Surge Copper Provides Corporate and Operational Update
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V Trading Symbol: SURG
OTCQB: SRGXF
Frankfurt Trading Symbol: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
August 14, 2025
NEWS RELEASE
Surge Copper Provides Corporate and Operational Update
August 14, 2025, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to provide a
corporate update covering ongoing field activities, upcoming investor events, and progress on its
previously announced concurrent private placement with a significant strategic investor.
Operational Update
Surge’s 2025 field program at the 100%-owned Berg copper-molybdenum-precious metals
project in central British Columbia continues to advance on multiple fronts, supporting the
Company’s objective of completing a resource update and pre-feasibility study for the project.
Resource drilling is nearing completion, with approximately 1,500 metres planned in total. The
first geotechnical hole has now been completed, initiating a focused program to characterize
ground conditions at proposed infrastructure areas of the project footprint. Upon completion of
the geotechnical program, the Company may opt to undertake additional resource infill drilling
and/or exploration drilling on priority targets.
The 2025 program also features the first-ever uphill-angle drilling at Berg. An underground drill,
secured to a road-cut rock face, successfully completed a hole at a positive 14-degree dip to test
the outer margins of Berg mineralization and evaluate acid rock drainage potential within the
conceptual pit’s waste rock zone. This 456-metre hole was completed safely and to plan, and the
drill rig is now advancing a second positive-dip hole, with four such holes planned for the season.
Additional workstreams remain active across the site, including geophysical surveys,
environmental baseline studies, and logistical field preparations such as pad construction and line
cutting. The Berg camp is currently a hub of coordinated technical activity, with drill contractors,
field geologists, environmental and geotechnical engineers, helicopter crew, line cutters, pad
builders, geophysical crews, and camp support staff all contributing to the program. Collectively,
these efforts are generating the critical datasets required to support robust design parameters
and reduce risk ahead of the upcoming pre-feasibility study.
Participation in Upcoming Investor Events
Surge Copper Corp. 2
Surge management will be attending several upcoming investor conferences in North America
and the United Kingdom and will be available for one-on-one meetings with investors:
Precious Metals Summit – Beaver Creek, Colorado – September 9-12, 2025
Metals Investor Forum – Vancouver, British Columbia – September 26-27, 2025
Resourcing Tomorrow / London Mining Week – London, United Kingdom – November
30 – December 4, 2025
Strategic Investment Update
As disclosed in the Company’s July 9, 2025 news release, Surge is undertaking a private
placement of common shares to a significant strategic investor who currently holds participation
rights and has agreed to increase its ownership to 19.9% of the Company’s issued and
outstanding shares (the “ Strategic Private Placement ”). The Strategic Private Placement is
expected to raise approximately $4.5 million and close following completion of customary
conditions, including TSX Venture Exchange acceptance and certain foreign regulatory approvals
in South Africa.
The Company has now executed the subscription agreement in respect of the Strategic Private
Placement and initiated the regulatory approval process in South Africa. Conditional acceptance
for the Strategic Private Placement was previously granted by the TSX Venture Exchange, and it
is anticipated that the transaction will close within approximately four weeks, following receipt of
regulatory approvals in South Africa.
Common shares issued under the Strategic Private Placement will be subject to a statutory four-
month plus one day hold period.
Qualified Persons
Dr. Shane Ebert P.Geo., is the Qualified Person for the Ootsa and Berg projects as defined by
National Instrument 43-101 and has approved the technical disclosure contained in this news
release. Dr. Ebert is an Officer and a Director of Surge and is not independent of the Company.
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 modern energy infrastructure and 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 road, power, and port 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. Details of the Berg Preliminary Economic Assessment are outlined in a technical
report titled “Berg Project NI 43-101 Technical Report and Preliminary Economic Assessment”
Surge Copper Corp. 3
prepared by Ausenco Engineering Canada in conjunction with Moose Mountain Technical
Services, with an effective date of June 12, 2023. The report is authored Kevin Murray and 6 other
qualified persons and was issued to Surge Copper Corp. The report is available on the
Company’s website and on SEDAR.
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: +1 604 639 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, including but not limited to the Company’s plans regarding the Berg Project and the
Ootsa Property. Statements regarding the scope, timing, and objectives of the Company’s 2025
field program, including completion of a resource update and pre-feasibility study, drilling,
geochemical testing, geotechnical investigations, and environmental baseline programs, the
anticipated closing date of the Strategic Private Placement, closing of the Strategic Private
Placement, including receipt of all necessary approvals required therefor, are forward-looking in
nature and may change as priorities evolve or new information becomes available. There can be
no assurance that any future studies, including a pre-feasibility study, will confirm the economic
or technical viability of the Berg Project or result in a production decision. 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, and bad weather. While these forward-looking
Surge Copper Corp. 4
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.