Vancouver, BC – December 17, 2021 – Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTCQB:NILIF; FRA:DJ5C) would like to provide its shareholders with additional information regarding the history and current status of the Company, as well as, its proposed operating plan for 2022.
LETTER FROM THE PRESIDENT
TO OUR SHAREHOLDERS AND PARTNERS:
Since January 2021, the Company has accomplished a great deal including a corporate rebranding, successful financing initiatives and the addition of significant mineral assets. All of this was done during a time of global uncertainty caused by the COVID-19 global pandemic and unprecedented weather events as a result of climate change. This has led to a renewed worldwide interest in clean tech solutions, including purchasing of electric vehicles (“EV”). New electric vehicle companies have emerged such as Fisker Inc. and Rivian Automotive, Inc. As well, Tesla Inc. (NASDAQ: TSLA) continues to be one of the most valuable car and public companies worldwide. Finally, traditional car manufacturing companies like Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), BMV (ETR:BMW) and Volkswagen (ETR:VOW3) are committing to building EVs as a global manufacturing and sales strategy.
The company is now planning our 2022 mineral exploration programs which will occur in mining and investment supportive jurisdictions like British Columbia, Canada and Nevada, USA, where our assets are located. Our exploration team is in the process of reviewing our past exploration work in order to develop realistic exploration plan for 2022. Some of this proposed work has been identified in past Surge news releases on our Nevada Lithium Projects, BC Nickel Projects and BC Copper Projects. We plan to further enhance and move our mineral exploration properties forward in the coming year.
Mr. Greg Reimer, Surge President & CEO comments “This year we have completed quite a bit, including adding significant mineral assets, a CAD$2.4 million financing at the start of the year and a recently completed a CAD$925,000 flow through eligible financing. This latest CAD$925,000 financing will be used to specifically fund our 2022 exploration activities on our Canadian properties. With approximately CAD$4.1 million of liquidity, the company is well capitalized going into 2022. Our next step will be to continue to add new and exciting mineral assets focused on Lithium, Nickel and Copper commodities. These are high value metals involved in the global electrification movement.”
In addition to adding working capital and adding significant mineral assets over the past year, Surge has added several experienced people to our team which will allow the Company to drive results on these mineral properties. “We look to add to both our management team and board in calendar 2022, stay tuned for these exciting announcements” comments Mr. Reimer.
Furthermore Mr. Reimer states “Long-term, the Company believes in the market for market for lithium, nickel and copper and we will continue to explore and develop our mineral exploration properties in North America. They are great and important Company assets largely because of the emergence of the overall EV market and the need for new global sources of these three metals and EVs are expected to drive a large part of this increased future metal demand and are projected to grow from a small number today to 140 million vehicles by the year 2035. As you can see, the future for these three EV focussed metals is certainly bright.”
Thesechanges have positioned the Company for a bright future for our shareholders.
“We are very happy that our shareholders continue to support our company and our exploration programs in North America” comments Mr. Reimer. “The funds that we have received recently are earmarked for our various exploration programs in order to improve the value of what we have underground and ultimately work towards getting these properties closer to production. This will take a lot of hard work, but our team is dedicated to succeed for the betterment of our shareholders.”
Thank you for joining us on this journey, and we look forward to a great 2022.
Johan T. Shearer M.Sc., P.Geo. (BC & Ontario) FSEG is a qualified person as defined by NI# 43 – 101, is responsible for the technical information contained in this release.
About Surge Battery Metals Inc. newsurge.wpengine.com
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper 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.
Nevada Lithium Claims
The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.
The Company has entered into a Property Option Agreement to earn an undivided 80% interest in the San Emidio Desert Lithium Project, subject to a 2% NSR, located 60 miles Northeast of Reno, Nevada from Lithium Corporation (OTCQB: LTUM). The San Emidio Desert Lithium Project consists of 60 mineral claims comprising a total of 4,800 acres and is located in the San Emidio Desert.
Nickel Projects, Northern BC
The Company has entered into a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc.
The Surge Nickel Project consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).
The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.’s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.
Caledonia Project, Vancouver Island, BC
The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP’s past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada’s third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.
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.