Surge Announces Agreement for Long-Term Land Access and Withdrawal of Water Application Protest at Nevada North
Surge Battery clears critical water and land hurdles for its Nevada North project ahead of a Q4 feasibility study.
Surge Battery Metals Inc., through its joint venture Nevada North Lithium, LLC, has executed a definitive Access and Mitigation Agreement with the Salmon River Cattlemens Association (SRCA). The deal secures long-term surface and water access across approximately 880 acres of private land, encompassing Bureau of Land Management grazing permits and water rights. In conjunction with the agreement, SRCA has agreed to withdraw all protests previously filed against Nevada North Lithium’s water appropriation applications with the Nevada Division of Water Resources.
A comprehensive monitoring and mitigation framework has been established to govern the relationship, featuring an independent pre-mining baseline study, a joint coordination committee, defined mitigation triggers, and a performance bond to secure obligations. This development supports the project’s progression toward a prefeasibility study (PFS) currently targeted for the fourth quarter of 2026.
The company also highlighted metrics from its existing Preliminary Economic Assessment (PEA), which indicate a resource of 10.51 million tonnes of lithium carbonate equivalent (LCE) at 3,007 parts per million lithium. The assessment projects an after-tax net present value at an 8% discount rate of US $9.17 billion and an internal rate of return (IRR) of 22.8%. Additionally, administrative actions included the granting of 2 million stock options exercisable at $1.02 per share for a five-year period to directors, officers, and consultants.
Surge Battery Metals Inc. (NILI) has resolved a specific permitting hurdle regarding water rights protests and formalized surface access, establishing foundational prerequisites for the upcoming Preliminary Feasibility Study (PFS) and future Bankable Feasibility Study (BFS). The company’s mitigation framework and performance bond requirement are designed to de-risk environmental permitting and community relations, aligning with standard industry practices for Nevada lithium projects.
The announcement aligns with previous management expectations regarding the delivery of the PFS in Q4 2026 and the strategic importance of securing land and water rights. The news does not introduce new economic parameters, change the project timeline, or alter the joint venture ownership structure.
Surge Battery Metals Inc. is a Canadian exploration and development company focused on the Nevada North Lithium Project (NNLP), located in the Granite Range southeast of Jackpot, Nevada. The project is developed through a joint venture, Nevada North Lithium LLC, with Evolution Mining Limited.
NNLP is a high-grade lithium clay deposit with a pit-constrained Measured & Indicated Resource of 10.51 Mt LCE grading 3,007 ppm Li. The Preliminary Economic Assessment (PEA) outlines a 42-year mine life producing 3.6 Mt LCE, with an after-tax NPV8% of US $9.17 billion and an IRR of 22.8% at a $24,000/t LCE price assumption.
The company is transitioning from exploration to development, targeting a PFS in Q4 2026 and a BFS thereafter, with plans to list on the Nasdaq Capital Market.