A.I.S. Resources announced today that it has signed an option agreement with Ekos Research to invest US$1m for 15% equity in its extraction process.
A.I.S. Resources Limited (TSXV:AIS, OTCQB:AISSF) (the “Company” or “AIS”) announced today that it has signed a 120 day option agreement with Ekos Research to invest US$1m for 15% equity in its break-through SOLVEX solvent extraction process.
- The process is the culmination of three years research and development by Ekos Research, University of Melbourne and University of Tsinghua, China.
- Lithium extraction rates exceeded 99% and were able to produce greater than 99.2% purity lithium. More than 90% of the solvents can be reclaimed and it has 98.5% efficiency in removing major ions such as magnesium, calcium, potassium and boron.
- The process is much more economic than fractional crystallization as no ponds are required, reducing the investment by more than 60%. It is very efficient at handling high magnesium brines that pose a serious recovery problem using other technologies such as membranes, reverse osmosis, ion exchange and fractional crystallization.
- The US$1m investment will go towards building a pilot plant in Melbourne that will be subsequently shipped to Salta, Argentina, where brines will be processed to demonstrate commercial viability.
- Pilot plant construction is expected to be completed 9 months after funding is received.
About AIS Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer that is managed by experienced, highly qualified professionals who have a long track record of success in lithium and manganese trading, exploration, production and capital markets. Through their extensive business and mining networks, they identify and develop projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the mining and trading of manganese ores in Peru, and exploration and development of lithium brine projects in northern Argentina.
On Behalf of the Board of Directors, A.I.S. Resources Limited
President and CEO
Phillip Thomas – President and CEO
T: 604 687-6820
ADVISORY: This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.