Surge Announces Letter of Intent for Long Term Access to Private Land Holdings and a MOU Concerning Water Rights
Surge Announces Letter of Intent for Long
Term Access to Private Land Holdings and a
MOU Concerning Water Rights
West Vancouver, British Columbia--(Newsfile Corp. - September 2, 2025) - Surge Battery Metals
Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5C) (the "
Company
" or "
Surge
") is pleased to report that it
has executed a non-binding letter of intent (LOI) with the Salmon River Cattlemens Association, Inc
(SRCA) to enter into good faith negotiations to conclude agreements:
regarding the grant to Surge of long-term access for mineral property exploration and commercial
mining production on those lands which the SRCA owns the surface rights, and which Surge has
certain sub-surface and mineral rights.
regarding the execution of a MOU concerning water rights and water resources, including the
withdrawal of SRCA's protest to Surge's water right applications to the Nevada State Engineer.
to develop a Monitoring, Management and Mitigation Plan as related to water resources on the
Lands as well as the surrounding SRCA grazing allotment that will be impacted by Surge's
commercial mining activities.
to develop an Agreement for mitigating impacts that will be created by Surge's commercial mining
activities to forage and/or grazing on the Lands as well as SRCA grazing allotment.
Mr. Greg Reimer, Chief Executive Officer and Director, commented, "
Over the past two years we
have engaged in dialogue with the SRCA and are pleased to have agreed on a path forward to
negotiate these important agreements for the future development of the Northern Nevada Lithium
Project. We look forward to continuing to work with the SRCA to conclude these agreements and
develop the project."
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, USA, a crucial
element
for powering electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the
OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in
advancing lithium exploration.
About the Nevada North Lithium Project
The Company owns the Nevada North Lithium Project located in the Granite Range southeast of
Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first three rounds of
drilling, completed in 2022, 2023, and 2024, identified a strongly mineralized zone of lithium bearing
clays occupying a strike length of more than 4,300 meters and a known width of greater than 1500
meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay
horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur
during infill drilling. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing
an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,955 ppm Li at a 1,250 ppm
cutoff. The recently completed PEA reported an after-tax NPV
8%
US $9.17 Billion and after-tax IRR of
22.8% at $24,000/ t LCE and an OPEX of US $5,243/t LCE.
On behalf of the Board of Directors,
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email :
Phone : 778-945-2656
Website:
surgebatterymetals.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or
expressions identify forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities including lithium and nickel, the accuracy of
mineral or resource exploration activity, reserves or resources, the accuracy of cash flow forecasts,
projected capital and operating costs, metal processing recoveries, mine life, production rates,
regulatory or government requirements or approvals including approvals of title and mining rights or
licenses and environmental, local community or indigenous community approvals, the reliability of third
party information, continued access to mineral properties or infrastructure or water, changes in laws,
rules and regulations including in the United States, Nevada or California or any other jurisdiction which
may impact upon the Company or its properties or the commercial exploitation of those properties,
currency risks including the exchange rate of USD$ 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 Company's current views with respect to future events and are necessarily based upon
several 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.
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