Surge Battery arranges $5-million private placement

Mr. Greg Reimer reports SURGE BATTERY METALS ANNOUNCES NON-BROKERED LIFE OFFERING OF UNITS Surge Battery Metals Inc. will be conducting a non-brokered private placement of units at a price of 25 cents per offered unit for aggregate gross proceeds of a minimum of $4-million (16 million offered units) up to a maximum of $5-million (20 million offered units), pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, in each of the provinces of Canada other than Quebec. Each offered unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of 40 cents for a period of three years from the date of issuance. In connection with the offering 3L Capital Inc. is acting as financial adviser to the transaction. The offering document relating to the LIFE offering can be accessed under the company's profile at SEDAR+ and at the Surge Battery website. Prospective investors in the LIFE offering should read the offering document before making an investment decision. The company is undertaking this financing in connection with its recently announced letter of intent with Evolution Mining Ltd. to establish a joint venture on the Nevada North lithium project. Proceeds of the offering will position Surge to meet near-term funding commitments under the contemplated JV structure, while also advancing exploration and development activities at Nevada North. In addition, the offering will strengthen the company's balance sheet and provide working capital flexibility as Surge progresses discussions with Evolution and continues to pursue new project opportunities. Graham Harris, chairman and director, commented: "We are pleased to announce this financing to fulfill our obligation under the terms of the JV with Evolution Mining. We continue to receive critical support from key stakeholders and wish to thank them and 3L Capital for their commitment to supporting the next phase of development at the Nevada North lithium project." The company may pay finders' fees in connection with the LIFE offering, as permitted by applicable securities laws and the rules of the TSX Venture Exchange. The finders' fees will consist of cash commissions equal to up to 7 per cent of the gross proceeds raised from purchasers introduced to the company by eligible finders, and finder warrants equal to up to 7 per cent of the aggregate number of offered units sold to purchasers introduced to the company by eligible finders (excluding any units that may be purchased by the eligible finder). Each finder warrant will be exercisable for one common share at an exercise price of 25 cents per common share for 36 months following the date of issuance. The closing of the LIFE offering is subject to receipt of the approval of the TSX Venture Exchange. 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 for clean, high-grade lithium energy metals in Nevada, United States, a crucial element for powering electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the U.S., Surge Battery Metals is strategically positioned as a key player in advancing lithium exploration. We seek Safe Harbor.