Surge Battery, Evolution receive conditional OK for JV

Mr. Greg Reimer reports SURGE ANNOUNCES UPDATE ON PROPOSED JOINT VENTURE WITH EVOLUTION MINING LIMITED Surge Battery Metals Inc. has provided an update on the previously announced proposed jointed venture with Evolution Mining Ltd. Surge and Evolution continue to work collaboratively to finalize all documents and liaise with requisite third parties with the intention to form the joint venture forthwith. The company is also very pleased to announce that the joint venture has been conditionally approved by the TSX Venture Exchange, such approval subject only to customary closing conditions. 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. About the Nevada North lithium project The NNLP is 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 North Nevada lithium project has a pit-constrained inferred resource containing an estimated 8.65 million tonnes of lithium carbonate equivalent (LCE) grading 2,955 parts per million Li at a 1,250 ppm cut-off. The recently completed PEA (preliminary economic assessment) 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/t LCE and an opex (operating expenditure) of $5,243 (U.S.)/t LCE.