West Vancouver, British Columbia--(Newsfile Corp. - October 3, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that it has entered into two mineral property purchase agreements to purchase a total of twenty-five (25%) of the mineral rights (the "Mineral Rights") to private lands, comprised of four parcels, totaling 880 acres (the "Private Lands") situated in Surge's existing North Nevada Lithium Project (the "NNLP"). The Private Lands are shown on the attached map of the NNLP.

The first of the two mineral property purchase agreements, dated effective September 14, 2023, (the "Wilkins Family Agreement") calls for Surge to purchase a twenty-one point two five (21.25%) percent interest in the Mineral Rights underlying the Private Lands in exchange for: (i) a deposit of US$50,000 payable pro rata to the three vendors (the "Wilkins Vendors") under the Wilkins Family Agreement; (ii) upon receipt of regulatory (TSX Venture Exchange) approval of the Wilkins Family Agreement, issuance pro rata to the Wilkins Vendors a total of 1,250,000 shares of Surge's common stock; and (iii) upon Surge entering into an agreement (the "Surface Agreement") to purchase the surface rights to the Private Lands, should such an agreement be entered into, USD$150,000 will be paid pro rata to the Wilkins Vendors. The Wilkins Family Agreement contains provision for payment of a three (3%) percent royalty on production from percentage of the Mineral Rights on the Private Lands purchased from the Wilkins Vendors (the "Wilkins Royalty"). The Wilkins Royalty is not payable until such time as the Surface Agreement is entered into with the owners of the surface rights to the Private Lands. Surge has the right for five (5) years to purchase one-half of the Wilkins Royalty (reducing the royalty to 1.5%) by paying to the Wilkins Vendors USD$750,000.

The second of the two mineral property purchase agreements, dated effective September 15, 2023, (the "Y3-II Agreement") calls for Surge to purchase a three point seven five (3.75%) percent interest in the Mineral Rights underlying the Private Lands in exchange for: (i) a deposit of USD$8,250 payable pro rate to the two vendors (the "Y3-II Vendors") under the Y3-II Agreement; (ii) upon receipt of regulatory (TSX Venture Exchange) approval of the Y3-II Agreement, issuance pro rata to the Y3-II Vendors of a total of 300,000 shares of Surge's common stock; and (iii) upon Surge entering into the Surface Agreement, should such an agreement be entered into, USD$24,750 will be paid pro rata to the Y3-II Vendors. The Y3-II Agreement contains provision for payment of a three (3%) royalty on production from percentage of the Mineral Rights on the Private Lands purchased from Y3-II (the "Y3-II Royalty"). The Y3-II Royalty is not payable until such time as the Surface Agreement is entered into with the owners of the surface rights to the Private Lands. Surge has the right for five (5) years to purchase one-half of the Y3-II Royalty (reducing the royalty to 1.5%) by paying to the Y3-II Vendors USD$225,000. Transfer of the interest of the Y3-II Vendors is conditional upon entering into the final agreement for the Royalty prior to the transfer.

Both the Wilkins Family and Y3-II are at arm's length to the Company.

Mr. Graham Harris, Chair and Director commented: "The private lands are comprised of separate surface (grazing) rights and subsurface (mineral) rights. Acquiring an interest in the mineral rights ensures our place as a stakeholder in the parcels of land we surround. We would like to thank the above parties for their cooperation. We will continue to work with the remaining parties so we can include this area in future exploration and development plans."

Land and mineral rights to the Private Lands are divided into surface rights and sub-surface or "mineral estate" rights each of which confer upon the holder certain rights at law in the State of Nevada.

Both the Wilkins Agreement and the Y3-II Agreement are subject to their approval by the TSX Venture Exchange.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (See news release dated March 29, 2023)

The 2023 drill program is underway and is designed to expand the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. Initial assay results from the first hole of the 2023 season had a high of 8,070 ppm lithium with an average of 4,067 ppm lithium at a 1,000 ppm cut-off. (See news release dated August 13, 2023).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/182773_7c0f33af345a6bbe_001full.jpg

On behalf of the Board of Directors

"Graham Harris"

Graham Harris,
Director and Chair

Contact Information
Email: [email protected]
Phone: 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182773

West Vancouver, British Columbia--(Newsfile Corp. - September 28, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5C) (the "Company" or "Surge") has qualified to trade on the OTCQX Best Market®. Surge upgraded to OTCQX from the OTCQB Venture Market®. Surge begins trading today on OTCQX under the symbol NILIF.

