Spey Resources Announces Commencement of Exploration FOR Lithium IN James BAY Region of Quebec
SPEY RESOURCES ANNOUNCES COMMENCEMENT OF EXPLORATION FOR LITHIUM IN
JAMES BAY REGION OF QUEBEC
Vancouver, British Columbia —October 24, 2022 — Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF)
(FRA: 2JS) (" Spey” or the "Company") is pleased to announce commencement of the initial
exploration on the Company’s four lithium projects located in the James Bay region of Quebec
(the “James Bay Property”). The four projects comprising the James Bay Property are the 454
Project, the West Lac Corvette Project, the Trieste Project and the Salomon Project, which are
located between Patriot Battery Metals’ Corvette Lithium Project to the northwest, and Winsome
Resources’ Adina lithium pegmatite to the southeast.
Patriot Battery Metals’ Corvette Lithium Project1 has reported lithium occurrences in spodumene
(hard rock lithium mineral) pegmatite. Spey notes that the reported pegmatite occurrences on
nearby properties does not mean that similar occurrences will be found on the James Bay
Property.
The first step of Spey’ lithium exploration program is a multi-spectral analysis of satellite imagery
from the European Space Agency’s Sentinel-2 high-resolution, multi-spectral imaging mission.
Spey’s consultants are applying principal component analysis (PSA) to as many as 10 spectral
bands, and comparing the results from the James Bay Property to spodumene pegmatites
identified from nearby properties, after making required atmospheric corrections. Any targets
identified as spodumene pegmatites will be mapped, channel sampled at surface, and drilled as
warranted.
Phil Thomas, CEO of the Company, states, “We are excited to commence exploration on these
projects in the James Bay Region of Quebec, Canada. Adding exposure in Canada near a recent
lithium discovery gives Spey diversification as we continue to drill and progress our flagship assets
in Argentina.”
1 Alex Knox, M.Sc., P.Geol., 2022, NI 43-101 TECHNICAL REPORT ON THE CORVETTE PROPERTY QUEBEC, CANADA
- 2 -
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Phillip
Thomas, BSc. Geol, MBM, FAusIMM, MAIG, MAIMVA(CMV), who is a "qualified person" for the purposes
of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and is CEO of the Company.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which has an 80% interest in the
Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina. Spey also
holds an option to acquire a 100% undivided interest in Pocitos II and 20% interest in the Pocitos
I lithium projects. Spey also holds interests in four lithium exploration projects located in the James
Bay Region of Quebec. Spey has a 100% 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 Corporate Finance
778-881-4631
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable
securities laws relating to statements regarding the Company's initial exploration, pegmatite
occurrences, and mapping, sampling and drilling any identified spodumene pegmatites. Although
the Company believes that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be correct. Readers are
cautioned not to place undue reliance on forward-looking information. Such forward-looking
statements are subject to risks and uncertainties that may cause actual results, performance and
developments to differ materially from those contemplated by these statements. Except as
required by law, the Company expressly disclaims any obligation and does not intend to update any
forward-looking statements or forward- looking information in this news release. Although the
Company believes that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be correct and makes
no reference to profitability based on sales reported.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
press release.