Surge Copper Completes 2026 Drilling Program at Berg Copper Project

Surge Copper Corp. (SURG) released results on November 6, 2026, confirming the completion of its 2026 field program at the 100%-owned Berg Copper Project. The announcement included assay results from a historical drill-core resampling initiative but did not report new assay results from the 2026 exploration drilling.

The 2026 program completed 31 holes totaling 6,334.5 meters. This included 10 diamond geotechnical holes for 3,104.0 meters, 5 ARD characterization holes for 1,693.0 meters, 14 sonic geotechnical holes for 657.4 meters, and 2 Sylvia exploration holes for 880.1 meters. Assays from the Sylvia holes and other 2026 programs are pending.

The historical resampling covered 23 old holes, comprising 11 fully resampled, 10 partially resampled, and 2 with uncertain historical collar locations. Approximately 87% of assay intervals now contain both gold and silver analyses.

Highlighted historical resampling results include:

• BRG007: 4.27–78.94 m, 74.68 m @ 0.23% Cu, 0.013% Mo, 1.67 g/t Ag, 0.02 g/t Au, 0.30% CuEq.
• BRG009: 103.63–232.26 m, 128.63 m @ 0.46% Cu, 0.036% Mo, 3.93 g/t Ag, 0.06 g/t Au, 0.65% CuEq.
• BRG012: 23.77–174.65 m, 150.88 m @ 0.26% Cu, 0.027% Mo, 3.06 g/t Ag, 0.04 g/t Au, 0.40% CuEq.
• BRG014: 120.70–231.65 m, 110.95 m @ 0.34% Cu, 0.035% Mo, 5.56 g/t Ag, 0.42 g/t Au, 0.74% CuEq.
• BRG027: 59.44–178.92 m, 119.48 m @ 0.26% Cu, 0.055% Mo, 3.87 g/t Ag, 0.03 g/t Au, 0.51% CuEq.
• BRG043: 100.28–167.64 m, 67.36 m @ 0.24% Cu, 0.081% Mo, 2.91 g/t Ag, 0.04 g/t Au, 0.58% CuEq.
• BRG069: 81.08–181.36 m, 100.28 m @ 0.23% Cu, 0.021% Mo, 2.40 g/t Ag, 0.02 g/t Au, 0.34% CuEq.
• BRG070: 24.38–169.77 m, 145.39 m @ 0.18% Cu, 0.025% Mo, 1.71 g/t Ag, 0.02 g/t Au, 0.30% CuEq.
• BRG071: 136.25–279.20 m, 142.95 m @ 0.34% Cu, 0.038% Mo, 4.93 g/t Ag, 0.03 g/t Au, 0.53% CuEq.
• BRG072: 36.58–150.27 m, 113.69 m @ 0.32% Cu, 0.014% Mo, 3.11 g/t Ag, 0.03 g/t Au, 0.41% CuEq.
• BRG073: 94.49–192.02 m, 97.54 m @ 0.40% Cu, 0.012% Mo, 6.53 g/t Ag, 0.06 g/t Au, 0.53% CuEq.
• BRG080: 27.43–60.05 m, 32.61 m @ 0.17% Cu, 0.015% Mo, 5.34 g/t Ag, 0.02 g/t Au, 0.28% CuEq.

The release states that widths are drill-hole intercepts, true widths have not been determined, and high grades have not been capped. The CuEq formula, metal prices, and assumed recoveries are disclosed.

Surge Copper Corp. (SURG) released financial context for the second quarter of 2026, reporting cash holdings of approximately C$20.8 million and working capital of about C$19.4 million. The company recorded no revenue and a net loss of roughly C$1.3 million for the period.

The company’s Berg Preliminary Feasibility Study (PFS) remains unchanged, outlining a 1.2 billion-tonne reserve grading 0.22% copper with a 28-year mine life. The project is designed for a throughput of 120,000 tonnes per day, carrying an after-tax NPV8% of C$4.6 billion, a 24% internal rate of return, and initial capital expenditure of C$4.7 billion. While historical resampling may support future resource estimation and confidence, it does not constitute a resource, reserve, mine-life, or permitting milestone.

The 2026 program focused primarily on geotechnical, hydrogeological, acid rock drainage (ARD), and environmental work. These activities are necessary for feasibility and permitting but do not represent market-moving drill results. New exploration holes at the Sylvia property are still pending.

Surge Copper’s stock has declined from a 2026 high of C$0.91 to C$0.41. The current release is characterized as routine database and program news rather than a new catalyst.

Surge Copper Corp. is a TSXV-listed development company focused on the 100%-owned Berg copper-molybdenum-silver-gold porphyry project in central British Columbia, along with the Ootsa project and a large contiguous claim package. The Berg project’s Preliminary Feasibility Study (PFS), completed in June 2026, outlines a 1.2 billion-tonne Proven and Probable reserve grading 0.22% copper, 0.026% molybdenum, 4.1 grams per tonne silver, and 0.02 grams per tonne gold. The study supports a 28-year mine life using a 120,000-tonne-per-day conventional open pit, projecting an after-tax NPV8% of C$4.6 billion and a 24% internal rate of return, with initial capital expenditure estimated at C$4.7 billion.

The Ootsa project includes the Seel and Ox porphyry deposits. A provided presentation lists Ootsa Mineral Resource and Mineral Reserve (M&I) resources of 438.6 million tonnes at 0.18% copper, 0.017% molybdenum, 0.12 grams per tonne gold, and 2.1 grams per tonne silver.

In prior-period financial context, the company held approximately C$20.8 million in cash with no debt and about 388.1 million shares outstanding. At a price of C$0.41, the implied market capitalization is approximately C$159.1 million. The presentation also lists 72.4 million dilutive securities. The Berg project is currently in the British Columbia and federal environmental assessment process following the acceptance of the Initial Project Description and has been accepted into the BC Critical Minerals Office.