Mr. Andrew Neale reports

EKEKO S.A. UNILATERALLY PURPORTS TO TERMINATE OPTION AGREEMENT WITH AIS

Ekeko S.A. has unilaterally declared the exploration and purchase option agreement between A.I.S. Resources Ltd. and Ekeko, dated June 10, 2021, to be terminated for alleged breach of contract by A.I.S. A.I.S. rejects the allegation of breach and rejects Ekeko's purported termination of the agreement.

A.I.S. validly exercised the option on Pocitos 1 prior to the contractual deadline of June 30. Furthermore, Ekeko breached the agreement by (i) refusing in bad faith to honour the option exercise, and (ii) failing to obtain the mandatory legal certificates to prepare and execute the transfer deed for the Pocitos 1 property, as required under the agreement.

The Pocitos 1 property was further optioned by A.I.S. to Spey Resources Corp. (CSE: SPEY). As a result of this breach by Ekeko, A.I.S. was unable to perform its obligations under its option agreement with Spey. Monies placed in trust by Spey with A.I.S. to complete the option exercise have been returned to Spey.

Andrew Neale, president and chief executive officer of A.I.S., commented: "We are at a loss to understand the actions of Ekeko. We proceeded on a good faith basis to live up to our side of the agreement and believe that A.I.S. is in full compliance with the June, 2021, exploration and option purchase agreement."

As a result of the financial harm this has caused A.I.S., A.I.S. intends to aggressively pursue its legal remedies in Argentina and takes the position that Ekeko is unable to transfer good title to the property free from the A.I.S. claim.

About A.I.S. Resources Ltd.

A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. A.I.S.'s value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The company is managed by a team of experienced engineers, geologists and investment bankers, with a record of successful capital market achievements.

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