KASLO, BC SILVER PROJECT ADVANCES

SOILS, ROCK CHIPS ASSAYED RECORDING CONTIGUOUS ANOMALOUS AREAS OF SILVER,

ZINC, COPPER, LEAD, and TIN

Vancouver, British Columbia — September 18, 2023 — Spey Resources Corp. (CSE: SPEY) (OTC:

SPEYF) (FRA: 2JS) ("Spey” or the "Company") announces 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,

BC Canada.

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 (green on above map) at a 25 m spacing. Field duplicates and blanks were inserted at a rate of 2 QC samples per 50 soil samples. A - 2 - 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.

* Important Disclaimer: The reader should note that none of the above estimates are NI 43-101 compliant and are taken from historical records where no information is available on QA/QC procedures for measurement.

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.

Amendment to Option Agreement

The Company has amended the option agreement pertaining to the Kaslo Property whereby, in lieu of a $100,000 cash payment that was due by August 31, 2023, the Company shall pay $50,000 and issue common shares in the capital of the Company (the “Shares”) having a value of $50,000 on December 15, 2023. The deemed price of the Shares shall be calculated based on the market price of the Shares at the time of Issuance. The Shares shall be subject to a statutory hold period of four months and one day from issuance.

Approved for release by the Board of Directors

‘Phillip Thomas’

Phillip Thomas Chief

Executive Officer