine, free gold on the surface, substantial geological work and evidence of quartz augurs well. Other explorers around our new project include: Fosterville South Exploration (FSX-V), Nubian Resources (NBR-V), Catalyst Metals (CYL-AX), and Petratherm Limited (PTR-AX). The Project area, which is adjacent to the recently lifted exploration moratorium area, is located within the Bendigo-Ballarat Zone of the Palaeozoic Lachlan Fold Belt of eastern Australia and the greenstone corridor running north south. The gravity survey shows highly prospective areas. The experience at Fosterville and Bendigo suggests that the shallow gold mineralisation may be indicative of high-grade shoots that can be mined by underground methods. This exploration project is a perfect addition to the AIS Resources’ more advanced exploration stage Yalgogrin Gold Project. The Company is finalizing definitive agreements for the Yalgogrin and Toolleen-Fosterville Gold Projects and is looking forward to executing its exploration plans in Australia.”

Toolleen-Fosterville Project Acquisition Terms
Under the terms of the LOI, AIS Resources will acquire 100% interest in the Project, by paying AU$375,000 (CAD$356,250) and issuing AIS shares equal to AU$375,000 (CA$356,250) to the Vendor, PGM. A 1% NSR is payable on all gold production. The Acquisition is expected to occur by September 14, 2020 and is subject to the receipt of all necessary approvals and all conditions having been satisfied or waived with respect to the terms of the LOI including the approval of the TSX Venture Exchange.

The vendor’s geologist, Dr. Rodney Boucher, a pre-eminent Geologist with over 25 years experience in central Victoria geology will be assisting in the handover and future work on the Project. Several prospectors have been on the EL tenement ground and surrounding tenements and have recovered surface gold.

Fig 2 (L) – Open cut mine on the northern extent of the property • Fig 3 (R) – Dr. Boucher (foreground) inspecting the surface scree while discussing paleochannel and reef evidence with Tom Burrowes of PGM.

Local Geology Prospective for Gold Deposits
The Toolleen Gold Zone was mined underground until 1957 with a reported 7,000 tonnes @ 10g/t Au being produced from the top 60 metres. Willman (2007) showed that the best mineralisation at both Bendigo and Castlemaine was found a few kilometres into the hanging walls of major faults thus, these areas of shallow cover are both prospective and easy to explore. PGM had previously discovered the Four Eagles project operated now by Catalyst Metals in the hanging wall in a similar position. The Mt William Fault transects the tenement in a north-west south-east direction.

Fig 4 (L) – Gold nuggets recovered from one of the farms on EL6001 • Fig 5 (R) – Angular reef quartz and rounded glacial quartz scree of Permian glacial origin.

The Lachlan fold belt has been subdivided into eight zones based on age, rock types and structural history (Grey, 1988). The Permian glaciation is evidenced by small subsurface and locally outcropping occurrences of glacigene sediments that provide evidence of the glaciation. This occurred in eastern Australia during the lower Permian affecting the Toolleen area. Fluvio-glacial and glacial sediments crop out poorly and tend to be preserved in down faulted blocks or have been reworked into younger deposits. EL006001 is east of the Mt William fault.

Fluvial sediments have reworked Palaeozoic reef quartz and gold along with Permian glacial clasts into ancient rivers that criss-cross the tenement during the Cenozoic. Fosterville is unique in the region as it represents a large North striking West dipping fault reef up to 20 metres wide and eight kilometres long hosting rich gold reefs with finely disseminated gold. . Fosterville was attractive due to the arsenopyrite-hosted, fine disseminated folding (even though it wasn’t unique with similar mineralisation at Nagambie & Bailieston and even in small parts of Bendigo and Daylesford), but has become famous for the abundant nuggetty gold.

At the deposit scale, high-angle secondary reverse faults and dilational cross structures served as conduits for the mineralising fluids. In addition to the fault-controlled mineralisation, where accommodation occurs at the apexes of tight fold hinges, mineralisation can occur as stacked ‘saddle’ or ‘trough’ reefs as commonly seen within the Bendigo area.

