AIS AIS Resources Limited

A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces it has completed logging the 224m of diamond drill core acquired from the Golden Bar reef drilling program on exploration licence EL006194. The core has been sawn, split and bagged for delivery to the laboratory for assay.

About the Bright Gold ProjectBright Gold Project EL006194 contains more than 250 historical gold mines, reefs (quartz veins) and gold occurrences dating back to the 1890’s. Historically the EL006194 yielded 341,000 oz gold at grades ranging between 7-991 2g/t, averaging 22 g/t Au. The largest producers on the Project were the Rose, Thistle and Shamrock mine @ 22.2g/t Au for 140,000 oz and the Oriental Mine @ 28g/t for 6,194 oz. The Bright Gold Project is in a premium location and only 6 km from E79’s Happy Valley Project. The Project and surrounds is comprised of many major historical workings and recorded production of over 730,0003 oz from both alluvial and rock mining. In December 2021 AIS acquired 60% of the Bright Gold Project from Clarus Resources Pty Ltd with the option to acquire 100%.

Fig 1 – Map of AIS Resources’ Bright Project and drill core from Golden Bar drilling program.https://www.globenewswire.com/NewsRoom/AttachmentNg/9e503ad5-739e-4069-b63e-7895d50d58b1

Phil Thomas, CEO commented, “We have been extremely active logging the core at the Golden Bar Prospect from the two drill holes completed to 104 and 119 metres. The core will be submitted for assay very shortly. Our geology team is currently preparing for some soil sampling to give us additional data on the targets identified prior to drilling. Given E79’s success and that it’s located only 7km away, we plan to identify and target similar gold bearing structures”. 

Fig 2 – Local area map of AIS Resources’ Bright Project surrounded by numerous highly prospective projects.https://www.globenewswire.com/NewsRoom/AttachmentNg/a7a670d9-262f-4274-9a37-4d11029c0969

Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol, MBM, FAusIMM MAIG MAIMVA(CMV) who is a Qualified Person under the definitions established by the National Instrument 43-101.

About A.I.S. Resources LimitedA.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’ 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 our portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a track-record of successful capital markets achievements.

AIS owns 100% of the 28 sq km Fosterville-Toolleen Gold Project located 9.9km from Kirkland Lake’s Fosterville gold mine, a 60% interest in the 57sqkm Bright Gold project (with the right to acquire 100%), a 60% interest in the 58 sq km New South Wales Yalgogrin Gold Project (with the right to acquire 100%), and 100% interest in the 167 sq km Kingston Gold Project in Victoria Australia near Stawell and Navarre. It also has joint venture interests with Spey Resources Corp in lithium brines in Argentina at Incahuasi and Pocitos salars.

On Behalf of the Board of Directors,A.I.S. Resources Ltd.Phillip Thomas, President & CEO

Corporate ContactFor further information, please contact:Phillip Thomas, Chief Executive OfficerT: +1-323 5155 164E:pthomas@aisresources.comOrMartyn Element.ChairmanT: +1-604-220-6266E:melement@aisresources.comWebsite: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.

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1   Ibid2,3 Recorded from mines of greater than 1,000 oz of production.4 “Victorian gold deposits”. Philps N and Hughes M. AGSO Journal of Australian Geology & Geophysics, 17(4), 1996. pp.215