Surge Battery Metals Announces Appointment of Mr. Graham Harris as Director

Rhea-AI Summary

Surge Battery Metals Inc. (TSXV:NILI)(OTC PINK:NILIF) announced the appointment of Graham Harris to its Board of Directors. Harris, with over 40 years in finance, previously led Millennial Lithium Corp., acquired for $490M by Lithium Americas. His expertise includes raising over $400M for various companies and holding senior positions at Canaccord Genuity Corp. and Yorkton Securities. President and CEO Greg Reimer expressed enthusiasm regarding Harris's commitment and experience, essential for advancing Surge's flagship Nevada North Lithium Project. The project boasts significant drilling results, including a zone averaging 3,254 ppm lithium. Surge also announced granting 1.5 million stock options at 25 cents each to directors and officers.

Positive

• Appointment of Graham Harris, a seasoned finance professional and former director of Millennial Lithium Corp., enhances the board's expertise.
• Harris's experience in raising over $400M will aid Surge's project development and financing efforts.
• Strong preliminary drilling results at the Nevada North Lithium Project emphasize its potential, with the highest lithium content recorded at 5,950 ppm.

Negative

• Potential concerns about continuity or experience gaps following management changes.
• -

WEST VANCOUVER, BC / ACCESSWIRE / April 24, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that Mr. Graham Harris, B.A, has joined the Board of Directors of the Company.

Mr. Harris was the Founder, Chair and Director of Millennial Lithium Corp., which was recently acquired by Lithium Americas (TSX: LAC) for $490M. Mr. Harris has over 40 years' experience in the finance industry, including as a senior VP of Canaccord Genuity Corp. (1999-2004) and as a senior VP and partner of Yorkton Securities (1989-1999). He has directly raised over $400 million in development and venture capital for public and private companies. He was a founder of Cap-Ex Iron Ore Ltd. and a founding director of M2 Cobalt Corp which was acquired by Jervois Global Ltd. Graham is currently Senior VP, Capital Markets and a director of Millennial Potash Corp (TSX_V: MLP.).

Greg Reimer, President, and CEO commented "We are delighted that Graham has taken the decision to join the Board of Surge Battery Metals. In doing so he demonstrates his commitment to assist Surge in the growth and development of the Company and its flagship asset, the Nevada North Lithium Project. Graham brings valuable expertise and a track record of the experience necessary for the Company to take the Nevada North Lithium Project from the current exploration stage through to the feasibility study stage. We are looking forward to Graham's contributions to our Board as we accelerate our exploration and development activities at the Nevada North Lithium Project".

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns a 100% interest, without any royalties, in the Nevada North Lithium Project, consisting of 243 mineral claims, located in the Granite Range southeast of Jackpot, about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters from drillhole NN2205 in the north to drill hole NN2208 in the south. Widths of the mineralized horizons are not well determined since the holes are mostly on a north-south alignment, however, widths are at least 400 metres, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the results of drillhole NN2207 which intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 metres (395 feet) averaging 3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the strongest downhole individual sample of 5,950 ppm lithium between 45 and 50 feet (13.72 and 15.24 metres). The average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm.

Grant of Stock Options

The Company wishes to announce that it has granted a total of 1,500,000 stock options, exercisable for a period of five years, at an exercise price of 25 cents a share to certain directors and officers.

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under Nation Instrument 43-101 has reviewed and approved the technical aspects of this news release.

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email: info@surgebatterymetals.com
Phone: 778-945-2656
Website: surgebatterymetals.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 document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

SOURCE: Surge Battery Metals Inc.

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FAQ

What does Graham Harris's appointment mean for Surge Battery Metals (NILIF)?

Graham Harris's appointment enhances the board's expertise, particularly in financing and project development, which is crucial for advancing Surge's operations.

What is the significance of the Nevada North Lithium Project for Surge Battery Metals?

The Nevada North Lithium Project has demonstrated significant lithium mineralization, with strong drilling results indicating its potential for future development.

How much lithium was found in the latest drilling at the Nevada North Lithium Project?

The latest drilling indicated an average of 3,254 ppm lithium across near-surface clay zones, with a peak of 5,950 ppm.

What financial impact does the grant of stock options have for Surge Battery Metals?

The grant of 1.5 million stock options at 25 cents each to directors and officers aligns their interests with shareholders and incentivizes long-term performance.