Lithium Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4 ) ("ION" or the "Company") is pleased to announce an update on the Victory Nickel Project in Mongolia, following the exploration joint venture that was entered into with Aranjin Resources Ltd. ("Aranjin") (TSXV: ARJN), in February 2022.
HIGHLIGHTS
Ali Haji, CEO & Director of Lithium Ion Energy, stated, "We are extremely pleased to be able to formalize our agreement with Aranjin, realizing the upside of the Victory Nickel deposit by carving out the discovery from the large Baavhai Uul licence enabling Aranjin to immediately begin to unearth value, while ION continues to have a 20% carried interest in the project and all Lithium rights therein."
Victory Nickel Project - Mongolia
Further to the announcement on February 1, 2022, Lithium Ion Energy has now formalized its 20% ownership interest in the Victory Nickel Project further to the announcement on February 1, 2022. The Joint Venture arrangement consisted of the Company and Aranjin Resources granting one another reciprocal exploration rights on their respective exploration licences within Mongolia. ION and Aranjin granted each other a reciprocal right to explore one another's properties, with Aranjin earning an 80% interest and ION earning a 20% interest in all base metal projects discovered on ION's properties, and ION earning an 80% interest and Aranjin earning a 20% interest in all lithium projects discovered on Aranjin's properties, subject to existing royalties.
Following exploration work by both parties in 2022 and 2023, the parties agreed to formally separate their ownership of the Baavhai Uul project previously wholly owned by ION to largely mirror the business arrangement set out in the Joint Venture Agreement. The split of the Baavhai Uul licence is pending approval by the Mineral Resource and Petroleum Authority of Mongolia. Under the Joint Venture, Aranjin will own 80% of the Victory Nickel project and relinquish rights to the remainder of the licence comprising the Baavhai Uul project. Ion Energy will retain a 20% free carried interest in the Victory Nickel Project until commercial production as well as retain all lithium rights to the Victory Nickel Project.
About Lithium ion energy ltd.
Lithium iion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION will have significantly enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and statements, and the prospectivity of its exploration property portfolio for lithium mineralization. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, and delays in the development of projects. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183462
News Provided by Newsfile via QuoteMedia
Lithium ION Energy Ltd. (TSXV:ION, OTC:IONGF, FSE:5YB) is a battery metal exploration company focusing on lithium exploration in southeast Mongolia. The company holds one of the largest mining licenses in Mongolia and is leveraging its first-mover advantage to explore an area of more than 80,000 hectares containing lithium brine targets.
The global lithium market is projected to grow to US$6.62 billion by the end of 2028 driven by demand from the green energy and electric vehicle markets. Rising concern over global carbon emissions is leading to the increasing adoption of green technologies, including electric vehicles and large-scale energy storage solutions, all of which require massive amounts of battery metals like lithium, cobalt and nickel. Governments around the world, including the United States and China, are working to secure a steady supply of battery metals to prepare for a green energy future.
The Mongolian government has granted Lithium ION Energy one of the largest exploration licenses in the country for the company’s Baavhai-Uul project in the Sukhbaatar province. The 81,758-hectare asset contains high-grade, near-surface lithium brines of up to 810 parts per million (ppm) with low potassium and magnesium ratios, which makes for better crystallization of the lithium hydroxide. ION Energy is the first company to be granted a license for this asset, which has never been mined before. Previous exploration work has been conducted on the project by the Technical University of Mongolia and the Mongolian government.
The potential for significant deposits is driven by the geology of Southeast Mongolia, which mirrors the famed Lithium Triangle of South America. Like the Lithium Triangle, the region is an endorheic basin contained within a low precipitation zone.
Lithium ION Energy’s management team has extensive experience working with the Mongolian government, which has been largely supportive of mining exploration within the country. The Mongolian economy is largely commodity-based and is considered by the World Bank to be stable and growing. Mongolia’s Foreign Investment Promotion and Protection Agreement (FIPA) with Canada, signed in 2017, established a legal framework under which Canadian investors working in Mongolia are offered greater predictability and certainty for their investments.
