Mr. Nader Vatanchi reports

SPEY RESOURCES CORP. OPTIONS CANDELLA II LITHIUM BRINE PROJECT

Spey Resources Corp. has signed an option agreement with American Salars Lithium Inc., whereby the company has granted American Salars the option to acquire the company's 80-per-cent interest in the Candela II lithium brine project located in the Incahuasi salar in Salta province, Argentina.

Under the terms of the agreement made between the company, Amercian Salars and A.I.S. Resources Ltd., the company and A.I.S. shall sell their proportion of shares held in Spey Resources Argentina SA, which holds a 100-per-cent interest in and to the property. In consideration of the company optioning its 80-per-cent interest in the subsidiary to American Salars, the company will receive cash payments totalling $1,958,000 and 5,268,000 common shares in the capital of American Salars at a deemed price of 30 cents per share as shown in the attached table.

Upon American Salars' completion of the earn-in on the property, the company shall retain a 12-per-cent net smelter royalty on the property, of which American Salars may purchase at any time for a cash payment of $6.6-million. The NSR supersedes and cancels all previously held royalties on the property.

About Spey Resources Corp.

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

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