July 8th, 2026: West Vancouver, BC; Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTC: NILIF, FRA: DJ5C) is pleased to announce that Nevada North Lithium, LLC (“NNL”), the joint venture formed by Surge and Evolution Mining Limited (“Evolution”), has received final analytical reruns for all 2022 and 2023 drill holes on the Nevada North Lithium Project. The results confirm geochemical continuity of the high-value critical metals Cesium (Cs) and Rubidium (Rb) across the entire deposit footprint.

 Consequently, Surge has engaged its independent resource consultants at RESPEC to calculate and integrate these results into the geological models underpinning the Project’s upcoming Pre-Feasibility Study (PFS). The presence of Cesium and Rubidium was not included in the recently published lithium-only MRE.

 Key Highlights:

• Cross-Project Grades: Standardized multi-element assays from the 2022 and 2023 core reruns match the trends identified in 2024 and 2025, establishing a Project-wide critical minerals database.

• Value Concentration in Primary Mine Horizons: Within the Cu2 and Cu3 clay layers—which are anticipated to represent most of the material extracted under the current mine plan—geochemical modeling demonstrates positive average grades depending on the chosen lithium cut-off threshold:

  • At a 2,000-ppm Li Cut-off, geochemical modeling demonstrates highly concentrated averages of 125 ppm Cesium (Cs) and 291 ppm Rubidium (Rb).

  • At a 1,250-ppm Li Cut-off, uniform, Project-wide averages of 120 ppm Cesium (Cs) and 277 ppm Rubidium (Rb) are observed.

• Kemetco Refining and Deportment Studies Underway: The Company has expanded its metallurgical test work scope with Kemetco Research Inc. (“Kemetco”) to map the precise deportment and extraction pathways of these specialty metals. Advanced testing is actively evaluating the potential to recover Cesium and Rubidium as high-value co-products or by-products alongside the primary lithium carbonate flowsheet.

  
  

Mr. Greg Reimer, President, Chief Executive Officer and Director of Surge, commented, “These results demonstrate that high-grade cesium and rubidium are geochemically bound to our highest-grade lithium zones. We are now working with RESPEC to integrate these Cesium and Rubidium results into the upcoming PFS.”

Figure 1. Scatter Plot of positive relationship between Li and Cs.

Figure 2. Scatter Plot of positive relationship between Li and Rb.

Technical Discussion and Trend Analysis

The standardization of the Project-wide assay database shows that trace elements move predictably with lithium mineralization across the primary clay horizons. This tight linear relationship is clearly illustrated in the Project scatter plots:

• Cesium Relationship: The Li (ppm): Cs (ppm) scatter plot (Figure 1) shows a clean, linear ascent with cesium tightly tracking lithium and reaching peaks over 300 ppm Cs in the highest-grade horizons.

• Rubidium Relationship: The Li (ppm): Rb (ppm) scatter plot (Figure 2) mirrors this rigid geochemical discipline, where rubidium concentrations predictably scale from baseline levels up over 600 ppm in our highest-grade lithium zones (>8,000 ppm Li).

By securing this strong data alignment from the earliest phases of drilling, Surge has the geological inputs required to generate a comprehensive multi-element block model. In collaboration with the Company's independent QP engineering groups these trends will be utilized to run trade-off and optimization studies evaluating potential by-product or co-product credit values.

 Drill samples from the 2022 and 2023 program were originally analysed using aqua regia digestion followed by Atomic Emission Spectrometry (ALS method ME-ICP41) which does not report Cs and Rb.  Stored pulps from horizons of interest were re-analysed via aqua regia digestion followed by Mass Spectrometry (ME-MS41) at ALS Global.  ALS is a recognized tier-one analytical laboratory and the same lab used for the earlier programs. 

 The Company is also granting a total of 6,950,000 stock options, exercisable for a period of five years, at an exercise price of $0.70 a share to certain directors, officers and consultants.

 Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the Company, and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

Surge Battery Metals Inc., a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The Project focuses on development of high-grade lithium energy metals in Nevada, USA, a crucial element for powering battery electric storage and electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and a listing on the OTCQX Market in the USA, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration.

About Evolution Mining Limited

Evolution Mining is a leading, globally relevant gold miner. Evolution operates six mines, comprising five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80% share in Northparkes in New South Wales.

About Nevada North Lithium, LLC

Nevada North Lithium, LLC, jointly owned by Surge Battery Metals Inc (70.54%) and Evolution Mining Limited (29.46%), owns the Nevada North Lithium Project southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County. The first three rounds of drilling at the Project identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1,500 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. As disclosed in the Company’s Preliminary Economic Assessment dated May 19, 2025 (PEA), completed jointly by M3 Engineering & Technology Corp. and Independent Mining Consultants (see the Company’s news release dated July 24, 2025 for further information regarding the PEA), the Nevada North Lithium Project reported an after-tax NPV8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE and an OPEX of US $5,243/t LCE. The Project now has a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff.

On behalf of the Board of Directors

“Greg Reimer”

Greg Reimer,
Director, President & CEO