Surge Battery Metals Provides Update Regarding BCSC Notice of Hearing

(TSXV:NILI) (OTCQX:NILIF) (FSE:DJ5) Surge Battery Metals Inc. announced an update regarding a Notice of Hearing issued by the British Columbia Securities Commission (BCSC) on November 3, 2026, concerning allegations involving Graham Leslie Harris, Chairman and Director of the Company. The Notice of Hearing relates to transactions involving common shares of the Company that occurred in September 2023. The BCSC alleges that Mr. Harris sold shares of the Company during a trading blackout period prior to the public disclosure of positive preliminary exploration results from the Company's Nevada North Lithium Project. The Company stated that these are allegations only, do not constitute findings of wrongdoing, and have not been proven. Mr. Harris will respond through the applicable regulatory process and has been cooperating with the process. The Company's Board of Directors has been made aware of the Notice of Hearing and has appointed Owen Taylor as lead independent director in connection with the matter. The Company emphasized that the allegations relate to transactions in 2023 and do not concern current operations, technical results, or ongoing development activities at the Nevada North Lithium Project. Surge Battery Metals Inc. remains focused on advancing the Nevada North Lithium Project and executing its development strategy. Nevada North Lithium, LLC, which owns the Nevada North Lithium Project, is jointly owned by Surge Battery Metals Inc. (67.5%) and Evolution Mining Limited (32.5%). The Nevada North Lithium Project is located southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Elko County, Nevada, USA. The first four rounds of drilling at the Project identified a strongly mineralized zone of lithium-bearing clays occupying a strike length of more than 4,700 meters and a known width of greater than 2,000 meters. The Project's updated Mineral Resource Estimate, filed June 30, 2026, reports a pit-constrained Measured and Indicated Resource of 657.5 Mt grading 3,007 ppm Li, containing an estimated 10.5 Mt of Lithium Carbonate Equivalent (LCE), at a cutoff grade of 1,250 ppm Li. Greg Reimer is CEO, President and Director of Surge Battery Metals Inc.

Surge Battery Metals Announces 2026 Drill Program to Accelerate Nevada North Bankable Feasibility Study

(TSXV:NILI) Surge Battery Metals Inc. announced that Nevada North Lithium, LLC, the joint venture formed by Surge and Evolution Mining Limited, has finalized its 2026 drilling program at the Nevada North Lithium Project. NNL has received an additional CA$3,200,000 advance from Evolution pursuant to the terms of NNL's amended and restated operating agreement. Evolution committed to fund up to CA$10,000,000 toward the Project's preliminary feasibility study in exchange for an additional 9.5% ownership interest in NNL. With funding now complete, Surge holds 67.5% of NNL, with Evolution holding 32.5%. The Project's updated Mineral Resource Estimate, filed June 30, 2026, reports a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3,007 ppm Li at a 1,250-ppm cutoff. The Preliminary Economic Assessment dated May 19, 2025, 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. The PFS is on schedule and on budget to be delivered in Q4 of 2026.

Surge Announces Addition of Cesium-Rubidium To Nevada North Following Averages Of Up To 291ppm Rb And 125ppm Cs In Primary Horizons

(TSXV: NILI) (OTCQX: NILIF) Surge Battery Metals Inc. announced that Nevada North Lithium, LLC, the joint venture between Surge and Evolution Mining Limited, has received final analytical reruns for all 2022 and 2023 drill holes on the Nevada North Lithium Project. The results confirm geochemical continuity of Cesium (Cs) and Rubidium (Rb) across the entire deposit footprint, with average grades of 125 ppm Cs and 291 ppm Rb at a 2,000-ppm Li cut-off, and 120 ppm Cs and 277 ppm Rb at a 1,250-ppm Li cut-off. The project reported an after-tax NPV8% of 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, as disclosed in the Preliminary Economic Assessment dated May 19, 2025. The pit-constrained Measured & Indicated Resource contains an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. Surge has granted a total of 6,950,000 stock options, exercisable for five years at an exercise price of $0.70 a share. The company projects integrating Cesium and Rubidium results into the upcoming Pre-Feasibility Study (PFS) and is actively evaluating the potential to recover these as high-value co-products or by-products. The first three rounds of drilling identified a mineralized zone of lithium bearing clays with a strike length of more than 4,300 meters and a known width of greater than 1,500 meters.

Surge Battery Metals Announces Investor Relations Agreement

(TSXV: NILI) (OTCQX: NILIF) Surge Battery Metals Inc. announced that it has entered into an investor relations and marketing agreement with New Era Publishing Inc., operating as Katusa Research, to provide investor awareness and marketing services. The agreement commences July 3, 2026 and is anticipated to conclude during the first quarter of 2027. Surge Battery Metals Inc. will pay New Era Publishing total compensation of US$1,400,000 (approximately CAD$1,987,500), payable in three installments: US$400,000 (approx. CAD$567,500) by July 7, 2026; US$500,000 (approx. CAD$710,000) by November 30, 2026; and US$500,000 by January 15, 2027. No stock options, warrants or other securities will be granted by Surge as compensation under the agreement. The agreement remains subject to acceptance by the TSX Venture Exchange. The company projects advancing the Nevada North Lithium Project toward a construction decision. New Era Publishing and its principals presently do not own any securities of the company and have agreed not to trade securities of the company during the term of the engagement.

