New Risk • Mar 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (135% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.70m market cap, or US$1.98m). Aankondiging • Dec 21
Armory Mining Corp. announced that it has received CAD 0.666655 million in funding Armory Mining Corp. announced a non-brokered private placement of 9,523,643 flow-through units at a price of CAD 0.07 per 643 flow-through unit for gross proceeds of CAD 666,655.01 on December 19, 2025. Each flow-through unit consists of one flow-through common share and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share of the company at a price of CAD 0.09 per common share until December 19, 2028. In connection with the offering, the company paid aggregate finders' fees of CAD 53,122.40 and issued an aggregate of 758,891 finders' warrants to eligible finders. Each finder's warrant entitles the holder to purchase one additional non-flow-through common share of the company at exercise prices of CAD 0.07 and CAD 0.09 per common share until December 19, 2028. The company also paid a corporate finance fee of CAD 2,500 plus tax. All securities issued under the offering are subject to a four-month hold period expiring April 20, 2026, in accordance with applicable Canadian securities laws. Aankondiging • Nov 15
Armory Mining Corp. announced that it has received CAD 0.55 million in funding On November 14, 2025, the company has closed the transaction. The company has issued 10,000,001 units at an issue price of CAD 0.055 for the proceeds of CAD 550,000.06. In connection with the offering, the company paid aggregate finders' fees of CAD 5,900 to eligible finders. All securities issued under the offering are subject to a four-month hold period expiring March 14, 2026, in accordance with applicable Canadian securities laws. Aankondiging • Nov 04
Armory Mining Corp. announced that it expects to receive CAD 0.49995 million in funding Armory Mining Corp announced a non brokered private placement to issue 9,090,000 units at an issue price of CAD 0.055 for the proceeds of CAD 499,950 on November 3, 2025. Each Unit will be comprised of one common share of the Company and one transferable common share purchase warrant Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD 0.085 per common share for a period of five years from the date of issuance. All securities to be issued under the Offering will be subject to a four month hold period. Aankondiging • Sep 06
Armory Mining Corp. announced that it has received CAD 0.853 million in funding On September 5, 2025, Armory Mining Corp. closed the oversubscribed transaction. The company issued 1,000,000 units at an issue price of CAD 0.05 for gross proceed of CAD 50,000 in its final tranche. Each warrant entitles the holder to acquire an additional common share at a price of CAD 0.065 per common share until September 5, 2028. The company issued 17,060,000 units for total gross proceeds of CAD 853,000 in the offering. All securities issued under the final tranche in connection with the offering are subject to a four-month hold period expiring January 6, 2026, in accordance with applicable Canadian securities laws. Aankondiging • Aug 26
Armory Mining Corp. announced that it has received CAD 0.803 million in funding On August 25, 2025, Armory Mining Corp closed the transaction. The company announced that it has issued 16,060,000 units at a price of CAD 0.05 per Unit for aggregate gross proceeds of CAD 803,000. The transaction is oversubscribed. Each Unit is comprised of one common share and one transferrable common share purchase warrant. Each Warrant entitles the holder to acquire an additional common share at a price of CAD 0.065 per common share until August 25, 2028. In connection with the Offering, the Company paid cash finder’s fees of CAD 54,350 and issued 1,028,000 finder’s warrants to eligible arm’s length finders. The finder’s warrants are exercisable into a common share at CAD 0.065 per common share until August 25, 2028. The Company also issued 1,300,000 common shares to an arm’s length advisor for providing the Company financial advisory, consulting, and support services in connection with the Offering. Aankondiging • Aug 08
Armory Mining Corp. announced that it expects to receive CAD 0.75 million in funding Armory Mining Corp. announced a non brokered private placement offering of up to 15,000,000 units at a price of CAD 0.05 per Unit for aggregate gross proceeds of up to CAD 750,000 on August 7, 2025. Each Unit will be comprised of one common share and one transferable common share purchase warrant. Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD 0.065 per common share for a period of three years from the date of issuance. All securities to be issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. New Risk • May 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.7m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 3.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (250% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$1.96m market cap, or US$1.41m). Aankondiging • Jan 27
