Summary

Mine Type	Open Pit
Study Completed	Preliminary Economic Assessment
Commodities	Lithium
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	To meet the surging demand for lithium from electric vehicles, battery energy storage, and high-tech industries like robotics and automation, Surge Battery Metals is responsibly advancing the Nevada North Lithium Project. In 2025, Surge Battery Metals reported the results of Preliminary Economic Assessment Study (PEA) for the Nevada North Lithium Project. The PEA scenario envisions 2 phases, with Phase 2 comes online in Year 4 of production. The PEA confirms robust economics for a low-cost, large-scale and longlife operation producing battery-grade lithium carbonate through on-site treatment. Next Steps & Forward Strategy: Complete the 2025 drill program • Incorporate new drill data into an updated resource model and estimate; • Retain engineering firm to begin PFS in 2026; • Continuing metallurgical and environmental workstreams; • Advance PFS through 2026; • Monitor and actively pursue applicable US federal funding and grant programs.
Latest News	Surge Announces Initial JV Funding from Evolution Mining Limited     December 10, 2025

Deposit type

• Sediment-hosted

Summary:

Deposit Types
Lithium-bearing clays at the Nevada North Lithium Project (NNLP) share characteristics with the closed hydrologic system diagenesis (CHSD) model. A closed hydrologic system refers to a basin environment where hydrologic inputs are exceeded by evaporation. Closed hydrologic systems in the Great Basin are formed by either caldera collapse or divergent tectonic activity, both resulting in graben blocks suitable for lake formation. Hydrothermal circulation within the basin may contribute to the development of lithium-bearing claystone strata.

Geology
The NNLP lies in the fault-bounded Texas Spring Basin of Tertiary age. The Texas Spring Basin is filled with locallyderived sediments and felsic volcanoclastic rocks referred to as the Humboldt Formation. This basin is bounded by a ridge of Paleozoic-Mesozoic age sediments to the east and Paleozoic sediments intruded by the Jurassic age Contact Granite complex to the west and north.

The Miocene-age sedimentary sequence in the main part of the NNLP consists of a welded ash-flow tuff overlain by a sequence of interbedded clay-rich siltstone and shale punctuated by apparent air-fall tuff beds. The clay-rich sequence is capped by a layer of tuff and tuffaceous sediments with thin silicified beds. On the west and south, these rocks are covered with alluvial material derived from metamorphosed Paleozoic metasedimentary rocks and from the Jurassic-age Contact Pluton. A small igneous dome is found on the east and northeast edge of the claim block; the exact nature of the body is not well known but it appears to pre-date the mineralized claystone.

Lithium mineralization is found in three distinct horizons of silty, weakly calcareous claystone with seams of blue-grey clay. The depositional environment is lacustrine. Rocks between the lithium mineralized claystones are mostly reduced felsic air fall tuffs and tuffaceous siltstone.

Property Area Geology
Outcrop exposures are rare in the main part of the property as the Tertiary basin-filling sediments and felsic ash fall tuffs are easily weathered and form rolling hills. Abundant sage scrub and juniper vegetation further conceal the surface rock units. A prominent exposure of felsic ash fall tuff (with possible fluvial scouring and re-working of certain beds) from 10 km west of the NNLP on BLM 1099 provides a suitable visual example.

Prominent outcrops of lithium mineralization-hosting claystone are rare and these stratigraphic units are best understood from core drilling. A hill that is capped by tuff unit Ty1 overlying lithium mineralized claystone unit Cu3 provided the best field example of claystone exposure during the site visit of October 8, 2024.

Regional mapping by Coats (1987) shows an undifferentiated package of Tertiary tuffs and sediments with the patch of flows and domes on the northeast corner. Mapping by Redfern (1977) used the older term “Idavada Formation” to describe primarily the felsic flows and tuffs now more associated with the Cougar Point Tuff. The unit descriptions and measured sections by Redfern are still valid locally, as well as measured sections and age dates by Camilleri et. al. (2017). Redfern’s Opal Springs Volcanic unit is likely a member of the Cougar Point Tuff but further work including radiometric age dating is needed to confirm this and place the subunits of the Opal Springs into the regional sequence.

