Spey Resources Corp. announced that the NI 43-101 Mineral Resource Estimate has been completed on the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina by WSP Australia Pty Limited which is estimated to contain lithium metal of 86,000 tonnes which equates to 457,520 tonnes of in-situ Lithium Carbonate Equivalent and a lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal. The calculations assume no losses from lithium metal.

The Board considers the project to continue to be viable and, using the current estimates, building a 5,000 tonne Ekosolve(TM) plant at the current lithium carbonate price of $30,000 per tonne would provide the basis for a scoping study analysis given the plant would have a 9.5 year mine life assuming the resource is not expanded through subsequent work as recommended by WSP. The MRE for the Project is reported in accordance with NI 43-101 and has been estimated in conformity with generally accepted CIM Estimation of Mineral Resource and Mineral Reserves Best Practices guidelines. Field monitoring and supervision - USD 240,000.

Reporting - USD 70,000. Total estimated cost of approximately USD 2,420,000 (plus taxes), or CAD 3,265,00 (plus taxes) fothe proposed t three cored exploration well, and two pumpable well exploration program. If the results of the proposed exploration program are favorable and support feasibility of a lithium extraction project, additional studies should include the following: "Fujian" study of the existiting hydrogeological model, including additional refinement of hydrogeological units critical to aquifer definition.

Additional studies in support of the development of a Preliminary Economic Assessment (PEA) study. Spey Resources SA ("SRS") is finalising the shareholder agreement ("Shareholder Agreement") between AIS Resources SA ("AISSA") and SRS for the development of the Candela II concession. SRS holds an 80% interest in the Candela II concession and AISSA, a 20% interest.

Spey's next milestone will be a production well and two exploration wells to conduct a brine release test and specific yield test. AISSA will have the right to financially contribute to the drill program to retain its equity percentage pursuant to the Shareholder Agreement.