Armory Mining Corp. Announces the Resignation of Nader Vatanchi and Aaron Wong as Director Armory Mining Corp. announced the resignation of Nader Vatanchi and Aaron Wong as director of the company to pursue other opportunities. Aankondiging • Jan 25
Armory Mining Corp. Announces Chief Executive Officer Changes Armory Mining Corp. announced the appointment of Alex Klenman as Chief Executive Officer. Mr. Klenman is replacing Nader Vatanchi who has resigned as Chief Executive Officer to pursue other opportunities. Mr. Klenman is an experienced junior mining executive whose career spans over 30 years in the private and public sectors, with an emphasis on business development, marketing, finance, media, and corporate communications. Over the past decade he has held and continues to hold leadership roles with numerous publicly traded resource companies, including senior officer and/or director positions with Leocor Mining, Terra Clean Energy, Arbor Metals, Azincourt Energy and others. Aankondiging • Jan 23
Armory Mining Corp. announced that it has received CAD 0.677175 million in funding On January 22, 2025, Armory Mining Corp. closed the transaction. The company issued 5,016,111 common shares at a price of CAD 0.135 per share for gross proceeds of CAD 677,174.985. In connection with the offering, the company paid cash finder’s fees of CAD 65,017, issued 481,611 finder’s warrants, and issued 370,500 finder’s shares to eligible arm’s length finders. The finder’s warrants are exercisable into a common share at CAD 0.135 per share until January 22, 2029. The company also issued 700,000 common shares as compensation for advisory services provided in connection with the offering. Aankondiging • Dec 19
Armory Mining Corp. announced that it has received CAD 0.5 million in funding On December 19, 2024, the company has closed the transaction. The company issued 5,000,000 units at an issue price of CAD 0.10 per unit for aggregate gross proceeds of CAD 500,000. In connection with the offering, the company paid cash finder's fee of CAD 4,725 and issued 47,250 finder warrants to an eligible arm's-length finder. The finder warrants are exercisable into a common share at 20 cents per common share until December 18, 2026. Aankondiging • Nov 13
Spey Resources Corp. announced that it has received CAD 0.38 million in funding On November 12, 2024, Spey Resources Corp. closed the transaction. The company issued an additional 1,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of up to CAD 50,000. In a combination with the CAD 330,000 oversubscribed first tranche closing and this CAD 50,000 second tranche closing, the Company raised an aggregate of CAD 380,000. The addition of this second tranche closing was due to an administrative oversight in connection with the initial closing. New Risk • Oct 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (63% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$1.90m market cap, or US$1.37m). Aankondiging • Oct 24
Spey Resources Corp. announced that it has received CAD 0.33 million in funding October 23, 2024. the company has closed the transaction. Aankondiging • Oct 16
Spey Resources Corp. announced that it expects to receive CAD 0.3 million in funding Spey Resources Corp. announced a non-brokered private placement offering to issue 6,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 300,000 on October 14, 2024. Each unit will be composed of one common share and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of CAD 0.06 per common share for a period of five years from the closing of the offering. All securities to be issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Company may pay finder’s fees to eligible finders in connection with the Offering. Aankondiging • Oct 01
Spey Resources Corp., Annual General Meeting, Nov 28, 2024 Spey Resources Corp., Annual General Meeting, Nov 28, 2024. Board Change • Apr 10
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. CEO, VP of Corporate Finance & Director Nader Vatanchi is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Dec 07
Spey Resources Corp. (CNSX:SPEY) acquired 14.8% stake in First Responder Technologies Inc. (CNSX:WPN) from Rauni Malhi for CAD 0.63 million. Spey Resources Corp. (CNSX:SPEY) acquired 14.8% stake in First Responder Technologies Inc. (CNSX:WPN) from Rauni Malhi for CAD 0.63 million on September 28, 2023. Spey acquired ownership and control of 1,500,000 common shares at CAD 0.42 per share.Spey Resources Corp. (CNSX:SPEY) completed the acquisition of 14.8% stake in First Responder Technologies Inc. (CNSX:WPN) from Rauni Malhi on September 28, 2023. Aankondiging • Oct 14
