Armory Mining Corp C.SPEY

Spey Resources to Acquire 4 Lithium Properties in James Bay

[yukon_gold]

SPEY RESOURCES CORP. TO ACQUIRE LITHIUM ENERGY METAL CORPORATION

 
Vancouver, British Columbia — September 28, 2022 — Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce that it has entered into an agreement (the “Agreement”) to acquire all of the shares of Lithium Energy Metal Corporation (“LEM”), which owns the following four (4) projects in the James Bay Region of Quebec:
 

• The 454 Block Project - consists of 10 contiguous claims (513 hectares). The claims occur within the Archean Langelier Complex, which are the oldest rocks in the Le Grand sub-province of the regional Superior Province, and comprise foliated tonalite with hornlende-biotite magnetite.

• The West Lac Corvette Project - consists of 10 contiguous claims (513 hectares). The claims cover Mesoarchean rocks of the Rouget Formation, derived from basalts as well as Neoarchean Marbot Formation wackes (with injections of granite), and southern margin of the Mesoarchean tonalite pluton (post de Le Moyne).

• The Trieste Project - consists of two separate contiguous blocks totaling 50 claims and covering 2,575 hectares (618 hectares north, and 1,957 hectares south), with mylonite and amphibolite rocks of the Mesoarchean Trieste Formation that were derived from basalts.

• Salomon Project – 100 claims in two separate continuous blocks, covering 5,155 hectares. The project includes Mesoarchean mylonites and amphibolites, as well as younger Neoarchean metamorphic wackes and arkoses.

On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, the Company will issue an aggregate of 8,900,000 common shares to the shareholders of LEM (collectively).
 
Closing of the Acquisition is subject to the Company being satisfied with its due diligence review, as well as certain customary conditions, including receipt of all necessary regulatory and other approvals.
 
Qualified Person
The technical and scientific information contained within this news release has been reviewed and approved by Robert Lane, MSc., P.Geo., who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
 
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 Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are 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
 
[e-mail]
778-881-4631