Fig 6 – Faults and block movements in the Toolleen and surrounding area.

Technical information in this news release has been reviewed and approved by Phillip Thomas, CEO of AIS, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About A.I.S. Resources Limited
AIS Resources Ltd. is a publicly traded investment issuer listed on the TSX Venture Exchange focussed on precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals. AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, Australia.

A.I.S. Resources Ltd.
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-747 200 9412
E: pthomas@aisresources.com
Or
Martyn Element, Executive Chairman
T: +1-604 687 6820
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. 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 Debt Settlement

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has entered into a debt settlement agreement to settle $117,046 USD in debt owing to Energold Argentina SA. 

Under the terms of the debt settlement agreement AIS will pay $75,000 USD in cash and issue 143,463 common shares having a market value of $5,000 USD ($6,599 CAD) to Energold. The deemed price of the 143,463 common shares is $0.046 per share which was calculated by using the volume weighted average closing share price on the last 5 trading days prior to the date of this news release.

The issuance of the shares is subject to TSXV acceptance.

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.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, 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.

A.I.S. Resources Announces Closing of Financing

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has closed its non-brokered Private Placement of 27,833,333 Units of the Company for gross proceeds of to $835,000. 

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 $0.08 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 $0.10 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. No finders fees are payable with respect to this placement.

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 Yalgogrin Project and general working capital purposes.

Certain directors and officers are expected to 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.

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.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, 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.

A.I.S. Resources Announces Financing Increase and Price Amendment

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it is amending the price of the previously announced non-brokered private placement (See news release dated July 22, 2020) from $0.04 to $0.03 per unit. (the “Private Placement“) and increasing gross proceeds to up to $835,000.

The private placement at the revised price will consist of up 27,833,333 units for gross proceeds of up to $835,000. 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 $0.08 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 $0.10 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 may pay finders fees of up to 8% cash and 8% finders warrants on a portion of the placement. 

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.

The proceeds will be used for acquisition and exploration of the Yalgogrin Project and general working capital purposes.

Certain directors and officers are expected to 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.

About AIS Resources
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.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, 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.

A.I.S. Resources Announces Financing Price Increase

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it is increasing the price of the previously announced non-brokered private placement (See news release dated July 22, 2020) from $0.02 to $0.04 per unit. (the “Private Placement“).

The private placement at the revised price will consist of up to 18,675,000 units for gross proceeds of up to $747,000. 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 $0.08 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 $0.10 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 may pay finders fees of up to 8% cash and 8% finders warrants on a portion of the placement. 

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.

The proceeds will be used for acquisition and exploration of the Yalgogrin Project and general working capital purposes.

Certain directors and officers are expected to 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.

About AIS Resources
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.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, 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.

A.I.S. Resources Identifies Six Reefs in Sheehans Historic Mine Area and Commences Due Diligence for West Wyalong Advanced Gold Project

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces commencement of due diligence on the Yalgogrin orogenic gold project (the “Project”) with a detailed review of RC and Air Core drilling sample trays and surface samples and identification ofsix reefs in Sheehans historic mine area.

Fig 1. Sample fire assay 1.76gm/t Au with manganese replacement and pyrite crystal voids. Fig 2 Sample fire assay 1.01gm/tonne Au and a large pyrite crystal void.

The detailed information has been entered into Micromine and Mapinfo software. Rockchip samples were reviewed and four samples had fire assay gold values of 4.89gm/t YR74, 4.82gm/t YTRD, 1.012gm/t YR21, and YR8 1.756 as well as silver being present.

Six Reefs Discovered On EL6030
Approximately 10.1 km southwest of Yalgogrin is a group of workings comprising the Asia-Wyalong Mine, Rowe and Prestons Mine, and the Sheehan Mine, which were staked as EL6030. Further research has identified six reefs in the Asia Wyalong – Sheehans historic mine area. Magnum Gold NL conducted some auger drilling in 1990. The main workings comprise of three shafts up to 91.5m deep, drives, crosscuts, winzes, stoping and shallow pits extending about 15.3m over the surface. Prior work was mostly carried out between 1932 and 1936 on a number of quartz veins, which were between 0.76 and 2.2m wide. They strike 340o, with a near vertical dip.

