{"success":true,"data":{"pressRelease":{"id":"122625","rtpr_id":"nNFC7kJ7Wz","ticker":"NILI","exchange":"","all_tickers":["NILI"],"title":"Surge Battery Metals Announces 2026 Drill Program to Accelerate Nevada North Bankable Feasibility Study","author":"Newsfile Corp","published_at":"2026-08-19T11:00:15.870Z","article_body":"West Vancouver, British Columbia--(Newsfile Corp. - August 19, 2026) - Surge\nBattery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the \"Company\" or\n\"Surge\") is pleased to announce that Nevada North Lithium, LLC (\"NNL\"), the\njoint venture formed by Surge and Evolution Mining Limited (\"Evolution\"), has\nfinalized its 2026 drilling program at the Nevada North Lithium Project\n(\"NNLP\" or the \"Project\"). NNL has made the necessary submission to the Bureau\nof Land Management under its 2025 Exploration Plan of Operations Permit. A\nrequest for proposals has been issued to drilling contractors, and\nmobilization is targeted for September 2026 with execution expected this fall\nand continuing into the 2027 drill season.\n\nIn addition to continuing to define and upgrade the Project's mineral\nresource, the 2026 drill program will provide necessary information and data\nfor the next stage of development, the Bankable Feasibility Study (BFS). The\ndrill program is designed to deliver condemnation drilling, pit definition,\nmine plan optimization, water supply and hydrogeological data, and\ngeotechnical data. Representative bulk tonnage material for metallurgical test\nwork and flow sheet optimization will also be collected ahead of a planned\npilot program to precede the BFS.\n\nEvolution Mining Completes Funding\n\nNNL has received an additional CA$3,200,000 advance from Evolution pursuant to\nthe terms of NNL's amended and restated operating agreement. Under the\nagreement, Surge and Evolution formed NNL to advance the NNLP with Surge\ninitially holding a 77% interest and Evolution holding a 23% interest.\nEvolution committed to fund up to CA$10,000,000 toward the Project's\npreliminary feasibility study in exchange for an additional 9.5% ownership\ninterest in NNL. With funding now complete Surge holds 67.5% of NNL, with\nEvolution holding 32.5%.\n\nMr. Greg Reimer, President, Chief Executive Officer and Director of Surge,\ncommented, \"The PFS is on schedule and on budget to be delivered in Q4 of\n2026. The recent federal government announcements and the strategic investment\nby Mike Hess and Brian Paes-Braga allow us to accelerate the BFS timeline.\nHaving defined a resource that now stands as one of the largest and highest\ngrade lithium clay deposits in the United States, and with our Preliminary\nEconomic Assessment confirming compelling Project economics, our focus in 2026\n& 2027 shifts to the engineering, metallurgical, and infrastructure work\nrequired to advance NNLP toward a construction decision.\"\n\nQualified Person as Defined Under National Instrument 43-101\n\nAlan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the\nCompany, and a Qualified Person as defined under National Instrument 43-101,\nhas reviewed and approved the technical aspects of this news release.\n\nAbout Surge Battery Metals Inc.\n\nSurge Battery Metals Inc., a Canadian-based mineral exploration company, is at\nthe forefront of securing the supply of domestic lithium through its active\nengagement in the Nevada North Lithium Project. The Project focuses on\ndevelopment of high-grade lithium energy metals in Nevada, USA, a crucial\nelement for powering battery electric storage and electric vehicles. With a\nprimary listing on the TSX Venture Exchange in Canada and a listing on the\nOTCQX Market in the USA, Surge Battery Metals Inc. is strategically positioned\nas a key player in advancing lithium exploration.\n\nAbout Evolution Mining Limited\n\nEvolution Mining is a leading, globally relevant gold miner. Evolution\noperates six mines, comprising five wholly-owned mines - Cowal in New South\nWales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia,\nand Red Lake in Ontario, Canada, and an 80% share in Northparkes in New South\nWales.