Spey Resources Corp. Incahuasi and Pocitos Update.
SPEY RESOURCES CORP. INCAHUASI AND POCITOS UPDATE.
Vancouver, British Columbia — August 2 3, 2022 — Spey Resources Corp. (CSE: SPEY)
(OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company"), is pleased to announce the achievement
of certain development milestones and planned future activities regarding the Incahuasi Salar
property and Pocitos Salar property, respectively.
Incahuasi Salar
• On March 23, 2022, the Company acquired an 80% interest in the Candela II p roject by
paying USD$1,000,000 and continues to have the right to option the other 20%;
• On August 10, 2022, the Company completed and lodged an initial NI 43 -101 compliant
drilling report with 161ppm lithium sample recorded, and identified an aquifer at 2 00m
depth in drill hole INCA-21-05R;
• Based on five exploratory (5) drill holes from the Company’s initial drilling report, it was
determined that a production drill hole program be completed;
• The Company is actively searching for a drilling contract to e xecute the Company’s five
(5) hole production drill program at Candela II that will include one or more production
wells where a submersible pump can be used to do a brine flow test;
• The Company anticipates that an amended work plan for the drilling program at Incahuasi
will be lodged shortly; and
• The Company expects a mineral resource estimate to be computed after the five (5)
production drill hole program is completed.
Pocitos Salar
• The Company has lodged an addendum for the purposes of maintaining the road onto the
Salar in order to facilitate drilling;
• Community permission has been granted to drill a well on Pocitos 2 to a depth of 400m;
and
• The Company is actively searching fo r a drilling contract to drill an exploratory well at
Pocitos II, bordering Pocitos I project.
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Nader Vatanchi, CEO of Spey, commented: “We have made progress with our flagship project in
the Incahuasi Salar and Pocitos over the last year despite the challenges we faced. We thank our
loyal shareholders for their support and patience during the difficult times. Over the coming
months, we will continue working to advance our lithium projects with the goal of maximizing
shareholder value.”
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 ("NI
43-101").
Technical Report
Scientific and technical information relating to the Incahuasi Salar property is supported by the
technical report titled " Technical Report for the Incahuasi Salar Lithium Concession, Salta
Province, Argentina", dated June 10, 2022 (the “Technical Report"), and prepared by Michael J.
Rosko for Spey. Reference should be made to the full text of the Technical Report, which was
prepared in accordance with NI 43 -101 and is available electronically on SEDAR
(www.sedar.com) under the Company's issuer profile, for a description of the Company’s data
verification and QA/QC procedures.
About Spey Resources Corp.
Spey Resources is a Canadian 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 holds an option to acquire a 100% undivided interest in the
Silver Basin Project located in the Rev elstoke 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 CEO, 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, but not limited to, with respect to the Company acquiring the remaining 20% interest in
Candella II project, completing a production drill hole program at the Candella II project, lodging
a work plan for the drilling program at Incahuasi, computing mineral resource estimates, and
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generally advancing the Company’s projects. 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.