Surge Battery Metals Provides Update to Shareholders
Surge Battery Metals Provides Update to
Shareholders
West Vancouver, British Columbia--(Newsfile Corp. - January 4, 2024) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5C) (the "
Company
" or "
Surge
") provides the following update
to Shareholders:
Update from the President
This past year has certainly been a very successful one for Surge Battery Metals at our high-grade, near
surface lithium claystone discovery at our Nevada North Lithium Project (NNLP). During this time, we
have gone from publishing our highly encouraging 2022 drilling results to executing another successful
drilling season in 2023. These programs set the groundwork for filing our permit application for our
Exploration Plan of Operations - a major milestone event.
I would be remiss to talk about 2023 without mentioning the deterioration of the lithium carbonate spot
price during the year. Share prices of lithium companies have suffered across the board and while there
has been volatility in our share price, our year over year performance is strong. I am very optimistic that
lithium prices will rebound to better reflect what we believe will be a looming demand/supply imbalance
in the future.
In fact, industry forecasters have repeatedly underscored the massive investments needed to meet the
consumer demand for EVs. This is compounded by the very ambitious targets set by governments and
some of the largest automakers for assuring the mass adoption of EVs. In addition, US government
efforts to incentivize EV purchases and the build-out of a secure domestic mine-to-battery supply chain
will have a significant influence on domestic lithium supply and demand.
With all of these tailwinds working in Surge's favour a unique opportunity is emerging to become a
supplier to the "Made in America" lithium battery marketplace in just a few short years. Our discovery at
NNLP continues to return high grades which are at or near surface.
Going forward, I am confident that the deep lithium industry experience and extensive capital markets
expertise of our Board of Directors and management team will continue to accelerate the development
of the NNLP.
All told, 2024 promises to be a breakout year for Surge with many significant developmental milestones
in the pipeline.
Q1 of 2024 is expected to see the completion of our maiden Mineral Resource Estimate -- something
that investors and markets alike are keenly awaiting. In addition, a Q1 highlight is expected to be the
completion of the test work being led by our Board member Dr. Vijay Metha (who benefits from over 50
years' experience in the lithium industry) to fully optimize lithium recovery in the NNLP flow sheet.
Moving into the spring and summer, we will be applying to reclaim some of our 5-acre disturbance limit.
With this, our 2024 drill program is expected to continue to expand the knowledge of our lithium clay
discovery.
Additionally, we will be working closely with the Bureau of Land Management (BLM) on our Exploration
Plan of Operations permit application throughout 2024. Once approved, the plan is expected to provide
for up to 250 acres of disturbance, compared with the currently authorized five acres. This major
permitting milestone is expected to allow for in-fill drilling to further define the current mineral resource
area and also allow for the possible expansion of the known discovery area.
Our final planned milestone catalyst of the year will be the completion of a Preliminary Economic
Assessment to confirm the potential economic viability of NNLP.
Thank you for your continued support. As you can see, 2024 will be a very active year for Surge as we
advance the NNLP as quickly as possible.
Greg Reimer
President, CEO and Director
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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