\n\nAbout Nevada North Lithium, LLC\n\nNevada North Lithium, LLC, jointly owned by Surge Battery Metals Inc (67.5%)\nand Evolution Mining Limited (32.5%), owns the Nevada North Lithium Project\nsoutheast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko\nCounty. The first four rounds of drilling at the Project identified a strongly\nmineralized zone of lithium bearing clays occupying a strike length of more\nthan 4,700 meters and a known width of greater than 2,000 meters. The\nProject's updated Mineral Resource Estimate, filed June 30, 2026, reports a\npit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt\nof Lithium Carbonate Equivalent (LCE) grading 3,007 ppm Li at a 1,250-ppm\ncutoff. As disclosed in the Company's Preliminary Economic Assessment dated\nMay 19, 2025 (PEA), which is preliminary in nature and includes Inferred\nResources considered too speculative geologically to have economic\nconsiderations applied that would enable them to be categorized as Mineral\nReserves, the Nevada North Lithium Project reported an after-tax NPV8% US\n$9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE and an OPEX of US\n$5,243/t LCE (see the Company's news release dated July 24, 2025 for further\ninformation regarding the PEA).\n\nOn behalf of the Board of Directors\n\"Greg Reimer\"\nGreg Reimer,\nDirector, President & CEO\n\nContact Information\nEmail: info@surgebatterymetals.com\nPhone: 604-662-8184 (https://api.newsfilecorp.com/redirect/3KJNWuEXZb)\nWebsite: surgebatterymetals.com\n(https://api.newsfilecorp.com/redirect/N3vXzcN32a)\n\nKeep up-to-date with Surge Battery Metals:\nTwitter (https://api.newsfilecorp.com/redirect/XEOQ5cPQ2V), Facebook\n(https://api.newsfilecorp.com/redirect/DOWV8tnLKb), LinkedIn\n(https://api.newsfilecorp.com/redirect/rpL2zSqp1x), Instagram\n(https://api.newsfilecorp.com/redirect/VvLJktYArE) , YouTube\n(https://api.newsfilecorp.com/redirect/jNvq5trbZO)\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nThis document may contain certain \"Forward-Looking Statements\" within the\nmeaning of the United States Private Securities Litigation Reform Act of 1995\nand applicable Canadian securities laws. When used in this news release, the\nwords \"anticipate\", \"believe\", \"estimate\", \"expect\", \"target\", \"plan\" or\n\"planned\", \"possible\", \"potential\", \"forecast\", \"intend\", \"may\", \"schedule\"\nand similar words or expressions identify forward-looking statements or\ninformation. These forward-looking statements or information may relate to\nfuture prices of commodities including lithium, the accuracy of mineral or\nresource exploration activity, reserves or resources, the accuracy of cash\nflow forecasts, projected capital and operating costs, metal processing\nrecoveries, mine life, production rates, regulatory or government requirements\nor approvals including approvals of title and mining rights or licenses and\nenvironmental, local community or indigenous community approvals, the\nreliability of third party information, continued access to mineral properties\nor infrastructure or water, changes in laws, rules and regulations including\nin the United States, Nevada or California or any other jurisdiction which may\nimpact upon the Company or its properties or the commercial exploitation of\nthose properties, currency risks including the exchange rate of USD$ for Cdn$\nor other currencies, fluctuations in the market for lithium related products,\nchanges in exploration costs and government royalties, export policies or\ntaxes in the United States or any other jurisdiction, the completion and\noutcome of the Pre-Feasibility Study, and other factors or information. Such\nstatements represent the Company's current views with respect to future events\nand are necessarily based upon a number of assumptions and estimates that,\nwhile considered reasonable by the Company, are inherently subject to\nsignificant business, economic, competitive, political, environmental\n(including endangered species, habitat preservation and water-related risks)\nand social risks, contingencies and uncertainties. Many factors, both known\nand unknown, could cause results, performance or achievements to be materially\ndifferent from the results, performance or achievements that are or may be\nexpressed or implied by such forward-looking statements. The Company does not\nintend, and does not assume any obligation, to update these forward-looking\nstatements or information to reflect changes in assumptions or changes in\ncircumstances or any other events affecting such statements and information\nother than as required by applicable laws, rules, and regulations.