Outside of Mongolia, Lithium ION Energy is exploring opportunities in Canada. It has signed a definitive agreement to acquire the Bliss Lake Lithium Pegmatite project in the Northwest Territories. The project is 5,798 hectares in area and totals five contiguous licenses. It is located less than 15 kilometers from Li-FT Power Ltd's "Road Access Group," where numerous lithium-bearing pegmatites have been identified and sampled with over 1 percent lithium oxide. Numerous pegmatite occurrences have been identified from landsat images on the Bliss Lake Project, the largest of which is interpreted to be more than 300 meters in strike length.
Get access to more exclusive Lithium Investing Stock profiles here
First-mover Advantage for Lithium in Southeast Mongolia
Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into a binding Joint Venture Agreement with SureFQ Ltd. ("SureFQ") for the advancement of the Urgakh Naran project in Mongolia, in which ION will continue to hold a 20% free carried interest through to commercial production.
Highlights:
"This milestone is a testament to the ION team's perseverance to deliver upon a strategic partnership that ensures the advancement of our UN asset at a time of historical low Lithium prices; demonstrating a path to production with associated upside that benefits our shareholders. We continue to see Urgakh Naran as an asset with significant potential and are excited to bring on a partner with proven technology that ensures revenue generation expeditiously," said Ali Haji, CEO & Director - Lithium ION Energy Ltd.
"SureFQ is thrilled to support this transformative partnership, which not only accelerates the development of the Urgakh Naran project, but also underscores the resilience and foresight of the ION team. In a challenging lithium market, strategic collaborations like this pave the way for sustainable growth and long-term value creation. We look forward to the positive impact this venture will have on the industry and stakeholders alike," said Hao Qu, CEO - SureFQ.
The Joint Venture agreement was signed effective March 26, 2025. The transaction is expected to close by July 1, 2025, subject to TSXV approval.
Debt Settlement
The Company further announces that it has negotiated debt settlements with certain non-arm's length creditors (the "Debt Settlement"). Pursuant to the Debt Settlement and subject to acceptance by the TSXV, the Company has agreed to settle an aggregate amount of $120,000 in debt, in consideration for which it will issue an aggregate of 3,000,000 common shares of the Company at a deemed price of $0.04 per share.
All securities issued in relation to the Debt Settlement will be subject to a hold period expiring four months and one day after the date of issuance in accordance with applicable securities laws and the policies of the TSXV. Completion of the Debt Settlement remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.
Related Party Transaction
The conversion of debt to shares by insiders will be considered a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available, because no securities of the Company are listed on specified markets, including the TSX, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or any stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the PLUS markets operated by PLUS Markets Group plc. The Company is also relying on the exemption from minority shareholder approval requirements set out in MI 61-101 as the fair market value of the participation in the Offering by the insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. It is likely the Company will not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering as the Company wishes to close the Offering in an expeditious manner.
Update On Contemplated Business Combination
ION also announces that it is no longer pursuing the contemplated business combination transaction with United Rare Earths as previously announced on October 29, 2024. Following a thorough review of the contemplated transaction by the Board, a collective decision was arrived at not to pursue the transaction. The Board continues to evaluate additional Lithium and critical metal projects to align with our strategic objectives.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship 65,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About SureFQ Ltd.
SureFQ is dedicated to advancing innovative and sustainable solutions in the lithium and energy sectors. As a strategic investment and development firm, SureFQ focuses on fostering high-potential projects that drive the global energy transition. Leveraging SureFQ's extensive industry expertise and technological capabilities, SureFQ plays a pivotal role in accelerating lithium resource development and deploying cutting-edge extraction technologies. Through its partnerships and investments, SureFQ is committed to ensuring a stable and efficient supply of critical materials for the clean energy revolution.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Hao Qu, quhao@litioconstante.com
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed joint venture with SureFQ and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246288
News Provided by Newsfile via QuoteMedia
Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") further to the announcement of March 13, 2024, confirms that it has completed debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, the Company has settled an aggregate amount of $98,419 in debt, in consideration for which it will issue an aggregate of 393,675 common shares (the "Shares") of the Company at a deemed price of $0.25 per Share.
All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: Z4A) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214955
News Provided by Newsfile via QuoteMedia
Lithium ION Energy Ltd (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces today that it intends to extend the expiry date of an aggregate 11,500,000 outstanding common share purchase warrants of the Company (the "April Warrants") by 12 months to April 12, 2025 and an aggregate 4,000,000 outstanding common share purchase warrants of the Company (the "July Warrants" and collectively with the April Warrants, the "Warrants") by 12 months to July 20, 2025 (collectively with the extension of April Warrants, the "Extension").