Surge Battery Metals Announces Filing of Updated Mineral Resource Estimate Technical Report

(TSXV: NILI) (OTCQX: NILIF) Surge Battery Metals Inc. announced that the updated Mineral Resource Estimate ("MRE") for the Nevada North Lithium Project has been filed on SEDAR+ and is available on the Company's website. The MRE was prepared by independent Qualified Persons Mr. Jeff Bickel, C.P.G., and Mr. Nathan Forsythe, C.P.G., of RESPEC in Reno, Nevada, and audited and verified by them. The Nevada North Lithium Project is jointly owned by Surge Battery Metals Inc (70.54%) and Evolution Mining Limited (29.46%), and is located southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Elko County. The project has a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. As disclosed in the Preliminary Economic Assessment dated May 19, 2025, the project reported an after-tax NPV8% US $9.17 Billion, after-tax IRR of 22.8% at $24,000/t LCE, and an OPEX of US $5,243/t LCE. The first three rounds of drilling 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. The company projects that highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent.

Surge Battery Metals Announces Closing of Upsized Private Placement for Gross Proceeds of $36 Million

(TSXV: NILI) (OTCQX: NILIF) Surge Battery Metals Inc. has closed its previously announced upsized non-brokered private placement for aggregate gross proceeds of $36,000,000 through the issuance of 60,000,000 units at a price of $0.60 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each warrant exercisable at $0.90 for a period of three years from the closing date. The company paid aggregate cash finder's fees of $2,039,033.20 to one finder and reported a strengthened balance sheet to approximately $75 million in cash, including proceeds from warrant exercises that expired in June. Certain directors and officers participated in the Offering by acquiring an aggregate of 1,480,000 Units for gross proceeds of $888,000. The net proceeds will be used for the advancement of the Nevada North Lithium Project, as well as for general working capital and corporate purposes. The Nevada North Lithium Project 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, with a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. The Offering remains subject to the final acceptance of the TSXV.

RK Equity Initiates Research Coverage on Surge Battery Metals

(TSXV:NILI) Surge Battery Metals Inc. announced that Matt Fernley from RK Equity Advisors LLC has initiated research coverage on the Company, with an initial report published on June 1, 2026. The Company is granting a total of 3,800,000 stock options, exercisable for a period of five years, at an exercise price of $0.70 a share to certain directors, officers and consultants. Nevada North Lithium, LLC, jointly owned by Surge Battery Metals Inc (70.54%) and Evolution Mining Limited (29.46%), owns the Nevada North Lithium Project southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County. The first four rounds of drilling at the project identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,700 meters and a known width of greater than 2,000 meters. The Preliminary Economic Assessment dated May 19, 2025 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. The Project now has a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. The company projects that highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent.

Surge Battery Metals Reports Optimization of Flowsheet Parameters and Extraction Successes at Nevada North

Surge Battery Metals Inc. (TSXV: NILI, OTCQX: NILIF) has provided an update on its metallurgical testing program for the Nevada North Lithium Project, a joint venture with Evolution Mining Limited. The company reports successful beneficiation and pre-leach optimization, with lithium extraction rates exceeding 93% under optimized leaching conditions at Kemetco. The project, owned 70.54% by Surge and 29.46% by Evolution, has a pit-constrained Measured & Indicated Resource of 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. The Preliminary Economic Assessment (PEA) reports an after-tax NPV8% of US $9.17 Billion, after-tax IRR of 22.8% at $24,000/t LCE, and OPEX of US $5,243/t LCE. The next phase of testing will focus on advanced thickening, filtration, and washing studies to support equipment selection for the Pre-Feasibility Study (PFS). These developments are aimed at de-risking the project and confirming commercial viability, which is significant for investors as the company advances toward PFS completion.

Surge Announces Resource Upgrade at Nevada North: 657.5 Mt Grading @ 3,007 ppm Li Containing 10.5 Mt LCE Measured and Indicated Including 6.7 Mt LCE @ 3,820 ppm Li

Surge Battery Metals Inc. (TSXV: NILI, OTCQX: NILIF) and Evolution Mining Limited, through their joint venture Nevada North Lithium, LLC, have announced an updated Mineral Resource Estimate (MRE) for the Nevada North Lithium Project. The project now hosts a Measured and Indicated Resource of 657.5 million tonnes grading 3,007 ppm Li, containing 10.5 million tonnes of Lithium Carbonate Equivalent (LCE). The updated MRE demonstrates an 87% conversion of the PEA mine pit into higher-confidence Measured and Indicated resource categories. The Inferred Resource hosts 271.3 million tonnes grading 2,160 ppm Li, containing 3.1 million tonnes of LCE. This update is significant as it highlights the scalability and optimization potential of the project for future development.

Surge Battery Metals Announces Application to List on NASDAQ Capital Markets

Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) announced that it has submitted an initial application to list its common shares on the Nasdaq Capital Market. The proposed listing aims to increase the company's visibility with U.S. investors, broaden its shareholder base, and enhance trading liquidity. Surge currently has approximately C$30 million in treasury, a fully funded pre-feasibility study, and a high-quality lithium asset. The company has also filed a notice of intention to be qualified to file a short-form prospectus under National Instrument 44-101. The Nasdaq listing remains subject to satisfaction of initial listing requirements and regulatory approvals.

Surge Battery Metals Inc. Announces Investor Relations and Marketing Agreements

Surge Battery Metals Inc. (TSXV: NILI, OTCQX: NILIF) announced it has entered into two investor relations and marketing agreements with Winning Media LLC and Rose & Company Holdings LLC, subject to TSX Venture Exchange acceptance. Winning Media will provide digital marketing services for an initial two-month term for a fee of US$200,000, while Rose & Co. will provide strategic investor relations services for twelve months for a total of US$100,000 and 400,000 stock options exercisable at $0.75. The company is also granting a total of 900,000 stock options to certain consultants. All agreements and compensation are subject to TSXV approval, and no services will commence until acceptance is obtained. Surge Battery Metals Inc. is focused on lithium exploration in the Nevada North Lithium Project, USA.