Mr. Graham Harris reports

SURGE BATTERY METALS ANNOUNCES CORPORATE NAME CHANGE TO LITHIUM X2 MINING INC.

Surge Battery Metals Inc. has proposed a corporate name change to Lithium X2 Mining Inc. and provided an update regarding its plans to pursue a Nasdaq Capital Market listing in 2027.

Corporate name change to Lithium X2 Mining Inc.

The company announces that it intends to change its corporate name from Surge Battery Metals Inc. to Lithium X2 Mining Inc., subject to receipt of all required regulatory approvals, including acceptance by the TSX Venture Exchange.

The proposed name change reflects the company's continued evolution and strategic focus on advancing its flagship Nevada North lithium project in Elko county, Nevada, toward development and potential commercial production.

There will be no consolidation of the company's issued and outstanding common shares in connection with the name change. The company anticipates that its common shares will commence trading under the new corporate name on or about Nov. 9, 2026, subject to TSX-V acceptance. The company will announce its new trading symbol and Cusip number once confirmed.

Registered shareholders will not be required to take any action in connection with the name change. Existing share certificates and direct registration statements representing common shares of Surge Battery Metals will continue to represent the same number of common shares of Lithium X2 Mining following the name change.

Nasdaq listing update

The company will continue to pursue a listing on the Nasdaq Capital Market in 2027, subject to market conditions, satisfaction of applicable listing requirements and receipt of all necessary regulatory approvals. The company remains committed to expanding its institutional investor base, enhancing trading liquidity and increasing its visibility within the investment community.

Management believes that a potential Nasdaq listing would represent an important milestone in the company's continued growth and development, providing an opportunity to broaden its investor base, increasing its exposure to U.S. institutional investors and enhancing its access to North American capital markets.

Any listing on Nasdaq will be subject to the company satisfying all applicable listing requirements and obtaining the necessary regulatory approvals. There can be no assurance that such listing will be completed within the anticipated time frame or at all.

Graham Harris, chairman of Surge Battery Metals, commented: "Our proposed name change to Lithium X2 Mining Inc. reflects the transformation of the company and our focus on developing a significant domestic lithium resource. With the continued advancement of our Nevada North lithium project, we believe the new name better represents our long-term vision and the opportunity ahead.

"This rebranding also represents an important step toward aligning the company's corporate identity with the strategic vision of our advisers, who are working closely with management to position Lithium X2 Mining Inc. for its next phase of growth. We believe their guidance and expertise will play an important role as we continue to advance our project and strengthen our presence in the North American capital markets.

"We remain focused on advancing our Nevada North lithium project while continuing to expand our reach within the investment community. Our intention to pursue a Nasdaq listing in 2027 reflects our confidence in the company's long-term potential and our commitment to broadening our institutional investor base, enhancing liquidity and creating long-term value for our shareholders."

About Surge Battery Metals Inc.

Surge Battery Metals, a 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 the development of high-grade lithium energy metals in Nevada, United States, a crucial element for powering battery electric storage and electric vehicles. With a primary listing on the TSX-V and a listing on the OTCQX Market, Surge Battery Metals is strategically positioned as a key player in advancing lithium exploration.

About Nevada North Lithium LLC

Nevada North Lithium, jointly owned by Surge Battery Metals (67.5 per cent) and Evolution Mining Ltd. (32.5 per cent), owns the Nevada North lithium project southeast of Jackpot, Nev., about 74 kilometres north-northeast of Wells, Elko county. The first four rounds of drilling at the project identified a strongly mineralized zone of lithium-bearing clays occupying a strike length of more than 4,700 metres and a known width of greater than 2,000 metres. The project's updated mineral resource estimate, filed June 30, 2026, reports a pit-constrained measured and indicated resource of 657.5 million tonnes grading 3,007 parts per million lithium, containing an estimated 10.5 million tonnes lithium carbonate equivalent, at a cut-off grade of 1,250 parts per million lithium.

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