Surge Battery Metals Inc Stock Price, News & Analysis

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).

Surge Battery Metals (OTCQX: NILIF) has entered into a non-binding letter of intent (LOI) with Evolution Mining Limited to form a joint venture for developing the Nevada North Lithium Project (NNLP). Under the agreement, Surge will initially hold 77% ownership while Evolution will own 23%.

Evolution will contribute its 75% mineral interest in the 880-acre private land portion and additional 21,000 acres of private land mineral rights. Evolution commits to sole fund up to CAD$10 million for a Preliminary Feasibility Study (PFS), which would increase its ownership to 32.5%. The LOI includes an exclusivity period ending November 4, 2025, and requires Surge to complete a CAD$3 million equity financing.

Surge Battery Metals (OTCQX: NILIF) has announced plans for a strategic 9-hole core drilling program at its Nevada North Lithium Project, aimed at supporting a future Pre-Feasibility Study (PFS). The program, scheduled for September-October 2025, will cover approximately 4,500 feet (1,370 meters) of drilling.

The company has secured a Right of Entry and Exploration Agreement with the Salmon River Cattlemens Association for accessing five drill holes on private lands, while awaiting BLM approval for the remaining four holes. The program's primary objectives include upgrading the current Inferred Mineral Resource, with potential to convert up to 40% to the Measured category, while collecting critical geotechnical and hydrogeological data for project development.

Surge Battery Metals (OTCQB: NILIF) has signed a non-binding letter of intent (LOI) with the Salmon River Cattlemens Association (SRCA) for their Northern Nevada Lithium Project. The LOI outlines negotiations for four key agreements: long-term access for mineral exploration and mining, water rights resolution including withdrawal of SRCA's protest, development of a water resources management plan, and mitigation of mining impacts on grazing activities.

This development marks a significant step forward in securing essential land access and water rights for Surge's lithium mining operations in Nevada, following two years of dialogue with the SRCA.

Surge Battery Metals (OTCQB: NILIF) has completed the acquisition of the remaining 50% interest in the M3M Texas Springs Claims in Nevada through the issuance of 1.2 million common shares to M3 Metals Corp. This transaction gives Surge 100% ownership of these claims, which are adjacent to the company's Nevada North Lithium Project.

The deal, considered a related party transaction due to shared insiders, required and received disinterested shareholder approval on July 2, 2025. The company relied on exemptions from MI 61-101 requirements regarding formal valuation and minority approval. The transaction was completed before the extended deadline of August 30, 2025.