Surge Battery Metals to Showcase at PDAC 2024 in Toronto, Booth #2752
Surge Battery Metals to Showcase at PDAC
2024 in Toronto, Booth #2752
West Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "
Company
" or "
Surge
") a prominent player in the field of
mineral exploration and development, announces its participation in the upcoming Prospectors &
Developers Association of Canada (PDAC) Convention in Toronto. The event is scheduled to take place
from March 3 to March 6, 2024, at the Metro Toronto Convention Centre, where Surge Battery Metals will
be stationed at Booth #2752.
PDAC, recognized as the leading voice of the mineral exploration and development community, serves
as a vital platform for industry stakeholders to converge, exchange insights, and foster collaborations.
With more than 664,000 individuals employed and a substantial contribution of $132 billion to Canada's
GDP in 2021, the mineral sector remains a cornerstone of the nation's economy.
"As a key player in the mineral exploration landscape, Surge Battery Metals is thrilled to participate in
PDAC 2024," remarked Graham Harris, Chairman at Surge Battery Metals. "This convention provides
an unparalleled opportunity to engage with industry peers, showcase our latest advancements, and
contribute to the dialogue on fostering competitiveness, responsibility, and sustainability within the
sector."
With a global membership exceeding 7,000 professionals, PDAC's mandate aligns closely with Surge
Battery Metals' commitment to driving innovation while upholding environmental and social standards.
Through its involvement in PDAC 2024, Surge Battery Metals aims to reinforce its position as a forward-
thinking leader in the mineral exploration domain.
To learn more about Surge Battery Metals and explore their cutting-edge initiatives, visit Booth #2752 at
PDAC 2024.
Reduction of Number of Stock Options Announced December 12, 2023
On December 12, 2023, the Company announced that it had granted a total of 2,100,000 incentive stock
options (the "December Options"), under its equity incentive plan (the "Plan"), exercisable for a period of
five years at an exercise price of $0.52 per share.
The December Options were granted to certain
directors, officers and consultants (collectively, the "Optionholders").
Subsequent to December 12, 2023, the Company became aware that the grant of the December
Options exceeded the number of incentive stock options available under the Plan by a total of 1,196,317
options.
As a result, the Company has agreed with the Optionholders, effective December 13, 2023, to reduce
the number of the December Options for each Optionholder by fifty-seven (57%).
This leaves 903,000 of
the December Options (the "Remaining Options") available for grant in place of the originally announced
2,100,000 December Options.
The Remaining Options have a term expiring five years from the original date of grant, December 12,
2023, and have an exercise price of $0.52 per share, both as originally contemplated.
About Surge Battery Metals Inc.
The Company is a Canadian-based mineral exploration company active in the exploration for lithium in
Nevada whose primary listing is on the TSX Venture Exchange in Canada and the OTCQX Market in the
US. The Company's maintains a focus on exploration for high value battery metals required for the
electric vehicle (EV) market.
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 round of drilling,
completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a
strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters,
supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in
extent. The potential for a significant lithium deposit can be illustrated by the average lithium content
within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254
ppm.
Initial assay results from the first hole of the 2023 season (NN2301) had a high of 8070 ppm lithium with
an average of 4,067 ppm lithium at a 1,000-ppm cut-off (See news release September 12, 2023). The
2023 drill program expanded the known lithium-rich clay from the current 1,620 meters strike length to
more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-
indicated 400 meters. The 2023 drill program is now completed with all assays received. We will use the
winter season to produce a maiden Mineral Resource Estimate, complete additional metallurgical
studies, and prepare for additional exploration of the property in the spring.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/199735