Spey Resources Corp., Annual General Meeting, Dec 15, 2023 Spey Resources Corp., Annual General Meeting, Dec 15, 2023. Aankondiging • Oct 05
Spey Resources Corp. Appoints Nader Vatanchi as Chief Executive Officer Spey Resources Corp. announced the appointment of Nader Vatanchi as Chief Executive Officer of the Company. Mr. Vatanchi has served on the Company’s Board of Directors since May 2021 and was formerly Chief Executive Officer of the Company from March 2021 to October 2022. The Company thanked Philip Thomas for his tenure as Chief Executive Officer during the past year and wishes him all the best in future endeavours. Aankondiging • Sep 28
Spey Resources Corp. Completes NI 43-101 Candela II Lithium Brine Project Located in the Incahuasi Salar, Salta Province, Argentina 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. Aankondiging • Sep 19
Spey Resources Corp. Announces Kaslo, BC Silver Project Advances Spey Resources Corp. announced that it has received the results from its June 23 soil sampling, rock chip and reconnaissance work on its 42 claims west of the town of Kaslo, BCCanada. The area is of interest owing to the historical mining activity and its structural-geological setting. The main target areas of the 2023 field program were the Bismark-Gold Cure-Wintrop Cork-Province-Black Fox trends. Additional work was completed on the Silver Bell – Silver Bear trend and the Cat occurrence. A total of 207 soil samples were collected along predetermined soil lines at a 25 m spacing. Field duplicates and blanks were inserted at a rate of 2 QC samples per 50 soil samples. A total of 62 rock grab samples were collected. Rocks were collected into poly ore bags and secured with a zip tie for transport back to camp. The Bismark-Gold Cure-Wintrop trend is defined as a 2.4 km long SW-NE trending set of mineral occurrences in the central-south portion of the Property. Each of these occurrences contain historic producing mines with a total combined production of 1499 tonnes recovering 2914 kg Ag and 156093 kg Pb – note, gold, zinc, and copper values were largely not reported despite copper and zinc mineralization being observed in material from the mine dumps during the 2023 field season. The Cork-Province – Black Fox trend is defined as a > 1 km long SW-NE trending set of mineral occurrences in the central-north portion of the Property. Each of these occurrences contain historic producing mines with a total combined production of 192,296 tonnes recovering 16,053 kg Ag, 5,851,180 kg Pb, 9,107,400 kg Zn, 69,041 kg Cd, and 2.08 kg Au. The Silver Bear – Silver Bell trend is defined as a > 1 km long SW-NE trending set of mineral occurrences in the south-west portion of the Property. Each of these occurrences contain historic producing mines with a total combined production of 1,115 tonnes recovering 3,364 kg Ag and 121,868 kg Pb, 20,960 kg Zn, 66 kg Cd, and 93 g Au. The Cat trend and mineral occurrence is located up the east slope of Deer Creek at the eastern extent of the Property and only has the Cat mine. Further Work: The Kaslo Property provides multiple high interest targets for future work. Progress was made during the 2023 field season towards determining structural constraints on mineralization and areas of mineralization, but the Property anomalies all justify further detailed work. The company is assessing the resources required to complete a comprehensive data compilation of the thousands of historical soil, rock, silt, channel, and trench samples, as well as digitization of surface and underground geological mapping: diamond drilling is also being considered. Based on the findings of the 2023 field work, including the arsenic vector and base metal results in chips and soils, clear drill targets on the Black Fox occurrence are readily defined. Geophysics will also be considered as a preliminary step, and would refine targeting at Black Fox and also assist with second priority targeting at the Bismark and Gold Cure trend. This latter area would require helicopter placement of a drill due to the narrow ATV access roads and inclination of the slopes. Any of these mineralised trends could also be explored by mechanical trenching. Aankondiging • Jun 10