Altogether there are six parallel reef lines within a 60m wide strip. They run parallel to the cleavage and include numerous smaller crosscutting veins. The richest gold is reported to have come from the intersection between the main veins and the smaller veins. Officially, a total of 21.225 kg of gold was won from ore yielding 36g/t (1.15 troy oz) Au up to 1936. Fig 3 below shows the arsenic contours that correlate with gold at 20 ppm, eight mine workings, the main shaft and head frame and the auger locations.

Fig 3. Arsenic is correlated with gold and this map shows the Arsenic (As) contours and old workings.

Thomson Resources Ltd (ASX:TMZ) has staked around the EL5891 tenement completely.

Exploration Strategy for the Yalgogrin Gold Project
The primary exploration targets on EL 5891 are large tonnage low to medium grade deposits amenable to open pit mining. The secondary exploration targets on EL 5891 are high grade resources amenable to underground mining. The tenement is deemed prospective for these types of mineralisation due to:

  • extensive gold in soil anomalism;
  • historical high grade gold mining;
  • high grade rock chips;
  • extensive low grade rock chips;
  • extensive mineralisation identified in trench sampling;
  • intersecting mineralized veins sets;
  • extensive mineralisation intercepted in drilling;
  • extensions to known mineralisation interpreted from high resolution geophysics;
  • location in a historic gold field within a regional setting that has large tonnage deposits that have been mined;
  • distribution of historical workings; and
  • large resources that have been identified in similar settings globally.

Fig 4. Shelly’s mine workings and exploration showing gold in 9 occurrences >0.2gm/t.

Fig 5. Location of Walsh’s – Hollande exploration target Yalgogrin EL 5891.

Chip Tray Analysis from Prior RC Drilling

Fig 6. Chip tray from one of the 27 RC and AC drill holes assayed every 1m. DH YAC 72 assayed 5-7m interval 1.6gm tonne, and 7-9m 3.8gm/tonne Au.

Phillip Thomas, President & CEO of AIS, commented, “AIS is very pleased to have secured this opportunity to explore and develop an advanced-stage

Exploration at the Yalgogrin Gold Project
Interpretation of a 250,000 to 350,000 m3 target extending from the Hollande prospect through to Walsh’s prospect has been ascertained from 21 drill holes (including AC and RC) and three costeans. The body is dipping at approximately 30 degrees to the southwest and interpreted down to 35 m, which approximates base of oxidation evidenced by aircore refusal. The average intercept grade ranges from 0.5 to 2.5 g/t Au within the target. Waste to ore ratio of the interpreted body based on simple pit outline approximates 2:1. The mineralisation is open along strike to both the northwest of Hollande and also to the southeast of Walsh’s as shown in Figure 3.

Phillip Thomas President and CEO stated, “The quality of the comprehensive records kept by the vendor is impressive. All files are up-to-date and reports lodged. The data is easy to access. We look forward to completing the due diligence when we visit the property in the week commencing 27thJuly. The grades of gold and mineralogy are very exciting”.

Fig 7. Magnetic survey showing Au soil contours and magnetic values in nano teslas with pink lines delineating areas of interest with >950ppb of gold.

Rehabilitation work has been completed and the report lodged satisfactorily for the 69 auger holes and 27 RC and air core holes. Technical information in this news release has been reviewed and approved by Phillip Thomas, a Director of AIS, who is a Qualified Person under the definitions established by the National Instrument 43-101 and a Certified Mineral Valuer.

About the Yalgogrin Gold Project
The advanced-stage exploration project is located in the Lachlan Fold Belt of NSW in the historic Yalgogrin goldfield. The project covers 5,880 hectares (14,530 acres) and is only37 km west of the town of West Wyalong on the Newell Highway and 595 km north of Melbourne,

About A.I.S. Resources Limited
A.I.S. Resources Ltd. is a publicly traded investment issuer listed on the TSX Venture Exchange focussed on precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals. AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, Australia.

