Surge Battery Metals Amends Media Services Agreement
October 14, 2022: Coquitlam, BC, Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTCPink: NILIF; FRA:DJ5C)announces that further to the Company’s news release dated August 9, 2022 announcing the engagement of TD Media LLC d/b/a Life Water Media LLC (“Life Water Media”) to provide online marketing awareness to the Company, the parties have agreed to amend certain terms of the Media Services Agreement (the “Agreement”) and have entered into an Amended Media Services Agreement.
The amended terms are that the Company will pay an additional US$200,000 to Life Water Media and extend the term of the Agreement by one month. All other terms of the Agreement remain the same.
Life Water Media and Surge are not related parties and operate at arm’s length. Neither Life Water Media nor its principals have any interest in the Company’s securities, directly or indirectly, or any right or intent to acquire such an interest.
About Surge Battery Metals Inc. surgebatterymetals.com
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.
The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada about 73 line-km north-northeast of Wells, Nevada. The Nevada North Lithium Project is host to a Thacker Pass or Clayton Valley type lithium clay deposit. Results to date have been highly encouraging with surface samples ranging up to 0.5% lithium. Drilling has recently commenced, and sample results will be announced over the coming two months.
In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16 mineral claims, The San Emidio Project, comprising 640 acres located within Nevada’s San Emidio Desert, known as the Galt property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples ranging up to 852 parts per million lithium (mean 365 ppm). Results from two seven-foot-deep auger holes show lithium concentrations in the range of 143.5 to 773 ppm Li. A geophysical exploration program is being contracted and a short drill program to test for a lithium deposit is recommended.
Finally, the Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Project located in Mineral County, Nevada. The property is in an active region for both lithium exploration and production.
The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The Surge Nickel Project, Nickel North Project, consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area of central BC; the HN4 claim covers 1863 hectares immediately south of and adjacent to the Decar Project of FPX Nickel Corp and the Mitchell Range area to the north-east consisting of the N100 claim group covering 8659 hectares.
This is an exploration stage project partially adjacent to FPX Nickel Corp.’s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral. FPX Nickel Corp. recently released the results of an internal engineering scoping study evaluating the production of nickel sulphate for the electric vehicle (EV) battery supply chain from the high-grade awaruite nickel concentrate to be produced by the company’s Baptiste nickel project in central British Columbia. The study highlights FPX’s potential to develop the world’s largest integrated nickel sulphate production facility, linking the company directly into the EV battery supply chain via the production of low-cost, low-carbon nickel sulphate over Baptiste’s projected 35-year mine life.
Surge has completed a detailed geological mapping, soil, and rock sampling survey on our nickel property, and we are planning further exploration this fall. We are fully funded for these fall exploration programs.
On Behalf of the Board of Directors
Greg Reimer, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.