VANCOUVER, British Columbia, July 04, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announced today that the Company has commenced its manganese shipping operations in Peru with a trial shipment of 150 tonnes manganese ore being readied to be trucked to Lima Port Callao the week of July 8, 2019.
The Highlights of the Manganese Ore Sales Activities include:
- A contract has been signed with the miner to buy 2,000 tonnes of manganese ore with samples from the mined ore averaging 45% MnO – as independently tested by internationally respected laboratory Centamin.
- Terms of the purchase of the ore are 50% when trucking commences, and 50% when the assay is completed on each one tonne super bag received in our storage area. The Company has paid a 50% deposit for 1000 tonnes manganese ore.
- Logistics and shipping contracts have been signed for an initial 6 containers per week (150 tonnes) for three weeks, then continuing with 40 containers per week (1,000 tonnes).
- AIS is negotiating sales agreements with several purchasers for its high-grade fines manganese product.
- AIS has a signed Offtake Letter of Intent with a division of China Minmetals for up to 40,000 tonnes of manganese ore per month.
AIS Resources President and CEO, Phillip Thomas stated, “I am delighted we have commenced shipping manganese ore and have signed all our logistics agreements. The trucking company is expected to start moving ore in the one tonne tuff bags the week of July 8, 2019. This will provide positive cashflow for AIS Resources operations. We will then focus on expanding our production to up to 10,000 tonnes per month.”
About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, 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.