The April Warrants were issued pursuant to a public offering which closed on April 13, 2021 and are set to expire on April 12, 2024. The April Warrants were issued pursuant to a warrant indenture dated April 13, 2021 between the Company and TSX Trust and each April Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.70. The July Warrants were issued pursuant to a non-brokered private placement which closed on July 20, 2023 and are set to expire on July 20, 2024. Each July Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.40.
The Company believes that the extension of the Warrants is reasonable and necessary in the context of the overall market, as it increases the likelihood that any additional cash needs of the Company could be financed through the exercise of the Warrants.
The Extension remains subject to receipt of approval of the TSX Venture Exchange.
About Lithium ion energy ltd.
Lithium ion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 63,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANYCONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203328
News Provided by Newsfile via QuoteMedia
Lithium ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces that it has negotiated debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company has settled an aggregate amount of $143,669 in debt, in consideration for which it will issue an aggregate of 606,675 common shares (the "Shares") of the Company at a deemed price of $0.24 per Share.
All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.
The Company also announces that it has granted to certain consultants and insiders of the Company an aggregate of 1,250,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.09 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.
About Lithium ion energy ltd.
Lithium ion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201646
News Provided by Newsfile via QuoteMedia
Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is pleased to announce exciting leadership changes, as the Company continues on its rapid growth trajectory.
Robert Payment will be joining the Ion Energy team as Chief Financial Officer, as a seasoned CPA with 16 years of comprehensive experience spanning finance, reporting, regulatory compliance, public company administration, equity markets, and the financing of publicly traded companies. His career commenced in public practice focusing on the audit of public resource issuers, and since 2014 he has served as a CFO and consultant to a portfolio of companies listed on both the TSX Venture Exchange and the Canadian Securities Exchange (CSE).
Robert succeeds John McVicar, who is retiring after 3 years with the Company. John served Ion Energy through its foundational phase as a junior mining company. With his 30 years of international business experience in management consulting and finance at a Big 4 firm, John was instrumental in shepherding the Company through multiple rounds of pivotal financings, annual financial reporting cycles and several strategic acquisitions. Ion Energy's management is grateful for Mr. McVicar's leadership over the last 3 years and wishes him well in retirement.
Governance Addition
As part of its ongoing commitment to governance best practices, and diversity of perspectives and professional experience, Ion Energy is delighted to welcome an addition to its Board. Joseph Gallucci will be joining the team, in the capacity of Director. Mr. Gallucci is a senior capital markets executive and corporate director with over 20 years of experience in investment banking and equity research. His career has focused on mining, base metals, precious metals, critical metals and bulk commodities on a global scale, and has spanned across various firms including BMO Capital Markets, GMP Securities and Dundee Securities. Joseph is currently the Managing Director and Head of Investment Banking at Laurentian Bank Securities Inc. where he oversees the investment banking practice in entirety. Mr Gallucci holds the ICD.D designation.
Ali Haji, CEO & Director of Ion Energy has remarked, "Our Company continues to attract support from highly-credible and talented leaders from the mining and capital markets sectors. To have had this calibre of talent through the early years, and to now welcome new perspectives is the natural progression of a successful and growing mining entity like Ion Energy. Our team is delighted to welcome Mr. Payment and Mr. Gallucci. Joseph's appointment to ION's Board reinforces our commitment for value creation for stakeholders. We eagerly anticipate his contributions in propelling our company towards a prosperous future."
Joseph Gallucci, the newly-appointed Ion Energy Director comments, "I am excited to join the board of directors of Ion Energy. The Urgakh Naran Lithium Brine project in Mongolia presents a remarkable opportunity to advance sustainable energy solutions in proximity to the world's largest lithium battery manufacturer, China. I am committed to leveraging my expertise to contribute to the company's growth and success to create sustainable value for all stakeholders."
