Surge Announces 99.95% Battery-Grade Lithium Carbonate from Nevada North

Surge advances Nevada North toward prefeasibility with a full ore-to-battery-grade flowsheet and commits to a sizable new marketing program.

Rhea-AI Summary

Surge Battery Metals (NILIF)/b) reported production of battery‑grade lithium carbonate at 99.95% Li2CO3 from its Nevada North joint venture ore. Kemetco Research produced a crude lithium carbonate grading 99% Li2CO3 from the NNLP Master Composite via beneficiation, sulfuric acid leaching, purification and carbonate precipitation, and Chemshift Technologies refined a portion to 99.95% Li2CO3, demonstrating a continuous ore‑to‑battery‑grade flowsheet using conventional unit operations ahead of the prefeasibility study. Metallurgical work showed lithium extractions above 93% at 475 kg/t acid addition and about 98% at higher acid, with leaching completed within one hour at 90°C, while beneficiation recovered 98.9% of lithium into the fine fraction and rejected roughly 75% of carbonate gangue. Surge also entered a 12‑month marketing agreement with Outside The Box Capital worth up to US$500,000 and granted 700,000 stock options at C$1.02, subject to TSXV approval, and corrected prior disclosures to clarify recent options were granted only to consultants.

Positive

• Battery-grade product refined to 99.95% Li2CO3 from Nevada North ore
• Crude lithium carbonate produced at 99% Li2CO3 via conventional processing steps
• Lithium extraction exceeded 93% at 475 kg/t acid, ~98% at higher acid
• Beneficiation recovered 98.9% of lithium while rejecting ~75% carbonate gangue
• Marketing investment up to US$500,000 over 12 months to expand outreach

Negative

• Cash outlay of up to US$500,000 for marketing funded from working capital
• Potential dilution from 700,000 stock options exercisable at C$1.02 for 5 years

News Explained

The release adds a commenced marketing contract of up to US$500,000 and 700,000 conditional options as Nevada North advances toward pilot work.

Surge reports that Nevada North ore has been processed into 99.95% lithium carbonate, while its marketing agreement with Outside The Box Capital commenced on September 14, 2026; the agreement provides for payments from working capital and includes 700,000 options that could increase shares outstanding if exercised. The project remains in work supporting its prefeasibility study, with pilot-scale testing next.

The marketing agreement runs for up to 12 months in two six-month periods. It provides for US$250,000 per period, or US$500,000 for the full term, but either party may terminate during the first period on 30 days' notice, so the release does not establish that the full amount will be paid.

The option grant is for exercise at C$1.02 per common share for five years, with quarterly vesting and cancellation of unvested options on termination; the grant remains subject to TSX Venture Exchange and equity incentive plan approval.

The reported processing chain is a technical milestone, but the company says pilot work will still test recovery, consistency, reagent consumption and energy performance before the prefeasibility study is completed.

The named follow-up points are TSX Venture Exchange approval of the agreement and options, and the pilot-scale results supporting completion of the prefeasibility study.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

09/15/2026 - 07:00 AM

Demonstrates a Complete Ore-to-Battery-Grade Flowsheet Ahead of Prefeasibility Study

West Vancouver, British Columbia--(Newsfile Corp. - September 15, 2026) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that Nevada North Lithium, LLC ("NNL"), the joint venture formed by Surge and Evolution Mining Limited, refined lithium carbonate produced from NNL ore to a battery-grade product reported at 99.95% Li2CO3.

Kemetco Research Inc. ("Kemetco") produced a crude lithium carbonate assaying 99% Li2CO3 directly from the NNLP Master Composite through beneficiation, sulfuric acid leaching, solution purification and carbonate precipitation, as part of the metallurgical program supporting the Project's prefeasibility study ("PFS"). A portion of that carbonate was then refined by Chemshift Technologies Inc. of Calgary, Alberta, to a battery-grade product reported at 99.95% Li2CO3. Together the two programs demonstrate a continuous flowsheet from run-of-mine ore to a refined battery-grade product using conventional unit operations, reducing technical risk as the Project advances toward completion of the PFS.

Highlights

• Battery-grade product achieved. Crude lithium carbonate produced from Nevada North clays was refined to a product reported at 99.95% Li2CO3.

• Complete flowsheet demonstrated. Kemetco produced a 99% Li2CO3 product directly from the NNLP Master Composite through beneficiation, leaching, impurity removal and carbonate precipitation. The subsequent refining step on the same material demonstrated that battery-grade material can be produced from Project clays using conventional unit operations.

• Strong lithium extraction. Sulfuric acid leaching of beneficiated Project material achieved lithium extractions exceeding 93% at an acid addition of 475 kg/t of beneficiated feed, increasing to approximately 98% at a higher acid addition. Leach kinetics were rapid, with leaching complete within one hour of reaching the 90°C target temperature.

• Effective beneficiation. Mild attrition followed by screening recovered 98.9% of the lithium into the fine (-20 µm) fraction while rejecting approximately 75% of the acid-consuming carbonate, confirming the material's amenability to beneficiation ahead of the leach circuit.

Mr. Greg Reimer, President, Chief Executive Officer and Director of Surge, commented, "Producing battery-grade lithium carbonate from Nevada North ore is a significant step for the Project. We have now demonstrated the full chain - from sedimentary clay in the ground, through a conventional leach and purification circuit, to a refined product that meets battery-grade specifications. That outcome supports the flowsheet our engineers have been developing through the prefeasibility study. Our focus now turns to pilot-scale work, where we will test recovery, consistency, reagent consumption and energy performance under continuous operating conditions."

