Surge Copper Completes 2024 Field Program and Provides Corporate Update
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V: SURG
OTCQB: SRGXF
Frankfurt: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
September 26, 2024
NEWS RELEASE
Surge Copper Completes 2024 Field Program and Provides Corporate Update
September 26, 2024, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce the
successful completion of its 2024 field program at its 100%-owned Berg and Ootsa copper-
molybdenum-precious metals projects located in central British Columbia. Field crews have now
been demobilized, and with the conclusion of physical operations, the Company is ramping down
associated expenditures as it transitions into the data analysis and reporting phase.
2024 Field Program Highlights
Completed a total of 13 diamond drill holes for 5,054 metres:
o At the Berg Project, 10 holes were drilled for a total of 3,707 metres within the main
Berg deposit, with an additional 450-metre hole testing the Berg SW exploration
target.
o At the Ootsa Project, two holes were drilled for a total of 897 metres, targeting the
copper-gold porphyry zone discovered in 2022, northeast of the Seel deposit (see
January 9, 2023 press release).
All 10 holes at the Berg deposit are expected to support resource definition and conversion
of Inferred resources to higher confidence categories.
Six of the Berg deposit holes underwent downhole geotechnical testing, including Packer
tests, piezometer installations, and televiewer surveys, supporting pre-feasibility mining
studies.
Core samples will also undergo geochemical analysis and acid-base accounting test work
during the winter, supporting ARD/ML environmental baseline and pre-feasibility studies
on waste rock management.
An environmental baseline data collection program was initiated across the project area
to bolster previously completed database efforts.
A pre-feasibility level metallurgy program is ongoing and slated for completion in early
2025.
Assay results from all drill holes will be released once data are received, verified, and
interpreted.
Surge Copper Corp. 2
Leif Nilsson, Chief Executive Officer, commented: “We’re pleased with how efficiently this year’s
field program progressed. We achieved all the critical objectives, and thanks to high productivity
and favourable weather conditions, we exceeded our original drilling target. I would like to extend
my sincere gratitude to all the employees and contractors whose hard work and dedication
contributed to this successful program. We look forward to providing further updates as we
analyze the results in the coming months.”
Annual General Meeting
The Company held its Annual General Meeting on September 25, 2024. All proposed resolutions,
as described in the notice of the meeting and information circular dated August 13, 2024, were
approved by the shareholders of the Company.
Qualified Person
Dr. Shane Ebert P.Geo., is the Qualified Person for the Berg Project and the Ootsa Property as
defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 41-101")
and has approved the technical and scientific disclosure contained in this news release.
About Surge Copper Corp.
Surge Copper Corp. is a Canadian company that is advancing an emerging critical metals district
in a well-developed region of British Columbia, Canada. The Company owns a large, contiguous
mineral claim package that hosts multiple advanced porphyry deposits with pit-constrained NI 43-
101 compliant resources of copper, molybdenum, gold, and silver – metals which are critical
inputs to the low-carbon energy transition and associated electrification technologies.
The Company owns a 100% interest in the Berg Project, for which it announced a maiden PEA
in June 2023 outlining a large-scale, long-life project with a simple design and high outputs of
critical minerals located in a safe jurisdiction near world-class infrastructure. The PEA highlights
base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long-
term commodity prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and
US$1,800/oz gold. The Berg deposit contains pit-constrained 43-101 compliant resources of
copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories.
The Company also owns a 100% interest in the Ootsa Property, an advanced-stage exploration
project containing the Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry
Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit-constrained NI 43-101
compliant resources of copper, gold, molybdenum, and silver in the Measured, Indicated, and
Inferred categories.
On Behalf of the Board of Directors
“Leif Nilsson”
Chief Executive Officer
For further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 416 2978
Email: [email protected]
Surge Copper Corp. 3
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://www.surgecopper.com
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 contains forward-looking statements, which relate to future events. In some
cases, you can identify forward-looking statements by terminology such as "will", "may", "should",
"expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology.
All statements included herein, other than statements of historical fact, are forward-looking
statements, including but not limited to: the commencement of drilling at the Berg Project and the
timing thereof; the surface exploration work at the Berg Project and the timing thereof; the size
and focus of the exploration drill program at the Berg deposit; the potential for program expansion
based on initial results of the exploration drill program; the objectives of the drill hole design; the
use of proceeds from the Top-Up Offering; and the Company’s plans regarding the Berg Project
and the Ootsa Property. These statements are only predictions and involve known and unknown
risks, uncertainties, and other factors that may cause the Company’s actual results, level of
activity, performance, or achievements to be materially different from any future results, levels of
activity, performance, or achievements expressed or implied by these forward-looking statements.
Such uncertainties and risks may include, among others, actual results of the Company's
exploration activities being different than those expected by management, delays in obtaining or
failure to obtain required government or other regulatory approvals, the ability to obtain adequate
financing to conduct its planned exploration programs, inability to procure labour, equipment, and
supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the
current coronavirus pandemic, and bad weather. While these forward-looking statements, and
any assumptions upon which they are based, are made in good faith and reflect the Company's
current judgment regarding the direction of its business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections, assumptions, or other future
performance suggestions herein. Except as required by applicable law, the Company does not
intend to update any forward-looking statements to conform these statements to actual results.