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A.I.S. Resources Limited (TSX-V AIS, OTCQB: AISSF) (the "Company" or "AIS") is pleased to announce that further to its news release of May 19, 2020, the Company has finalized its settlement with MGX Minerals Inc. ("MGX").
On November 1, 2019, the Company commenced an action against MGX in the Supreme Court of British Columbia claiming unpaid fees for exploration and related services. In May 2020, AIS entered into a settlement agreement whereby AIS was to receive shares in MGX in exchange for a release of MGX and termination of its lawsuit against MGX. AIS has received 3,705,733 MGX shares, has provided the release to MGX and has terminated its lawsuit against MGX in accordance with the settlement agreement.
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 precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals, with a track-record of successful capital markets achievements. In July-August 2020, AIS entered into agreements to acquire and develop the Toolleen-Fosterville Gold Project in Victoria, Australia and the Yalgogrin Gold Project in central New South Wales, Australia and is currently doing due diligence on the Kingston EL6318.
A.I.S. Resources Limited
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412
Email: pthomas@aisresources.com
Or
Martyn Element, Executive Chairman
Tel: +1-604-220-6266
Email: melement@aisresources.com
Website: www.aisresources.com
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.
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.
