Surge Battery closes $500,000 private placement

Mr. Graham Harris reports SURGE ANNOUNCES CLOSING OF FINANCING AND STRATEGIC INVESTOR Surge Battery Metals Inc. has closed a non-brokered private placement financing offering of 1,851,852 units at a price of 27 cents per unit for gross proceeds of $500,000. Each unit comprise one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 37 cents per share until Oct. 15, 2028. All securities issued in connection with the private placement will be subject to a four-month-and-a-day hold period expiring on Feb. 16, 2026, in accordance with applicable Canadian securities laws. Proceeds of the private placement will be used for general working capital. The sole investor under the private placement was The Quaternary Group Ltd. The company is pleased to welcome The Quaternary Group as a new strategic investor. The Quaternary Group now holds approximately 11.3 per cent of the company's outstanding shares on a diluted basis and 5.7 per cent on an undiluted basis, positioning them as a significant shareholder. The company values this investment as a strong vote of confidence in its projects and future growth strategy. Graham Harris, chairman, comments: "We are very pleased to welcome the continued investment from The Quaternary Group, long-standing supporters of Surge Battery Metals. Their ongoing confidence underscores the strength of our strategy, and we look forward to building on this relationship as we advance the Nevada North lithium project." Ross Jennings of The Quaternary Group comments: "We are pleased to become a long-term strategic investor in the company. With the highest-grade lithium clay deposit resource in America, located in mining-friendly Nevada and recent alignment agreements with its key partners, Surge Battery Metals is now ideally positioned to prosper in the coming years. The U.S. government, and the stock market, will come to realize the critical role lithium must play in the transformation of our increasingly energy intensive AI economy and how Surge Battery Metals is central to that realization given its best-in-class resource." 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 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. About the Nevada North lithium project The company owns the Nevada North lithium project located in the Granite Range southeast of Jackpot, Nev., about 73 kilometres north-northeast of Wells, Elko county, Nevada. The first three rounds of drilling, completed in 2022, 2023 and 2024, identified a strongly mineralized zone of lithium-bearing clays occupying a strike length of more than 4,300 metres and a known width of greater than 1,500 metres. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling. The Nevada North lithium project has a pit-constrained inferred resource containing an estimated 8.65 Mt (million tonnes) of lithium carbonate equivalent (LCE) grading 2,955 ppm (parts per million) Li (lithium) at a 1,250 ppm cut-off. The recently completed PEA reported an after-tax NPV (net present value) 8 per cent $9.17-billion (U.S.) and after-tax IRR (internal rate of return) of 22.8 per cent at $24,000/tonne LCE (lithium carbonate equivalent) and an opex of $5,243 (U.S.)/t LCE. We seek Safe Harbor.