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/310350","article_body_html":"","raw_payload":{"data":{"id":"nNFC7kJ7Wz","title":"Surge Battery Metals Announces 2026 Drill Program to Accelerate Nevada North Bankable Feasibility Study","author":"Newsfile Corp","ticker":"NILI","created":"2026-08-19T11:00:15.870Z","tickers":["NILI"],"exchange":"","article_body":"West Vancouver, British Columbia--(Newsfile Corp. - August 19, 2026) - Surge\nBattery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the \"Company\" or\n\"Surge\") is pleased to announce that Nevada North Lithium, LLC (\"NNL\"), the\njoint venture formed by Surge and Evolution Mining Limited (\"Evolution\"), has\nfinalized its 2026 drilling program at the Nevada North Lithium Project\n(\"NNLP\" or the \"Project\"). NNL has made the necessary submission to the Bureau\nof Land Management under its 2025 Exploration Plan of Operations Permit. A\nrequest for proposals has been issued to drilling contractors, and\nmobilization is targeted for September 2026 with execution expected this fall\nand continuing into the 2027 drill season.\n\nIn addition to continuing to define and upgrade the Project's mineral\nresource, the 2026 drill program will provide necessary information and data\nfor the next stage of development, the Bankable Feasibility Study (BFS). The\ndrill program is designed to deliver condemnation drilling, pit definition,\nmine plan optimization, water supply and hydrogeological data, and\ngeotechnical data. Representative bulk tonnage material for metallurgical test\nwork and flow sheet optimization will also be collected ahead of a planned\npilot program to precede the BFS.\n\nEvolution Mining Completes Funding\n\nNNL has received an additional CA$3,200,000 advance from Evolution pursuant to\nthe terms of NNL's amended and restated operating agreement. Under the\nagreement, Surge and Evolution formed NNL to advance the NNLP with Surge\ninitially holding a 77% interest and Evolution holding a 23% interest.\nEvolution committed to fund up to CA$10,000,000 toward the Project's\npreliminary feasibility study in exchange for an additional 9.5% ownership\ninterest in NNL. With funding now complete Surge holds 67.5% of NNL, with\nEvolution holding 32.5%.\n\nMr. Greg Reimer, President, Chief Executive Officer and Director of Surge,\ncommented, \"The PFS is on schedule and on budget to be delivered in Q4 of\n2026. The recent federal government announcements and the strategic investment\nby Mike Hess and Brian Paes-Braga allow us to accelerate the BFS timeline.\nHaving defined a resource that now stands as one of the largest and highest\ngrade lithium clay deposits in the United States, and with our Preliminary\nEconomic Assessment confirming compelling Project economics, our focus in 2026\n& 2027 shifts to the engineering, metallurgical, and infrastructure work\nrequired to advance NNLP toward a construction decision.\"\n\nQualified Person as Defined Under National Instrument 43-101\n\nAlan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the\nCompany, and a Qualified Person as defined under National Instrument 43-101,\nhas reviewed and approved the technical aspects of this news release.\n\nAbout Surge Battery Metals Inc.\n\nSurge Battery Metals Inc., a Canadian-based mineral exploration company, is at\nthe forefront of securing the supply of domestic lithium through its active\nengagement in the Nevada North Lithium Project. The Project focuses on\ndevelopment of high-grade lithium energy metals in Nevada, USA, a crucial\nelement for powering battery electric storage and electric vehicles. With a\nprimary listing on the TSX Venture Exchange in Canada and a listing on the\nOTCQX Market in the USA, Surge Battery Metals Inc. is strategically positioned\nas a key player in advancing lithium exploration.\n\nAbout Evolution Mining Limited\n\nEvolution Mining is a leading, globally relevant gold miner. Evolution\noperates six mines, comprising five wholly-owned mines - Cowal in New South\nWales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia,\nand Red Lake in Ontario, Canada, and an 80% share in Northparkes in New South\nWales.