Surge Battery Metals Inc. V.NILI

NILI Enters into Mineral Property Purchase Agreements

[MarketMakerss]

Having emerged as a high-potential lithium opportunity with a BUY rating and $2.30 target from Sprott's SCP Equity Research, Surge Battery Metals (NILI.v NILIF) announced today that it has entered into two mineral property purchase agreements to become strategic stakeholders in private lands within its existing Nevada North Lithium Project.

Situated in NILI's Nevada North, a ~5,180 total hectare, high-grade lithium clay discovery with world-class lithium grade averaging ~3-4 times higher than its peers, the agreements are to purchase a total of 25% of the mineral rights to private lands, comprised of four parcels, totalling 880 acres.

NILI Chair and Director, Graham Harris, commented:

"The private lands are comprised of separate surface (grazing) rights and subsurface (mineral) rights. Acquiring an interest in the mineral rights ensures our place as a stakeholder in the parcels of land we surround. We would like to thank the above parties for their cooperation. We will continue to work with the remaining parties so we can include this area in future exploration and development plans."

Refer to Haywood's Report titled "Site Visit: Surge on the Verge' of Maiden MRE" for an in-depth look into Nevada North: https://clients.haywood.com/uploadfiles/secured_reports/NILISept252023.pdf?inf_contact_key=b04712fe32d76ec8c333dcbc4e0019e5680f8914173f9191b1c0223e68310bb1

With a drill program underway at Nevada North, this news follows NILI's release of its second certified assay results returned values ranging from 1,000ppm to 5820ppm lithium with the composite grade of clay horizons 15% higher than averages intersected in 2022.

The highest grade zone begins at 67.5ft below surface and extends 180ft, with an overall composite grade of 3,985.

Notably, these results follow the release of the first assay results from NILI's summer drill program which additionally returned multiple high-value zones ranging from 1,000ppm to 8070ppm lithium within 4 horizons.

With an overall average grade of 4,067 ppm Li and an overall composite grade of 4,939 ppm Li, this represents a 28% increase in weighted average composite grades compared to NILI's 2022 drill program.

As NILI Chairman and Director Graham Harris discusses in this latest interview, these are some of the highest-grade lithium results ever discovered in Nevada, emphasizing the significance of the structure drilled: https://www.youtube.com/watch?v=yTzY0zhBL7E&ab_channel=SurgeBatteryMetals

While NILI focuses on advancing its Phase 2 program at Nevada North, Harris said to expect a range of catalysts this fall as assay results are returned, ahead of the MRE in November. With the potential to increase its resource target to 4-6Mt LCE, NILI is on track for significant re-rating potential in the next 12 months as they near the PFS in the next 24 months.

Latest News Release: https://surgebatterymetals.com/surge-enters-into-agreements-to-become-strategic-stakeholder-in-private-lands-within-its-borders/

Posted on behalf of Surge Battery Metals Inc.