Spey Resources Corp. Completes Magnetotelleric Geophysics Survey at the Incahuasi Salar property, Candela II Spey Resources Corp. summarise its geophysics results at the Incahuasi Salar property, Candela II, where five DDH wells were drilled in 2021. Lithium brine values of 153ppm and 174ppm were assayed. Southern Rock Geophysics have completed the 1D and 2D in versions of the magnetotelleric (MT) survey (the " Survey") on three lines. The results show a low resistivity zone that extends to the eastern border of Candela II and extends from Line L7312200 to line L7309700 a distance of approximately 2.5km. The Survey penetrated to 4,000m depth. The conductive lithology units show a unit approximately 300m in thickness about 50m below the surface which is the aquifer intercepted. The interpretation of the deeper geophysics shows approximately 300m thick lithological units which were coarse sands in the upper sequences that were drilled to 200m in 2021. The Company anticipates its next drill program will be down to 350m for one or more holes to access these units. The interpretation of the 2D inversion model shows a centre highly conductive intrusion, with basement rocks at 3000m ABSL, that have higher resistivity (light green, yellow). No low resistivity units exist below 3,250m ABSL. Between 643500E and 644400E there appears to be a slight anticlinal fold followed by a syncline fold that may control the depth of the aquifer to the east. The Company expects to have a detailed report from Southern Rock Geophysics in the next few weeks. Candela II NI 43-101 Resource Statement. Mr. Ian Unsworth of WSP Australia completed a visit to the project from May 19, 2023 to May 23, 2023. Mr. Unsworth visited the 5 drill holes previously drilled and reviewed the brine flows from the Ganfeng spring 10km away. WSP are currently working on the mineral estimation. Aankondiging • Jan 17
Spey Resources Corp. Announces That It Intends to Focus on Its Incahuasi Salar Property Where 5 Diamond Drill Holes Wells Were Drilled in 2021 and Use This Drilling Data and Geophysics to Build A Resource Estimate Spey Resources Corp. announced that it intends to focus on its Incahuasi Salar property where 5 diamond drill holes wells were drilled in 2021 and use this drilling data and geophysics to build a resource estimate. The Company had previously proposed to drill at the Company's Pocitos 2 property of 532 Has in November 2022, but after delays in drill rig availability, the Company decided to focus on its Incahuasi Salar property. 5 DDH Wells were drilled at Candela II in 2021; noting hole 5 was pump tested and hole 4 recorded 173ppm Li; Montgomery & Associates Consultores Limitada produced a National Instrument 43-101 technical report, published on August 8, 2022; The wells' attributes have been assessed by a reserve engineer and the data declared suitable to produce a NI 43-101 inferred and indicated mineral resource; Additional geophysics work will be completed prior to the mineral resource report being completed; and Spey, at this point in time, has decided not to buy out the 20% interest A.I.S. Resources Limited holds in the project, but is in discussions with A.I.S. regarding a potential joint venture arrangement, involving pro-rata equity contributions, towards further project development. Candela II - The key features of Candela II exploration licence are as follows: The brine resource is hosted within two main hydrogeological units: halite (salt) and sand-gravel-halite (higher porosity); Lithium grades increase with depth, so there is potential to find values higher than 200 mg/L on the eastern side of the licence area; and The deeper clastic coarse grain aquifer is the hydrogeological unit with the highest potential in terms of economics. Further Work in 2023 - The following work needs to be done before a NI 43-101 mineral resource estimate can be completed: A long term pumping test in a new well to measure the hydraulic parameters of the aquifer as well as to check the lithium grade trends; A new depth specific sampling campaign using a bailer or electric wireline sampler in the wells to check Lithium grades in the aquifer lithological units; Specific geophysics surveys, of which an audio magneto telluric (CSAMT) survey is proposed to increase the information regarding the distribution of the lithium grades vertically at depth and horizontally; and Preparation and drilling of a well on the eastern most side of the licence to reach the deeper portion of the clastic aquifer, possibly 300-400m depth and simulate a pumping well based on the measured hydraulic parameters of the clastic aquifer. Board Change • Nov 24
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ian Graham is the most experienced director on the board, commencing their role in 2019. Independent Director Lawrence Hay was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • Nov 22
