Surge Battery Metals

Surge Battery Metals Advancing High-Grade Lithium Discovery in Nevada
TSXV: NILI | OTCQX: NILIF | FSE: DJ5C

Surge Battery Metals (TSXV: NILI | OTCQX: NILIF | FRA: DJ5C) is a Canadian-based mineral exploration company active in the exploration for lithium in its Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. Surge focuses on exploration for high-value battery metals required for the electric vehicle market.

08/19/2026

Surge Battery Metals Announces 2026 Drill Program to Accelerate Nevada North Bankable Feasibility Study

🔗: http://surgebatterymetals.com/news

🇨🇦 .V | 🇺🇸 | 🇩🇪

07/08/2026

Surge Announces Addition of Cesium-Rubidium ToNevada North Following Averages Of Up To 291ppm Rb And 125ppm Cs In Primary Horizons

🔗: http://surgebatterymetals.com/news

🇨🇦 $NILI.V | 🇺🇸 $NILIF | 🇩🇪

06/30/2026

Surge Battery Metals Announces Filing Of Updated Mineral Resource Estimate Technical Report

🔗: http://surgebatterymetals.com/news

🇨🇦 .v | 🇺🇸 | 🇩🇪

06/25/2026

Surge Battery Metals Announces Closing Of Upsized Private Placement For Gross Proceeds Of $36 Million

🔗: http://surgebatterymetals.com/news

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06/03/2026

Surge Battery Metals Announces Strategic Funding To Fast Track The Nevada North Lithium Project, Co-Led By Brian Paes-Braga And Michael Hess

🔗: https://surgebatterymetals.com/news

(🇨🇦 $NILI.v | 🇺🇸 $NILIF | 🇩🇪 )

06/01/2026

New Research Initiated 🚨

from Initiates Research Coverage on Surge Battery Metals

🔗The Report: https://rkequity.com/research

(🇨🇦 $NILI.v | 🇺🇸 $NILIF | 🇩🇪 )

05/14/2026

Surge Announces Resource Upgrade At Nevada North: 657.5 Mt Grading 3,007 Ppm Li Containing 10.5 Mt LCE Measured & Indicated

Including 6.7 Mt LCE @ 3,820 ppm Li

🔗: http://surgebatterymetals.com/news

(🇨🇦 $NILI.v | 🇺🇸 $NILIF | 🇩🇪 )

A 22.8% post-tax IRR is rare in mining.For perspective: most large-scale mining projects target IRRs in the 12-18% range...
05/07/2026

A 22.8% post-tax IRR is rare in mining.

For perspective: most large-scale mining projects target IRRs in the 12-18% range to clear hurdle rates. Above 20% is unusual. Above 25% usually means a small, short-life project, not a 42-year operation.

Surge's 2025 Preliminary Economic Assessment shows Nevada North Lithium Project running a 22.8% post-tax IRR at base-case pricing of US$24,000 per tonne LCE.

How does it stack up against peers in the same category?

Per published technical reports for advanced U.S. lithium clay projects:

→ Nevada North (Surge): 22.8% IRR (PEA, 2025)
→ Thacker Pass (Lithium Americas): 20% IRR (FS, 2025)
→ McDermitt (Jindalee): 18% IRR (PFS, 2024)
→ Angel Island (Century Lithium): 17% IRR (FS, 2024)
→ Rhyolite Ridge (Ioneer): 18% IRR (FS, 2025)

The drivers behind the higher IRR are visible in the inputs. Average mined grade of 4,016 ppm Li over a 42-year life. OPEX of $5,243 per tonne LCE. A 4.6-year payback period. A strip ratio of 1.16:1.

The Pre-Feasibility Study being prepared by Fluor will pressure-test these numbers. But the underlying drivers, the grade and the geology, are in the ground today.

Surge Battery Metals (TSXV: NILI · OTCQX: NILIF · FSE: DJ5)

How do you read a lithium operating cost number?Most investors see "$5,243 per tonne LCE OPEX" and don't have a frame of...
05/04/2026

How do you read a lithium operating cost number?

Most investors see "$5,243 per tonne LCE OPEX" and don't have a frame of reference.

Here's the frame: the global cost curve for lithium production runs roughly from $5,000 per tonne LCE at the bottom (best brine operations in South America) to $15,000+ per tonne LCE at the top (marginal hard rock operations during cost cycles).

Surge's 2025 PEA puts Nevada North Lithium Project's OPEX at $5,243 per tonne LCE.

That's below the 2024 producer median ($5,377/t per 3L Capital). For a U.S. domestic operation. From a sedimentary clay deposit.

The implication for investors is that operating margin doesn't depend on lithium prices being high. At base-case pricing of US$24,000 per tonne LCE, the project's operating margin is more than 78%. Even at materially lower prices, the project remains comfortably economic.

This isn't a "this is great if lithium goes back to peak prices" project. It's a "this works at almost any plausible long-term lithium price" project.

Surge Battery Metals (TSXV: NILI · OTCQX: NILIF · FSE: DJ5)

Address

1455 Bellevue Avenue
West Vancouver, BC
V7T1C3

Opening Hours

Monday 6:30am - 2:30pm
Tuesday 6:30am - 2:30pm
Wednesday 6:30am - 2:30pm
Thursday 6:30am - 2:30pm
Friday 6:30am - 2:30pm

Telephone

+16046628184

Website

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