VANCOUVER, British Columbia, Aug. 01, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V: AIS, OTCPINK: AISSF, FRA: 5YHA) (the "Company" or "AIS") confirms the Company will not proceed with the option to acquire a 100% interest in the 1,525 hectare Yareta XIII lithium concessions in Salta, Argentina.
Andrew Neale, President & CEO of AIS commented, "AIS 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 US$1.5 million, and AIS sees no economic incentive to continue with this property. Despite providing a comprehensive technical information package to numerous companies with expertise in lithium exploration, AIS has not received any third party offers to exercise this option."
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. AIS'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 track-record of successful capital market achievements.
On Behalf of the Board of Directors, AIS Resources Ltd.
Andrew Neale
President & CEO
Email: aneale@aisresources.com
Website:
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.