Spey Resources Corp. Announces Board Appointments Spey Resources Corp. announced that Mr. José de Castro and Mr. Aaron Wong will each be joining the board of directors of the company, effective November 18, 2022. Mr. de Castro is a mining executive and chemical engineer with deep knowledge and experience in ?international and Argentine mining operations, and project and commercial management. Mr. de Castro ?specializes in process engineering, mining, resources management and operations work. Mr. de Castro has ?held important operations and executive positions in mining organizations in Argentina and Chile, and ?was involved in the design, construction and start-up of the FMC Corporation facilities in the 1990´s, holding the position of Lithium Carbonate and Ponds Superintendent. In ??2009, Mr. de Castro was the Argentine Country Manager for Orocobre Ltd., where he was ?responsible for the feasibility, design, construction and start-up of their lithium brine project in the ?Lithium Triangle, Argentina. Currently Mr. de Castro is a director and chief operating officer of NRG Metals ?Inc., a junior resource company with two projects in Argentina Lithium Triangle. Mr. Aaron Wong is a capital markets consultant, and current director of Plant Veda Foods. Mr. Wong led the business development group at Fortuna Investments for three years. He was formerly an accountant at Ernst & Young LLP as a part of the assurance practice specializing in resources, technology, real estate and financial services. Mr. Wong received his Bachelors of Business Administration with a specialization in Finance from Western Michigan University. Aankondiging • Nov 12
Spey Resources Corp. Approves Board Elections Spey Resources Corp. at its AGM held on November 9, 2022 approved election of Nader Vatanchi, Ian Graham, and Lawrence Hay as directors of the Company for the ensuing year. Aankondiging • Nov 03
Spey Resources Corp. Announces Appointment of Jose Gustavo De Castro Alem to Advisory Board Spey Resources Corp. announced the addition of José Gustavo de Castro Alem to the Company’s advisory board. José is a mining executive and chemical engineer with deep knowledge and experience in international and Argentine mining operations, and project and commercial management. José specializes in process engineering, mining, resources management and operations work. José has held important operations and executive positions in mining organizations in Argentina and Chile, and was involved in the design, construction and start-up of the FMC Corporation (now Livent Corp.) facilities in the 1990s, holding the position of Lithium Carbonate and Ponds Superintendent. In 2009, José was the Argentine Country Manager for Orocobre Ltd., where he was responsible for the feasibility, design, construction and start-up of their lithium brine project in the Lithium Triangle, Argentina. José is a business savvy mining executive who has achieved continual sustainability through focused strategic workflow, staffing and business practice. He is well-versed with various project types, operations start-up, operations ramp-up and business profitability with focus on sustainability. Similar to Phil Thomas, the Company’s CEO, he has extensive experience with contractors, unions, communities and governmental authorities as well as the technical side of the business. José has strong risk management and financial experience with proven results achieved in South America. Aankondiging • Nov 01
Spey Resources Extracts 99.5% Battery Grade Lithium Carbonate Using Ekosolvetm Process from Flagship Candela Ii, Incahuasi Salar Project Spey Resources Corp. provided further information regarding its recent extraction of 99.5% battery grade lithium carbonate using the Ekosolve process. As announced in the Company's news release dated October 28, 2022, the Chemical Engineering Department at the University of Melbourne, Australia has successfully produced lithium carbonate from lithium chloride extracted from the Company's brines in Incahuasi Salar at the Candela II Project using the Ekosolve process. Spey has acquired the first Ekosolve production licence, which prioritizes the Company to be the first client to commission Ekosolve to complete the construction proposal, preliminary and plant engineering and manufacturing of the plant at Incahuasi. EkoSolve has issued seven other licences to date and will progressively commence engineering after Spey engineering is completed. The brines and the lithium carbonate that was produced are being assayed by an external laboratory to corroborate the results achieved by the University of Melbourne and the Ekosolve team. The brine was subjected to 10 phases of continuous processing that took approximately 22 seconds for the solvent to extract the lithium in each phase. The 10th phase had extracted 135.05gm of contained lithium from 140.23gm, a 96.03% recovery rate. The purity of the lithium carbonate was