SURGE BATTERY METALS INC - NILIF STOCK NEWS

Surge Battery Metals has reported positive initial exploration results from its N100 and HN4 Nickel Projects in British Columbia, with assessment credits totaling approximately $155,000. The N100 property shows potential for nickel-bearing ultramafic rocks, with 41 out of 54 rock samples returning over 1500ppm nickel. The HN4 project yielded 45 rock samples exceeding 1000ppm nickel, some above 2000ppm. Both projects indicate significant mineralization, possibly linked to the nearby Baptiste Nickel Deposit. Future work will focus on further evaluating mineral content and potential environmental benefits.

Surge Battery Metals Inc. (TSXV:NILI, OTC PINK:NILIF) has entered into a Property Option Agreement to acquire an 80% interest in the Galt Claim Group in Nevada's San Emidio Desert, comprising 16 mineral claims over 640 acres. The agreement involves a consideration of US$20,000, 1 million restricted shares, and 4 million warrants. Historical exploration indicates promising concentrations of lithium, cesium, and rubidium. The company aims to evaluate lithium brine and clay potential in the region. Approval from the TSX Venture Exchange is pending.

Surge Battery Metals has signed a Letter of Intent to acquire an 80% interest in 16 lithium mining claims, totaling 640 acres in Nevada's San Emidio Desert. The acquisition aims to enhance Surge's existing lithium assets and is subject to due diligence until January 31, 2022. The transaction includes a payment of CAD$20,000, issuance of 1,000,000 shares, and grants of 4,000,000 warrants. Previous exploration indicates significant lithium concentrations in the area, reinforcing its potential as a valuable lithium asset.

Surge Battery Metals Inc. has staked a new 663 ha property in Teels Marsh, Nevada, positioned strategically near active lithium exploration sites, including Albemarle's Silver Peak operation. Limited prior exploration indicates significant lithium content, with sediment samples showing up to 500 ppm Li. Future exploration plans include drill tests targeting lithium-rich deposits.

Metallurgical tests suggest efficient lithium recovery from the identified montmorillonite clay. The project aims to enhance the company’s lithium exploration portfolio as demand in the EV market rises.

Surge Battery Metals announced the completion of a soil sampling program at its Northern Nevada Lithium Project, collecting 445 samples due to weather constraints. Initially planned for 1,000 samples, the program faced delays from COVID and snowfall. The results will guide future exploration, targeting lithium-rich claystone deposits, with follow-ups planned for spring 2022. The project consists of 95 claims across 770 Ha, with historical lithium values reaching up to 1,980 ppm. Surge Battery also holds interests in nickel projects in British Columbia and a lithium project in the San Emidio Desert.

Surge Battery Metals Inc. has provided an update to shareholders regarding its achievements and plans for 2022. The company has successfully raised CAD$3.325 million in financing, enhancing its liquidity to approximately CAD$4.1 million. Surge is focused on exploring key minerals such as lithium, nickel, and copper, essential for the electric vehicle market, with projects located in Nevada and British Columbia. The demand for these metals is projected to increase significantly as the EV market grows, with expectations of reaching 140 million vehicles by 2035.

Surge Battery Metals has filed a technical report on its Caledonia Silver-Copper Project, dated October 30, 2021. This report adheres to National Instrument 43-101 standards and is available on SEDAR. The Caledonia Project encompasses 7 mineral claims near the historic Island Copper mine, known for extracting significant copper and other metals. The 2021 exploration established a new copper skarn trend and confirmed past assay values. Future exploration phases are planned, with Phase II estimated at $125,000 and Phase III at $245,045.

Surge Battery Metals Inc. has appointed James Hellwarth to its Advisory Board, enhancing its leadership team. Hellwarth, managing partner of Xander Capital, brings 13 years of experience in business development across various sectors, including mining and finance. His extensive network is expected to facilitate capital raises, crucial for advancing the company's interests in high-value battery metals. Surge Battery focuses on nickel-iron alloy and lithium exploration in British Columbia and Nevada, with significant mineral claims in both regions.

Surge Battery Metals Inc. has closed its acquisition of an 80% interest in the HN4 and N100 nickel claims in Northern British Columbia from Nickel Rock Resources Inc.. This agreement includes the issuance of 5,000,000 common shares and a commitment to spend $200,000 on exploration within two years. This transaction, classified as a related-party transaction, was exempt from formal valuation and minority shareholder approval due to its value being under 25% of the Company's market cap. A technical report has been filed regarding the claims.