TSXV Acceptance of Bliss Lake Application
Pursuant to the Company's August 16, 2023 press release, and the TSXV's acceptance for filing documentation relating to the Bliss Lake agreement, Ion Energy Ltd would like to clarify that the 571,428 shares issued includes the finders fees. The Company will also further issue up to 1,250,000 common shares of the Company (with a floor price per share of $0.20) one year from Closing if an assay result of a sample from the Property during the 12 months after the Closing Date yields a grade of at least 0.5% Li2O, and further issue up to 1,250,000 common shares of the Company (with a floor price per share of $0.20) two years from Closing if an assay result of a sample from the Property during the 24 months after the Closing Date yields a grade of at least 0.5% Li2O. In the event that the Company announces a mineral resource estimate of at least 5 million tonnes of measured, indicated and inferred resources containing Lithium Oxide (Li2O) grading of at least 1.00% on the mining claims on the Property, the Company will pay an additional $300,000 cash payment within five days of the announcement to certain Vendors.
For additional information about Bliss Lake, see ION's press releases dated May 11, 2023 and June 28, 2023.
Ion Energy Name Change
Ion Energy has made an application to the TSX Venture Exchange ("TSXV") to change the Company's name to "Lithium ion energy ltd." (the "Name Change"). Pursuant to the Name Change, the Company's securities will continue to trade on the TSXV under the ticker 'ION'. The new CUSIP assigned to the Company's common shares following the Name Change will be 53680X103 (ISIN: CA53680X1033).
The Name Change was authorized by Ion Energy's shareholders at the Company's Annual General and Special meeting held on July 5, 2023. Common shares owned by shareholders of the Company will be automatically adjusted as a result of the Name Change and no further action is required to be taken by shareholders. The TSXV will publish a bulletin announcing the effective date of the Name Change.
The Name Change remains subject to final approval by the TSXV. It is anticipated that the common shares will commence trading under the Company's new name of Lithium ion energy ltd., on or about September 1, 2023.
About ion energy ltd.
ion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION will have significantly enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and statements, and the prospectivity of its exploration property portfolio for lithium mineralization. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, and delays in the development of projects. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179097
News Provided by Newsfile via QuoteMedia
Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to report dual advancements in its 2025 program: the completion of a detailed mineralogical and geological study prepared by Dr. Al Miller, that sets the stage for comprehensive metallurgical testing, and significant on-site exploration progress at the 100% owned Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project near Cartwright, Labrador. Together, these developments underscore Radar's potential as a strategic critical metals project in North America.
Radar Ti-V-Fe Project in Labrador, Canada:
The Radar Property benefits from exceptional infrastructure, including all-season road access, a nearby deep-water port, hydroelectric power, and an airstrip with claims just 10 km from Cartwright, Labrador. Spanning 24,175 hectares, the Property covers all the Dykes River intrusive complex—an extensive (~160 km²) Mesoproterozoic layered mafic intrusion. Unique amongst Western exploration companies, SAGA controls its entire intrusive complex.
Grenville-age mafic layered intrusions of Québec and Labrador represent a significant but underdeveloped titanium–vanadium–iron resource province. These layered intrusions, emplaced during the Grenvillian orogeny, locally host thick oxide-rich cumulate zones dominated by titanomagnetite and hemo-ilmenite with accessory vanadium and phosphorus. Their scale and metallogenic affinity are directly comparable to major Fe–Ti–V deposits such as Lac Tio (Quebec), Panzhihua (China), Tellnes (Norway) and Bushveld (South Africa), which supply a major share of global TiO₂ feedstock and vanadium for steel alloys and emerging energy storage markets. The combination of large tonnage potential, favourable logistics, and critical mineral content positions the Grenville intrusions, such as Radar's Dykes River complex, as strategic candidates for development in the context of growing North American demand for titanium, vanadium and high-quality iron.
Early geological mapping, government magnetic surveys and ground-based geophysics of the Radar property have identified oxide layering across more than 20 km of strike length, with mineralized zones remaining open for expansion. Vanadiferous titanomagnetite ("VTM") is the principal oxide and occurs as cumulate and intercumulus mineralization over large thicknesses of the Dykes River layered intrusion.
Figure 1: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill program in the Hawkeye zone. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics as shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
Petrography, petrology and mineral chemistry of oxide-bearing rocks within the Hawkeye Zone
SAGA retained Dr. Allan Miller, Ph.D., to study a suite of selected intrusive rocks from several areas of the Radar property. Dr. Miller has extensive experience as a petrographer in the Superior and Grenville provinces, including 25 years with the Geological Survey of Canada as a Mineral Deposits Research Scientist responsible for regional-scale metallogeny, deposit-scale alteration studies and regional and detailed mapping in northern Canada.