There is a major change in the tuffs and clastic rocks in the Redfern measured sections in Texas Spring Canyon south of the Prince Mine and the dark claystone on the NNLP property. Tuffs in the eastern part of the canyon are nearly flatlying while those on the property have a shallow west dip. The claystone units are not seen in the eastern part of the canyon, and stream sediment analyses suggest these rocks are devoid of significant lithium.

As known from core drilling, the sedimentary sequence in the main part of the property consists of a welded ash-flow tuff overlain by a sequence of interbedded clay-rich siltstone and shale punctuated by apparent air-fall tuff beds. The clay-rich sequence is capped by a layer of tuff and tuffaceous sediments with thin silicified beds. On the west and south, these rocks are covered with alluvial material derived from the Contact Pluton and associated metamorphosed Paleozoic metasedimentary rocks. A small igneous dome is found on the east and northeast edge of the claim block; the exact nature of the body is not well known but it appears to pre-date the mineralized claystone.

Mineralization is found in three distinct horizons of silty, weakly calcareous claystone with seams of blue-grey clay. The depositional environment is lacustrine. Rocks between the lithium mineralized claystones are mostly reduced felsic air fall tuffs and tuffaceous siltstone. Holes targeted completion in a basal coarse cobble to pebble conglomerate, ash flow tuff, or a Paleozoic phyllite. The lower tuff shows moderate propylitic alteration with replacement of mafic minerals by chlorite and disseminated pyrite. The basement in hole NNL-007 has coarse quartz and metamorphic rocks derived from the Contact Pluton and associated metamorphic rocks to the west. This would be consistent with a localized basin as proposed by Camilleri, et. al (2017).

In the northern part of the property, several white ash units form outcrops that cap the mineralized claystone. Superficially, these resemble the dated tuff beds in Bell Canyon measured and dated by Camilleri et al. (2017) and are exposed at a similar elevation. If these can be shown to be the same horizons, the host units (if not the mineralization in general) can be shown to have been laid down around 11 Ma.

Mineralization
In plan view, the northwest-southeast long dimension of the NNLP lithium inferred resource is 5.0 km. The widest portion is 2.8 km near the southern limit while the narrowest portion is 0.8 km near the northern limit.

Lithium mineralized claystone is typically olive green to dark green and may contain seams of a more intense blue-grey color. When wet, this clay is plastic with a potter’s clay texture.

Visual clues to possible lithium enrichment in claystone include dominance of the clay fraction over the coarser clastic component in the claystone / siltstone, the presence of megascopic disseminated white calcite crystals, and the presence of thin silica lenses or laminae which can sometimes preserve trona crystals or crystal casts; Surge geologists interpret these lenses as indurated lakebed silica gel accumulations.

Preliminary screen testing of mineralized claystone demonstrates that 98% of the lithium endowment reports to the minus 200 mesh fraction (Kappes, Cassiday & Associates, 2023). While this observation supports the conclusion that lithium resides in clay mineral(s), neither the specific mineral species nor the preferred site(s) for lithium within the clay crystal lattice are known at present.

Enrichment in cesium and rubidium correlates strongly with lithium enrichment. Somewhat weaker positive correlation is seen for magnesium and boron. Tungsten shows positive correlation with lithium content only at highest lithium grades and preferentially in the claystones of the Upper Mineralized Sequence. A correlation of molybdenum with lithium content is weak and equivocal. There is no evidence of arsenic or antimony enrichment associated with elevated lithium content.

Mining Methods

- subscription is required.

Comminution

Crushers and Mills

Processing

- subscription is required.

Water usage

Commodity Production

Operational metrics

Metrics
Annual ore mining rate	....
Annual processing rate	....
Annual processing capacity	....
Stripping ratio	....
Waste tonnes, LOM	....
Ore tonnes mined, LOM	....
Total tonnes mined, LOM	....
Tonnes processed, LOM	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Sep 6, 2025
.......................	.......................		May 19, 2025
.......................	.......................		May 19, 2025
.......................	.......................		Sep 6, 2025
.......................	.......................		Jun 9, 2025

Employees	Year
......	2025