Surge Battery Metals Stock Price, News & Analysis

SURGE BATTERY METALS INC (OTCQX: NILIF) is a Canadian-based mineral exploration company focused on lithium. According to multiple company news releases, Surge Battery Metals is engaged in advancing the Nevada North Lithium Project in Nevada, USA, with an emphasis on clean, high-grade lithium energy metals used in electric vehicles and battery energy storage. The company’s common shares are primarily listed on the TSX Venture Exchange in Canada under the symbol NILI and trade in the United States on the OTCQX Market under the symbol NILIF.

The company describes itself as being at the forefront of securing the supply of domestic lithium through active engagement in the Nevada North Lithium Project. This project is located in the Granite Range southeast of Jackpot, Nevada, approximately 73 km north-northeast of Wells in Elko County. Company disclosures state that initial drilling campaigns identified a strongly mineralized zone of lithium-bearing clays with significant strike length and width, and that highly anomalous soil values and geophysical surveys suggest potential for the clay horizons to extend beyond the currently defined area.

Core focus: Nevada North Lithium Project

Surge Battery Metals reports that it owns the Nevada North Lithium Project, and that this asset is central to its business. The project targets lithium-bearing claystone horizons and is described in company materials as hosting a pit-constrained Inferred Resource expressed in Lithium Carbonate Equivalent (LCE) at a specified cutoff grade. The company has also reported the completion of a Preliminary Economic Assessment (PEA) for the project, which includes economic metrics such as net present value, internal rate of return, and operating cost per tonne of LCE. These details are presented by the company as part of its technical and economic evaluation of the project.

Company news releases further note that multiple rounds of drilling have been completed, including infill drill programs designed to upgrade resource classifications from Inferred to Indicated and Measured, gather geotechnical and hydrogeological data, and collect bulk samples for metallurgical test work. The company highlights that drilling has repeatedly intersected lithium-bearing claystone and that the clay horizons show lateral continuity across the resource area, which Surge views as supportive of its geological model for the deposit.

Joint venture structure and partnerships

Surge Battery Metals, through its wholly owned U.S. subsidiary Surge Battery Metals USA Inc., has entered into a joint venture arrangement regarding the Nevada North Lithium Project with a subsidiary of Evolution Mining Limited. According to the company’s announcements, this joint venture is implemented through Nevada North Lithium LLC, a Nevada limited liability company. Surge states that it has contributed its mining claims and mineral rights that comprise the Nevada North Lithium Project, while Evolution has contributed mineral interests in private land within and around the project area.

The joint venture agreements, as described in company news releases, set out ownership interests, funding obligations, and governance provisions. Surge’s U.S. subsidiary is identified as the general manager of the project for so long as it holds more than a majority ownership interest in the joint venture. Evolution’s funding commitments are tied to the completion of a Preliminary Feasibility Study (PFS), and the company notes that Evolution’s ownership interest in the joint venture can increase as staged funding obligations are met. An operating committee with representatives from both parties oversees key policies, budgets, and major decisions related to the project.

Exploration, studies, and technical work

Company disclosures emphasize ongoing technical work at the Nevada North Lithium Project. Surge Battery Metals reports completing multiple drilling campaigns, including a 2025 core drilling program designed to support an upgrade of the mineral resource categories and to provide data for a planned Pre-Feasibility Study. The program objectives, as described by the company, include:

• Increasing data density within the existing resource footprint.
• Collecting geotechnical and hydrogeological data, including installations for monitoring groundwater conditions.
• Obtaining large-diameter core for metallurgical testing and analysis of lithium and potential byproduct elements.

The company also notes that its technical disclosures have been reviewed by qualified persons as defined under National Instrument 43-101, who have verified data related to drilling and resource evaluation. These qualified persons are identified in the company’s news releases as responsible for reviewing and approving technical content.

Financing and capital markets activity

Surge Battery Metals regularly uses private placements and exempt offerings to fund its exploration and study programs. In its announcements, the company describes non-brokered private placements of units consisting of common shares and share purchase warrants, with proceeds allocated to project-related costs, feasibility work, and general working capital. One such transaction referenced by the company is a listed issuer financing exemption (LIFE) offering of units, where each unit includes a common share and a fraction of a common share purchase warrant, with the warrants exercisable at a specified price for a defined term.

The company also discloses that it may pay finders’ fees in connection with certain offerings, in the form of cash commissions and finder warrants, subject to securities law and stock exchange rules. These financings are subject to approval by the TSX Venture Exchange, and securities issued under Canadian prospectus exemptions may be subject to statutory hold periods, as described in the company’s news releases.