set at 99.5% based on the sodium carbonate used to convert the chloride. The Mg:Li ratio was more than 15:1, and the EkoSolve process performed exceptionally well. The trial was undertaken by Ekosolve Ltd. and the University of Melbourne (UoM) chemical engineering department and reported to Spey. All sampling received from Spey's Incahuasi project was sampled by SGS, Leeder Laboratories in Melbourne, and the UoM Chemical engineering department to validate the lithium content. The exploration program sampling was subject to a company standard of internal quality control and quality assurance programs which include the insertion of certified reference materials, blank materials and brine duplicate analysis. The total amount of brines analyzed was approximately 600 litres. All samples were processed for lithium analysis by ICP-5AM48. UoM, Leeder and SGS Argentina quality systems all conform to requirements of ISO/IEC Standard 17025 guidelines and meet assay requirements outlined for NI 43-101. Data verification of the analytical results included a statistical analysis of the standards and blanks that passed certain parameters for acceptance to ensure accurate and verifiable results. Aankondiging • Oct 29
Spey Resources Corp. Extracts 99.5% Lithium Carbonate Using Ekosolve(TM) Process from Flagship Candela II, Incahuasi Salar Project Spey Resources Corp. announced that the Chemical Engineering Department at the University of Melbourne, Australia has successfully produced lithium carbonate from lithium chloride extracted from the Company’s brines in Incahuasi Salar at the Candela II Project using the Ekosolve™ process. Spey has acquired the first Ekosolve production licence, which prioritizes the Company to be the first client to commission Ekosolve to complete the construction proposal, preliminary and plant engineering and manufacturing of the plant at Incahuasi. EkoSolve has issued seven other licences to date and will progressively commence engineering after Spey engineering is completed. The brines and the lithium carbonate that was produced are being assayed by an external laboratory to corroborate the results achieved by the University of Melbourne and the Ekosolve team. The brine was subjected to 10 phases of continuous processing that took approximately 22 seconds for the solvent to extract the lithium in each phase. The 10th phase had extracted 135.05gm of contained lithium from 140.23gm, a 96.03% recovery rate. The purity of the lithium carbonate was set at 99.5% based on the sodium carbonate used to convert the chloride. The Mg:Li ratio was more than 15:1, and the EkoSolve™ process performed exceptionally well. The trial was undertaken by Ekosolve Ltd. and reported to Spey. Aankondiging • Oct 25
Spey Resources Announces Commencement of Exploration for Lithium in James Bay Region of Quebec Spey Resources Corp. announced commencement of the initial exploration on the Company’s four lithium projects located in the James Bay region of Quebec (the James Bay Property). The four projects comprising the James Bay Property are the 454 Project, the West Lac Corvette Project, the Trieste Project and the Salomon Project, which are located between Patriot Battery Metals’ Corvette Lithium Project to the northwest, and Winsome Resources’ Adina lithium pegmatite to the southeast. Patriot Battery Metals’ Corvette Lithium Project has reported lithium occurrences in spodumene (hard rock lithium mineral) pegmatite. Spey notes that the reported pegmatite occurrences on nearby properties does not mean that similar occurrences will be found on the James Bay Property. The first step of Spey’ lithium exploration program is a multi-spectral analysis of satellite imagery from the European Space Agency’s Sentinel-2 high-resolution, multi-spectral imaging mission. Spey’s consultants are applying principal component analysis (PSA) to as many as 10 spectral bands, and comparing the results from the James Bay Property to spodumene pegmatites identified from nearby properties, after making required atmospheric corrections. Any targets identified as spodumene pegmatites will be mapped, channel sampled at surface, and drilled as warranted. Aankondiging • Oct 19