The Company also announces it has entered into a marketing services agreement dated September 14, 2026 (the "Agreement") with Outside The Box Capital Inc. ("OTBC"), an Ontario-based marketing firm with an office at 2202 Green Orchard Place, Oakville, Ontario. OTBC will assist the Company with marketing strategy, social-media engagement, the distribution of Company-approved information through online platforms and the production of influencer, question-and-answer and corporate-highlight videos. The engagement commenced on September 14, 2026 and has a term of 12 months, divided into two six-month periods. Either party may terminate the Agreement during the initial six-month period upon 30 days' notice, and if the Agreement is not terminated in the initial six-month period, then the Agreement will continue for the subsequent six-month period. The Company will pay OTBC US$250,000 plus applicable taxes for each six-month period (aggregate cash payments of US$500,000 for the full 12-month term of the Agreement), with the payments funded from the Company's working capital. Subject to the approval of the TSX Venture Exchange and the Company's equity incentive plan, The Company has also granted OTBC 700,000 stock options, each exercisable at C$1.02 per common share for a period of 5 years. The options will vest in equal quarterly instalments over 12 months in accordance with applicable TSX Venture Exchange requirements, and any unvested options will be cancelled if the Agreement is terminated for any reason. OTBC is owned and controlled by Jason Coles, is arm's length to the Company and, together with its principals, does not currently own any securities of the Company other than the options described above and has no other present right or intention to acquire an interest in the Company. The Agreement remains subject to the approval of the TSX Venture Exchange.

The Company wishes to correct its news releases dated July 8, 2026, and September 10, 2026, which stated that stock options were granted to certain directors, officers and consultants of the Company. The options were granted solely to consultants of the Company, and no options were granted to any directors or officers. All other terms of the option grants and the previous news releases remain unchanged.

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, Geological Advisor to the Company, and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release. Mr. Morris has relied on the reports and data provided by Kemetco and Chemshift with respect to the metallurgical and analytical results disclosed.

About Surge Battery Metals Inc.

Surge Battery Metals Inc., a mineral exploration company at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering electric vehicles. With a primary listing on the TSX Venture Exchange and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration.

About Evolution Mining Limited

Evolution Mining is a leading, globally relevant gold miner. Evolution operates six mines, comprising five wholly-owned mines - Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80% share in Northparkes in New South Wales.

About Nevada North Lithium, LLC

Nevada North Lithium, LLC, jointly owned by Surge Battery Metals Inc (67.5%) and Evolution Mining Limited (32.5%), owns the Nevada North Lithium Project southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County. The first four rounds of drilling at the project identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,700 meters and a known width of greater than 2,000 meters. The Project's updated Mineral Resource Estimate, filed June 30, 2026, reports a pit-constrained Measured & Indicated Resource containing an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3,007 ppm Li at a 1,250-ppm cutoff. As disclosed in the Company's Preliminary Economic Assessment dated May 19, 2025 (PEA), which is preliminary in nature and includes Inferred Resources considered too speculative geologically to have economic considerations applied that would enable them to be categorized as Mineral Reserves, the Nevada North Lithium Project reported an after-tax NPV8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE and an OPEX of US $5,243/t LCE.

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
Director, President & CEO

Contact Information
Email: info@surgebatterymetals.com
Phone: 604-662-8184
Website: surgebatterymetals.com

Keep up-to-date with Surge Battery Metals: Twitter, Facebook, LinkedIn, Instagram, and YouTube. 

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium, the accuracy of mineral or resource exploration activity, reserves or resources, the accuracy of cash flow forecasts, projected capital and operating costs, metal processing recoveries, metallurgical test results and their applicability at pilot, demonstration or commercial scale, mine life, production rates, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction, and other factors or information.

Forward-looking statements in this news release also include statements regarding the characterization of the lithium carbonate product as battery grade and its suitability for customer qualification, the ability to reproduce the metallurgical results described herein at larger scale, the timing, scope and results of the planned pilot-scale program, the timing and outcome of the prefeasibility study, and the development of the Project generally. Metallurgical test results described in this news release were obtained at bench and small scale on limited sample quantities and may not be representative of results achievable at pilot, demonstration or commercial scale. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water-related risks) and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314353

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What processing steps were used to produce the 99% crude lithium carbonate?

Kemetco produced the 99% Li2CO3 crude product directly from the NNLP Master Composite using beneficiation, sulfuric acid leaching, solution purification/impurity removal and carbonate precipitation as part of the metallurgical program supporting the prefeasibility study.

How effective was beneficiation of Nevada North material before leaching?

Mild attrition followed by screening recovered 98.9% of the lithium into the fine (<20 µm) fraction while rejecting approximately 75% of acid‑consuming carbonate, confirming amenability to beneficiation ahead of the leach circuit.

What are the main commercial terms of the marketing agreement with Outside The Box Capital?

The agreement with OTBC commenced on September 14, 2026 for a 12‑month term split into two six‑month periods. Surge will pay US$250,000 plus taxes per six‑month period, for aggregate cash payments of US$500,000 if the full term is completed. Either party may terminate during the initial six‑month period on 30 days’ notice, otherwise it continues for the second six months, and the agreement remains subject to TSX Venture Exchange approval.

What equity incentives were granted to Outside The Box Capital?

Subject to TSX Venture Exchange approval and the equity incentive plan, Surge granted OTBC 700,000 stock options, each exercisable at C$1.02 per common share for 5 years. The options vest in equal quarterly instalments over 12 months, and any unvested options are cancelled if the marketing agreement is terminated for any reason.

How did Surge correct its previous disclosures on stock option grants?

Surge corrected its July 8, 2026 and September 10, 2026 news releases to clarify that the referenced stock options were granted solely to consultants. No options were granted to any directors or officers, and all other terms of the grants and prior releases remain unchanged.