A.I.S. Resources Limited has received TSX Venture Exchange acceptance for its option agreement to acquire up to a 100% interest in the Frenchmans Creek and Grand Bay properties in southern New Brunswick.

Under the agreed terms, A.I.S. can secure the full interest by making cumulative payments totaling $90,000 in cash and $200,000 in common shares over a four-year period, alongside maintaining the mining claims in good standing and incurring $187,450 in work credits. The Frenchmans Creek property covers approximately 2,200 hectares across 88 mining claims located about 10 kilometres from Saint John, while the Grand Bay property comprises approximately 4,100 hectares across 62 claims situated 10 kilometres northwest of Saint John. Both properties benefit from local infrastructure, including highways, rail, deep-water port access, a power station, and a skilled workforce.

Upon full acquisition of the Frenchmans Creek project, the optionor will retain a 2% net smelter return royalty. A.I.S. holds a right of first refusal to purchase half of this retained royalty for $1,000,000 in cash or an agreed amount of cash and shares, subject to exchange acceptance. The company can pay cash instead of issuing common shares, with share valuations based on the 20-day volume-weighted average price at a minimum floor of $0.135.

The properties remain at an early exploration stage, with regional geological settings and vendor-supplied compilation materials identifying potential for iron-oxide copper-gold, volcanic-hosted base-metal, and structurally controlled gold and silver mineralization.

The transaction advances A.I.S. as it expands its footprint in southwestern New Brunswick, where the company holds a land position totaling 25,683 hectares. The regional exploration landscape also features nearby activity, including Galway Metals reporting a drill intercept of 2.0 g/t gold over 68 metres at its Clarence Stream project.

A.I.S. Resources is required to make its first anniversary option payment of $10,000 in cash and $30,000 in common shares for the properties on or before June 1, 2027.

Read the full announcement: A.I.S. Resources Provides Update on Frenchmans Creek and Grand Bay Option Agreement