VANCOUVER, British Columbia, Sept. 12, 2024 (GLOBE NEWSWIRE) — A.I.S. Resources Limited (TSX.V: AIS, OTC- PINK: AISSF) (“AIS” or the “Company”) provides a corporate update regarding its ongoing gold exploration initiatives in Australia.
With the recent rise in gold prices, AIS has renewed its focus on advancing its exploration efforts. Over the next six months, the Company will assess previous exploration data and launch a detailed exploration program across its Australian gold assets.
AIS’ Key Gold Projects in Australia:
1. Fosterville-Toolleen Gold Project
- AIS holds a 100% interest in the 28 km² Fosterville-Toolleen Exploration License (EL6001), located just 10 km east of Agnico Eagle’s renowned Fosterville gold mine.
- Promising drill targets have been identified at Toolleen, with geological characteristics similar to the high-grade Fosterville mine.
2. Bright Gold Project
- AIS has a 60% stake in the 58 km² Bright Exploration License (EL6194), with the option to acquire full ownership.
- The Company is currently reviewing results from its 2023 drill program and is preparing to define additional high-potential drill targets.
3. Kingston Gold Project
- AIS holds a 100% interest in the 167 km² Kingston Exploration License (EL6318), which includes a small-scale mine with a 50-meter vertical shaft.
- AIS will receive 15% of the revenue from gold sales generated from the Vendor’s mining activities outside of their prospecting license.
These three properties, totaling over 250 km², are located in the highly prospective Lachlan Fold Belt in Central Victoria, often referred to as the “Golden Triangle.” According to the Geological Survey of Victoria, up to 75 million ounces of gold may still be undiscovered in the region.
Leadership Update
AIS is also pleased to announce the appointment of Muhammad Memon to its Board of Directors. Muhammad brings over 13 years of experience in finance and compliance for public companies across various industries, including mining, real estate, and technology. He has a wealth of expertise in financial reporting, corporate financing, investor relations, and regulatory compliance. He is a Chartered Professional Accountant in Canada and a Fellow of the Association of Chartered Certified Accountants in the UK.
Martyn Element, Chairman of AIS, stated, “We are excited to welcome Muhammad to our board. His expertise will be key in supporting AIS as we continue to expand and pursue new opportunities.”
At the same time, the Company announces the resignation of John McCleery from the Board of Directors, effective August 23, 2024. We sincerely thank John for his valuable insights as the Company evaluated its direction and wish him success in his future endeavors.
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded company listed on the TSX Venture Exchange. The Company focuses on natural resource opportunities, aiming to unlock value by acquiring early-stage projects and providing the necessary technical and financial support to develop them. AIS is guided by a seasoned team of engineers, geologists, and finance professionals with a proven track record of success in capital markets.
On Behalf of A.I.S. Resources Limited
Andrew Neale
President & CEO
Corporate Contact
For further information, please contact:
Martyn Element, Chairman of the Board
T: +1-604-220-6266
E: [email protected]
Website: www.aisresources.com
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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