Surge Battery Metals Advances 2025 Drill Program; Leverages U.S. Critical Minerals Policy
Surge Battery Metals Advances 2025 Drill
Program; Leverages U.S. Critical Minerals
Policy
West Vancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "
Company
" or "
Surge
") is pleased to provide an update
on the progress of its 2025 drilling program at the Nevada North Lithium Project ("NNLP") and to
highlight its strategic engagement with Cassidy & Associates in light of evolving U.S. federal policy
support for the domestic battery supply chain.
2025 Drill Program
Surge is currently executing a nine-hole core drill program, (See News Release dated September 4,
2025) with the objective of updating the Resource Estimate while upgrading the resource itself to the
Indicated and Measured categories. The program will collect geotechnical and hydrogeological data to
support the planned 2026 Pre-Feasibility Study (PFS). Drilling commenced in the latter part of
September and is expected to be completed by the end of October 2025.
To date 80% of the program has been completed and the Company expects the balance of the drilling to
be completed this week. Initial visual observations from the drill core are highly encouraging. The
targeted lithium-bearing claystone horizons are demonstrating excellent lateral continuity across the
project area and, in some cases, are appearing thicker than previously modeled. This provides strong
validation for our geological model as we work towards an updated resource.
PEA Results
The Company recently completed a Preliminary Economic Assessment (PEA) which confirms the strong
economic potential of the NNLP (See News Release dated July 24, 2025). Highlights include:
After-tax NPV
8%
: US$9.17 Billion, IRR of 22.8% at US$24,000/t lithium carbonate equivalent
("LCE") price
Operating cost ("OPEX"): US$5,243/t LCE
Near-surface, high-grade mineralization drives the Surge NNLP advantage
PEA mine and processing plan produces 3.6 Mt battery-grade lithium carbonate equivalent
("LCE") over the 42-year life of mine ("LOM")
Average Annual Production of 86,300 tonnes LCE
Peak Production of 109,100 tonnes LCE in Year 6
Lithium Plant will be built in two phases
Phase 1 ("P1") Capital Cost ("CAPEX"): US$2.97 Billion, Phase 2 ("P2") CAPEX: US$2.35
Billion, total of US$5.32 Billion
Sustaining Capital: US$1.51 Billion
After-tax payback: 4.6 years
Average LOM annual after-tax cash flow: US$1.06 Billion
Cassidy & Associates Engagement
To better navigate the U.S. federal policy, permitting, and funding landscape, Surge has engaged
Cassidy & Associates, a Washington, D.C.-based government relations and advocacy firm, to support
U.S. policy outreach and agency engagement (See News Release dated October 7, 2025).
Under this agreement, Cassidy & Associates will assist Surge in:
Advocating on federal funding opportunities and aligning with U.S. critical minerals strategies.
Supporting outreach to relevant federal agencies (e.g. DOE, BLM, EPA); and
Ensuring regulatory alignment as development advances.
Next Steps & Forward Strategy
Complete the 2025 drill program
Incorporate new drill data into an updated resource model and estimate
Retain engineering firm to begin PFS in 2026
Continuing metallurgical and environmental workstreams alongside stakeholder engagement
Advance PFS through 2026
Monitor and actively pursue applicable US federal funding and grant programs
Mr. Greg Reimer, Chief Executive Officer and a Director of the Company, commented
, "With the
exploration and development of the NNLP well underway, we are strategically positioning the project
within the US Critical Minerals framework. The recently finalized DOE loan and current equity
discussions with Lithium Americas demonstrates the US government's commitment to developing
domestic lithium projects. We believe Surge is well positioned to take advantage of this support and our
engagement of Cassidy & Associates strengthens our capabilities in Washington."
In addition, the Company has entered into a marketing and investor awareness agreement dated
October 17, 2025, with New Era Publishing Inc ("New Era"). Under the terms of the agreement, New Era
will provide marketing and promotional services to the Company for a period of two months in exchange
for a fee of $225,000 USD (approximately $315,000 Canadian).
New Era is a digital marketing and
media firm established in 2016 based in Vancouver, BC. New Era will provide digital marketing, email
and market awareness services and assist its clients with reaching potential investors. New Era will
further engage
www.carboncredits.com
to connect North American and European audiences to bolster
awareness of the Company through the carboncredits.com website, articles, lithium price dashboard
and e-mail newsletters. New Era and the Company are unrelated and unaffiliated entities at arm's length
of each other, and neither New Era, nor its principals have an interest, directly or indirectly, in the
securities of the Company.
Qualified Persons
Alan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the Company, and a
Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical
aspects of this news release. Mr. Morris has verified the data disclosed respecting the drill program by
reviewing all available information. There were no limitations on the verification process.
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 $5,243/t LCE.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
Director, President & CEO
Contact Information
Email:
Phone: 604-662-8184
Website:
surgebatterymetals.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or
expressions identify forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities including lithium and nickel, the accuracy of
mineral or resource exploration activity, reserves or resources, regulatory or government requirements or
approvals including approvals of title and mining rights or licenses and environmental, local community or
indigenous community approvals, the reliability of third party information, continued access to mineral
properties or infrastructure or water, changes in laws, rules and regulations including in the United
States, Nevada or California or any other jurisdiction which may impact upon the Company or its
properties or the commercial exploitation of those properties, currency risks including the exchange rate
of USD$ 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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