Surge Battery Metals Reports Optimization of Flowsheet Parameters and Extraction Successes at Nevada North

On May 26, 2026, Surge Battery Metals reported a metallurgical progress update for its Nevada North Lithium Project. The release highlighted optimized leaching tests achieving over 93% lithium extraction, successful beneficiation that upgrades run‑of‑mine material early in the flowsheet, and upcoming solid‑liquid separation work to support Pre‑Feasibility Study (PFS) equipment design. The update builds on the April 1, 2026 engagement of Kemetco Research and is part of the fully‑funded PFS being led by Fluor Corporation. The company reiterated the recently upgraded Measured & Indicated resource of 10.5 Mt LCE at 3,007 ppm Li and the robust PEA economics (after‑tax NPV8% US$9.17 B, IRR 22.8% at $24,000/t LCE).

The flowsheet update is a routine positive – it confirms technical progress that was expected following the initiation of advanced metallurgical testing. Achieving >93% extraction is encouraging, but no new economic parameters or resource figures were introduced. The update is fully in line with the project’s de‑risking narrative and does not alter the investment thesis. The market did not have an opportunity to react (stock data ends the day before), but given the incremental nature, significant price movement is unlikely. The news is a natural follow‑up to the April metallurgical program launch and represents execution, not a surprise.

Surge Battery Metals is a lithium development company focused on its 70.54%‑owned (via Nevada North Lithium LLC) Nevada North Lithium Project in Elko County, Nevada. The deposit is a large, near‑surface lithium‑bearing claystone. A joint venture with Evolution Mining Ltd. provides capital and land consolidation. The project now hosts a pit‑constrained Measured & Indicated resource of 10.51 Mt LCE at 3,007 ppm Li, plus 3.11 Mt LCE Inferred. A 2025 PEA showed compelling economics, and a PFS is underway for Q4 2026.