A.I.S. Resources Limited announced that the Company has reached an agreement with American Salars Lithium Inc., on an option agreement on the Candela II Lithium Brine Project located in the Incahuasi Salar, Salta Province, Argentina. The Candela II Lithium Brines Project contains a NI 43-101 inferred mineral resource estimate of 86,000 tonnes of lithium metal, equating to 457,000 tonnes of in-situ lithium carbonate equivalent. Current lithium carbonate spot prices are in excess of CAD 22,000/tonne.

American Salars may exercise the Option, over a 5-year period, to earn a 100% ownership interest in Spey Resources Argentina S.A., by making cash payments totaling CAD 2,447,500 and issuing 6,600,000 shares at a deemed price of $0.30 per share. AIS holds a 20% equity interest in Spey Resources ArgentinaS.A. and will receive its share of the proceeds on a pro rata basis.