Surge Battery Metals Reports Successful Exploration Results from the N100 and HN4 Nickel Projects, British Columbia

Rhea-AI Summary

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.

Positive

• Initial exploration results show strong nickel potential in both N100 and HN4 projects.
• 41 out of 54 rock grab samples on N100 returned more than 1500ppm nickel.
• HN4 project returned 45 rock samples over 1000ppm nickel, with some exceeding 2000ppm.
• Assessment credits for exploration activities total approximately $155,000.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 9, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that initial exploration results from field work undertaken during the summer and fall of 2021, on the N100 and HN4 Nickel Projects have been filed for assessment credit totaling approximately $155,000. The N100 project is situated 120 kilometers northwest of Fort Saint James and 115 kilometers east-northeast of Smithers, British Columbia, in the Omineca Mining Division and directly south of FPX Nickel Corp.'s (FPX) Klow Project. The HN4 Project is 80 km northwest of Fort Saint James and contiguous with FPX Nickel Corps Decar Project, which hosts the Baptiste Nickel Deposit. The work program was conducted and supervised by Hardline Exploration Corp. of Smithers, British Columbia.

The 2021 program was successful in identifying numerous locations of nickel bearing ultramafic rocks on both the N100 and HN4 blocks, both by rock sampling and soil sampling. These results, coupled with the large kilometre scale magnetic anomalies of which all the samples are within, provide ample potential for the discovery of significant amounts of disseminated awaruite mineralization within the properties.

N100

Results from the 2021 work program on the N100 property indicate that the magnetic response seen in the QUEST - West airborne magnetic data is associated with nickel-chromium bearing ultramafic rocks of the Trembleur Ultramafic Unit. Prospecting along this feature consistently produced magnetic ultramafic rocks with elevated nickel-chromium values over a potentially continuous strike length of 8km.

A total of 54 rock grab samples were collected on the N100 block and analyzed with 4-acid digest and ICP-MS/AES finish for bulk rock nickel values. Of the 54 rock samples, 41 samples returned bulk nickel values greater than 1500ppm Ni. Of the 54 rock samples, 40 were selected for additional analysis with Davis Tube magnetic separation and XRF analysis to determine the nickel content of the magnetic minerals and estimate the overall Davis Tube Recoverable Nickel (DTR Ni) of the samples. In total 27 samples contained enough magnetic material to be analyzed and returned up to 0.052% DTR Ni (sample C00178737), with 15 samples returning >0.03% DTR Ni. The DTR Ni results represent the nickel content of the bulk sample recoverable by magnetic separation and indicate a portion of the nickel content is contained in magnetic minerals such as awaruite. However, nickel could also be present in the form of sulphide, within silicate minerals, or oxides. Future work will include mineralogical studies to determine the modal abundance of nickel in rocks with greater than 1500ppm nickel.

Sample ID	Easting*	Northing*	Elevation	Ni (ppm, Bulk)	DTR Ni%	Cr (ppm, Bulk)	Co (ppm, Bulk)
C00178734	343188	6125620	1696	1941	0.0430	1151	99.5
C00178736	342951	6125410	1747	2072	0.0427	1373	93.6
C00178737	342913	6125373	1751	1952	0.0520	2145	107
C00178789	343445	6126074	1654	1994	0.0461	1912	117
C00178791	343357	6126172	1683	1974	0.0443	1849	117
*WGS 84, UTM Zone 10 U

1 Rock samples returning greater than 0.04% DTR Ni, 2021 field program, Nickel 100 property

Soil sampling in the northern portion of the N100 claims highlighted zones associated with the magnetic feature which were anomalous in both nickel and chromium indicating that the underlying bedrock belongs to the nickel-chromium bearing suite of Trembleur Ultramafics. The association of nickel with chromium and iron suggests mineralization may consist of nickel-iron alloys and chromium oxides. There are notable differences in the nickel values from the three separate areas sampled. The highest values were from the northwest section where nickel values were consistently greater than 1000 ppm nickel, with all samples greater than 500 ppm nickel.

The northeastern soil grid returned generally lower values ranging from 2 - 638 ppm nickel, with the majority below 111 ppm nickel. The soil line to the south consistently returned values between 121 and 524 ppm nickel. The differences may be attributed to the differences in soil development, sampling procedures, or lithology.