The OTCQX market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX market from the OTCQB market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Mr. Greg Reimer, Chief Executive Officer, and Director commented: "We are very pleased to advance to the OTCQX in order to provide our US investors with enhanced value in trading our securities."

U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on www.otcmarkets.com.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (See news release dated March 29, 2023)

The 2023 drill program is underway and is designed to expand the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. Initial assay results from the first hole of the 2023 season had a high of 8,070 ppm lithium with an average of 4,067 ppm lithium at a 1,000 ppm cut-off. (See news release dated August 13, 2023)

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone : 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182193

NEW YORK, Sept. 28, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Surge Battery Metals Inc. (TSX-V: NILI; OTCQX: NILIF), a Canadian-based mineral exploration company, has qualified to trade on the OTCQX® Best Market. Surge Battery Metals Inc. upgraded to OTCQX from the OTCQB® Venture Market.

Surge Battery Metals Inc. begins trading today on OTCQX under the symbol “NILIF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Mr. Greg Reimer, Chief Executive Officer, and Director commented: “We are very pleased to advance to the OTCQX in order to provide our US investors with enhanced value in trading our securities”.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada, USA whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

The Company’s flagship project, the Nevada North Lithium Project, is located in the Granite Range, southwest of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters and a width of 400 meters which intersected an average grade, applying a 1,000 ppm cut off of 3,254 ppm. The 2023 drill program is underway and is designed to expand the current 1,620 meters strike length to more than 3,500 meters and the width to 950 meters. Initial assay results from the first hole of the 2023 season averaged 4,067 ppm lithium at a 1,000 cut off.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX ^® Best Market, OTCQB ^® Venture Market and Pink ^® Open Market.

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West Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5C) (the "Company" or "Surge") is pleased to announce that the second certified assay results from the summer drilling program at the Nevada North Lithium Project returned values ranging from 1,000 ppm to 5820ppm lithium.

Samples from sonic drill hole NN2302 (Drill site location M) returned positive results ranging between the 1,000 ppm cutoff to 5820 ppm Li. This includes the highest grade zone which begins at 67.5ft (20.57m) below surface and extends 180 ft (54.86m) with an overall composite grade of 3,985 ppm Li. (See Appendix 1 for interval values). NN2302 has a composite thickness of intersected clay horizons of 41.2m (135ft), for an overall average grade of 3712 ppm Li. Significantly, the composite grade of clay horizons encountered in NN2302, is 15% higher than the average composite grade of clay horizons intersected in the reverse circulation drillholes completed in 2022.

The 2023 drill site locations were designed to confirm the presence of high tenor lithium clay formations, interpreted from geophysical surveys, extending well outside the bounds of the 2022 program. NN2302 is an approximate 250m (820 ft) step out to the northwest from NN2205 from the 2022 program which produced an overall program average grade of 3,254 ppm with a 1,000 ppm cut off.

Composite lithium values for both mineralized horizons, using a 1,000 ppm cutoff with no internal dilution, are shown in the following table:

All samples from the sonic drilling were collected in plastic bags for every 2.5-foot (76.2 cm) interval. Surge workers at the rig retained a representative sample in chip trays and core boxes for each interval and sealed the bags with wire ties. Samples were transported by Surge workers to a locked warehouse in Elko, Nevada where they were stored for sub-sampling. The sample bags were opened at the warehouse, a sub-sample of approximately 25% of the material was bagged for assay and the original sample bags were overwrapped for storage. Samples were then submitted to the ALS facility in Elko, Nevada for analysis. ALS is independent of the Company. The samples batches included 6% insertion of QA/QC samples, including blanks, duplicates, and commercially obtained standards. Both duplicates and standards ran within 4 percent of the known and duplicated values, with the blanks reporting no greater than 20 parts per million lithium.

