Surge Battery Metals Announces $1.25M Private Placement
Surge Battery Metals Inc.
3028 Quadra Court
Coquitlam, BC, Canada V3B 5X6
778-945-2656
www.surgebatterymetals.com
Surge Battery Metals Announces $1.25M Private Placement
Thursday, April 6, 2023 : Coquitlam, BC; Surge Battery Metals Inc. (the “ Company” or “ Surge”)
(TSXV: NILI, OTCPink: NILIF, FRA: DJ5C) is pleased to announce that it intends to complete a non -
brokered private placement financing of 6,250,000 units at $0.20 per unit (“Unit”) raising gross
proceeds of $1,250,000, subject to TSX Venture Exchange (“Exchange”) approval.
Each Unit is comprised of one common share and one share purchase warrant (“Warrant”). Each
Warrant will entitle the holder thereof to purchase one additional common share of the Company at
an exercise price of $0.24 per share for a period of five years from closing.
The proceeds of the Private Placement will be used for advancement and development of the
Company’s existing Nevada Lithium projects and for general working capital purposes.
All securities issued in connection with the private placement are subject to a four month and a day
hold period in accordance with applicable Securities Laws.
About Surge Battery Metals Inc. surgebatterymetals.com
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-
iron alloy in British Columbia and 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.
Nevada Lithium Projects
The Company owns a 100% interest in 225 mineral claims located in Elko County, Nevada. The
Nevada North Lithium Project is in the Granite Range southeast of Jackpot, Nevada, about 73 km
north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous
sediments of the Jarbidge Rhyolite package.
In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16
mineral claims, comprising 640 acres located within Nevada's San Emidio Desert, known as the Galt
Property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples
collected for chemical analysis at ALS Geochemistry in Vancouver, B.C. Results of aqua regia leaching
of the samples show 68 to 852 parts per million lithium (mean 365 ppm), 5.3 to 201 ppm cesium
(mean 72 ppm) and 35 to 377 ppm rubidium (mean 180 ppm). Results from two seven -foot-deep
auger holes show lithium, cesium, and rubidium concentrations in the range of 143.5 to 773 ppm Li,
56.8 to 102.5 ppm Cs and 155 to 272 Rb.
Finally, the Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh
Project located in Mineral County, Nevada. The property is in an active region for both lithium
exploration and production.
2
Nickel Projects, Northern BC
The Company has optioned an 80% interest in certain mineral claims from Grid Battery Metals Inc.
(formerly “Nickel Rock Resources Inc.") The Project (The Surge Nickel Project) consists of two non -
contiguous mineral claims groups consisting of 6 mineral claim blocks located in northern British
Columbia. One claim in the Mount Sidney Williams area (claim HN4), covers 1863 hectares
immediately south of and adjacent to the Decar Project, currently being advanced by FPX Resources,
and 5 claims in the Mitchell Range area, northeast of Decar, (N100 Group) covering 8659 hectares.
Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims
of the N100 claim group). Both projects target the nickel -iron alloy mineral “Awaruite”, hosted by
serpentinized intrusive rocks of the Trembleur Ultramafic Uniton Behalf of the Board of Directors.
The Company has entered into a further Option Agreement with Grid Battery Metals to acquire the
remaining 20% interest on certain mineral claims in the HN4 and N100 Surge Nickel Project, which
transaction is subject to TSX Venture Exchange approval.
“Greg Reimer”
Greg Reimer, President & CEO
Contact Information
Email: [email protected]
Phone: 778-945-2656
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 news release
may contain forward‐looking statements which include, but are not limited to, comments tha t involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of m ineral property titles, availability of funds, and others are forward‐looking. Forward‐looking
statements are not guaranteeing future performance and actual results may vary materially from those
statements. General business conditions are factors that cou ld cause actual results to vary materially from
forward‐looking statements.