Surge Battery Metals drills 80.7 metres of 4,009 ppm lithium in most southeasterly hole to date, Nevada

Surge Battery Metals Inc. [TSXV-NILI; OTCQX-NILIF; FSE-DJ5] reported the second half of certified assays results from its 2024 drilling program for the remaining four holes located on land in which the company has mineral interests at its Nevada North Lithium Project (NNLP), Nevada.

Highlights: NNL-028 returned 80.7 metres of 4,009 ppm lithium, including 71.6 metres of 5,023 ppm Li. NNL-027 returned 4.6 metres of 2,322 ppm Li.

2024 RC Drilling intersected high-grade lithium mineralization up to 8,190 ppm at the NNLP and has extended drill-indicated mineralization 1,300 metres to the south from existing holes. Lithium mineralization is shown to be deeper, thicker, and higher-grade to the south, where highly favourable clays are found 235 feet (71.6 m) below surface. These results also provide important insights into the geometry of the deposit, as faults are likely controlling the deposit boundary on the west, as suggested by holes 25 and 26.

Drilling operations proceeded smoothly and with minimal interruptions. These final four holes, all drilled as major step-outs, were designed to test for distal mineralization, water exploration, and geomorphology of the basin.

Greg Reimer, CEO and Director commented, “We are pleased with today’s results which confirmed that thick, high-grade lithium mineralization continues to the south of our resource area. We will use this data to refine our exploration efforts moving forward, as the deposit remains open to the south and east, and to inform infill drilling for our Exploration Plan of Operations for 2025. The 2024 drilling results will be incorporated into an updated and expanded resource estimate, which will be released mid to late September.”

An option agreement between M3 Metals Corp. [TSXV-MT; OTCQB-MLGCF; FSE-X0V] and Surge Battery Metals requires Surge to execute exploration activities on M3 ground. These two holes were selected to test the extension of mineralized clays to these sites, potentially obscured by alluvium. Exploration for water diversion was included in the plan and was a factor in site selection for NNL-025.

NNL-025 was drilled to 800 feet (243.8 meters) and assays returned 10 feet (3.1 metres) of mineralized altered tuffs at an average grade of 1,121 ppm Li. Drilled on the ground shared with M3 Metals, this hole is a major step-out with no nearby soil geochemistry or geophysics data.

Composite lithium values for the mineralized horizons, with no internal dilution, are 3.1 metres of 1.121 ppm lithium.

NNL-026 was drilled to 800 feet (243.8 metres) and penetrated a variety of alluvium dominated by older igneous and metamorphic rocks. Another major step-out and nearly 700 feet (213.3 metres) higher in elevation than the nearest hole previously reported, this hole was also drilled on ground shared with M3 Metals and has no nearby soil or geophysical data. No mineralized rocks were found in this hole, and a major basin-bounding fault is likely to be located nearby, with its surface expression obscured by alluvium.

The 8-hole 2024 RC Drilling Program has achieved five significant goals: Confirmed additional extension of the known deposit to the south, west, and east of the southernmost drilling executed on the project, resulting in an increased footprint of the mineralized zone of up to 849 acres (3.44 sq km).

Continued to confirm the lateral continuity of the mineralized layers, continuing to increase confidence in interpretations of data showing continuous stratiform Li clay layers, the boundaries of which remain to the south and the east.

Further refined geologic interpretations and understanding of the paleo lake that formed the deposit, including controls on depositional boundaries and thickening of clay layers.

Outlined new high-grade and near-surface exploration targets to the south and the east, providing further opportunities to expand and develop the project.

Identified potential structural complexities and basin geomorphology, advancing our understanding of the project geology. These interpretations are critical for developing future exploration and mine plans and will be used to guide activities moving forward.

The drilling demonstrated that high grade exploration remains to be tested.

The Nevada North Lithium Project is located in the Granite Range southeast of Jackpot, Nevada, 73 km north-northeast of Wells, Elko County. The first two rounds of drilling, completed in 2022 and 2023, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 3,000 metres and a known width of up to 950 metres. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 4.67Mt of Lithium Carbonate Equivalent (LCE) grading 2,839 ppm Li at a 1,250 ppm cutoff.