Surge Announces Global Engineering Leader Fluor Corporation to Lead Pre-Feasibility Study at Nevada North Lithium Project

February 9, 2026: West Vancouver, BC;  Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTC: NILIF, FRA: DJ5C) is pleased to announce that Nevada North Lithium LLC (NNL), the joint venture formed by Surge and Evolution Mining Limited (Evolution) has selected Fluor Enterprises, Inc. (“Fluor”) as the lead engineering firm to lead the Pre-Feasibility Study (“PFS”) at its flagship Nevada North Lithium Project (“NNLP”).

The selection of Fluor, one of the world’s premier engineering, procurement, and construction management firms, marks a pivotal transition for Surge from exploration into the development phase. Fluor’s engagement aligns the high-grade potential of the Nevada North discovery with a globally recognized execution partner capable of delivering a bankable study and, ultimately, a commercially operating mine.

Key Highlights:

• Tier 1 Validation: Fluor’s involvement validates the scale and potential of the NNLP, bringing Fortune 500 rigor to the project’s design and economics.

• Execution Focus: Unlike some consulting firms, Fluor is a builder. Their scope focuses on “constructability,” ensuring the PFS is not just a theoretical study but a roadmap to production.

• Integrated Team: Fluor will lead a consortium of specialized technical partners—including Kemetco Research (Metallurgy), IMC (Mining), and Call & Nicholas (Geotech), many of whom were instrumental in the Company’s successful Preliminary Economic Assessment (PEA) for the NNLP.

The Company anticipates the delivery of the PFS in Q4 2026, positioning NNL to make a rapid transition to a Direct Feasibility Study and achieving permitting milestones.

Mr. Greg Reimer, Chief Executive Officer and Director of Surge, commented, “Selecting Fluor as lead engineer for the NNLP’s Pre‑Feasibility Study is an important step in advancing one of the most significant lithium clay assets in the United States. Fluor’s track record of delivering large‑scale critical minerals projects, including lithium developments in North America, gives us a high level of confidence in de‑risking our project design, capital estimates and execution pathway. Building on the robust economics outlined in our recent PEA, a partnership with a Tier‑1 engineering firm underscores our commitment to developing Nevada North as a long‑life and low‑cost source of domestic battery‑grade lithium for the USA.”

Surge Battery Metals Inc.is pleased to announce the appointment of Tu Lieu as Chief Financial Officer. Mr. Lieu brings nearly 20 years of experience in accounting and finance. He began his career in the mid-2000s and obtained his CPA designation in 2015. Throughout his career, Mr. Lieu has held roles including FP&A Manager, Financial Controller, and has developed expertise in financial reporting, budgeting, finance and cash flow management, audits, and compliance with accounting standards. Mr. Lieu transitioned his careen to the resource industry and has most recently held the position of Vice President of Finance at Surge and Nevada North Lithium, LLC.

The company would like to thank Mr. Jensen for his contributions and wishes him all the best in the future.

About Surge Battery Metals Inc.

Surge Battery Metals Inc., 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 development of high-grade lithium energy metals in Nevada, USA, a crucial element for powering battery electric storage and electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the USA, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration.

About Evolution Mining Limited 

Evolution Mining is a leading, globally relevant gold miner. Evolution operates six mines, comprising five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80% share in Northparkes in  New South Wales.

About Nevada North Lithium LLC

Nevada North Lithium LLC owns the Nevada North Lithium Project southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County. The first three rounds of drilling at the project identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1,500 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 11.24 Mt of Lithium Carbonate Equivalent (LCE) grading 3010 ppm Li at a 1,250-ppm cutoff. The recently completed PEA reported an after-tax NPV8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE, and an OPEX of US $5,243/t LCE. A 2025 infill drill program has been completed, and assay results are pending.

On behalf of the Board of Directors

“Greg Reimer”

Greg Reimer,
President & CEO