VANCOUVER, British Columbia, March 27, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that consistent with its strategy to acquire battery material projects, it has sourced a deposit of manganese with high concentration. A Letter of Intent has been exchanged with the resource owner and negotiations are proceeding to secure an extraction agreement based on a royalty payment. Legal due diligence has been completed.
Phil Thomas, CEO and Director of Exploration visited Peru recently and was able to inspect a number of manganese properties in the south and north of Peru. This project is located approximately 300km north of Trujillo in the north, where the Salaverry Port will be used for shipping.
Phil Thomas CEO said that, “We are delighted to find a high grade manganese property that has excellent mine road access, good power and water supply, and sealed roads just 3km from the project. The very pro-mining community is 5km from the mine. The project currently has a mining permit for 350 tonnes per day but in the near future we will apply for permits to increase this tonnage. Five grab samples were taken from the three main bodies and we expect the ICP analysis to be available in the next few days from Alex Stewart in Lima, Peru.”
Phillip Thomas, BSc. Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a shareholder.
About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.
On Behalf of the Board of Directors, A.I.S. Resources Limited
President and CEO
Phillip Thomas - President and CEO
T: 604 687-6820
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.
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