Surge Copper Advances Berg Project Pre-Feasibility Study

Executive Summary

• Surge Copper Corp. announced that its Berg Project is moving into full‑design and cost‑estimation work for a Pre‑Feasibility Study, with completion targeted for mid‑first half of 2026.
• The PFS will incorporate extensive new drilling (≈64,574 m in 237 holes), metallurgical testwork, geotechnical data, and environmental baseline studies to update the mineral resource estimate, mine plan, process flowsheet, and capital/operating cost models.
• Ausenco Engineering Canada has been appointed lead consultant for engineering design, while Moose Mountain Technical Services will lead mineral resource estimation and open‑pit design.

Key Details

• Scope & Timeline: Full‑design and cost‑estimation phase begun; expected delivery of PFS in the middle of H1 2026.
• Consultants Engaged:
• Ausenco Engineering Canada – responsible for process plant design, metallurgical recovery modelling, power/infrastructure, tailings & water management, and overall report preparation.
• Moose Mountain Technical Services (MMTS) – leading mineral resource estimation, open‑pit design, scheduling, and supporting engineering fields.
• Technical Data Updates Since 2023 PEA:
• Drilling inventory increased from ~54,384 m (210 holes) to ~64,574 m (237 holes), adding infill and conversion drilling for improved grade continuity and geological modelling.
• Metallurgical testwork completed (June 17 2025) showing improved copper and molybdenum recoveries versus PEA assumptions; informs Ausenco’s PFS‑level flowsheet.
• Geotechnical drilling & downhole investigations (2024‑2025) enhanced pit slope design, foundation characterization, and site layout planning; final results pending incorporation into the PFS.
• Environmental & ESG Work: Multi‑year baseline studies covering surface/groundwater quality, hydrology, fisheries, wildlife, vegetation, climate, air quality, waste rock/tailings geochemistry, heritage, archaeology, and socio‑economic impacts are ongoing to support EA readiness and permitting.
• Indigenous Engagement: Continued dialogue and collaborative planning with Indigenous Nations integrated into the PFS to align with BC Environmental Assessment expectations.
• Policy Context: Recent supportive policy/fiscal changes in British Columbia for critical minerals (e.g., tax incentives, streamlined permitting) noted as favorable for project economics.

Notable Quotes

“The PFS will mark a major step forward for Berg, including our first opportunity to establish initial mineral reserves… we look forward to delivering on this next milestone for the Company.” – Leif Nilsson, CEO

Qualified Person: Dr. Shane Ebert, P.Geo., qualified under NI 43‑101 and director of Surge Copper Corp.