Surge Copper Announces Renewal of Communications and Engagement Agreement with the Office of the Wet’suwet’en and Thin House of the Gilseyhu Clan

Rhea-AI Summary

Surge Copper has renewed its Communications and Engagement Agreement with the Office of the Wet’suwet’en and the Thin House of the Gilseyhu Clan of the Wet’suwet’en Nation. This agreement, a continuation of an existing partnership, formalizes protocols for communication and engagement, emphasizing mutual respect and avoiding negative impacts on Wet’suwet’en Title and Rights. It includes provisions for capacity building and economic opportunities, promoting reconciliation. CEO Leif Nilsson stated that the agreement is based on Free, Prior, and Informed Consent, with a focus on long-term relationship building and project understanding. This collaboration is important for advancing Surge's projects on traditional Wet’suwet’en territory.

Positive

• Renewed Communications and Engagement Agreement with Wet’suwet’en Nation.
• Formalizes protocols for engagement, emphasizing mutual respect.
• Provisions for capacity building and economic opportunities.
• Promotes reconciliation and long-term relationship building.
• Essential for advancing projects on traditional Wet’suwet’en territory.

Negative

• None.

Vancouver, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce that it has signed a renewed Communications and Engagement Agreement (“CEA”) with the Office of the Wet’suwet’en (“OW”) and Thin House of the Gilseyhu Clan of the Wet’suwet’en Nation. The agreement updates the longstanding collaboration that Surge and OW have maintained in good standing prior to the renewal.

The CEA formalizes the communications and protocols that Surge will use to engage with OW and its communities, focusing on mutual respect for values, perspectives, interests, and aspirations; avoiding adverse impacts on Wet’suwet’en Title and Rights; and mitigating adverse environmental and socio-economic impacts. Importantly, the CEA recognizes the Wet’suwet’en Nation’s need for a comprehensive understanding of the project at all stages of development. The CEA also includes provisions for capacity building and economic opportunities, promoting reconciliation and setting the stage for further agreements as our projects advance.

Leif Nilsson, Chief Executive Officer, commented: “Surge is committed to the principles of Free, Prior, and Informed Consent and we are enthusiastic that the Office of the Wet’suwet’en, and specifically members of the Thin House within the Gilseyhu Clan, on whose traditional territory the Berg project lies, are working with us in partnership to provide knowledge and a discussion forum as we look to advance Surge’s projects. We understand that gaining consent through project understanding, partnerships, and relationship building is a long-term effort. We are grateful for the communities’ willingness to work with us toward those goals. The entire team at Surge expresses their gratitude to the personnel and leadership at OW for their persistence and efforts in ensuring the agreement meets the needs and desires of all parties.”

About Surge Copper Corp.

Surge Copper Corp. is a Canadian company that is advancing an emerging critical metals district in a well-developed region of British Columbia, Canada. The Company owns a large, contiguous mineral claim package that hosts multiple advanced porphyry deposits with pit-constrained NI 43-101 compliant resources of copper, molybdenum, gold, and silver – metals which are critical inputs to the low-carbon energy transition and associated electrification technologies.

The Company owns a 100% interest in the Berg Project, for which it announced a maiden PEA in June 2023 outlining a large-scale, long-life project with a simple design and high outputs of critical minerals located in a safe jurisdiction near world-class infrastructure. The PEA highlights base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and US$1,800/oz gold. The Berg deposit contains pit-constrained 43-101 compliant resources of copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories.

The Company also owns a 100% interest in the Ootsa Property, an advanced-stage exploration project containing the 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, Indicated, and Inferred categories.

On Behalf of the Board of Directors

“Leif Nilsson”
Chief Executive Officer

For further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 416 2978
Email: info@surgecopper.com
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://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 planned technical work programs in support of a pre-feasibility study for the Berg‎ Project, including timing and results thereof, along with the timing for announcing same; and the Company’s plans regarding the Berg Project 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.

FAQ

What is the significance of the renewed Communications and Engagement Agreement announced by Surge Copper on July 9, 2024?

The renewed agreement formalizes communication protocols, emphasizes mutual respect, and includes provisions for capacity building and economic opportunities, essential for advancing projects on traditional Wet’suwet’en territory.

How does the new CEA affect Surge Copper's projects?

The CEA provides a framework for respectful engagement and collaboration with the Wet’suwet’en Nation, which is important for the advancement of Surge Copper's projects on their traditional territory.

Why is the renewed agreement important for Surge Copper and the Wet’suwet’en Nation?

The agreement ensures that projects are developed with mutual respect, avoiding negative impacts on Wet’suwet’en Title and Rights, and promotes reconciliation and economic opportunities.

How does Surge Copper's CEA impact shareholders?

The CEA strengthens Surge Copper's project viability through respectful engagement with the Wet’suwet’en Nation, potentially enhancing project approval and long-term success, which can positively impact shareholders.

What are the key provisions of the renewed CEA between Surge Copper and the Wet’suwet’en Nation?

Key provisions include formalized communication protocols, capacity building, economic opportunities, and a focus on mutual respect and understanding to advance projects on traditional Wet’suwet’en territory.