A.I.S. Resources Continues Fast-tracking of Drilling Program at Toolleen, Yalgogrin and Kingston Australia

VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces after successful financing it will soon start additional drilling at its highly prospective Australian properties at Toolleen, Yalgogrin and Kingston.

Highlights

Toolleen Fosterville

The Toolleen exploration licence located 10km from Fosterville, is the closest exploration property to Kirkland Lake's 7.58 Moz Au Fosterville Gold Mine in Victoria, Australia which reported record Q2 2021 production of 157,993 ounces @ 28.1 Au making it one of the most profitable gold mines in the world. AIS will continue drilling at Toolleen as soon as soil sampling is completed in the new area and hopes to identify quartz spurs branching out from the main Toolleen fault zone which we anticipate will be mineralized with gold. Soil sampling will start in August once the heavy seasonal rains abate, followed by RC drilling to hone in on these structures.

Martyn Element Chairman stated, “Our goal at Toolleen is to find a deposit similar to Kirkland Lake’s Fosterville mine. The massive E79 Resources (CSE: ESNR) discovery, which has many similarities to AIS’s exploration work, shows how using modern methods can be hugely successful.  Due to the success of our recent financing we have the available funds to aggressively continue exploring the rich potential of our properties.”

Yalgogrin, NSW Australia

We are pleased to report that diamond drilling has now been completed to a depth of 183m at the Asia Wyalong drill site under the old Asia-Wyalong mine which had an historical average Au grade of 37g/tonne.  Logging, sampling and submission of drill core for assays is underway. Core has been split for holes 2-4, and 5-8 are currently being split and sampled. Samples will be sent to Onsite Laboratories for assays. 70 core samples (ID:YD0487-YD0556) have been delivered for gold fire assay.   We will then interpret results with respect to logged structures-assays and soil results to confirm structures.

Upon receipt of all results, an RC program will be planned to test the Walsh’s lode with infill drilling and extensions. We will also conduct infill drilling and extensions to Neighbours Farm to establish an Inferred Resource. Details of the RC program will be finalized pending the results of the diamond drilling program. It is expected that around 3,000m - 4,000m of RC drilling will be required to adequately test the areas to meet JORC Inferred Resource requirements.