Strategic investors and ownership

Company news releases identify The Quaternary Group Ltd. as a significant shareholder that has participated in private placements and increased its ownership through open market purchases. Surge Battery Metals reports that The Quaternary Group holds a notable percentage of the company’s common shares on both undiluted and diluted bases, and characterizes this investment as a strategic, long-term position. The company highlights this shareholder’s support as an endorsement of its Nevada North Lithium Project and overall strategy.

Engagement with policy and market awareness

Surge Battery Metals has disclosed that it engaged Cassidy & Associates, a government relations and advocacy firm, to assist with U.S. federal policy, permitting, and funding matters related to critical minerals and the domestic battery supply chain. According to the company, this engagement is intended to support outreach to federal agencies and to align the Nevada North Lithium Project with U.S. critical minerals strategies.

In addition, the company has entered into marketing and investor awareness agreements with third-party digital marketing and media firms. These arrangements, as described in company news releases, are aimed at increasing market awareness of Surge Battery Metals among potential investors through digital marketing, email campaigns, and related media exposure.

Trading venues and jurisdiction

Surge Battery Metals is identified in its news releases as a Canadian-based company with a primary listing on the TSX Venture Exchange under the symbol NILI. Its shares also trade on the OTCQX Market in the United States under the symbol NILIF and on a German exchange under the symbol DJ5 or DJ5C, depending on the specific release. The company’s core asset, the Nevada North Lithium Project, is located in Nevada, USA, while corporate announcements are issued from West Vancouver, British Columbia.

Risk and regulatory context

In its communications, Surge Battery Metals notes that its news releases may contain certain statements subject to securities law considerations, and that the TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the adequacy or accuracy of the releases. The company also notes that securities issued in its offerings may not be registered under the United States Securities Act of 1933 and may be subject to resale restrictions in the United States absent registration or an applicable exemption.

FAQs about Surge Battery Metals Inc. (NILIF)

• What does Surge Battery Metals Inc. do?
  Surge Battery Metals Inc. is a Canadian-based mineral exploration company focused on lithium. According to its news releases, the company is advancing the Nevada North Lithium Project in Nevada, USA, targeting clean, high-grade lithium energy metals used in electric vehicles and battery energy storage.
• Where are Surge Battery Metals’ shares listed?
  Company disclosures state that Surge Battery Metals has a primary listing on the TSX Venture Exchange in Canada under the symbol NILI. Its shares also trade on the OTCQX Market in the United States under the symbol NILIF, and on a German exchange under the symbol DJ5 or DJ5C.
• What is the Nevada North Lithium Project?
  The Nevada North Lithium Project is the company’s flagship lithium project located in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells in Elko County. Surge reports that drilling has identified lithium-bearing claystone horizons and that the project hosts a pit-constrained Inferred Resource expressed in Lithium Carbonate Equivalent, supported by a Preliminary Economic Assessment.
• How is Surge Battery Metals involved with Evolution Mining Limited?
  Surge Battery Metals, through its U.S. subsidiary, has entered into a joint venture with a subsidiary of Evolution Mining Limited. The joint venture, implemented via Nevada North Lithium LLC, is intended to continue the development of the Nevada North Lithium Project. Surge contributed its mining claims and mineral rights, while Evolution contributed mineral interests in private land within and around the project area.
• How does Surge Battery Metals fund its exploration activities?
  According to company news releases, Surge Battery Metals funds its activities through non-brokered private placements and exempt offerings of units consisting of common shares and share purchase warrants. Proceeds are allocated to project-related costs, feasibility studies, and general working capital, subject to approval by the TSX Venture Exchange and applicable securities regulations.
• Who are some of Surge Battery Metals’ significant shareholders?
  The company identifies The Quaternary Group Ltd. as a significant shareholder that has participated in private placements and increased its holdings through open market purchases. Surge characterizes The Quaternary Group as a strategic investor with a notable ownership position on both undiluted and diluted bases.
• What technical work has been completed at the Nevada North Lithium Project?
  Surge reports that multiple drilling campaigns, including infill core drilling, have been completed to define and upgrade the lithium resource, collect geotechnical and hydrogeological data, and obtain core for metallurgical testing. The company states that qualified persons under National Instrument 43-101 have reviewed and approved technical disclosures related to this work.
• How does Surge Battery Metals describe its role in the lithium supply chain?
  In its news releases, the company states that it is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. It emphasizes the importance of lithium as a crucial element for powering electric vehicles and battery electric storage.