Spey Resources Corp. Options Nova Scotia Property
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Spey Resources Corp. Options Nova Scotia Property
Vancouver, B.C. – October 28, 2024 – Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS)
(“Spey” or the “Company”) is pleased to announce that it has entered into an option agreement (the
“Agreement”) with an arm’s length optionor (the “ Optionor”), pursuant to which the Company was
granted an option to acquire a 100% interest in an exploration property located adjacent to and surrounding
the past-producing West Gore antimony-gold mine in central Nova Scotia, Canada (the “Property”).
The Property is comprised of 191 mineral claims covering 3,092 hectare s, approximately 45 kilometres
north-northwest of the provincial capital of Halifax . Production from the historical West Gore antimony-
gold mine dates from the early 1880s to 1917. The historical mine workings and subsequent evaluations
include multiple shafts, 8 underground levels, and at least 70 drill holes. Details of the adjacent historical
production and geology, although outside the acquired Property, are provided in an NI 43 -101 technical
report dated May 25, 2021, revised Ju ly 5, 2022 and prepared by Mark King and Michael Corey. The
Company believes the proximity to the historical West Gore antimony-gold mine supports exploration for
new targets in the Property area, although reference to nearby mines and projects is not necessarily
indicative of mineralization on the Property.
The Company looks forward to commencing the first comprehensive exploration program on the Property,
which will include prospecting, surface sampling, high resolution airborne geophysics, and, if warranted ,
exploring potential drill targets by the summer of 2025.
The Terms of the Agreement
Pursuant to the Agreement, the Company may acquire a 100% interest in the Property by making aggregate
cash payments of $50,000 and issuing an aggregate of 750,000 common shares of the Company to the
Optionor over an eight month period. In addition, the Company granted the Optionor a 2.0 % net smelter
returns royalty on the Property. All securities issued will be subject to a statutory four -month hold from
the date of issuance in accordance with applicable securities laws.
The proposed transaction remains subject to the approval of the C SE (if required), and is expected to
complete shortly. There are no guarantees that the proposed transaction will be completed as contemplated
or at all.
Qualified Person
Harrison Cookenboo, Ph.D., P.Geo., a n independent “Qualified Person” for the purpose of National
Instrument 43-101, has reviewed and approved the scientific and technical information included in this
news release.
About Spey Resources Corp.
Spey Resources Corp. is a Canadian lithium focused 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 a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
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FOR FURTHER INFORMATION CONTACT:
Nader Vatanchi
Chief Executive Officer
p:778-881-4631
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies
of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news
release.
Certain information contained herein constitutes “forward- looking information” under Canadian
securities legislation. Forward- looking information includes, but is not limited to the Company
completing the transaction contemplated by the Agreement , exploration of new targets on the Property
and further exploration programs on the Property and timing thereof . Generally, forward -looking
information can be identified by the use of forward- looking terminology such as “anticipates”,
“believes”, “anticipated” “expected” “intends” “will” or variations of such words and phrases or
statements that certain actions, events or results “will” occur. Forward-looking statements are based on
the opinions and estimates of management as of the date such statements are made and they are from
those expressed or implied by such forward-looking statements or forward-looking information subject to
known and unknown risks, uncertainties and other factors that may cause the actual results to be
materially different, including receipt of all necessary regulatory approvals. Although management of the
Company have attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-
looking statements and forward-looking information. The Company will not update any forward-looking
statements or forward-looking information that are incorporated by reference herein, except as required
by applicable securities laws.