\n\nAbout Nevada North Lithium, LLC\n\nNevada North Lithium, LLC, jointly owned by Surge Battery Metals Inc (67.5%)\nand Evolution Mining Limited (32.5%), owns the Nevada North Lithium Project\nsoutheast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko\nCounty. The first four rounds of drilling at the Project identified a strongly\nmineralized zone of lithium bearing clays occupying a strike length of more\nthan 4,700 meters and a known width of greater than 2,000 meters. The\nProject's updated Mineral Resource Estimate, filed June 30, 2026, reports a\npit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt\nof Lithium Carbonate Equivalent (LCE) grading 3,007 ppm Li at a 1,250-ppm\ncutoff. As disclosed in the Company's Preliminary Economic Assessment dated\nMay 19, 2025 (PEA), which is preliminary in nature and includes Inferred\nResources considered too speculative geologically to have economic\nconsiderations applied that would enable them to be categorized as Mineral\nReserves, the Nevada North Lithium Project reported an after-tax NPV8% US\n$9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE and an OPEX of US\n$5,243/t LCE (see the Company's news release dated July 24, 2025 for further\ninformation regarding the PEA).\n\nOn behalf of the Board of Directors\n\"Greg Reimer\"\nGreg Reimer,\nDirector, President & CEO\n\nContact Information\nEmail: info@surgebatterymetals.com\nPhone: 604-662-8184 (https://api.newsfilecorp.com/redirect/3KJNWuEXZb)\nWebsite: surgebatterymetals.com\n(https://api.newsfilecorp.com/redirect/N3vXzcN32a)\n\nKeep up-to-date with Surge Battery Metals:\nTwitter (https://api.newsfilecorp.com/redirect/XEOQ5cPQ2V), Facebook\n(https://api.newsfilecorp.com/redirect/DOWV8tnLKb), LinkedIn\n(https://api.newsfilecorp.com/redirect/rpL2zSqp1x), Instagram\n(https://api.newsfilecorp.com/redirect/VvLJktYArE) , YouTube\n(https://api.newsfilecorp.com/redirect/jNvq5trbZO)\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nThis document may contain certain \"Forward-Looking Statements\" within the\nmeaning of the United States Private Securities Litigation Reform Act of 1995\nand applicable Canadian securities laws. When used in this news release, the\nwords \"anticipate\", \"believe\", \"estimate\", \"expect\", \"target\", \"plan\" or\n\"planned\", \"possible\", \"potential\", \"forecast\", \"intend\", \"may\", \"schedule\"\nand similar words or expressions identify forward-looking statements or\ninformation. These forward-looking statements or information may relate to\nfuture prices of commodities including lithium, the accuracy of mineral or\nresource exploration activity, reserves or resources, the accuracy of cash\nflow forecasts, projected capital and operating costs, metal processing\nrecoveries, mine life, production rates, regulatory or government requirements\nor approvals including approvals of title and mining rights or licenses and\nenvironmental, local community or indigenous community approvals, the\nreliability of third party information, continued access to mineral properties\nor infrastructure or water, changes in laws, rules and regulations including\nin the United States, Nevada or California or any other jurisdiction which may\nimpact upon the Company or its properties or the commercial exploitation of\nthose properties, currency risks including the exchange rate of USD$ for Cdn$\nor other currencies, fluctuations in the market for lithium related products,\nchanges in exploration costs and government royalties, export policies or\ntaxes in the United States or any other jurisdiction, the completion and\noutcome of the Pre-Feasibility Study, and other factors or information. Such\nstatements represent the Company's current views with respect to future events\nand are necessarily based upon a number of assumptions and estimates that,\nwhile considered reasonable by the Company, are inherently subject to\nsignificant business, economic, competitive, political, environmental\n(including endangered species, habitat preservation and water-related risks)\nand social risks, contingencies and uncertainties. Many factors, both known\nand unknown, could cause results, performance or achievements to be materially\ndifferent from the results, performance or achievements that are or may be\nexpressed or implied by such forward-looking statements. The Company does not\nintend, and does not assume any obligation, to update these forward-looking\nstatements or information to reflect changes in assumptions or changes in\ncircumstances or any other events affecting such statements and information\nother than as required by applicable laws, rules, and regulations.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/310350"},"type":"article","timestamp":"2026-08-19T11:00:17.08460931Z","server_sent_at_ms":1787137217084},"received_at":"2026-08-19T11:00:17.141Z","source_url":"https://www.newsfilecorp.com/release/310350"},"analysis":{"id":"111603","press_release_id":"122625","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":[],"eventType":"operations_update","narrative":"Surge Battery Metals and partner Evolution Mining finalized the 2026 drill program at the Nevada North Lithium Project, targeting mobilization in September to support a Bankable Feasibility Study.