Spey Resources Corp. announced that it has signed an option agreement (the ?Agreement?) with American Salars Lithium Inc. (?American Salars?), whereby the Company has granted American Salars the option to acquire the Company?s 80% interest in the Candela II Lithium Brine Project located in the Incahuasi Salar, Salta Province, Argentina (the ?Property?). Under the terms of the Agreement made between the Company, Amercian Salars and A.I.S. Resources Ltd. (?AIS?), the Company and AIS shall sell their proportion of shares held in Spey Resources Argentina SA (the ?Subsidiary?), which holds a 100% interest in and to the Property.

In consideration of the Company optioning its 80% interest in the Subsidiary to American Salars, the Company will receive cash payments totaling CAD 1,958,000 and 5,268,000 common shares in the capital of American Salars (the ?Shares?) at a deemed price of CAD 0.30 per Share as follows: Upon American Salars? completion of the earn-in on the Property, the Company shall retain a 12% Net Smelter Royalty on the Property (the ?NSR?), of which American Salars may purchase at any time for a cash payment of CAD 6,600,000. The NSR supersedes and cancels all previously held royalties on the Property.