A.I.S. Resources to not proceed with Yareta option

Aug 1, 2023

2023-08-01 11:55 ET – News Release

Mr. Andrew Neale reports

A.I.S. DECLINES TO EXERCISE AN OPTION ON THE YARETA XIII SALAR IN ARGENTINA

A.I.S. Resources Ltd. will not proceed with the option to acquire a 100-per-cent interest in the 1,525-hectare Yareta XIII lithium concessions in Salta, Argentina.

Andrew Neale, president and chief executive officer of A.I.S., commented: “A.I.S. acquired this option in June, 2021, as part of a larger package of lithium properties arranged by the company’s previous CEO. While the concession area is quite large, less than half lies over the southern extent of the Cauchari salar in Jujuy province, the remaining concession area is over the exposed faces of the surrounding hills. A review of historical drilling data on the concession indicated the presence of fresh water only, with no significant lithium levels. The cost to exercise this option was slightly over $1.5-million (U.S.) and A.I.S. sees no economic incentive to continue with this property. Despite providing a comprehensive technical information package to numerous companies with expertise in lithium exploration, A.I.S. has not received any third party offers to exercise this option.”

About A.I.S. Resources Ltd.

A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. A.I.S.’s value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The company is managed by a team of experienced engineers, geologists and investment bankers, with a record of successful capital market achievements.

We seek Safe Harbor.

https://aisresources.com/