Surge Battery Metals Inc. V.NILI

Page 88 of MRE Report hints at deal with EVOLUTION MINING

[deepoil0808]

Page 88 probably gives the biggest hint that there is a deal in process with Evolution Mining.

Body Language slip up:

- NILI states that the total drilling costs in 2025 will be $6,435,000 but of this amount, NILI will only be responsible for $5,005,000 which includes its lands at 100% and, the private lands at 25%.

-  NILI lists a column for the 50% private land with a 0% for costs assumed by Evolution Mining.

My instincts tell me, why bother to list this 0% column in the first place and, why list drilling at $ 6,435,000 but you are only paying $ 5,005,000?

This I believe is a slip up,  NEGOTIATIONS UNDERGOING and YET TO BE COMPLETED, therefore leave the area blank with 0% until completed.

I think Evolution Mining is waiting for Plan of Operations to be approved first.

Then DEAL, before PEA report, so that other bidders are beaten to the punch.   Of course NILI gets a sweet deal for keeping other competitors out.

I think Evolution Mining will get a piece of the pie for financing this project.

I also heard that the Democrats are going to approve all of the money in the Inflation Reduction Act before Trump becomes new President so that there is nothing to cut.   It means that we may get a surprise loan from DoD in addition to Evolution Mining.

Good Luck, 

[Loughatorick]

Hi Deepoil,  The 50% lands noted in Table 26-1 refer to M3 claims on public land. Please refer to Figure 26-1. Surge expects to spend $ 100,000 on soil surveys and recover $ 35,000 from M3. Evolution will pay approximately $ 1,400,000 for work done on the private lands. Presumably, Evolution is paying 75 % of the drilling, hydrological modeling and metallurgical costs being performed