Surge Copper Highlights Strengthening Policy Environment for Critical Minerals Development in Canada Company welcomes measures in Budget 2025 and new infrastructure investments supporting Canada’s Critical Minerals Strategy
Surge Copper Corp.
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PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V: SURG
OTCQB: SRGXF
FRA: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
November 10, 2025
NEWS RELEASE
Surge Copper Highlights Strengthening Policy Environment for Critical Minerals
Development in Canada
Company welcomes measures in Budget 2025 and new infrastructure investments
supporting Canada’s Critical Minerals Strategy
November 10, 2025 – Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) provides its perspective
on recent policy and infrastructure develo pments that strengthen Canada’s critical
minerals framework and investment climate. Th ese initiatives, spanning fiscal incentives
announced in the 2025 Federal Budget, the launch of the G7 Critical Minerals Alliance, and
provincial investments in transmission infras tructure in British Columbia, highlight the
evolving landscape for responsible development of projects such as the Company’s 100%-
owned Berg copper-molybdenum project in west-central British Columbia.
Federal Budget 2025: Expanded Support for Critical Minerals
The Government of Canada’s 2025 Federal Bu dget introduced several measures that
reinforce national competitiveness in critical minerals development. Key initiatives include:
Expansion of the Clean Technology Manufacturing Investment Tax Credit
(CTMITC): Budget 2025 confirms the federal government’s intention to proceed with
previously announced measures to exp and eligibility under this 30 percent
refundable tax credit (which can eliminate a company’s income tax payable in a given
year and provide a cash refund for any remaining balance ), including the addition of
new critical minerals and support for poly metallic mining and processing activities.
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Once implemented, these measures coul d meaningfully expand access to this
important fiscal incentive for projects such as Berg, where the majority of production
by value is anticipated to come from copper.
Extension and expansion of the Critic al Minerals Exploration Tax Credit: Budget
2025 broadens eligibility for this flow -through-share incentive to include
molybdenum and other transition metals, reflecting the federal government’s
recognition of their importance in high-performance steel and industrial,
technological, and energy applications . Molybdenum represents a significant
component of the Berg resource and a key value driver for the project.
Creation of new federal investment vehicles: Budget 2025 outlines new and
expanded federally funded investment vehicles, including the Critical Minerals
Sovereign Fund and the First and Last Mile Fund, aimed at providing direct equity and
infrastructure support to qualifying projects.
Enhanced coordination of federa l project financing initiatives: Budget 2025
introduces a new framework to align Canada’s major project financing institutions,
including the Major Projects Office, Cana da Infrastructure Bank, Canada Growth
Fund, Export Development Canada, and the Canada Indigenous Loan Guarantee
Corporation. The initiative is designed to streamline access to capital and coordinate
support for “nation-building” projects that advance clean growth, economic
competitiveness, and Indigenous participat ion. This integrated approach aims to
accelerate the development of large-scale strategic projects across Canada’s
resource and infrastructure sectors.
Collectively, these measures may influence th e economic framework for Canadian critical
minerals projects and provide potential incentives for advanced development projects such
as Berg.
G7 Critical Minerals Alliance: Global Demand Alignment
Canada’s leadership role in the newly established G7 Critical Minerals Alliance underscores
an international commitment to developing secure, transparent, and standards-based
supply chains for materials essential to mode rn industrial, technological, and energy
systems. Surge believes this framework wi ll encourage long-term cooperation between
allied nations and may support diversified an d transparent supply chains for responsibly
produced critical minerals, including copper and molybdenum concentrates.
As a potential future producer of copper an d molybdenum concentrat es with no offtake
agreements yet in place, Berg offers flexibility to supply either domestic processors or allied
markets, aligning with Canada’s goal of divers ifying exports beyond the United States and
strengthening trusted supply chains.
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British Columbia: Enabling Infrastructure and Investment Climate
Complementing federal and international initia tives, the Government of British Columbia
has advanced the North Coast Transmission Line (NCTL), a multi-phase transmission
project intended to expand grid capacity in the northwest of the province to support growth
in sectors such as ports, mining, and LNG. Under Bill 31 ( Energy Statutes Amendment Act,
2025), the Province is fast-tracking the proj ect by amending legislation to allow co-
ownership with First Nations, streamline perm itting, and adjust the electricity-allocation
framework such that connection priority is given to vital growth industries (including mining
and resource development) rather than the typical first-come, first-served basis.
Construction is expected to begin in 2026 wi th phased in-service dates targeted around
2030.
While the Berg Project does not strictly depe nd on the NCTL for its power connection, the
initiative creates important flexibility in a regi on where demand for industrial electricity is
rapidly escalating. It reflects the govern ment’s proactive recognition of potential
infrastructure bottlenecks and its willingne ss to act in advance to unlock resource
development.
Positioning of the Berg Project
With these converging policy developments, Be rg is well aligned with current federal and
provincial initiatives supporting critical mine rals development. The project’s large-scale
copper and molybdenum resource, favourable logistics, and low-carbon, hydro-powered
design align directly with national and inte rnational priorities for responsible resource
development.
“Recent policy developments, including Budg et 2025 measures and federal and provincial
infrastructure initiatives, highlight Canada’s efforts to strengthen its critical minerals sector,”
said Leif Nilsson, CEO of Surge. “Projects such as Berg illustrate how these policy measures
could create opportunities for advancing critical minerals development in Canada through
coordinated efforts among industry, government, and Indigenous partners.”
About Surge Copper Corp.
Surge Copper Corp. is a Canadian resource co mpany advancing one of British Columbia’s
emerging mineral districts. The Company’s 100%-owned Berg Project hosts a large-scale
copper and molybdenum deposit with strong de velopment potential in a safe jurisdiction
supported by establish infrastructure. A 2023 Preliminary Economic Assessment outlined a
long-life project producing essential metals fo r industrial and energy systems. Surge is
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advancing a Prefeasibility Study on the Berg Project to further define its technical and
economic development potential.
In addition to Berg, Surge controls a large, contiguous mineral claim package that includes
multiple advanced porphyry deposits, includin g the Ootsa Property adjacent to the past-
producing Huckleberry Mine. The Company’s projects collectively position Surge as a future
contributor to Canada’s critical minerals strategy through th e responsible development of
copper, molybdenum, and associated metals.
For more information, visit www.surgecopper.com
On Behalf of the Board of Directors
“Leif Nilsson”
Chief Executive Officer
For Further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 639 3852
Email: [email protected]
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, includ ing but not limited to the Company’s plans
regarding the Berg Project and the Ootsa Prop erty. These statements are only predictions
and involve known and unknown risks, uncertain ties, and other factors that may cause the
Company’s actual results, level of activity, perf ormance, 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, inabilit y to procure labour, equipment, and supplies in sufficient
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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, so metimes materially, from any estimates,
predictions, projections, assumptions, or other future performance suggestions herein.
Except as required by applicable law, the Co mpany does not intend to update any forward-
looking statements to conform these statements to actual results.