West Vancouver, British Columbia– Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) is pleased to announce a property purchase and sale agreement with M3 Metals Corp. (“M3M”). Under the Purchase Agreement, M3M will sell all of its interests in the Texas Springs Properties to Surge in exchange for 1,200,000 common shares of the Company.
Both Surge and M3M previously held a fifty percent stake in the Properties under a mineral property option agreement, which has now been terminated. Upon completion of the Purchase Agreement, Surge will assume full ownership of the Properties, with M3M executing quit claim deeds for the transition.
Additional details about the Properties can be found in Surge’s continuous disclosure documents filed on SEDAR and in previous news releases by the Company. The Purchase Agreement is subject to approval by the TSX Venture Exchange.
In other news, Surge has granted a total of 2,850,000 stock options to select directors, officers, and consultants, exercisable at 40 cents a share for a period of five years.
Surge Battery Metals Inc. is a Canadian-based mineral exploration company focused on securing a domestic supply of lithium through its Nevada North Lithium Project. The project aims to explore high-grade lithium energy metals in Nevada, USA – a critical component for electric vehicles. With primary listings on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge plays a key role in advancing lithium exploration for the future of the electric vehicle industry.
The Nevada North Lithium Project, situated in Elko County, Nevada, has shown promising results through drilling programs conducted in 2022 and 2023. The presence of lithium-bearing clays and extensive mineralization zones indicate significant potential for resource expansion. Final results from the 2024 drilling program will contribute to an updated resource estimate expected later this year.
Greg Reimer, President, and CEO of Surge Battery Metals Inc., can be contacted for further information at info@surgebatterymetals.com or 604-662-8184. Stay updated on Surge Battery Metals through various social media channels.
The Company cautions that certain statements in this release are considered Forward-Looking Statements and may be subject to uncertainties and risks. Updates to these statements may occur as circumstances change or new information becomes available.
Source: Surge Battery Metals Inc.