Dr. A. Miller's report investigated grab samples taken in 2024, from the area of Saga Metals completed maiden drill campaign earlier in 2025. The drill program included seven (7) diamond drill holes totaling approximately 2,200 metres drilled at the Hawkeye Zone. Drilling confirmed the presence of thick titanomagnetite-rich oxide layers containing titanium dioxide (TiO₂), vanadium pentoxide (V₂O₅), and iron (Fe), while preserving magmatic textures that are advantageous for downstream metallurgical recovery. Key drilling results include:
Figure 2: 500m strike by 350m width magnetic anomaly drilled in winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey).
Despite the clear identification of multiple intrusive and mineralizing events in the Dykes River complex, SAGA is focusing on a discrete intrusive horizon termed the Lower Cumulate Layer that was tested in the 2025 Winter drilling program.
Within the 600 m tested thickness of the layered gabbronorite, the chemistry delineates a very promising 300-400 m thickness, referred to as the Lower Cumulate Layer. The highest V2O5 assays are in the lower 100-200 m, coinciding with the highest-grade intervals of VTMs. The layer is comprised of interlayered gabbronorite and bands of semi-massive to massive VTM.
Drill holes R25-HEZ-01, -07, -04, and -05 intersect this Lower Cumulate Layer. Dr. A. Miller's report highlights the petrography and the mineral composition of silicates and oxides from these targeted oxide layers explored during the 2024 surface exploration program and subsequently drilled in 2025. Those findings describe the Lower Cumulate Layer and a separate, undrilled magmatic layer, documenting at least two Ti-V-Fe magmatic pulses -- a significant finding that implies a protracted mineralizing episode.
Hawkeye Zone - Significant Drill Instructions
| Drill Hole | Interval Length (m) | Avg. VTM (%) | Max VTM (%) |
| R25-HEZ-01 | 263.5 | 25.90% | 35.16% |
| R25-HEZ-07 | 311.7 | 22.95% | 41.63% |
| R25-HEZ-04 | 208.5 | 29.59% | 35.20% |
| R25-HEZ-05 | 187.3 | 26.76% | 26.76% |
Maximum VTM is based on about a minimum 10 m interval
All intervals are within the Lower Cumulate Layer
Table 1: Lower Cumulate Layer highlighting the length of VTM intersections.
The significant length-weighted averages at Hawkeye are in the range of 20 to 35% VTM. In other mafic layered intrusions, that tenor of mineralization lies within an economic range.
Dr. Al Miller's report provides important metallurgical insights into the mineralization of the targeted oxide layers and will be used by metallurgists at IGS Laboratories ("IGS") as a precursor to metallurgical testing on the Hawkeye drill core. Petrographic and mineral analyses confirmed that the dominant oxide minerals host titanium and vanadium and the phases were found to preserve primary magmatic textures, a favorable attribute for metallurgical processing. The Company has coordinated the shipment of the previously assayed core samples to IGS for immediate metallurgical analysis complete with Davis Tube and Satmagan analytical methods.
Notably, vanadium was observed in solid solution within magnetite-titanomagnetite, presenting an opportunity for recovery of vanadium alongside titanium as a valuable by-product. The rare-earth element analysis demonstrated consistent mantle-derived magmatic evolution across the Hawkeye prospects, confirming the large-scale continuity of mineralization.
The report provides a detailed analysis of the petrography, ore microscopy, mineral chemistry, and petrogenetic framework of the Radar property's oxide-bearing rocks. Petrographic and ore microscopy studies documented transitions from massive and semi-massive oxide layers into gabbronorite hosting intercumulus and interstitial oxides, highlighting the close interplay between silicate and oxide phases. Thin-section work revealed a spectrum of textures—from cumulate to intercumulus to interstitial—demonstrating that oxides crystallized both as primary cumulates and later interstitial phases. These textural relationships are critical, as they capture the progressive evolution of the intrusion and the multiple stages of oxide accumulation. Mineral chemistry data from electron microprobe analysis confirmed that titanium and vanadium contents varied between textural types, suggesting repeated injections of compositionally distinct silicate-immiscible oxide melts.
