Surge Copper nears completion of drilling at Berg

Mr. Leif Nilsson reports SURGE COPPER PROVIDES CORPORATE AND OPERATIONAL UPDATE Surge Copper Corp. has provided a corporate update covering continuing field activities, coming 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-per-cent-owned Berg copper-molybdenum-precious-metal project in central British Columbia continues to advance on multiple fronts, supporting the company's objective of completing a resource update and prefeasibility study for the project. Resource drilling is nearing completion, with approximately 1,500 metres planned in total. The first geotechnical hole has 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, 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 advancing a second positive-dip hole, with four such holes planned for the season. Additional work streams 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 co-ordinated 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 data sets required to support robust design limits and reduce risk ahead of the coming prefeasibility study. Participation in coming investor events Surge management will be attending several coming 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, Colo. -- Sept. 9 to Sept. 12, 2025; Metals Investor Forum -- Vancouver, B.C. -- Sept. 26 and Sept. 27, 2025; Resourcing Tomorrow/London Mining Week -- London, United Kingdom -- Nov. 30 to Dec. 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 per cent of the company's issued and outstanding shares. 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 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, PGeo, 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 is a Canadian company that is advancing an emerging critical metal 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 National Instrument 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-per-cent interest in the Berg project, for which it announced a maiden preliminary economic assessment 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 a net present value discounted at 8 per cent of $2.1-billion and an internal rate of return of 20 per cent based on long-term commodity prices of $4 (U.S.) per pound copper, $15 (U.S.) per pound molybdenum, $23 (U.S.) per ounce silver and $1,800 (U.S.) per ounce gold. The Berg deposit contains pit-constrained NI 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" prepared by Ausenco Engineering Canada in conjunction with Moose Mountain Technical Services, with an effective date of June 12, 2023. The report is written by Kevin Murray and six other qualified persons, and was issued to Surge Copper. The report is available on the company's website and on SEDAR+. The company also owns a 100-per-cent 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. We seek Safe Harbor.