Surge receives Regulatory Approval for Drill Site "W"

Our news release of August 29, 2023, indicated that recently completed drilling successfully intersected the known lithium clay horizons, extending the strike length of the deposit from 1,620 meters to 3,000 meters. We did not drill site "U" but applied to the BLM to replace it with drill site " W", 500 meters further north, extending the strike length of the deposit to 3,500 meters.

The BLM has approved drill site location W and it will be drilled in the coming week to conclude our 2023 summer drill program.

Mr. Greg Reimer, Chief Executive Officer, and Director commented: "Not only has NN2302 returned a significant average grade greater than our 2022 program, but it is also noteworthy in that it is an approximate 250m (820 ft) step out to the northwest of drillhole NN2205 from the 2022 program. We are eagerly awaiting assay results from holes P and V, located 300m and 1300m further north, respectively, where similar clay units were encountered during 2023 drilling and logging."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (See news release dated March 29, 2023)

The 2023 drill program is underway and is designed to expand the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. Initial assay results from the first hole of the 2023 season had a high of 8,070 ppm lithium with an average of 4,067 ppm lithium at a 1,000 ppm cut-off. (See news release dated August 13, 2023)

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone: 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Appendix 1

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181882

West Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) (the "Company" or "Surge") announces that it has engaged process consultants, Kemetco Research, Inc., of Richmond, B.C., Canada, to undertake end-to-end process testing and trials, in order to identify and test the optimum flow sheet for the Nevada North Lithium Project.

In the spring of 2022 Surge undertook mineralogical studies to develop an understanding of the type of lithium bearing clays at the Nevada North Lithium Project. In addition, acid leach test work was performed to demonstrate effective leaching of the lithium bearing clays. (See news release dated May 4, 2023)

Recognizing that further mineralogical studies would continue to be part of our project development, Kemetco has been retained to work closely with Surge director Dr. Vijay Metha. Kemetco will complete a scope of work that includes a full source-to-product bench-scale work plan, incorporating the following five steps:

• determining clay mineralogy and physical characteristics across the clay horizons and enrichment zones within those horizons;
• scoping attrition and beneficiation across multiple methods;
• leach tests across multiple parameters and equipment types;
• generation and purification of leach solutions
• precipitation and purification of a lithium carbonate or lithium hydroxide finished product.

Kemetco Research is an integrated science, technology, and innovation company which provides analysis, testing and consulting services. Kemetco has built an extensive background in lithium, conducting test studies for a range of projects and deposit types, including clay-hosted deposits.

Mr. Greg Reimer, Chief Executive Officer, and Director, commented, "Leveraging off the work performed in 2022, we are pleased to have found a very experienced partner to undertake this next laboratory trial. This work, which will be overseen by our director and senior metallurgical advisor Dr. Vijay Mehta, will further optimize the extraction methods, and advance through the refining steps that can yield a volume of high purity lithium products to demonstrate the production quality potential from our Nevada North Lithium Project."

Amendment to Option Agreement Between M3M And Surge

The Company and M3M Metals Corp. ("M3M") have entered into an amendment of their option and joint venture agreement which was disclosed in the Company's news release dated July 26, 2023. The amendment concerns a number of claims totaling approximately 800 acres in the northeastern part of the M3M property. The Company has become aware of a subsequent dispute regarding ownership of these claims.

The amendment provides that the option agreement continues to be of full force and effect with M3M being obligated to defend title to the disputed claims and pay costs associated with the defense.

The Company does not view the claims as material to the M3M Property as they are in the northeastern part and cover unfavorable Paleozoic sediments on the east and a rhyolite flow-dome complex on the west. Neither of these rock units, it is believed, are likely to host the lithium rich claystone that is the target in the main part of the Company's existing claim.

The Option Agreement and the Amendment are subject to the approval of the TSX Venture Exchange.

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high-value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (See news release dated March 29, 2023).

The 2023 drill program is underway and is designed to expand the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. Initial assay results from the first hole of the 2023 season averaged 4,067 ppm lithium at a 1,000 ppm cut-off. (See news release dated August 13, 2023).

