Mr. Leif Nilsson reports

SURGE COPPER COMMENCES ENVIRONMENTAL ASSESSMENT PROCESS FOR BERG COPPER PROJECT

The initial project description (IPD) for Surge Copper Corp.'s 100-per-cent-owned Berg copper project, located in central British Columbia, has been accepted by the British Columbia Environmental Assessment Office (EAO) and the Impact Assessment Agency of Canada (IAAC). The company submitted the IPD on Sept. 9, 2026. Its acceptance formally commences the early engagement phase of the provincial environmental assessment process and the planning phase of the federal impact assessment process.

Leif Nilsson, chief executive officer, commented: "Acceptance of the IPD represents an important milestone for Berg and formally moves the project into the environmental assessment process. A significant amount of technical, environmental and engagement work has been undertaken to prepare for this stage, and I would like to acknowledge the contributions of Wet'suwet'en Hereditary Chiefs, staff at the Office of the Wet'suwet'en, the elected chiefs and councils of Witset First Nation, Wet'suwet'en First Nation, Nee Tahi Buhn Indian Band, Skin Tyee First Nation and Cheslatta Carrier Nation, our government counterparts, and the many members of the Surge team and our consultants who have contributed to that work. Berg is entering environmental assessment from a strong technical foundation following completion of the PFS [prefeasibility study] earlier this year, while substantial environmental baseline, engineering and engagement programs continue. We look forward to working collaboratively with first nations, local communities, regulators and other participants as the project progresses through this next stage."

Jennifer Anthony, vice-president, environment and regulatory affairs, commented: "Acceptance of the IPD within a short time period of submission reflects the substantial engagement and early collaboration undertaken with first nations, regulators and our technical teams ahead of entering the assessment process, and federal and provincial governments putting into practice their commitment to efficient processes. The next stages will provide a structured forum to continue that work, identify key issues, and further refine the studies and information required to support assessment of the project."

Chief Casbit, as supported by the Office of the Wet'suwet'en, indicated, "Thin House of the Gilseyhu clan welcome the opportunity to collaborate and participate meaningfully in the assessment of the Berg copper project and to ensure Wet'suwet'en knowledge, values and governance are reflected in the process."

Surge has been working with Wet'suwet'en Hereditary Chiefs, supported by the Office of the Wet'suwet'en (OW), as well as the elected chiefs and councils of Witset First Nation, Wet'suwet'en First Nation, Nee Tahi Buhn Indian Band, Skin Tyee First Nation and Cheslatta Carrier Nation in preparation for the environmental assessment process. In parallel with the provincial and federal processes, OW is supporting participating Wet'suwet'en Hereditary Chiefs in the development of a first-nation-led assessment process intended to incorporate Wet'suwet'en hereditary governance, values and decision making into the assessment of the project. Surge also continues to advance discussions regarding capacity and resourcing across all communities to support meaningful first nations participation throughout the assessment process.

During the early engagement and planning phases, the EAO and IAAC will engage with first nations, government agencies, local communities, the public and other participants to identify key issues and information requirements for subsequent stages of assessment. Surge will continue its environmental baseline programs and feasibility-level technical work in parallel with the assessment process, including continuing evaluation of tailings and waste management alternatives.

The company also intends to support a co-ordinated provincial and federal assessment process, including through the potential substitution of the federal impact assessment process to British Columbia, subject to the applicable regulatory processes and government decisions.

About the Berg copper project

Berg is a large-scale copper-molybdenum-silver-gold development project located in central British Columbia. In June, 2026, Surge completed a prefeasibility study for the project outlining a 120,000-tonne-per-day conventional open-pit mining and processing operation with an approximately 28-year mine life, an after-tax net present value (discounted at 8 per cent) of $4.6-billion and an after-tax internal rate of return of 24 per cent.

Full results of the prefeasibility study, including economic assumptions, sensitivities, mineral reserve estimates and other technical information, are available in the company's June 15, 2026, news release and the related technical report filed under the company's profile on SEDAR+ and available on the company's website.

Qualified person

Dr. Shane Ebert, PGeo, is the qualified person (as defined by National Instrument 43-101) for the Berg copper project and the Ootsa project and has approved the technical disclosure contained in this news release. Dr. Ebert is an officer and a director of Surge and is not independent of the company.

About Surge Copper Corp.

Surge Copper is a Canadian resource company advancing one of British Columbia's emerging copper districts. The company's 100-per-cent-owned Berg copper project hosts a large-scale copper-molybdenum-silver-gold deposit in central British Columbia supported by a prefeasibility study and mineral reserve estimate that define a development pathway for a long-life copper project with significant molybdenum, silver and gold byproduct production.

In addition to the Berg deposit, Surge controls a large, contiguous mineral claim package that includes multiple advanced porphyry deposits, including the Ox and Seel deposits adjacent to the past-producing Huckleberry mine. Collectively, the company's assets position Surge as a potential long-term contributor to Canada's critical minerals strategy through the responsible development of copper, molybdenum and associated metals.

Surge is committed to advancing its projects through early engagement and collaboration with first nations and local communities, with a focus on transparent communication, relationship building and respectful, constructive dialogue.

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