A.I.S. Resources Ltd.
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-747 200 9412
E: pthomas@aisresources.com
Or
Martyn Element, Executive Chairman
T: +1-604 687 6820
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. 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 Financing

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces a non-brokered private placement of up to 37,350,000 units (“Units“) at a price of $0.02 per unit for gross proceeds of $747,000. (the “Private Placement“). The proceeds will be used for general working capital purposes.

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 $0.08 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 $0.10 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 may pay finders fees of up to 8% cash and 8% finders warrants on a portion of the placement. 

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 are expected to 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.

About AIS Resources
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.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, Australia.

Corporate Contact
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-747 2009412
E: pthomas@aisresources.com
Or
Martyn Element. Chairman
T: +1-604 687 6820
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.

A.I.S. Resources Signs Binding LOI for West Wyalong Advanced Gold Project with DDH YAC5 Intercept of 9m at 2.7gm/t and 1m at 21.5gm/t

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Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that on July 17, 2020 the Company entered into a binding letter of intent (“LOI”), to acquire the Yalgogrin orogenic gold project (the “Project”), with Auger results of 12.5 gm/t and 32.3 gm/t, and 14 DDH’s with intercepts ranging from 1.9 gm/t to 1m at 21.5 gm/t. The Project is located in the historic West Wyalong gold corridor of central NSW, Australia which produced 445,700 oz gold mined between 1894-1921. Denis Walsh, the vendor, is a senior consulting geologist at the Victoria Fosterville gold mine.  AIS will acquire two exploration licences (ELs) the EL5891 tenement, which is 2.8 sq. km. (280 ha) and the EL6030, which is 56 sq. km. and encompasses two historical gold mines.

Fig 1. Regional magnetic survey

Located approximately 37 km. west of the town of West Wyalong on the Newell Highway and 595 km. north of Melbourne, this advanced-stage exploration project is in the Lachlan Fold Belt of NSW in the historic Yalgogrin goldfield.  Thisregion has seen significant gold mining over the past 100 years and currently has three major operating gold projects:

  • Cadia Newcrest 220 km north west producing 900,000 oz of gold a year,
  • Lake Cowal Gold Mine which is 40 km from Yalgogrin project, that was purchased by Evolution for $550 million, and
  • North Parkes, a copper and gold mine 168 km to the northeast thatin 25 years has produced 1.464 million ounces of gold and 1.168 million tonnes of copper.

Fig 2. EL6030 covers 56 sq. km. including the Talmore, Sheehan and Asia Wyalong mines, and EL5891 covers the Walshes.

Thomson Resources Ltd (ASX:TMZ) has staked around the EL5891 tenement completely.

Local Geology
The local geological environment is a magnetic, magmatic complex of Ordovician age located within the Lachlan Fold Belt. Numerous gold deposits occur in the West Wyalong Temora Adelong district, many of them close to the Gilmore Suture, which is delineated by regional aeromagnetic and gravity data. A sequence of Late Ordovician metasediments, which have been intruded by granites of (mostly) Silurian age is situated to the west of the suture. To the east of the suture, Ordovician metasediment strata form basement to an extensive sequence of volcanics and sediments which have been intruded by granitic dioritic, and gabbroic bodies of (mostly) Early Devonian age.

Granodiorite phases of the Siluro-Devonian batholiths are the host to, or were the source of substantial primary and secondary gold mineralisation at Adelong, West Wyalong, and Sebastopol-Junee Reefs (some orebodies) along the Gilmore Fault Zone.

Fig 3. Geological Model from Drill hole data on the tenement.

