Mr.
Marc Enright-Morin reports
A.I.S. RESOURCES ANNOUNCES PRIVATE PLACEMENT FINANCING WITH STRATEGIC INVESTOR
A.I.S. Resources Ltd. has arranged a non-brokered private placement of 4.6 million units at a price of 14 cents per unit for gross proceeds of $644,000.
A.I.S. chief executive officer Marc Enright-Morin stated: "We are pleased to welcome Phillip Richards of RAB Capital as a strategic investor as we prepare to advance our New Brunswick projects."
Each unit comprises one common share in the capital of the company and one-half of one transferable share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 20 cents per warrant share for a period of three years from the issuance date.
Proceeds of the private placement will be used for exploration of the company's New Brunswick projects and general working capital. Closing of the private placement is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.
About the Saint John project
The Saint John project is considered prospective for IOCG-style (iron oxide copper-gold) mineralization based on regional geological setting and the company's current exploration model. The property remains at an early stage of exploration, and further work is required to determine whether IOCG-style mineralization is present on the property. The IOCG exploration targets provide strategic exposure to gold, silver (precious metals), copper (energy transition metal), antimony and rhenium (critical minerals) as shown in the historical sampling data.
About the Pocologan project
The Pocologan project is an early-stage copper-gold-silver exploration project located in New Brunswick, Canada. The project is interpreted by the company to have potential for IOCG- or magmatic copper-gold-style mineralization as well as structurally controlled copper-silver-gold targets. Vendor compilation materials identify several target areas, including the Pennfield Station-Pocologan River and Red Head Harbour areas, where historical surface prospecting reportedly outlined copper, gold and silver mineralization associated with gabbroic, granodioritic, altered and sheared host rocks. The project covers approximately 21.5 square kilometres in southern New Brunswick, an established Canadian mining jurisdiction. The project area benefits from favourable infrastructure, including proximity to highways, rail, power, the deepwater port facilities at Saint John and a skilled regional work force.
About the Frenchmans Creek project
The Frenchmans Creek project is an early-stage, district-scale copper-gold-silver exploration project focused on IOCG/magmatic copper-gold and structurally controlled copper-silver-gold targets. Vendor compilation materials identify several target areas, where surface prospecting has outlined copper, gold and silver mineralization associated with gabbroic, granodioritic and altered/sheared host rocks. The project remains at an early exploration stage and requires systematic verification, mapping, sampling and geophysical work before any conclusions can be made regarding continuity or economic potential.
About A.I.S. Resources Ltd.
A.I.S. Resources 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. A.I.S. is guided by a seasoned team of engineers, geologists and finance professionals with a proven record of success in capital markets.
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