Exploration has also revealed new targets of considerable scale. Ground magnetic and VLF-EM surveys at the Trapper Zone identified a continuous three-kilometre magnetic anomaly with maxima reaching 115,498 nT, among the strongest signatures observed on the property. Excavator trenching at Trapper further exposed semi-massive to massive vanadiferous titanomagnetite cumulate over 504 square metres, providing physical confirmation of the subsurface oxide layering. Meanwhile, magnetic surveys in the Northwest Zone uncovered anomalies up to 55,000 nT in areas largely untested by drilling. Historic drill hole 97-1 in this area intersected multiple intervals exceeding 40% Fe₂O₃ and ~7% TiO₂, including a 10-metre interval with 75% magnetite, demonstrating the broader potential of the intrusive complex. To support these efforts, Saga has advanced logistical access by upgrading forestry roads and constructing a four-kilometre access trail linking the Hawkeye, Trapper, and Northwest Zones.
Figure 3: Radar Project's Trapper Zone depicting a 3+ km magnetic anomaly and oxide layering trend. The Trapper Trail (in black) will support a new diamond drilling program.
Next Steps at the Radar Property
The combination of geological, drilling, and commencement of metallurgical studies positions SAGA to rapidly advance toward resource definition at the Radar Project. The company intends to pursue a 10,000–15,000 metre follow-up drill program focused on the 3.3 km Trapper Zone oxide layering strike, alongside expanded metallurgical testing to optimize titanium and vanadium recoveries. With robust infrastructure, thick oxide layering, and globally significant analogues such as China's Panzhihua and Norway's Tellnes deposits 1 & 2 , Saga believes Radar has the potential to emerge as one of North America's most significant titanium-vanadium deposits.
"The findings from this report have confirmed the oxide mineralogy and traced the distribution of titanium and vanadium within these minerals. These oxide horizons exhibit remarkable lateral continuity and share a consistent geochemical signature at a broad scale. These analyses provide exceptional insight into the composition of the oxide layering we are targeting providing key details to establish a targeted and efficient drill program in the Trapper Zone," stated Michael Garagan, CGO & Director of Saga Metals.
__________________
Qualified Person
Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.
The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).
Additionally, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.
With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact:
Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipates", "expects", "believes", and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company's Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company's assets, and the risks detailed in the Company's continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/380bb44c-6e28-4884-a878-4639915cef30
https://www.globenewswire.com/NewsRoom/AttachmentNg/0afab8e8-7156-4189-8569-b3e8386371e7
https://www.globenewswire.com/NewsRoom/AttachmentNg/acbde2c1-b913-4b07-a6cb-750837da7a36
News Provided by GlobeNewswire via QuoteMedia
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
News Provided by ABN Newswire via QuoteMedia
A.I.S. Resources Limited (TSXV: AIS,OTC:AISSF, OTC-Pink: AISSF) ("AIS" or the "Company") is pleased to announce that it has entered into an earn-in agreement with Riversgold Ltd. (ASX: RGL) ("Riversgold"), granting AIS the right to acquire up to a 75% interest in the new Saint John IOCGPorphyry Project located in New Brunswick, Canada.
AIS CEO Marc Enright-Morin commented, "We are excited to partner with Riversgold on this very exciting newly discovered Saint John Project. The combination of very high-grade mineralisation, excellent infrastructure, and district-scale potential provides AIS with a unique opportunity to advance a possible IOCG/porphyry system in one of Canada's most mining-friendly jurisdictions. Saint John is exploration and drill ready with two drill programs already approved. Its unique location near the coast means we can explore here in a meaningful way all year round and we look forward to getting the drills turning and come up with the discovery hole."
Riversgold Executive Chairman David Lenigas added, "This transaction with AIS enables Riversgold to retain a meaningful exposure to the upside of the Saint John Project, while AIS commits to an aggressive exploration program. AIS, as a Canadian company, is much better placed to move this incredible gold/silver/copper/antimony discovery forward whilst Riversgold shifts it focus towards developing its large porphyry gold project near Kalgoorlie in Western Australia. We look forward to assisting AIS immediately getting on to the ground and advancing drilling and development across this highly prospective district."
