Surge Copper Has Arranged a $150,000 Non-Brokered Private Placement
S U R G E
C O P P E R C O R P
SURGE COPPER HAS ARRANGED A $150,000 NON-BROKERED PRIVATE PLACEMENT
July 11, 2018, Vancouver, British Columbia – Surge Copper Corp. (the “Company” or “Surge
Copper”) (TSX -V:SURG), is pleased to announce that the Company has arranged a non -
brokered private placement of up to 1,500,000 units at a price of $0.1 0 per unit for gross
proceeds of $ 150,000. Each unit consists of one common share of the Company and one
common share purchase warrant. Each warrant will entitle the holder to acquire an additional
common share of the Company at an exercise price of $0.1 8 per share for a period of 3 years
from the closing date of the private placement.
The proceeds of the private placement will be used for the purpose of carrying out the
exploration programs on the Company’s British Columbia property and for general working
capital.
The financing is subject to TSX Venture Exchange approval.
About Surge Copper Corp.
The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project
containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit
Huckleberry copper mine. The property contains NI 43 -101 compliant resources of 224 million
tonnes in the Measured and Indicated categories with contained metals of 1.1 billion pounds of
copper and 1 million ounces of gold as summarized in the table below.
Ootsa Project Pit Constrained Mineral Resource Estimate at $8.50/t NSR Cut-off Value
Category Tonnes
(‘000’s)
CuEq
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
CuEq
M lbs
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.38 0.23 0.15 0.021 2.8 1,568 934 916 85 17,089
Indicated 37,041 0.35 0.21 0.12 0.023 2.8 286 175 146 19 3,368
M&I 224,189 0.37 0.22 0.15 0.021 2.8 1,854 1,109 1,062 104 20,457
On February 9, 2016, the Company announced a positive Preliminary Economic Assessment
(PEA) for the Ootsa Property with potential for low capital cost, low risk and rapid pay back
utilizing existing infrastructure in the district with a contract mining and toll milling scenario.
The study recommends the Company continue to advance the Ootsa Project with extended and
advanced technical studies with the intention of moving the project toward a production decision.
The current technical report supporting the resource statement and PEA is available on SEDAR or the Company’s
website at www.surgecopper.com and has an effective date of January 2016. The resource estimate uses $8.50 per
tonne NSR cut-off value. Mineral resources are not mineral reserves and by definition do not demonstrate economic
viability. There is no certainty that all or any part of the mineral resource will be converted i nto mineral reserves. A
‘Measured Mineral Resource’ is that part of a mineral resource for which quantity, grade or quality, densities,
shape and physical characteristics are so well established that they can be estimated with confidence sufficient to
allow the appropriate application of technical and economic parameters, to support production planning and
evaluation of the economic viability of the deposit. An ‘Indicated Mineral Resource’ is that part of a Mineral
Resource for which quantity, grade o r quality, densities, shape and physical characteristics can be estimated with a
level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support
mine planning and evaluation of the economic viability of the deposit. Copper Equivalent (CuEq) calculations are
based on base case metal price (US$3/lb Cu, US$1260/oz Au, US$10.30/lb Mo, and US$17/oz Ag) and process
recovery assumptions, and take into account smelter payable rates and refining costs. M&I = mea sured and
indicated. The resource update and Preliminary Economic Assessment was completed by P&E Mining Consultants
Inc. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Dr. Shane Ebert P.Geo. , is the Qualified Person for the Ootsa project as defined by National
Instrument 43-101 and has approved the technical disclosure contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Shane Ebert”
President and Chief Executive Officer
For Further information, please contact:
Telephone: 604-718-5454
Toll Free: 888-500-4587
http://www.surgecopper.com
Or
Don Mosher
Corporate Development
Telephone: 604-685-6465
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. 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 or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basi s,
equipment breakdown 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 al most always vary, sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggests 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.