Surge Battery Metals Provides Shareholder Update
Surge Battery Metals Inc.
3028 Quadra Court
Coquitlam, BC, Canada V3B 5X6
604- 428-5690
www.surgebatterymetals.com
NEWS RELEASE
Surge Battery Metals Provides Shareholder Update
October 6, 2022: Coquitlam, BC, Surge Battery Metals Inc. (the "Company" or “Surge”) (TSXV: NILI,
OTCPink: NILIF; FRA:DJ5C) would like to provide its shareholders with an update.
LETTER FROM THE PRESIDENT
TO OUR SHAREHOLDERS:
As you are no doubt aware the electric vehicle (EV) market is experiencing significant demand from
consumers. In response automakers the world over are reacting with great speed and massive
investment to overhaul production facilities in order to develop their own EV models to meet demand
from customers. This shift, from combustion engine to electric motors, has provoked unparalleled
activity in the battery manufacturing market with the follow-on effect that the metals market is
experiencing enormous demand for metals such as lithium and nickel.
In addition, the US Inflation Reduction Act of 2022 encourages, among other things, investment in
domestic renewable energy manufacturing by providing incentives for the purchase of electric
vehicles. To qualify for the incentive, a portion of the battery metals in the electric vehicle must be
extracted or processed in a country that has a free trade agreement with the United States, and
Canada has such an agreement with the United States.
The combination of all these market forces provides a unique opportunity for Surge Battery Metals
Inc to be a supplier to the battery marketplace. As a shareholder it is important to know we are
currently an active player in the search for both lithium and nickel with projects in the USA and
Canada.
Lithium Projects
The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada about 73
line-km north-northeast of Wells, Nevada. The Nevada North Lithium Project is host to a Thacker
Pass or Clayton Valley type lithium clay deposit. Results to date have been highly encouraging with
surface samples ranging up to 0.5% lithium. Drilling has recently commenced, and sample
results will be announced over the coming two months.
In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16
mineral claims, The San Emidio Project, 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 ranging up to 852 parts per million lithium (mean 365 ppm). Results from
two seven-foot-deep auger holes show lithium concentrations in the range of 143.5 to 773 ppm Li. A
geophysical exploration program is being contracted and a short drill program to test for a lithium
deposit is recommended.
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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.
Nickel Projects
The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral
claims from Nickel Rock Resources Inc. The Surge Nickel Project, Nickel North Project, consists of
two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney
Williams area of central BC; the HN4 claim covers 1863 hectares immediately south of and adjacent
to the Decar Project of FPX Nickel Corp and the Mitchell Range area to the north-east consisting of
the N100 claim group covering 8659 hectares.
This is an exploration stage project partially adjacent to FPX Nickel Corp.’s Decar Nickel Project,
which is an advanced project targeting awaruite, a nickel-iron alloy mineral. FPX Nickel Corp.
recently released the results of an internal engineering scoping study evaluating the production of
nickel sulphate for the electric vehicle (EV) battery supply chain from the high-grade awaruite nickel
concentrate to be produced by the company's Baptiste nickel project in central British Columbia. The
study highlights FPX's potential to develop the world's largest integrated nickel sulphate
production facility, linking the company directly into the EV battery supply chain via the production
of low-cost, low-carbon nickel sulphate over Baptiste's projected 35-year mine life.
Surge has completed a detailed geological mapping, soil, and rock sampling survey on our nickel
property, and we are planning further exploration this fall. We are fully funded for these fall
exploration programs
The journey ahead for Surge Battery Metals is an exciting one and I will continue to share it with you.
The above opportunities and related activities have positioned the Company well and I am pleased
that our shareholders continue to support our activities.
On Behalf of the Board of Directors
“Greg Reimer”
Greg Reimer, President & CEO
Contact Information
Email: [email protected]
Phone: 604-428-5690
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 that 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 mineral 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 could cause actual results to vary materially from
forward‐looking statements.