AIS Resources Options Pocitos 7 and 9 Lithium License to Australian Stock Exchange C29 Metals Limited in Argentina AIS’s 3rd Lithium Equity Royalty Stream, The Canadian Business Journal

VANCOUVER, British Columbia, October 19, 2022 (GLOBE NEWSWIRE) — AIS Resources Limited (TSX.V: AIS, OTCQB: AISSF) (“Company” or “AIS”) is offering a 9-month option to C29. announced that it had given Metals Limited (“C29”, ASX:C29), listed on the Australian Stock Exchange, will investigate his Pocitos 7 and 9 licenses for lithium at Pocitos Salar in Argentina. This will complete the Commercial Agreement for all selected Exploration Licenses (“Properties”) AIS from Ekeko SA at Pocitos Salar in June 2021.

C29 Option contracts – key elements

Option fee

• An initial option fee of US$25,000 per Exploration License is payable upon signing of the contract allowing for 30 days of property due diligence. AIS provided the current environmental report to C29 and received an initial optional fee of US$50,000.
• A second option fee of US$115,000 per exploration licence, payable 30 days after the first option fee for each property is paid, allows C29 to conduct a technical evaluation of the property until 30 March 2023. I can do it.
• A third option fee of USD 75,000 per license, payable within 2 days from March 30, 2023 after the technical evaluation is completed.
• If both licenses are purchased, the total potential option fee is US$430,000.

80% interest purchase

• US$2.38 million for 80% interest on both licenses to be paid on 30 June 2023 (1400Has x US$1,700 per Ha).
• AIS holds a 20% interest in both licenses.
• C29 has rights Buy 20% interest on AIS At a price determined by multiplying the FOB lithium carbonate price by 2% of the indicated and measured resource and 0.5% of the estimated resource of lithium carbonate equivalents (“LCE”) included.

Overview of Lithium Project and Royalty

Candela II, Inkawasi Salah
In Candela II, AIS holds a 20% interest. Spey Resources Corp “(Spey”) plans a one-year production drilling program.^st Spey has the right to purchase a 20% interest in AIS for US$6 million, assuming the resource does not exceed 45,000 tonnes of lithium metal equivalent or 239,000 LCE. If resources exceed 45,000 tons of lithium metal equivalent, Spey must pay an additional 250,000 US dollars for each additional 5 tons of lithium metal equivalent.

Pocitos 1, Pocitos Salah
At Pocitos 1, Recharge Resources (“Recharge”) began drilling a third well. Recharge has previously selected properties from Spey where he selected properties from AIS. AIS retains a 7.5% royalty on lithium carbonate sales.

Pocitos 2, Pocitos Salah
At Pocitos 2, Spey will begin drilling at the end of October 2022. AIS will retain his 7.5% royalty on lithium carbonate sales.

Yareta XIII, Cauchari Salar
AIS is exploring options for Cauchari Salar’s Yareta XIII property and is considering an expression of interest.

Both Spey and Recharge have signed offtake agreements with Richlink Capital Pty Ltd. to supply lithium to two customers of Richlink, a leading Chinese manufacturer of lithium products. Spey and Recharge have entered into a manufacturing agreement with his DLE lithium chemical manufacturing company EkoSolve Limited (“EkoSolve”) based in Australia (www.ekosolve.com.au).

About Ecosolve™
EkoSolve™ believes the plant can be built and commissioned within two years, subject to all regulatory approvals. The EkoSolve™ process uses solvent exchange with a superior ESG green footprint, consumes no fresh water, and retains 98.3% of the solvent after each process cycle. EkoSolve™ recovers over 93% of the lithium in brine.

Figure 1. Recharge Resources drill rig in action at Pocitos 1. Spey Resources Corp will begin drilling at Pocitos 2 in early November 2022.
https://www.globenewswire.com/NewsRoom/AttachmentNg/63926c76-614a-4067-bde4-52e4275bf131

The technical information in this news release has been reviewed by Phillip Thomas, BSc Geol, MBM, FAusIMM MAIG MAIMVA (CMV), a qualified person under the definition established by National Instrument 43-101 and a director of AIS Resources Limited. and approved. .

About AIS Resources Limited
AIS Resources Limited is a public investment issuer listed on the TSX Venture Exchange, focused on the exploration of lithium, gold, precious and base metals. AIS’s value-adding strategy aims to win promising exploration projects and increase the value of its portfolio by better defining mineral resources, with the aim of attracting joint his venture his partners to increase the value of our portfolio. is to increase The company is managed by a team of experienced geologists and investment bankers and has a proven track record of success in the capital markets.

AIS has a 100% interest in the 28 sq km Fosterville-Tulleen Gold Project located 9.9 km from the Fosterville Gold Mine on Lake Kirkland and a 60% interest in the 57 sq km Bright Gold Project (with a 100% right to acquire) , owns a 40% interest. 100% interest in the 58 sq km New South Wales Yargogling Gold Project and the 167 sq km Kingston Gold Project in Victoria, Australia near Stawell and Navarre. AIS has a 20% joint venture interest with Spey Resources Corp. in the Incahuasi Lithium Brine Project in Argentina. AIS also has the option to acquire four lithium blocks in Argentina’s Positos salt flats and one lithium block in Argentina’s Caucali salt flats. AIS has granted Spey Resources the option to acquire Pocitos 1 and 2 licenses by June 30, 2023. If exercised, AIS will retain a 7.5% royalty. AIS has granted C29 Resources an option to acquire an 80% interest in the Pocitos 7 and 9 licenses by June 30, 2023.

On behalf of the Board of Directors,
AIS Resources Limited

martin element
Representative Director and President

company contact
For more information, please contact:
Martin element.Chairman
Phone: +1-604-220-6266
E:[email protected]
Website: www.aisresources.com

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Advisory: This press release contains forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot give any assurance that they will prove to be correct and undue reliance should not be placed on them. There is none. Forward-looking statements address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof, and the Company may not make any forward-looking statements as a result of new information, future events or otherwise. or undertakes no obligation to publicly update or revise the information. Required by applicable securities laws. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

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