Mr. Nader Vatanchi reports

SPEY RESOURCES CORP. CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT OF UNITS

Spey Resources Corp.'s non-brokered private placement offering previously announced by the company on Oct. 15, 2024, was oversubscribed and, as a result, the company has now closed the offering by issuing 6.6 million units at a price of five cents per unit for aggregate gross proceeds of $330,000.

Each unit consists of one common share in the capital of the company and one-half of one transferrable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at an exercise price of six per share until Oct. 23, 2029.

The proceeds raised from the offering are expected to be used for working capital and general corporate purposes. The securities issued under the offering are subject to a four month hold period expiring on Feb. 24, 2025, in accordance with applicable Canadian securities laws.

About Spey Resources Corp.

Spey Resources is a Canadian lithium-focused mineral exploration company which has an 80-per-cent interest in the Candela II lithium brine project located in the Incahuasi salar, Salta province, Argentina. Spey also holds a 100-per-cent interest in the Kaslo silver project, west of Kaslo, B.C.

We seek Safe Harbor.