VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V: AIS, OTC-PINK: AISSF, FRA: 5YHA) (the “Company” or “AIS”) announces a renewed focus on gold exploration in Australia.  Through its wholly owned Australian subsidiary AIS Resources Aust. Pty, AIS continues to own:

• 100% interest in the 28 km² Fosterville-Toolleen Exploration License (EL6001) located 10 km due east of Agnico Eagle’s Fosterville gold mine,

• 60% interest in the 58 km² Bright Exploration License (EL6194), with an option to acquire 100%, and,

• 100% interest in the 167 km² Kingston Exploration License (EL6318).

These three advanced stage exploration properties, with a combined area of over 250 km², are all located in the Lachlan Fold Belt, also known as the Golden Triangle, located in the Central Victoria region of Australia. The Geological Survey of Victoria estimates that there may be up to 75 million ounces (Moz) of gold yet to be found in these Victorian goldfields.

Previous work has identified high potential drill targets on the Toolleen property, with geological characteristics very similar to the neighbouring high grade Fosterville mine.

The Kingston property encompasses a prospecting license owned by the property Vendor, that includes a 50-meter-deep vertical shaft and associated small-scale mine. AIS will receive 15% of gold sales revenue emanating from the Vendor’s mining activities outside of the Vendor’s prospecting license.

Andrew Neale, President & CEO of AIS commented, “The significant increase in gold prices has renewed interest in gold exploration, and the three properties in Australia are ready for immediate on-site work. Our major shareholders are indicating their ongoing support for work in this area, and the Company is actively engaged in evaluating opportunities to raise the appropriate funding,” The Company will be providing updates in a timely manner as these efforts progress.

As previously announced, AIS entered into an option agreement with American Salars Lithium Inc., (CSE: USLI, FRA: Z3P) on the Company’s remaining lithium project in Argentina. In early March, AIS completed a 1-for-10 reverse stock split as part of ongoing corporate restructuring efforts, reducing the total share count to approximately 20 million shares

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 various 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.