Surge Copper nears completion of drilling at Berg

Executive Summary

• Surge Copper provided an update on its 2025 field program at the fully‑owned Berg project, highlighting near‑completion of resource drilling and the first uphill‑angle drill hole.
• The company announced upcoming investor conference appearances in North America and the United Kingdom.
• A strategic private placement is expected to raise approximately $4.5 million, increasing a strategic investor’s ownership to 19.9% and closing within about four weeks pending TSX Venture Exchange and South African regulatory approvals.

Key Details

• Field Program – Berg Project
• Total planned resource drilling: ~1,500 m; geotechnical hole completed.
• First uphill‑angle underground drill hole: 456 m at +14° dip to test outer mineralization margins and assess acid rock drainage potential.
• Additional positive‑dip holes: four planned for the season; second hole already underway.

• Ongoing work streams: geophysical surveys, environmental baseline studies, pad construction, line cutting, and logistical preparations.

• Investor Events

• Precious Metals Summit – Beaver Creek, CO (Sept 9‑12, 2025)
• Metals Investor Forum – Vancouver, BC (Sept 26‑27, 2025)

• Resourcing Tomorrow/London Mining Week – London, UK (Nov 30‑Dec 4, 2025)

• Strategic Private Placement

• Target raise: ≈ $4.5 million in common shares.
• Investor will increase ownership to 19.9% of issued and outstanding shares.
• Subscription agreement executed; regulatory approval process initiated in South Africa.
• Conditional acceptance already received from the TSX Venture Exchange.
• Anticipated closing: ~4 weeks after receipt of foreign approvals.

• Shares subject to a statutory hold period of four months plus one day.

• Qualified Person

• Dr. Shane Ebert, P.Geo., qualified person for Ootsa and Berg projects (NI 43‑101) and officer/director of Surge Copper.

Notable Quotes

“The continued progress at Berg, including our first uphill‑angle drilling, is delivering the critical data needed to de‑risk the upcoming prefeasibility study,” – Mr. Leif Nilsson, President & CEO, Surge Copper Corp.

Materiality Assessment: Non‑Material – Positive (the update provides operational and financing information but does not contain earnings, major M&A, or material financial results).