Surge Battery Metals Advances 2025 Drill Program; Leverages U.S. Critical Minerals Policy

Core Insights - Surge Battery Metals Inc. is advancing its 2025 drilling program at the Nevada North Lithium Project (NNLP) to update resource estimates and support a Pre-Feasibility Study (PFS) planned for 2026 [1][2][4] - The company has engaged Cassidy & Associates to navigate U.S. federal policy and funding opportunities related to the domestic battery supply chain [4][7][8] Drilling Program - Surge is executing a nine-hole core drill program aimed at upgrading resources to Indicated and Measured categories, with completion expected by the end of October 2025 [2][3] - As of now, 80% of the drilling program has been completed, with initial observations showing promising results in lithium-bearing claystone horizons [3] Preliminary Economic Assessment (PEA) Results - The recently completed PEA indicates strong economic potential for the NNLP, with an after-tax NPV at 8% of US$9.17 billion and an IRR of 22.8% based on a lithium carbonate equivalent (LCE) price of US$24,000 per ton [6][10] - The project is expected to produce 3.6 million tons of battery-grade LCE over a 42-year mine life, with an average annual production of 86,300 tons [6] Engagement with Cassidy & Associates - Cassidy & Associates will assist Surge in advocating for federal funding opportunities, aligning with U.S. critical minerals strategies, and ensuring regulatory compliance as development progresses [7][8] - The engagement aims to enhance the company's capabilities in navigating the U.S. policy landscape [4][8] Marketing and Investor Awareness - Surge has entered into a marketing agreement with New Era Publishing Inc. for promotional services, aimed at increasing investor awareness [8]