Surge Copper Announces Appointment of Director

Rhea-AI Summary

Surge Copper Corp. (TSXV: SURG, OTCQX: SRGXF) has appointed Leif Nilsson to its Board of Directors as part of a board renewal initiative. President Dr. Shane Ebert expressed confidence in Nilsson's strategic leadership and expertise in the mining industry. Furthermore, the board approved the grant of 2,725,000 options to employees and executives at an exercise price of $0.42, expiring in five years. Surge owns 100% of the Ootsa Property, which includes NI 43-101 compliant resources, and is earning a 70% interest in the nearby Berg Property.

Positive

• Leif Nilsson's appointment enhances the Board's strategic leadership.
• Grant of 2,725,000 options to employees may improve retention and incentivize performance.

Negative

• None.

VANCOUVER, BC, June 24, 2021 /PRNewswire/ -  Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce that as part of its ongoing board renewal initiative, it has appointed Leif Nilsson to the Board of Directors effective immediately.

Dr. Shane Ebert, President and Director, commented: "We are delighted to welcome Leif to the Surge Board. Since being recruited to the CEO role earlier this year, he has done an exemplary job in executing on the Company's strategy. His strategic leadership and expertise in the mining industry and capital markets will continue to be a huge benefit to the Company and the Board. Leif's appointment fits with Surge's overall strategy to broaden and strengthen the Board's skill sets moving forward."

The Company also announces that the board has approved the grant of 2,725,000 options to certain employees, executives, directors, and consultants of the Company. The options have been granted pursuant to the Company's option plan, are subject to vesting provisions, have an exercise price of $0.42 per share, and expire five years from the date of grant.

About Surge Copper Corp.

The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit constrained NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and Indicated categories.

The Company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits. Berg contains pit constrained 43-101 compliant resources of copper, molybdenum, and silver in the Measured and Indicated categories. Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits.

On Behalf of the Board of Directors

"Shane Ebert"
President and Director

http://www.surgecopper.com

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 contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward looking statements, including but not limited to the Company's plans regarding the Berg Property and the Ootsa Property. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals, the ability to obtain adequate financing to conduct its planned exploration programs, inability to procure labour, equipment and supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus pandemic, and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

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SOURCE Surge Copper Corp.

FAQ

What is the significance of Leif Nilsson's appointment to Surge Copper Corp. on June 24, 2021?

Leif Nilsson's appointment strengthens the Board's strategic leadership and aligns with the company's initiative for board renewal.

What financial details were revealed in Surge Copper Corp.'s press release on June 24, 2021?

The company granted 2,725,000 options to employees and executives at an exercise price of $0.42, expiring in five years.

What are the key properties owned by Surge Copper Corp. as mentioned in the June 24, 2021 press release?

Surge Copper Corp. owns the Ootsa Property, which contains compliant resources, and is earning a 70% interest in the Berg Property.

How does Leif Nilsson's expertise benefit Surge Copper Corp. according to the June 24, 2021 announcement?

His expertise in mining and capital markets is expected to greatly benefit the company and enhance strategic decision-making.