10:16:35 EDT Fri 10 May 2024
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Surge Battery Metals Inc
Symbol NILI
Shares Issued 161,073,658
Close 2024-04-03 C$ 0.445
Market Cap C$ 71,677,778
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Surge Battery concludes exploration agreement with SRCA

2024-04-04 11:46 ET - News Release

Mr. Greg Reimer reports

SURGE ANNOUNCES AGREEMENT WITH PRIVATE SURFACE LAND HOLDERS AND OUTLINES 2024 DRILL PLAN

Surge Battery Metals Inc. has concluded an entry and exploration agreement with the Salmon River Cattlemen's Association (SRCA).

The agreement with the SRCA extends permission for Surge to commence drilling and other surface use on the parcels of SRCA private ground where Surge already holds fractional (25 per cent) ownership of the subsurface mineral rights (see news release of Dec. 7, 2023).

Surge intends to drill four reverse circulation holes on the SRCA parcels to test extensions of high-grade lithium mineralization outlined in previous Surge drilling to the north of the private parcel and high-grade soil geochemistry (greater than 1,000 parts per million Li).

Surge also intends to drill another four holes on claims held by Surge as well as claims with its joint venture partner M3 Metals Corp. The drill site are tentative with the actual locations to be determined by ground conditions, avoidance of sensitive areas on the private parcels, and permitting approval by the Bureau of Land Management on the M3 and Surge claims.

Drilling is scheduled to start by the end of May, 2024.

Two thousand twenty-four drilling at the Nevada North lithium project (NNLP) will test for lithium mineralization one kilometre to the west and up to a 1.2 km to the south of the 2024 maiden resource area (see news release of Feb. 22, 2024). Drilling is designed to expand and better define the footprint of lithium clay mineralization at the NNLP prior to infill drilling in 2025.

Greg Reimer, chief executive officer and director, commented: "We are happy to have come to an agreement with the Salmon River Cattleman's Association and look forward to actively working together as we advance the NNLP project. Our 2024 program will be bold and will take big step outs to the west and south, growing the mineralization footprint as much as possible prior to our 2025 exploration program."

Qualified person as defined under National Instrument 43-101

Alan J. Morris, MSc, CPG, of Spring Creek, Nev., 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.

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, United States. Lithium is a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the U.S., Surge Battery Metals is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry.

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