SPEY RESOURCES CORP - SPEYF STOCK NEWS

Spey Resources Corp (CSE: SPEY) announces a successful extraction of 99.5% battery-grade lithium carbonate using the Ekosolve™ process at its Incahuasi Salar project. The University of Melbourne reported a 96.03% lithium recovery rate during testing. Spey holds the first Ekosolve production license and plans to construct a mini plant in Salta. Assays are being conducted to verify results with strict quality control measures in place. CEO Phil Thomas expressed satisfaction with the results and indicated ongoing discussions for a potential joint venture with Ekosolve Ltd.

Spey Resources Corp (CSE: SPEY) (OTC: SPEYF) has successfully produced lithium carbonate from its brines at the Candela II Project using the Ekosolve™ process, achieving a 96.03% recovery rate and 99.5% purity. The University of Melbourne collaborated on this project, validating the Ekosolve process with a rapid extraction method. Spey holds the first production license for Ekosolve, positioning it to lead construction of the processing plant. Discussions for a potential joint venture with Ekosolve Ltd. are ongoing. This development enhances Spey's lithium production capabilities.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) has commenced initial exploration on its four lithium projects in Quebec's James Bay region. These projects, including the 454 Project and the West Lac Corvette Project, will undergo multi-spectral analysis using satellite imagery to identify potential spodumene pegmatites. CEO Phil Thomas highlighted the strategic importance of this exploration near recent lithium discoveries. Spey holds significant lithium interests in Argentina and plans to continue its development efforts in both regions.

Spey Resources Corp. (CSE: SPEY) has successfully acquired 100% of Lithium Energy Metal Corporation (LEM), issuing 8.9 million shares to LEM's shareholders. This acquisition includes four exploration projects in Quebec's James Bay Region, strategically located near Patriot Battery Metals. The projects consist of the 454 Block, West Lac Corvette, Trieste, and Salomon Project, covering a total of approximately 8,000 hectares. This move enhances Spey's portfolio in the lithium sector, aligning with its focus on mineral exploration in Canada and Argentina.

Spey Resources Corp. is pleased to announce the appointment of Phillip Thomas as Chief Executive Officer, effective October 3, 2022. Mr. Thomas, a seasoned lithium brine geologist, brings over 30 years of experience in capital markets and mining investment. He has previously led successful lithium projects, including a notable sale of a lithium carbonate plant for $825 million. Additionally, Mr. Nader Vatanchi has transitioned to the role of Vice President of Corporate Finance. The company aims to leverage Thomas's expertise to expedite production at its Candella II and Pocitos projects in Argentina.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) has successfully closed a non-brokered private placement, issuing 22,141,496 units at a price of $0.175 per unit for total proceeds of approximately $3.87 million. Each unit includes one common share and a half warrant, exercisable at $0.35 until September 2024. The funds raised will support drilling projects, property payments, and general working capital. The offering includes a four-month hold period for issued securities and none will be registered under the U.S. Securities Act.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) announced plans for a non-brokered private placement to raise up to C$2,750,000 by issuing units at $0.175 each. Each unit includes one share and one-half warrant, with warrants priced at C$0.35 for 24 months. The funds will support exploration drilling, project payments, and working capital. The offering is expected to close around September 12, 2022. Additionally, the company plans to issue 2,500,000 shares to settle debts. This release does not constitute an offer for U.S. investors.

Spey Resources Corp. (CSE: SPEY, OTC: SPEYF) announced significant developments regarding its Incahuasi and Pocitos Salar properties. The company acquired an 80% interest in the Candela II project for USD$1 million and plans a five-hole production drill program. An initial drilling report revealed 161ppm lithium and an aquifer at 200m depth. Community permission has been granted for drilling at Pocitos II, with exploratory efforts underway. CEO Nader Vatanchi expressed optimism about maximizing shareholder value despite challenges.

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) is under continuous disclosure review by the British Columbia Securities Commission (BCSC), affecting recent acquisitions and disclosures. A cease trade order is now in effect, suspending trading of the company's securities on the Canadian Securities Exchange. This action stems from concerns regarding the Economic Disclosure related to the Incahuasi Project and outstanding continuous disclosure filings. The company is cooperating with the BCSC to resolve the issue and has removed potentially misleading information from its corporate presentation.