SPEY RESOURCES CORP - SPEYF STOCK NEWS

Spey Resources Corp. completes NI 43-101 Mineral Resource Estimate on Candela II lithium brine project in Argentina, estimating 86,000 tonnes of lithium metal and 457,520 tonnes of in-situ Lithium Carbonate Equivalent (LCE). Building a 5,000 tonne Ekosolve™ plant at the current lithium carbonate price of $30,000 per tonne would provide the basis for a scoping study analysis. Recommended additional exploration activities to expand the resource. Spey Resources SA finalizing shareholder agreement with AIS Resources SA for development of the Candela II concession.

Spey Resources Corp. announces results from soil sampling and rock chip assay on its Kaslo property in BC, Canada.

Spey Resources Corp. provides an update on the progress of its exploration plan and resource estimate for its Incahuasi Salar property. A magnetotelleric survey is scheduled to begin on May 18, 2023, with results expected in 4-6 weeks. WSP Australia has been appointed to produce a NI 43-101 report. The survey data will contribute to the resource estimate and future drilling targets.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) provides an update on its Incahuasi Salar property, Candela II, following its January 2023 news release. The company plans to utilize data from previous diamond hole drilling (DDH) and new geophysics to support a potential resource estimate study. Highlights include securing a contractor for a magnetotelleric survey starting April 2023 and a request for proposal system for resource estimate study bids. In 2021, five DDH wells were drilled, with one well showing promising lithium grades of 173ppm. The wells' attributes have been deemed suitable for further assessment.

Spey Resources Corp. has entered into an option agreement with Recharge Resources Corp. for the Pocitos 2 lithium brine project in Argentina. Recharge may acquire a 100% interest by paying US$744,800 and issuing $500,000 worth of common shares by June 30, 2023. If the option is exercised, an additional payment of $500,000 is required within 18 months. The agreement includes a royalty of 7.5% on lithium carbonate sales from the project. All shares issued are subject to a four-month hold under Canadian securities laws. Spey Resources focuses on lithium exploration in Argentina and Quebec.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) is prioritizing its Incahuasi Salar property for resource estimation using data from 5 diamond drill holes drilled in 2021. The company postponed drilling at Pocitos 2 due to rig delays. Highlights include the suitability of existing wells for NI 43-101 resources, potential lithium grades exceeding 200 mg/L, and plans for further geophysical work. Spey will not acquire A.I.S. Resources Limited’s 20% interest but is considering a joint venture. The company aims to conduct extensive testing and sampling to inform its resource estimate in 2023.

Spey Resources Corp. (CSE: SPEY) has signed a letter of intent (LOI) with Richlink Capital to potentially supply up to 20,000 tonnes of lithium chloride annually to Richlink's clients. The agreement is linked to future production from its Incahuasi Salar and Pocitos 2 Salar lithium brine projects in Argentina. A minimum of 10,000 tonnes would be sold on a free on board basis from Antofagasta, Chile. The current lithium price is approximately USD 80,375.78 per tonne. The LOI is contingent upon due diligence and regulatory approvals.