Surge Battery Metals Inc Stock Price, News & Analysis

Surge Battery Metals (OTCQX: NILIF) and a subsidiary of Evolution Mining formed a joint venture dated December 2, 2025 to advance the Nevada North Lithium Project (NNLP) via Nevada North Lithium, LLC.

Surge US contributed its NNLP mining claims; Evolution contributed a 75% interest in an 880-acre private land parcel and 75% rights in over 21,000 acres. Surge US initially holds 77% of the JV, Evolution 23%. Evolution will fund up to CAD$10,000,000 for a PFS (CAD$3,000,000 expected by Dec 5, 2025), which can increase Evolution to 32.5% ownership if fully funded.

Surge Battery Metals (OTCQX: NILIF) announced that its U.S. subsidiary, Surge Battery Metals USA, has settled all transaction documents with a subsidiary of Evolution Mining to form a joint venture to continue development of the Nevada North Lithium Project. The companies intend to close the Transaction on December 1 and 2, 2025, subject to the re-opening of requisite U.S. government offices after the Thanksgiving holiday. Surge said it will issue a further news release at the time of closing.

Surge Battery Metals (OTCQX: NILIF, TSXV: NILI) provided an update on its proposed joint venture with Evolution Mining dated November 21, 2025. The companies are finalizing documents and coordinating with third parties with the intention to form the joint venture forthwith. The joint venture has received conditional approval from the TSX Venture Exchange, with that approval stated to be subject only to customary closing conditions.

Surge (OTCQX:NILIF / TSXV:NILI) completed a nine-hole, 4,634.5-foot (1,412.6 m) 2025 infill core program at the 100%‑owned Nevada North Lithium Project. The program intersected ~1,830 cumulative feet (557.8 m) of visually favorable lithium claystone, averaging 207.4 ft (63.2 m) composite thickness per hole and a maximum composite of 353 ft (107.6 m). Five holes began within 20 ft of surface. Work gathered PQ core for metallurgical tests, geotechnical logging, and hydrogeological data including VWP installations to support a planned resource upgrade and the 2026 Pre‑Feasibility Study.

Assays are pending; the exclusivity period with Evolution Mining was extended to November 21, 2025.

Surge Battery Metals (OTCQX:NILIF / TSXV:NILI) updated its 2025 drilling program at the Nevada North Lithium Project (NNLP) and announced engagement of Cassidy & Associates for U.S. federal policy and agency outreach.

Key operational points: the nine-hole core program (started late September) is ~80% complete and aims to upgrade resources to Indicated and Measured and collect geotechnical/hydrogeological data for a planned 2026 Pre-Feasibility Study (PFS). A recent PEA reports: After-tax NPV8% of US$9.17B, IRR 22.8% at US$24,000/t LCE, OPEX US$5,243/t LCE, 42-year LOM producing 3.6 Mt LCE, average annual production 86,300 t LCE, total CAPEX US$5.32B and after-tax payback 4.6 years.

Surge Battery Metals (OTCQX: NILIF) closed a non-brokered private placement on October 15, 2025, issuing 1,851,852 Units at $0.27 per Unit for gross proceeds of $500,000. Each Unit includes one common share and one warrant exercisable at $0.37 until October 15, 2028. All securities are subject to a four-month-and-a-day hold expiring February 16, 2026. Proceeds will be used for general working capital. The sole investor was The Quaternary Group Ltd., which now holds approximately 11.3% diluted and 5.7% undiluted of outstanding shares, described as a strategic stake that the company says supports its Nevada North Lithium Project and growth strategy.

Surge Battery Metals (OTCQX: NILIF) announced on October 7, 2025 that it retained Cassidy & Associates to support U.S. federal government and agency engagement and outreach.

The firm will assist Surge as it advances the Nevada North Lithium Project, aligns project development with U.S. critical minerals policy, and pursues recently announced and upcoming funding opportunities. Management cited the completion of a Preliminary Economic Assessment and a proposed joint venture with Evolution Mining as reasons to strengthen Washington, D.C. advocacy and regulatory engagement.

Surge Battery Metals (OTCQX:NILIF) has formed a significant joint venture partnership with Evolution Mining for its Nevada North Lithium Project. The partnership includes up to $10 million in funding for a preliminary feasibility study at the project. The announcement was made during an interview with Chairman Graham Harris on CEO.CA's 'Inside the Boardroom' series.

CEO.CA, a subsidiary of EarthLabs Inc., featured this development as part of their regular coverage of junior mining companies and emerging industry leaders through their investor social network platform.

Surge Battery Metals (OTCQX:NILIF) has initiated its fall core drilling program at the Nevada North Lithium Project (NNLP). The program, executed by Premier Drilling Company of Elko, encompasses 4,500 feet (1,370 meters) of drilling across 9 holes.

The drilling will begin with 5 holes on private surface lands before moving to 4 holes on public lands. The program aims to upgrade the resource to Indicated and Measured categories while gathering geotechnical and hydrogeological data to support an upcoming Pre-Feasibility Study (PFS).