Vancouver, BC – April 23, 2019 – Surge Exploration Inc. (the “Company” or “Surge”) (TSXV: SUR, OTCQB:SURJF, FRA: DJ5C)announces that it has decided to refocus its corporate efforts on mineral exploration and to concentrate its exploration dollars in North America. Given this change, the Company is no longer pursuing the proposed Atacama Cobalto (cobalt) project and Incahuasi (lithium) projects and the Company has decided to close its Santiago exploration office.
Mr. Tim Fernback, Surge President & CEO, comments “Given the direction of the cobalt and lithium commodity markets lately, the Company has decided to pause its international expansion plans and refocus its resources on its Canadian properties. Management and the Board both agree that this effort should provide the biggest opportunity for Surge shareholders going forward. In particular, our exploration properties in British Columbia’s Omineca Region appear to well situated given the proposed 2019 exploration activity in the area by our neighbours.”
The Company is a Canadian-based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Canada.
Ontario Cobalt Properties (Cobalt):
The Company has an option to earn an undivided 60% interest in the Glencore Bucke Property and the Teledyne Property, located in Cobalt, Ontario Canada.
Mineral Mountain Property (Copper, Gold) British Columbia
As announced on November 28, 2018, Surge has acquired a 100% interest in9 claim blocks comprising 19,665 hectares (197 sq km)in the Omineca region of north-central British Columbia, approximately 150 km north of Fort St. James. The claims are not subject to any royalty terms, back-in rights, payments or any other agreements and encumbrances. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services.
B.C. Minfile assessment report data indicates that most of the area covered by the Omineca Group claim blocks were at one time or another covered by staking during surges of exploration in B.C. dating from the 1940’s to present day. Prominent among early discoveries in the Omineca region were the nearby Lustdust/Stardust property (Sun Metals Corp. TSX-V: SUNM) covering a large, coherent integrated porphyry-skarn, epithermal system; the Kwanika property (Serengeti Resources Inc./POSCO Daewoo TSX-V: SIR) a promising advanced stage copper-gold project; the Lorraine property (Lorraine Copper Corp. TSX-V: LLC) host to a large copper/gold NI 43-101 compliant resource. The tenures are located between the Kemess North project being developed by Centerra Gold’s subsidiary Aurico Metals and Centerra Gold’s operation Mt Milligan mine.
Hedge Hog Property, (Copper, Gold) British Columbia
The Company has an option to earn an undivided 60% interest seven mineral tenure covering 2,418 hectares (5,972 acres) located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic gold mining towns of Wells and Barkerville.
On Behalf of the Board of Directors
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 guarantees of 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.