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Surge Copper Corp
Symbol SURG
Shares Issued 89,637,581
Close 2021-01-04 C$ 0.69
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Surge Copper appoints Nilsson as CEO

2021-01-04 18:20 ET - News Release

Dr. Shane Ebert reports

SURGE COPPER APPOINTS LEIF NILSSON AS CHIEF EXECUTIVE OFFICER

Surge Copper Corp. has appointed Leif Nilsson as chief executive officer of Surge. Dr. Shane Ebert will continue as president and vice-president of exploration of the company.

Mr. Nilsson has dedicated the last 15 years to a career in mining advisory and investment banking for various Canadian and international firms, most recently serving as senior vice-president at an Australian multinational investment bank with a market-leading mining advisory practice. He has advised on many high-profile mergers and acquisition (M&A) and Canadian capital markets transactions, and has built a reputation for excellence and integrity. Mr. Nilsson holds an honours bachelor of science in physics and exploration geophysics from the University of Toronto and a master in finance from INSEAD.

Dr. Shane Ebert, president of Surge, commented: "As part of the recent rejuvenation of activity at Surge, including the addition of new board members and the acquisition of the Berg project, we set out to establish new leadership for the next phase of growth at Surge. The company requires an executive with specific skills that Leif brings to bear, and both myself and the rest of the board are very pleased to welcome Leif to the team."

Pat Glazier, chairman of Surge, commented: "I am delighted to have Leif lead the business as we advance our projects, continue to build out and develop the team, and pursue further growth initiatives. With Leif's expertise, Shane's deep knowledge and experience with the Ootsa project, and the acumen brought by the recent additions of highly experienced board and advisory team members, I am excited by what our growing team will deliver."

Mr. Nilsson commented: "I am thrilled to be joining Surge at this point in the company's trajectory. Surge controls unique and high-quality assets which form an excellent foundation to build shareholder value. The company's board and management team have the right skills and track record to deliver on our ambitions, and I look forward to collaborating with all of the company's stakeholders to build sustainable value."

The board has approved the grant of 7,965,000 options to certain employees, executives, directors and consultants of the company. The options have been granted pursuant to the company's option plan, are subject to vesting provisions, have an exercise price of 69 cents per share and expire five years from the date of grant.

About Surge Copper Corp.

The company owns a 100-per-cent interest in the Ootsa property, an advanced-stage exploration project containing the East Seel, West Seel and Ox porphyry deposits, located adjacent to the open-pit Huckleberry copper mine, owned by Imperial Metals. The Ootsa property contains pit constrained National Instrument 43-101-compliant resources of copper, gold, molybdenum and silver in the measured and indicated categories. There are two drills working at the project, with drilling focused on defining the extent of the large West Seel deposit and testing new targets along the Seel trend.

The company is also earning into a 70-per-cent interest in the Berg property from Centerra Gold. Berg is a large, advanced-stage exploration project located 28 kilometres northwest of the Ootsa deposits. Berg contains a large copper-molybdenum-silver mineralized zone with historical resources. Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits.

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