Spey Resources Corp. Announces That Ministerio De Produccion Y Desarrollo Sustentable (Minister of Production and Sustainable Development) Approves Company's Drill Permits for Pocitos Salar Projects 1 and 2 Spey Resources Corp. announced that the Ministerio de Produccion y Desarrollo Sustentable (Minister of Production and Sustainable Development) (the "MPSD") has approved the Company's drill permits for Pocitos Salar projects 1 and 2. As mentioned in the Company's press release dated October 6, 2022, the drill camp, internet, diesel tanks and geological offices have been constructed in the town of Pocitos. Drill Rigs Mobilizing To Pocitos Salar, ArgentinaPhil Thomas, CEO of Spey, states, "these are times for the Company since have received green light to drill and have mobilized the drill rigs to Pocitos 1. Drilling has begun on Pocitos 1 and the company anticipates drilling to begin on Pocitos 2 around October 27, 2022. Drill Rig Set Pocitos 1, Pocitos Salar, Argentina Qualified Person The scientific and technical content of this news release has been reviewed and approved by Phillip Thomas, BSc. Geol, MBM, FAusIMM, MAIG, MAIMVA(CMV), who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and is CEO of the Company. About Spey Resources Corp.Spey Resources is a Canadian mineral exploration company which has an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in Pocitos II and 20% interest in the Pocitos I lithium projects . Spey also holds interests in four lithium exploration projects located in the James Bay Region of Quebec . Spey has a 100% 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. Aankondiging • Oct 14
Spey Resources Corp. Announces Chief Financial Officer Changes Spey Resources Corp. announced that Harry Nijjar has joined the company as Chief Financial Officer, effective October 12, 2022. Mr. Nijjar is currently a managing director with Malaspina Consultants Inc. and provides chief financial officer and strategic financial advisory services across many industries. His experience has allowed him to help companies successfully navigate regulatory and financial environments within which they operate. Mr. Nijjar holds a CPA, CMA, designation from the Chartered Professional Accountants of British Columbia. The company also announced that Mr. Abbey Abdiye has resigned from the Company as Chief Financial Officer, effective October 12, 2022. Aankondiging • Oct 08
Spey Resources Corp. (CNSX:SPEY) acquired Lithium Energy Metal Corporation for CAD 1.9 million. Spey Resources Corp. (CNSX:SPEY) entered into an agreement to acquire Lithium Energy Metal Corporation for CAD 1.9 million on September 28, 2022. On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, Spey Resources Corp. will issue an aggregate of 8,900,000 common shares to the shareholders of LEM. 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.
Spey Resources Corp. (CNSX:SPEY) completed the acquisition of Lithium Energy Metal Corporation on October 7, 2022. Aankondiging • Oct 07
Spey Resources Corp. prepares for drilling at Pocitos 2, Pocitos Salar, Argentina in November 2022 Spey Resources Corp. announced that it has mobilised the drill rig and completed camp preparations for drilling its 400m exploration well in its 600has Pocitos 2 concession. The camp, internet, diesel tanks and geological offices have been constructed in the town of Pocitos. The drilling work permit has been processed and The company is waiting on official certification of the permit due next week. Once or two exploration drill holes with approximately 400m of drilling are completed, the rig will move to Incahuasi salar approximately 120km away and drill three holes on the targeted aquifer locations. A double packer will sample the brines at depth and be reported on. After the exploration hole is drilled and a pumping test completed a further hole or a production well will be drilled using the rotary drill machine. Aankondiging • Oct 06
Spey Resources Corp., Annual General Meeting, Nov 09, 2022 Spey Resources Corp., Annual General Meeting, Nov 09, 2022. Aankondiging • Oct 05
Spey Resources Corp. Announces Executive Changes Spey Resources Corp. announced that Phillip Thomas has joined Spey as Chief Executive Officer, effective October 3, 2022. Mr. Thomas is a highly specialised lithium brine geologist with significant experience in salt lake (salars) exploration, hydrology, estimation and production chemical engineering. He has had more than 30 years experience in the capital markets as a mining focussed investment banker with Macquarie Bank and ABN-Amro. Mr. Thomas is Non-Executive Chairman of copper producer Austral Resources Australia Ltd. In 2003, Mr. Thomas and his team at Admiralty Resources explored and built a lithium carbonate extraction process and plant at Rincon Salar, Argentina, which was sold recently for USD 825 million to Rio Tinto from Rincon Lithium. In 2009, as CEO of Lithea Inc., Mr. Thomas explored and produced a resource estimate for the Pozuelos Salar that was sold to Ganfeng this year for USD 962 million. Ganfeng holds the concession adjacent to Spey’s Candella II, both within the Incahuasi salar. Mr. Thomas has also completed geophysics studies, drilled and explored Salinas Grandes, Pocitos, Incahuasi, Vilama and Guayatayoc salars, all located in