Program Delivers Critical Data for Resource Upgrade and Pre-Feasibility Study
October 30, 2025: West Vancouver, B.C. Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTC: NILIF, FRA: DJ5C) is pleased to announce the successful completion of its 2025 core drilling program at the 100%-owned Nevada North Lithium Project (NNLP). The nine-hole program, totaling 4,634.5 feet (1,412.6 meters), successfully achieved all its primary objectives: collecting critical data for the Company’s planned upgrade to the mineral resource (from Inferred to Indicated and Measured); gathering essential geotechnical and hydrogeological data; and securing bulk samples for metallurgical test work critical to the planned 2026 Pre-Feasibility Study (PFS).
Highlights of the 2025 Drill Program:
- Exceptional Clay Intercepts: All nine holes encountered significant thicknesses of the target lithium-bearing claystone horizons, visually consistent with high-grade mineralization observed in previous campaigns (Figure 1). Preliminary visual logging indicates over 1,830 cumulative feet (557.8 meters) of favorable claystone was intersected across the program.
- Robust Thickness & Continuity: Drilling confirmed excellent lateral continuity of the main clay horizons across the resource area, reinforcing the geological model. The average composite thickness of favorable claystone per hole was 207.4 feet (63.2 meters), with a maximum composite thickness of 353 feet (107.6 meters) encountered in hole NNL-030.
- Potential for Expansion Beyond Current Model: Drilling results suggest the lithium-bearing basin may extend further than previously interpreted, indicating potential to expand the known resource footprint with future work.
- Significant Near-Surface Mineralization: Five of the nine holes encountered the target claystone horizons at or very near the surface (starting within 20 feet or 6.1 meters), highlighting the deposit’s favorable geometry for potential low-cost extraction.
- Consistent Mineralization: Visually favorable lithium claystone was intersected across varying depths, demonstrating the deposit’s consistency. Even holes intersecting relatively thinner clay sequences, such as NNL-033 with 108.5 feet (33.0 meters), provided valuable data, refining the understanding of basin geometry and geological controls, which further strengthens the resource model. Valuable hydrogeological data is to be continually collected from VWP installations in this hole, in addition to two others.
- Resource Upgrade Focus: The infill drilling successfully increased data density within the existing resource footprint, providing the necessary information to support the planned upgrade of Inferred resources to Indicated and Measured classifications – a crucial step for the PFS.
- Comprehensive PFS Data Acquired: The program systematically collected crucial data beyond primary lithium assays, including large-diameter (PQ) core for metallurgical testing, detailed geotechnical logging (conducted by CNI), and hydrogeological data including Vibrating Wire Piezometer (VWP) installations (overseen by UES). Samples will also be assayed for potential byproduct elements including Cesium (Cs), Rubidium (Rb), and Rare Earth Elements (REEs).
- Successful Operational Execution: The program was completed efficiently utilizing two drill rigs, demonstrating the Surge team’s ability to manage complex field logistics and proactively de-risk the project schedule.
Next Steps:
Core logging, cutting, and sampling are actively underway, and samples are being submitted to ALS Laboratories for assay. In addition to lithium, assays will also analyze potential byproduct elements including Cesium (Cs), Rubidium (Rb), and Rare Earth Elements (REEs). Assay results will be released once received, QA/QC validated, and interpreted.
Joint Venture Update:
Both Surge and Evolution Mining continue to work toward forming the previously announced joint venture and addressing the US federal government shutdown. In connection with these efforts, the parties have agreed to extend the exclusivity period under their previously announced letter of intent to November 21, 2025.
Mr. Greg Reimer, Chief Executive Officer and Director, commented, “We are extremely pleased with the successful completion of our 2025 drill program at Nevada North. Hitting significant thicknesses of our target claystone in every single hole provides further strong validation of this large, high-grade, and near-surface lithium deposit. This program was strategically designed as infill drilling to increase our confidence in the resource and to upgrade significant portions to the Indicated and Measured categories – a critical and foundational step required for the PFS. We look forward to receiving assay results and incorporating this new data into an updated resource estimate in the coming months.”
Qualified Persons:
Alan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the Company, and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release. Mr. Morris has verified the data disclosed respecting the drill program by reviewing all available information. There were no limitations on the verification process.
Figure 1. Drill Hole Location Map for 2025 Program
About Surge Battery Metals Inc.
Surge Battery Metals, 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 exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration.
About the Nevada North Lithium Project
The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first three rounds of drilling, completed in 2022, 2023, and 2024, 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 1500 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,955 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 $5,243/t LCE.
On behalf of the Board of Directors
“Greg Reimer”
Greg Reimer,
Director, President & CEO
Contact Information
Email: info@surgebatterymetals.com
Phone: 604-662-8184
Website: surgebatterymetals.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or “planned”, “possible”, “potential”, “forecast”, “intend”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company’s current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company’s current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
