May 14, 2024: West Vancouver, BC; Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTC: NILIF, FRA: DJ5C) is pleased to announce that the company has contracted M3 Engineering and Technology Corporation (M3 Engineering) of Tucson, Arizona, a recognized leader in the lithium claystone space, as the lead engineering firm to  produce a Preliminary Economic Assessment (PEA) and accompanying NI 43-101 technical report on its Nevada North Lithium Project (NNLP).

The results of the NNLP PEA are scheduled to be announced by the end of Q4 in 2024 and are expected to be based on an updated lithium resource estimate following the 2024 spring drill program. Dr. Bruce Davis has prepared an initial inferred resource estimate of 4.67 Mt LCE at an average grade of 2,839 ppm Li at a 1,250 ppm Li cutoff, (See news release of April 30, 2024).

Supporting M3 Engineering on the NNLP PEA will be Independent Mining Consultants Inc. (IMC) of Tucson, Arizona for the mining engineering section. The mine design by IMC is anticipated to be based on open pit truck/shovel methods that will minimize the stripping ratio while maximizing grades being mined from the pit.

Metallurgical modelling will be built on the flowsheet being developed at Kemetco that uses a well-established process to obtain optimal lithium extraction and production of high purity lithium carbonate. Initial testing demonstrated that the flowsheet produced lithium carbonate purity exceeding 99% without any refinement (See news release of April 9, 2024). Further test work is under way to optimize the process trials to date and to advance to the additional purification steps that we anticipate will yield 99.9% purity, designed to meet battery-quality specifications.

To guide Surge in the process, the Company has engaged Graham Ballachey, a professional engineer with significant Nevada lithium claystone experience, to serve as Project Owner’s Engineer for the NNLP PEA.

Mr. Greg Reimer, Chief Executive Officer, and Director commented “M3 Engineering is a world-class engineering firm with exactly the type of lithium claystone experience that Surge was looking for in a lead firm. The combination of M3 Engineering with IMC and Kemetco is a team that we believe will deliver a PEA that will not only estimate the potential economics of the NNLP but will bring with it the real-world understanding and confidence these firms and professionals provide. We look forward to commencing the work required to achieve this very important milestone and to announcing the results by the end of the year.”

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, 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, 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 exploring clean, high-grade lithium energy metals in Nevada, USA. Lithium is a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry.

About the Nevada North Lithium Project

The Company’s Nevada North Lithium Project, located in the Granite Range southeast of Jackpot, Nevada 73 km north-northeast of Wells, Elko County, Nevada. The first two rounds of drilling, completed in 2022 and 2023, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 3,500 meters and a known width of up to 950 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 4.67Mt of Lithium Carbonate Equivalent (LCE) grading 2,839 ppm Li at a 1,250 ppm cutoff.

On behalf of the Board of Directors

“Greg Reimer”

Greg Reimer,
President & CEO