Phillip Thomas, President & CEO of AIS, commented, “AIS is very pleased to have secured this opportunity to explore and develop an advanced-stage gold project in the exciting historic gold district of New South Wales, Australia.  The Project is geophysics and drill- ready with 3,795 metres over 14 drill holes already completed and a substantial drill hole and magnetic survey database from other explorers from 1953 when BHP explored the area. The goal is to fast-track the Project towards resource estimation, feasibility and then mine development in the Neighbour, Last Hurrah, Walsh, Adelaide, and Holland deposits. The Adelaide mine area is not yet drilled.  The Company plans IP geophysics and drilling as soon as possible with a focus onBulk Tonnage, near surface lower grade opportunities; Down dip/plunge and along strike of Holland/Walsh’s/Last Hurrah 500 m trend, Bonanza grade narrow vein targets near Adelaide Mine and down dip/plunge of 140 m strike workings to 55 m depth, grades equivalent to 1 m@24 g/t Au; Bonanza grade narrow vein targets at Neighbours Farm; Down dip/plunge of 14 m @ 2.6 g/t Au (entered old stope) from 1 m and along strike to 32.3 g/t Auger result.”

Fig 4. Top target the Neighbours Farm prospect.

Planned Property Exploration Program
The tenement offers:

  • Mineralised system of significant scale containing numerous ‘walk-up’ drill targets;
  • Open high grade near surface intersections;
  • Untested historic workings with reported high grades;
  • Bulk tonnage lower grade potential;
  • Oxide heap leach planned;
  • Land access secured and excellent relationships established.

Our aim is to define the oxide resource, provide targeting guidance for deeper exploration. In summary the program entails 5000 metres percussion reverse circulation with downhole geophysics (Optical televiewer), 240 metres of oriented diamond core holes (HQ3), QA/QC, DGPS survey, downhole surveys, handheld pXRF multi-element, gold fire assays with 50g charge on 1m intervals; preliminary metallurgical test work, resource estimate of oxide mineralisation, and an IP survey to guide further exploration at depth. Our estimated Cost is approximately AU$650,000. The planned outcome will be a NI43-101 Compliant gold oxide resource with IP Chargeability and Resistivity Inversions for drill hole guidance.

Due Diligence
AIS has paid a AU$10,000 option fee per month, for three months to complete due diligence. The Company plans to prepare a National Instrument 43-101 Technical Report on the Project in accordance with regulatory requirements. All the work since 2001 has been done by Denis Walsh, a Qualified Person under NI 43-101. He is also the senior geologist working at Fosterville gold mine in Victoria that produced 155,106 ounces of gold this past quarter.

Acquisition Terms
Under the terms of the LOI, AIS has paid an AU$10,000 (approximately, C$9,500) deposit per month for an exclusivity period of 90 days during which time AIS will undertake due diligence and the parties will finalise and enter into a definitive agreement. As part of the LOI, Walsh will be granted 2% net smelter return royalty on the first 50,000 oz production.

Under the terms of the LOI, AIS will acquire a 60% interest in the Yalgogrin Gold Project in exchange for (i) a cash payment of AU$275,000 (approximately, C$261,250) on the definitive agreement date, (ii) the issuance, on the definitive agreement date, of AU$125,000 (approximately, C$118,750) of AIS common shares; to acquire the remaining 40% AIS will iii) incur exploration expenditures of AU$750,000 (approximately, C$712,500) in the 12 month period post the signing of the definitive agreement. and (iv) the issuance on the date that is 18 months from the Definitive Agreement date of AU$600,000 (approximately, C$570,000) of AIS common shares at the 20-day volume-weighted average price (“VWAP”) immediately preceding such date.

Closing of the Definitive Agreement is subject to, among other things, the receipt of all necessary approvals and all conditions having been satisfied or waived with respect to the terms of the LOI including the approval of the TSX Venture Exchange (the “Exchange”). Technical information in this news release has been reviewed and approved by Phillip Thomas, a Director of AIS, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About AIS Resources Limited
AIS Resources Ltd. is a publicly traded investment issuer listed on the TSX Venture Exchange focussed on precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals.  AIS has been involved in manganese trading from mines in Peru. In July 2020, AIS entered into an agreement to acquire and develop the Yalgogrin Gold Project in central New South Wales, Australia.

For further information, please contact:
Phillip Thomas, Chief Executive Officer, AIS Resources Ltd.
T: +1-747 200 9412
E: pthomas@aisresources.com

Or
Martyn Element, Executive Chairman
T: +1-604 687 6820
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. 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.