\n\nEvolution provided an additional CA$3.2M advance, fulfilling a CA$10M commitment for the preliminary feasibility study and increasing its ownership in the joint venture to 32.5%.\n\nThe project hosts a pit-constrained resource of 10.51 Mt LCE grading 3,007 ppm Li, with a Preliminary Economic Assessment outlining an after-tax NPV of $9.17 billion and a 22.8% IRR.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Drill program advances BFS timeline for major Nevada lithium project."},"keyFigures":{"customDimensions":{"width_m":2000,"lce_grade_ppm":3007,"resource_lce_mt":10.51,"strike_length_m":4700,"irr_after_tax_pct":22.8,"npv_after_tax_usd":9170000000,"opex_usd_per_t_lce":5243,"evolution_funding_cad":3200000,"evolution_total_commitment_cad":10000000,"lce_price_assumption_usd_per_t":24000}},"quotedText":"The PFS is on schedule and on budget to be delivered in Q4 of 2026.","namedEntities":{"people":[{"name":"Greg Reimer","role":"President, Chief Executive Officer and Director"},{"name":"Mike Hess","role":"Investor"},{"name":"Brian Paes-Braga","role":"Investor"},{"name":"Alan J. Morris","role":"Geological Advisor and Qualified Person"}],"products":["Nevada North Lithium Project"],"companies":[{"name":"Surge Battery Metals Inc.","ticker":"NILI"},{"name":"Evolution Mining Limited","relationship":"Joint Venture Partner"},{"name":"Nevada North Lithium, LLC","relationship":"Joint Venture"}],"dollarAmounts":[{"amount":"CA$3,200,000","context":"advance from Evolution Mining"},{"amount":"CA$10,000,000","context":"Evolution Mining commitment to PFS"},{"amount":"US $9.17 Billion","context":"after-tax NPV8%"},{"amount":"US $5,243/t","context":"OPEX"},{"amount":"$24,000/t","context":"LCE price assumption"}]},"materialImpact":{"score":3,"reasoning":"Mobilization of the 2026 drill program funded by partner Evolution Mining accelerates the Bankable Feasibility Study for a large, high-grade lithium project. The project boasts strong economics (NPV $9.17B) and substantial resource estimates, marking a significant de-risking and development milestone."},"tickerRelevance":{"others":[],"primary":"NILI"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"operational-milestone","sectorWeight":"materials"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Surge Battery Metals and partner Evolution Mining finalized the 2026 drill program at the Nevada North Lithium Project, targeting mobilization in September to support a Bankable Feasibility Study.\n\nEvolution provided an additional CA$3.2M advance, fulfilling a CA$10M commitment for the preliminary feasibility study and increasing its ownership in the joint venture to 32.5%.\n\nThe project hosts a pit-constrained resource of 10.51 Mt LCE grading 3,007 ppm Li, with a Preliminary Economic Assessment outlining an after-tax NPV of $9.17 billion and a 22.8% IRR.","key_figures":{"customDimensions":{"width_m":2000,"lce_grade_ppm":3007,"resource_lce_mt":10.51,"strike_length_m":4700,"irr_after_tax_pct":22.8,"npv_after_tax_usd":9170000000,"opex_usd_per_t_lce":5243,"evolution_funding_cad":3200000,"evolution_total_commitment_cad":10000000,"lce_price_assumption_usd_per_t":24000}},"named_entities":{"people":[{"name":"Greg Reimer","role":"President, Chief Executive Officer and Director"},{"name":"Mike Hess","role":"Investor"},{"name":"Brian Paes-Braga","role":"Investor"},{"name":"Alan J. Morris","role":"Geological Advisor and Qualified Person"}],"products":["Nevada North Lithium Project"],"companies":[{"name":"Surge Battery Metals Inc.","ticker":"NILI"},{"name":"Evolution Mining Limited","relationship":"Joint Venture Partner"},{"name":"Nevada North Lithium, LLC","relationship":"Joint Venture"}],"dollarAmounts":[{"amount":"CA$3,200,000","context":"advance from Evolution Mining"},{"amount":"CA$10,000,000","context":"Evolution Mining commitment to PFS"},{"amount":"US $9.17 Billion","context":"after-tax NPV8%"},{"amount":"US $5,243/t","context":"OPEX"},{"amount":"$24,000/t","context":"LCE price assumption"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-19T11:14:22.854Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"micro-cap","eventGravity":"operational-milestone","sectorWeight":"materials"}},"durationMs":182577,"modelName":"glm-4.7"}}