Spey Resources Corp. Completes Acquisition of Lithium Energy Metal Corporation
SPEY RESOURCES CORP. COMPLETES ACQUISITION OF LITHIUM ENERGY METAL
CORPORATION
Vancouver, British Columbia — October 7, 2022 — Spey Resources Corp. (CSE: SPEY)
(OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce, further to its news
release dated September 28, 2022, that it has completed the acquisition (the “Acquisition”) of
100% of the issued and outstanding share capital of Lithium Energy Metal Corporation (“LEM”)
from all of the former shareholders of LEM (the “LEM Shareholders”).
In consideration for the Acquisition, the Company issued an aggregate 8,900,000 common shares
in the capital of the Company (each, a “Spey Share”) to the LEM Shareholders (collectively). The
Company has also issued 890,000 Spey Shares as a finder’s fee to an arm’s length finder in
connection with the Acquisition.
LEM holds interests in four projects in the James Bay Region of Quebec near projects held by
Patriot Battery Metals Inc. (TSX-V: PMET). The projects vary in distance from PMET’s projects,
one of them being within approximately one kilometer of the border of a PMET project.
The 454 Block Project - consists of 10 contiguous claims (513 hectares). The claims occur
within the Archean Langelier Complex, which are the oldest rocks in the Le Grand sub-
province of the regional Superior Province, and comprise foliated tonalite with hornlende-
biotite magnetite.
The West Lac Corvette Project - consists of 10 contiguous claims (513 hectares). The
claims cover Mesoarchean rocks of the Rouget Formation, derived from basalts as well
as Neoarchean Marbot Formation wackes (with injections of granite), and southern margin
of the Mesoarchean tonalite pluton (post de Le Moyne).
The Trieste Project - consists of two separate contiguous blocks totaling 50 claims and
covering 2,575 hectares (618 hectares north, and 1,957 hectares south), with mylonite
and amphibolite rocks of the Mesoarchean Trieste Formation that were derived from
basalts.
Salomon Project – 100 claims in two separate continuous blocks, covering 5,155
hectares. The project includes Mesoarchean mylonites and amphibolites, as well as
younger Neoarchean metamorphic wackes and arkoses.
Qualified Person
The technical and scientific information contained within this news release has been reviewed
and approved by Robert Lane, MSc., P.Geo., who is a "qualified person" for the purposes of
National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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About Spey Resources Corp.
Spey Resources is a Canadian lithium focused mineral exploration company which holds two
option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects
located in the Salta Province, Argentina. Spey also owns 100% of the mineral rights to 4 lithium
exploration projects located in the James Bay Region of Quebec, in proximity to a recent hard
rock lithium discovery. Spey also holds an option to acquire a 100% undivided interest in the
Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an
option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
Nader Vatanchi
VP of Corporate Finance, Director
778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties,
including with respect to the Company's business and plans, including with respect to undertaking
further acquisitions. The Company provides forward-looking statements for the purpose of
conveying information about current expectations and plans relating to the future and readers are
cautioned that such statements may not be appropriate for other purposes. By its nature, this
information is subject to inherent risks and uncertainties that may be general or specific and which
give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will
not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals
and priorities will not be achieved. These risks and uncertainties include but are not limited those
identified and reported in the Company’s public filings under the Company’s SEDAR profile at
www.sedar.com. Although the Company has attempted to identify important factors that could
cause actual actions, events, or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to
be accurate as actual results and future events could differ materially from those anticipated in
such statements. The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise
unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the
contents of this press release.