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Surge Battery Metals Inc. (TSXV: NILI,OTC:NILIF) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce it is preparing to mobilize for a core drilling program at its Nevada North Lithium Project. This 9-hole program is a critical step in the project's advancement and will provide essential data for a future Pre-Feasibility Study (PFS).
In conjunction with the fall drill program, the Company has signed a new Right of Entry and Exploration Agreement for 2025 with the Salmon River Cattlemens Association ("SRCA"). This agreement secures access to drill five of the nine planned holes located on private surface lands owned by the SRCA. The remaining four holes will be completed on adjacent public lands administered by the Bureau of Land Management for which Surge expects approval of its Work Plan soon.
Mr. Greg Reimer, Chief Executive Officer and Director of the Company, commented, "We are excited to get the drills turning again at Nevada North for this highly strategic program. Finalizing this fall's program directly facilitates the work that will underpin our future PFS. Our primary goal is to significantly upgrade the confidence in our existing mineral resource which is a major value-driver and de-risking milestone on our path to becoming a domestic supplier of battery-grade lithium."
2025 Drilling Program Highlights:
- Targeted Core Drilling: The program will consist of nine (9) core holes totaling approximately 4,500 feet (1,370 meters). The holes are designed to average 500 feet in depth to intercept all three of the upper, high-grade lithium clay horizons.
- Significant Resource Upgrade: A primary objective is to convert the majority of the project's current Inferred Mineral Resource to the Indicated category, with the potential to upgrade a substantial portion (up to or exceeding 40%) to the Measured category.
- Key PFS Data Collection: The program is engineered to be multi-purpose, providing essential data beyond assays. This includes:
- Geotechnical Data: Core samples for pit slope and mine design analysis.
- Hydrogeological Data: Packer testing and installation of Vibrating Wire Piezometers to characterize groundwater conditions, critical for permitting and project design.
The drilling program is scheduled to begin in early September and is expected to be completed by the end of October 2025.
Qualified Person:
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.
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About Surge Battery Metals Inc.
Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration.
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 three rounds of drilling, completed in 2022, 2023, and 2024, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1500 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,955 ppm Li at a 1,250 ppm cutoff. The recently completed PEA reported an after-tax NPV8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/ t LCE and an OPEX of US $5,243/t LCE.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email : info@surgebatterymetals.com
Phone : 604-662-8184
Website: surgebatterymetals.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, the accuracy of cash flow forecasts, projected capital and operating costs, metal processing recoveries, mine life, production rates, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ 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.
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