SPEYF - SPEY RESOURCES COMPLETES SCHEDULED PAYMENT FOR CANDELA II PROJECT
Vancouver, British Columbia, March 14, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (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.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, and the Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
Nader Vatanchi CEO, Director
nader@speyresources.ca
778-881-4631
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the right of the Company to acquire additional interests in mineral projects, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this press release.