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone : 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181326

West Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that the first certified analytical results for the 2023 summer drilling program at their Nevada North Lithium Project (NNLP) returned multiple zones of high values ranging from 1,000 ppm to 8070 ppm lithium, the highest grades for exploration to date on the NNLP.

Samples from sonic drill hole NN2301 (Drill site location R) returned positive results ranging between the 1,000 ppm cutoff to 8,070 ppm Li within 4 horizons. The composite thickness of intersected clay horizons was 140 ft (42.7m), for an overall average grade of 4,067ppm Li. This includes the highest grade and shallowest zone which begins at 27.5ft (8.39m) below surface and extends 80 ft (24.4m) and ranges from 3,090 ppm to 8,070 ppm Li, for an overall composite grade of 4,939 ppm Li (See Appendix I for interval values). The composite grade of the first clay horizon encountered in sonic hole NN2301 is 28% higher than the weighted average composite grade of the first clay horizon intersected in the reverse circulation drillholes completed by the Company in its 2022 drill program.

Composite lithium values for all four mineralized horizons, using a 1,000 ppm cutoff with no internal dilution, are shown in the following table.

Drilling for the first five holes of the 2023 campaign was completed using sonic drilling methods. The final three holes for the season are being drilled using wireline diamond core drilling techniques. The results from geophysical surveys (news release May 23, 2023) indicated another clay horizon at depth and the Company plans to deepen NN2301 with the diamond drill.

Samples from the sonic drilling were collected in plastic bags for each 2.5 feet (76.2 cm) interval in plastic bags. Surge workers at the rig retained a representative sample in chip trays and core boxes for each interval and sealed the bags with wire ties. Samples were transported by Surge workers to a locked warehouse in Elko, Nevada where they were stored for sub sampling. At the warehouse, the sample bags were opened and a subsample of approximately 25% of the material was bagged for assay and the original sample bags were overwrapped for storage. Samples were then submitted to the ALS facility in Elko, Nevada for analysis. ALS is independent of the Company. The samples batches included 6% insertion of QA/QC samples, including blanks, duplicates, and commercially obtained standards. Both duplicates and standards ran within 4 percent of the known and duplicated values, with the blanks reporting no greater than 20 parts per million lithium.

Mr. Greg Reimer, Chief Executive Officer, and Director commented, "With lithium values up to 8070 ppm we are excited with the results from our first drill hole of the 2023 season. These results confirm and improve on results from our initial 2022 reverse circulation drilling campaign. We plan on expanding on the NN2301 results with further diamond drilling and look forward to receiving and reporting these results and additional holes in the coming weeks as we complete this summer's drilling campaign."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters from drillhole NN2205 in the north to drillhole NN2208 in the south. Widths of the mineralized horizons are not well determined since the holes are mostly on a north-south alignment, however, widths are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the results of drilling and surface soils sampling, which indicate an extensive area of enrichment beyond the drilling pattern to date. Drillhole NN2207 intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 meters (395 feet) averaging 3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the strongest downhole individual sample of 5,950 ppm lithium between 45 and 50 feet (13.72 and 15.24 meters). The average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm (news release March 29, 2023).

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone : 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Appendix I

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180258

West Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) is pleased to announce that the Company has retained Kautz Environmental Consultants Inc (Kautz) to provide services relating to cultural resource impacts at Surge's Nevada North Lithium Project (NNLP).

Surge Battery Metals is underway with preparation of an exploration plan of operations and a reclamation plan for the Nevada North Lithium Project. As part of preparations of these plans, compliance with the National Historic Preservation Act (NHPA) is necessary. This legislation requires the project to account for impacts to certain cultural resource properties and assess the project's effects on those properties.

Kautz has been retained to provide a scope of services that include a preliminary review of the project and obtaining the necessary permits, a Class III field investigation and documentation of all cultural resources encountered followed up by a report documenting all archaeological sites identified and evaluating them in accordance with the NHPA.

Kautz has extensive knowledge and experience with large Class III projects in the general vicinity of the proposed NNLP project. In addition, Kautz has a team of professional archaeologists with the knowledge and expertise to complete the scope of work consistent with Surge's plan of operations project completion schedule.

