Surge Copper Has Closed $124,550.00 Non-Brokered Private Placement
S U R G E
C O P P E R C O R P
SURGE COPPER HAS CLOSED $124,550.00 NON-BROKERED PRIVATE PLACEMENT
May 9, 2019, Vancouver, British Columbia – Surge Copper Corp. (the “Company” or “Surge
Copper”) (TSX-V:SURG), announces it has closed the non-brokered private placement announced
March 18, 2019 and April 22, 2019 consisting of 1,779,286 units (“Units”) at a price of $0.07 per
Unit raising gross proceeds of $124,550. Each Unit is comprised of one common share and one
share purchase warrant. Each Warrant entitles the holder to purchase one common share of the
Company for 36 months at an exercise price of $0.10 per share after the closing date of the private
placement. The proceeds of the private placement will be used for general working capital.
All securities issued in conjunction with this private placement are subject to a hold period
expiring four months plus a day after the date of their issuance.
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 or 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 = measured 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, performan ce, 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 basis, 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
almost always vary, sometimes materially, from any estimates, predictions, proje ctions, 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.