Agm Held ON July 19, 2023
Surge Battery Metals Inc.
300-1455 Bellevue Avenue
West Vancouver, BC, Canada
V7T 1C3
778-945-2656
www.surgebatterymetals.com
AGM HELD ON JULY 19, 2023
July 24, 2023: West Vancouver, BC; Surge Battery Metals Inc. (the “ Company” or “ Surge”) (TSXV:
NILI, OTC: NILIF, FRA: DJ5C)
The Company is pleased to announce that at the Company's 2023 AGM held on July 19, 2023 (the
"AGM"), Dr. Vijay Mehta, Greg Reimer, Graham Harris, Iain Scarr and Ted O'Connor were elected as
directors of the Company for the ensuing year. The election of Dr. Mehta came after the resignation
of Robert Culbert from the Board of Directors which resignation was announced by the Company on
July 13, 2023. Mr. Culbert's resignation occurred after the mailing of the Company's management
information circular for the AGM.
As well, at the AGM shareholders approved the Company's proposed new omnib us security based
compensation plan (the "New Plan"). The New Plan provides for the grant of up to that number of
incentive stock options, on a "rolling" basis, which is equal to five (5%) percent of the issued and
outstanding shares at the time of the gr ant. The New Plan also provides for the issuance of up to
7,109,000 restricted share units (the "RSUs") and 7,109,000 performance share units (the "PSUs").
No PSUs or RSUs have been granted by the Company. Those previously announced and still
outstanding incentive stock options of the Company granted under the Company's previous security
based compensation plan (the "Previous Stock Option Plan") are continued under the New Plan.
There are a total of 7,100,000 incentive stock options of the Company outstanding as of today's date.
The New Plan, effective on July 19, 2023, replaced the Company's Previous Stock Option Plan. The
New Plan is subject to the final approval of the Exchange. A copy of the New Plan was attached to the
Company's Management Informa tion Circular for the AGM and can be found by accessing the
Company's Issuer Profile on sedar.com and reviewing the Company's June 22, 2023 filing of its
management information circular.
About Surge Battery Metals Inc.
The Company is a Canadian-based mineral exploration company active in the exploration for lithium
in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus
on exploration for high value battery metals required for the electric vehicle (EV) market.
About the Nevada North Lithium Project
The Company owns a 100% interest, without any royalties, in the Nevada North Lithium
Project, consisting of 243 mineral claims, located in the Granite Range southeast of Jackpot, about
73 km north -northeast of Wells, Elko County, Nevada. The first round of drilling, completed in
October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike
length of almost 1,620 meters from drillhole NN2205 in the north to drill hole NN2208 in the south.
Widths of the mineralized horizons are not well determined since t he holes are mostly on a north -
south alignment, however, widths are at least 400 metres, supported by highly anomalous soil values
indicating potential for the clay horizons to be much greater in extent. The potential for a significant
lithium deposit can be illustrated by the results of drillhole NN2207 which intersected the thickest
intervals of lithium-rich claystone encountered to date; a total of 120.4 metres (395 feet) averaging
2
3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the s trongest downhole
individual sample of 5,950 ppm lithium between 45 and 50 feet (13.72 and 15.24 metres). The
average lithium content within all near surface clay zones intersected in 2022 drilling,
applying a 1000 ppm cut-off, was 3254 ppm.
Qualified Person as Defined Under National Instrument 43-101
Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under Nation al
Instrument 43-101 has reviewed and approved the technical aspects of this news release.
On behalf of the Board of Directors
“Greg Reimer”
Greg Reimer,
President & CEO
Contact Information
Email: [email protected]
Phone: 778-945-2656
Website: surgebatterymetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as tha t 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 expl oration activity, reserves or resources, 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 info rmation, 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 C ompany’s current views with respect to future
events and are necessarily based upon a number of 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.