Surge Copper Secures Option to Acquire Key Tenements Adjacent to Berg Project

Core Viewpoint - Surge Copper Corp. has entered into a definitive option agreement to acquire a 100% interest in the MacLean East Property, securing all privately owned mineral claims necessary for the development of the Berg Project, which is a significant milestone for the company [1][2]. Acquisition Details - The acquisition expands Surge's contiguous land package from 126,758 hectares to 133,081.3 hectares, enhancing its position in the region [2]. - Surge will allocate $300,000 in assessment work credits to the MacLean East Property within 30 days and will make option payments totaling$1,685,000 to Raye Resources Inc. over five years [2]. - The option payments are structured as follows: $285,000 by the first anniversary,$550,000 by the second anniversary, $575,000 by the third anniversary,$75,000 by the fourth anniversary, and $200,000 by the fifth anniversary [2]. Financial Implications - Upon exercising the option, Surge will grant the Vendors a 3.5$6,000,000 [2]. - The agreement is subject to the approval of the TSX Venture Exchange, and any shares issued will have a statutory hold period of four months plus a day [2]. Company Overview - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning a large mineral claim package with multiple advanced porphyry deposits [3]. - The company holds a 100% interest in the Berg Project, which has a Preliminary Economic Assessment (PEA) indicating an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices [3]. - The Berg deposit contains NI 43-101 compliant resources of copper, molybdenum, silver, and gold, while the Ootsa Property also contains significant resources adjacent to the Huckleberry Copper Mine [3].