African Rainbow Minerals Limited to Acquire Shares of Surge Copper Corp.

Group 1 - African Rainbow Minerals Limited (ARM) has signed a subscription agreement to purchase 25,781,715 common shares of Surge Copper Corp. at a price of C$0.175 per share, totaling approximately C$4,511,800.13 [1] - Following the completion of the private placement, ARM will own 68,737,482 common shares, representing approximately 19.9% of the issued and outstanding common shares on a non-diluted basis [3] - ARM's cumulative investment in Surge, including previous purchases, will amount to C$4,749,153.08 after the private placement and top-up offering [4] Group 2 - Prior to the subscription agreement, ARM held 42,955,767 common shares, which represented approximately 13.44% of the issued and outstanding common shares [2] - ARM's investment strategy includes the potential to acquire additional common shares or dispose of some or all of its holdings in Surge [4] - An early warning report will be filed by ARM in accordance with applicable securities laws [5] Group 3 - ARM is a diversified mining and minerals company based in South Africa, with operations in mining and beneficiation of various minerals [6]