Corporate Update: Spey Subsidiary Tech One Lithium Resources Corp. Signs Agreement for Lithium Solvent Processing Technology

Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) - Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) ("Spey" or the "Company") is pleased to announce that on March 18, 2021 its wholly owned subsidiary, TechOne Lithium Resources Corp. signed a facility fee agreement to have access to utilize the Ekosolve™ Lithium Solvent Exchange Extraction process that can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.2% and a recovery of 97%, far exceeding any ion exchange or adsorption process available to date. Ekosolve™ is licensed to University of Melbourne, Australia.

The key advantage of the Ekosolve system is the elevated rate of lithium yield targeting 97% with 95% of the solvent being reclaimed. Other systems such as adsorption may achieve 72-80% yield, fractional crystallization of 50-70%, and ion exchange up to 90%. In adsorption and ion exchange systems, extra processes may be required to manage the magnesium and boron in the brines whereas this is not an issue with the Ekosolve process. Hence the capital expenditure and operating costs are anticipated to be substantially reduced. A significant benefit, evaporation ponds are not required, providing a more eco-friendly solution.

Spey Resources chief executive officer and director Nader Vatanchi states, "Having access to the Ekosolve™ lithium extraction process could potentially save significant capital costs and provides the added benefit of being environmentally friendly. The process has been tested and patented at the University of Melbourne, Australia, and we are looking forward to sending our lithium brine samples there for testing within the next week or two."

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Thomas is independent of the Company but discloses that he is a shareholder of SPEY.

About Spey Resources Corp.

Spey Resources is a Canadian mineral exploration company which holds an option to acquire 100% 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 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
www.speyresources.ca

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 Company's exploration programs, the Company's mineral property development plans and the use of funds raised in the Private Placement, 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. Such uncertainties and risks include, without limitation, financing risks, delays in obtaining or inability to obtain required regulatory approvals, legislative, environmental and other judicial, regulatory, political or competitive developments, exploration and operational difficulties, the timing of future business expenditures, the potential of the Company's mineral properties and changes in economic conditions or financial markets. 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 newinformation, future events or otherwise, except as required by law.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86356