SPEY RESOURCES COMPLETES SCHEDULED PAYMENT FOR CANDELA II PROJECT

Vancouver, British Columbia, March 14, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CNSX:SPEY.CN) (OTC:SPEYF) (FRA:2JS) ("Spey” or the "Company") is pleased to announce that it has paid the U.S. $1 million option payment, and completed U.S. $500,000 in exploration expenditures, in respect of the Candela II project in the Incahuasi Salar in Argentina. Accordingly, pursuant to the terms of the option agreement with A.I.S. Resources Limited (AIS), Spey has exercised the option to acquire 80% of the Candella II project. Spey has also, as a result of exercising the option, acquired the further right, but not the obligation, to acquire the remaining 20% interest by making a payment of U.S. $6-million on or before March 18, 2023, which payment amount is subject to adjustment pursuant to the terms of the option agreement.