Mr. Nader Vatanchi reports

SPEY RESOURCES CORP. ENTERS INTO SHARE EXCHANGE AGREEMENT WITH ANTIMONY ASSETS AND ANNOUNCES NAME CHANGE

Spey Resources Corp. has entered into a share exchange agreement dated Nov. 8, 2024, with Antimony Assets Inc. and the shareholders of Antimony to acquire 100 per cent of the issued and outstanding common shares of Antimony in consideration for an aggregate of 4,975,000 common shares of the company at a deemed price of 6.75 cents per share. Antimony is a privately held arm's-length party that holds an interest in two mineral claims covering 3,550 hectares, located in Haida Gwaii, British Columbia.

The proposed transaction remains subject to customary conditions of closing, including the company completing due diligence to its satisfaction and the approval of the Canadian Securities Exchange (if required), and is expected to complete shortly.

The consideration shares will be issued pursuant to an exemption from the prospectus requirements under applicable securities laws pursuant to Section 2.16 of National Instrument 45-106 and are anticipated to be free trading upon issuance. There are no guarantees that the proposed transaction will be completed as contemplated or at all.

Name change

The company is also pleased to announce it intends to change its name from Spey Resources Corp. to Armory Mining Corp., effective on or about Nov. 19, 2024. The trading symbol on the CSE will change to ARMY. An application is pending for a symbol change on the OTC and will be provided once available. The new Cusip will be 042279109, and the new ISIN will be CA0422791099.

No action will be required to be taken by shareholders with respect to the name or symbol change, and the share capital of the company will remain unchanged. Outstanding share and warrant certificates are not affected by the name change and do not need to be exchanged.

The claims

The claims, known as the Riley Creek project, are located on the west side of Graham Island, Haida Gwaii, in the north coast region of British Columbia. The Riley Creek project surrounds four small claims owned by an arm's-length company that cover four separate gold-antimony occurrences. These four occurrences are described as hydrothermal hot spring deposit types within the Middle Jurassic Yakoun group pyroclastic andesites, volcanic sediments and argillites. They occur along the regionally significant Rennell-Louscoone northwest-trending fault system. No qualified person working for the company has been able to verify the information related to the four occurrences, but the company believes the proximity to the occurrences supports exploration for new targets in the Riley Creek project area. The references to these occurrences are not necessarily indicative of mineralization on the Riley Creek project area. Significant features of the individual mineral occurrences are summarized briefly below:

1. Needles: gold, silver and antimony showing. "A 3.0-metre chip sample of the altered zone assayed 0.93 gram per tonne gold and a 1.0-metre sample assayed 0.96 gram per tonne gold and 0.68 gram per tonne silver (B.C. assessment report 15325)."
2. Sol (Gumbo zone): gold, silver and antimony showing. "A drill hole intersected a two-metre section, which assayed 3.3 grams per tonne gold and 0.6 gram per tonne silver (B.C. assessment report 8225)."
3. Courte: antimony, gold silver, lead and zinc showing. "A chip sample of continuous exposure in Sol Creek assayed 1.37 grams per tonne gold and 0.4 per cent antimony over 95 metres (B.C. assessment report 24981, page 8)." Also, "A drill hole 425 metres east-southeast from mineralization exposed in Sol Creek assayed 1.37 grams per tonne gold and 0.23 per cent antimony over 10 metres (B.C. assessment report 24981, page 8)," and "a 2.27-kilogram sample, taken by Luke Watson in 1942, assayed trace gold, 19.2 grams per tonne silver, 0.1 per cent lead, 0.2 per cent zinc and 32.9 per cent antimony (Minister of Mines annual report 1942, page 32)."
4. Rumplestiltskin: gold showing. "Surface samples have returned from 1.25 to 7.8 grams per tonne gold (George Cross newsletter No. 94. May 17, 1982)."

Qualified person

Harrison Cookenboo, PhD, PGeo, is an independent qualified person for the purpose of National Instrument 43-101, and has reviewed and approved the contents of this news release.

All data in this news release are historical in nature and were not verified by Spey. Referenced nearby occurrences provide geologic context for the Riley Creek project, but are not necessarily indicative that they hosts similar potential, size or grades of mineralization.

About Spey Resources Corp.

Spey 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., and an option to acquire a 100-per-cent interest in certain mineral claims located in Nova Scotia.

We seek Safe Harbor.