Surge Extends Life Water Media Agreement

On May 4, 2023, the Company announced by news release that it had entered into a Media Services Agreement (the "Agreement) with Life Water Media dated May 1, 2023. The Agreement provided that it could be renewed or extended by the Company and Life Water Media at the end of the initial term. The Company and Life Water Media have agreed in an amendment dated today's date that the Agreement is to be extended for three (3) months for a total of US$200,000 in payment. The extension may be subject to further TSX Venture Exchange approval.

Mr. Greg Reimer, Chief Executive Officer, and Director commented "Sustainable development is a cornerstone of our values, and we are pleased to have Kautz engaged on this very important work. We look forward to working with Kautz and building relationships with local cultural communities."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project, located in the Granite Range southeast of Jackpot, about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters from drillhole NN2205 in the north to drillhole NN2208 in the south. Widths of the mineralized horizons are not well determined since the holes are mostly on a north-south alignment, however, widths are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the results of drilling and surface soils sampling, which indicate an extensive area of enrichment beyond the drilling pattern tom date. Drillhole NN2207 intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 meters (395 feet) averaging 3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the strongest downhole individual sample of 5,950 ppm lithium between 45 and 50 feet (13.72 and 15.24 meters). The average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (news release March 29, 2023)

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone : 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for CDN$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179186

West Vancouver, British Columbia--(Newsfile Corp. - August 29, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to report that the Company continues to expand the footprint of the Nevada North lithium clay deposit. Phase 2 drilling is in progress and visual inspection of each of the five holes drilled to date ("V", "P", "M", "N","R") confirms the presence of similar clay horizons discovered in the 2022 program, now over a much wider area. Drill cores are being sent to ALS labs for assay.

In this current program, drill pad locations were set out to test for extensions of the clay beds intersected in 2022 drilling where the average lithium content, within all near-surface clay zones, and applying a 1,000-part-per-million cut-off, was 3,254 parts per million (see news release dated March 29, 2023). The potential to significantly expand the area of the deposit was interpreted from the recently completed geophysical survey.

Of the eight holes planned in the current program, seven can be regarded as step-out holes from the 2022 program. Importantly, the recently completed drill hole "V", located on an assumed northwest trend, successfully intersected the known lithium clay horizons, thereby extending the strike length of the deposit from the current 1,620 meters to more than 3,000 meters. Given this result, we will not drill location "U" but have applied to the BLM to replace it with drill hole "W", 500 meters to the north of drill location "V". Drill location "Q" will remain in place to test the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. (See drilling location map below). Also, the Company may revisit other holes such as hole "R" and NN2208 for further depth in order to completely test the full extent of clay layers previously intersected it in those holes.

Leveraging off the success of the first five sonic drilled holes the Company has contracted with Alford Drilling of Elko, Nevada to diamond drill the last three holes. This will allow drilling to reach greater depths and to provide a larger core sample to support metallurgical analysis and study by our Director Dr V.J. Mehta, a world-renowned expert in lithium mining, extraction, and processing.

Mr. Greg Reimer, Chief Executive Officer, and Director commented: "I am excited to report that with five holes completed so far in the second round of drilling, and with clay layers intersected in each new hole, we can measure a dramatic increase in the overall known area of clay bearing horizons. The incorporation of diamond drilling along with the change to incorporate drill location "W", will further test the boundaries of the deposit."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.

Surge Battery Metals Phase 2 Drill Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/178695_acaaf8872491a955_001full.jpg

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project, located in the Granite Range southeast of Jackpot, about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters from drillhole NN2205 in the north to drillhole NN2208 in the south. Widths of the mineralized horizons are not well determined since the holes are mostly on a north-south alignment, however, widths are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the results of drilling and surface soils sampling, which indicate an extensive area of enrichment beyond the drilling pattern tom date. Drillhole NN2207 intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 meters (395 feet) averaging 3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the strongest downhole individual sample of 5,950 ppm lithium between 45 and 50 feet (13.72 and 15.24 meters). The average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (News release March 29, 2023)

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : [email protected]
Phone: 778-945-2656
Website: surgebatterymetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178695