The lithology in the northwest corner where soil samples were most anomalous is most certainly a nickel bearing ultramafic as evidenced by the two rock samples in the vicinity that returned 1164 and 1570 ppm nickel. No rock samples were taken at eastern grid or southern line, where soil samples returned considerably lower nickel values. The lithologies underlying these samples may be non - nickel bearing ultramafics or nickel hosted in silicate minerals. Future work should include rock samples from these grids to investigate the discrepancy between the nickel-in-soil values, as they are all within the same broader magnetic anomaly.

Results from the 2021 exploration campaign indicate anomalous nickel-in-soil at the northern extent of the claim block and confirm the presence of nickel-chromium bearing ultramafics along the strike of a geophysical magnetic feature. Davis Tube analysis suggests a portion of nickel mineralization is hosted in magnetic minerals, possibly awaruite, which comprise the nickel mineralization at the nearby Baptiste deposit. Future work should focus on determining the extent of nickel mineralization at the property scale.

Mineralogical and metallurgical studies should be conducted on targeted zones to assess the source of nickel and the relationships between structure, lithology, alteration, and mineralization style and to assess the amenability of nickel minerals to concentration techniques.

HN4

Soil sampling was conducted across geophysical magnetic anomalies identified in the QUEST - West airborne survey on the HN4 block. A total of 224 soil samples were collected on 7 lines with samples returning up to 2162ppm Ni and 1877ppm Cr. High nickel and chromium values are associated with the magnetic feature indicating the geochemical highs may result from magnetic nickel-chromium bearing ultramafic rocks.

A total of 53 rock grab samples were collected on the HN4 block returning up to 2631ppm Ni (sample C00183511) with 45 samples returning greater than 1000ppm Ni and seven samples returning greater than 2000ppm Ni.

Of the 53 samples, 36 were analyzed with Davis Tube Magnetic separation and XRF analysis. Twenty one samples returned enough magnetic material to be analyzed with a maximum DTR Ni content of 0.051% DTR Ni (sample C00183556).

Results indicate potential awaruite mineralization in nickel-chromium bearing ultramafic rocks associated with magnetic ultramafic rocks of the Trembleur Suite. Awaruite mineralization in Trembleur ultramafics provides much of the nickel in the Baptiste Deposit, and Van target on FPX Nickel Corps Decar Project, immediately northwest of the HN4 property.

Greg Reimer, Surge President & CEO states "The completion of this preliminary work program has yielded some impressive results with many samples showing over 1500 ppm Nickel. Determining the presence of nickel contained in the disseminated awaruite is the next step for our exploration program and will involve additional metallurgy on our property. Ultramafic awaruite has been shown to passively sequester the carbon in CO2, so we are very excited about the recent exploration results on our British Columbia-based nickel properties, for both their mining potential as a nickel resource and their environmental potential reducing greenhouse gases."

Qualified Person

Jacques Houle, P.Eng., a qualified person as defined by NI 43 - 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and 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.

Nevada Lithium Claims

The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.

The Company has entered into a Property Option Agreement to earn an undivided 80% interest in the San Emidio Desert Lithium Project, subject to a 2% NSR, located 60 miles Northeast of Reno, Nevada from Lithium Corporation (LTUM). The San Emidio Desert Lithium Project consists of 60 mineral claims comprising a total of 4,800 acres and is located in the San Emidio Desert.

Nickel Projects, Northern BC

The Company has entered into a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc.

The Surge Nickel Project consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).

The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

Caledonia Project, Vancouver Island, BC

The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP's past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.

On Behalf of the Board of Directors

"Greg Reimer"
Greg Reimer, President & CEO
604-428-5690

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 may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.

SOURCE: Surge Battery Metals Inc.

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FAQ

What are the exploration results for Surge Battery Metals' N100 project?

The N100 project shows strong nickel potential, with 41 out of 54 rock samples returning over 1500ppm nickel.

How much nickel was found in the HN4 project of Surge Battery Metals?

The HN4 project yielded 45 rock samples with nickel content over 1000ppm, some returning above 2000ppm.

What is the total assessment credit reported by Surge Battery Metals?

Surge Battery Metals reported assessment credits totaling approximately $155,000 for fieldwork.

What future work is planned for Surge Battery Metals' nickel projects?

Future work will focus on evaluating mineral content and potential environmental benefits related to nickel mineralization.