About the Saint John Project:
The Saint John Project is a district-scale IOCG/porphyry exploration target providing strategic exposure to gold and silver (precious metals), copper (energy transition metal), and antimony (critical mineral).
The project covers 101 km² in a Tier-1 mining jurisdiction. Located just 20 km west of Saint John, New Brunswick and 50 km from the U.S. border, the project benefits from exceptional infrastructure, including highways, rail, deep-water port, power stations, and a skilled local workforce.
Riversgold have released multiple press releases on the Australian Stock Exchange over the past year as they have moved this project up the value chain. Geological results were previously disclosed by Riversgold in press releases on ASX dated January 29, 2025 and April 9, 2025. Refer to www.riversgold.com.au
Geological Highlights:
Little Lepreau Prospect
Prince of Wales Prospect
Hideaway Prospect
Next Steps:
Transaction Terms:
The agreement is subject to TSXV acceptance.
Figure 1 - Saint John Project (Source of Map: Riversgold press release on ASX dated April 9, 2025)
Figure 2 – Prince of Wales roadside cutting with exposed mineralization (Source of Map: Riversgold press release on ASX dated January 29, 2025)
Figure 3 – Little Lepreau Roadside Quarry Prospect (Inset 1) - Sample Grades (Source of Map: Riversgold press release on ASX dated April 9, 2025)
Figure 4 - Hideaway Prospect (Inset 2) - Sample Grades (Source of Map: Riversgold press release on ASX April 9, 2025)
Figure 5 - Price of Wales Prospect (Inset 3) - Sample Grades (Source of Map: Riversgold press release on ASX dated April 9, 2025)
Technical information in this news release has been reviewed and approved by Mr. Edward Mead, who is a Qualified Person under the definitions established by the National Instrument 43-101 and who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Riversgold Ltd and a consultant to Riversgold through Doraleda Pty.
Bi-Weekly default status report
The Company is providing a bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). On July 30, 2025, the Company announced that it has been granted a voluntary management cease trade order in accordance with NP 12-203 due to it not being able to file its annual financial statements and management's discussion and analysis ("MD&A") for the year ended March 31, 2025, and the related CEO and CFO certifications (collectively, the "Annual Filings") on SEDAR within 120 days of its financial year-end. The management cease trade order has been granted by the Company's principal regulator, the British Columbia Securities Commission.
The Company was not able to complete the year-end audit within the time periods required by National Instrument 51-102 due to insufficient funds. As a result, the Company requires additional time to file the Annual Filings.
The Company's audit is substantially completed. Proceeds from the private placement announced August 28, 2025 will be partially used to complete the audit. The Company expects to file its Annual Filings as soon as they are available, but in any event no later than September 29, 2025, and will issue a news release once they have been filed.
Pursuant to NP 12-203, the Company must file bi-weekly default status reports in the form of further news releases during the period of the MCTO. The Company reports that it is working diligently with its auditors to complete the audit in a timely manner and since its news release of July 30, 2025, there have been no material changes regarding the information contained in that news release other than as disclosed in the Company's news releases. The Company confirms there have been no failures by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203, and there has not been, nor is there anticipated to be, any specified default subsequent to the default announced in the Company's news release of July 30, 2025. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.
About A.I.S. Resources Limited
A.I.S. Resources Limited 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. AIS is guided by a seasoned team of engineers, geologists and finance professionals with a proven record of success in capital markets.
On Behalf of the Board of Directors,
A.I.S. Resources Limited
Marc Enright-Morin, CEO
Corporate Contact
For further information, please contact:
Marc Enright-Morin, CEO
T: +1-778-892-5455
E: marc@aisresources.com
Website: www.aisresources.com
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 .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3d7d02b6-b9b8-4db5-849b-529ffbea5527
https://www.globenewswire.com/NewsRoom/AttachmentNg/5ee17d94-f878-401d-9a10-1fcec26c35a9
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac4749e0-6bd3-4848-a29a-e1cda658ec27
https://www.globenewswire.com/NewsRoom/AttachmentNg/15c683dc-7840-4eb0-85ac-0a829d5af236
https://www.globenewswire.com/NewsRoom/AttachmentNg/24e82c74-0d93-494f-89a3-2919ad9c5217
News Provided by GlobeNewswire via QuoteMedia