Argentina. Mr. Thomas is also a shareholder and co-founder of Ekosolve™, a direct lithium extraction technology using solvent exchange that enables producers to extract lithium from high magnesium content brines with significantly higher recoveries and lower cost than most other technologies. Ekosolve™ Limited is currently developing a construction plan for a 20 tonne lithium carbonate mini plant in partnership with Spey Resources, who has licensed the EkosolveTM technology. Mr. Thomas holds a Masters of Business Marketing degree with high distinction from Monash University, a Bachelor of Science (Geology) degree and a finance qualification. He is a member of the Australian Institute of Geoscientists, a Fellow of the Australasian Institute of Mining and Metallurgy (“AusIMM”) and a Certified Mineral Valuer and past Chairman of the Australasian Institute of Mineral Valuers and Appraisers. Mr. Thomas has completed post graduate courses in geophysics and geochemistry at the University of Adelaide, and JORC code with AusIMM. The Company also announces that Mr. Nader Vatanchi has resigned as Chief Executive Officer, effective October 3, 2022, and will now assume the role of Vice President of Corporate Finance and remain as a director of the Company. Aankondiging • Sep 29
Spey Resources Corp. (CNSX:SPEY) entered into an agreement to acquire Lithium Energy Metal Corporation on for CAD 1.9 million. Spey Resources Corp. (CNSX:SPEY) entered into an agreement to acquire Lithium Energy Metal Corporation on for CAD 1.9 million September 28, 2022. On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, Spey Resources Corp. will issue an aggregate of 8,900,000 common shares to the shareholders of LEM. 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. Aankondiging • Sep 18
Spey Resources Corp. announced that it has received CAD 3.874762 million in funding On September 16, 2022, Spey Resources Corp. closed the transaction. The company has issued 22,141,496 units for gross proceeds of CAD 3,874,761.80. Aankondiging • Sep 07
Spey Resources Corp. announced that it expects to receive CAD 2.75 million in funding Spey Resources Corp. announced a non-brokered private placement of consisting of 15,714,285 units at CAD 0.175 per unit for gross proceeds of CAD 2,750,000 on September 6, 2022. Each unit comprised of one common share of the company and one-half of one common share purchase warrant of the company, with each whole Warrant entitling the holder to acquire one share at a price of CAD 0.35 per warrant share for a period of twenty-four months. All securities issued in the Offering will be subject to a statutory four month hold period. The closing of the offering is subject to receipt of all regulatory approvals, including approval of the CSE. The offering is expected to close on or about September 12, 2022. Aankondiging • Aug 24
Spey Resources Corp. Announces the Achievement of Certain Development Milestones and Planned Future Activities Regarding the Incahuasi Salar Property and Pocitos Salar Property, Respectively Spey Resources Corp. announced the achievement of certain development milestones and planned future activities regarding the Incahuasi Salar property and Pocitos Salar property, respectively. IncahuasiSalar: On March 23, 2022, the Company acquired an 80% interest in the Candela II project by paying USD 1,000,000 and continues to have the right to option the other 20%; On August 10, 2022, the Company completed and lodged an initial NI 43-101 compliant drilling report with 161ppm lithium sample recorded, and identified an aquifer at 200m depth in drill hole INCA-21-05R; Based on five exploratory (5) drill holes from the Company’s initial drilling report, it was determined that a production drill hole program be completed; The Company is actively searching for a drilling contract to execute the Company’s five (5) hole production drill program at Candela II that will include one or more production wells where a submersible pump can be used to do a brine flow test; The Company anticipates that an amended work plan for the drilling program at Incahuasi will be lodged shortly; and The Company expects a mineral resource estimate to be computed after the five (5) production drill hole program is completed. PocitosSalar: The Company has lodged an addendum for the purposes of maintaining the road onto the Salar in order to facilitate drilling; Community permission has been granted to drill a well on Pocitos 2 to a depth of 400m; and The Company is actively searching for a drilling contract to drill an exploratory well at Pocitos II, bordering Pocitos I project. Board Change • Aug 15
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Ian Graham is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.