Surge Battery Metals Announces a Renewed Agreement with New Jersey-Based Corporate Advisor and Investment Banker, Network 1 Financial Securities

VANCOUVER, BC / ACCESSWIRE / November 2, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that it has entered into a Corporate Advisory and Investment Banking Agreement with Network 1 Financial Securities, Inc. ("Network 1"). Network 1 provides capital raising, market making, M&A, and corporate advisory services, in addition to traditional retail and institutional brokerage services to its clients in North America, Asia, Australia and the UK. Network 1 has a strong reputation as an experienced and independent, full-service securities firm headquartered out of Red Bank, New Jersey but with an effective reach throughout the entire continental USA.

Mr. Greg Reimer, Surge President & CEO, states, "Having Network 1, a well-respected and trusted corporate advisory group, help us at this stage of our development will be a critical component of our success. Over the past two years that we have worked with Network 1, they have taken the time to really understand our company and our mineral projects. They offer a significant network of people that can help develop our projects from exploration to production. Network 1 has successfully helped many similar sized companies in the past and comes with an excellent industry reputation."

Network 1 has been retained by Surge to act as its corporate advisor and investment banker with respect to the development of the Company's US corporate financing and securities strategy including advising on the structure of future US private placements and to assist the Company with an overall up-listing strategy to a senior North American stock exchange.

Mr. Edward Cabrera, Network 1's Managing Director adds, "This marks our second year in which we have been engaged by the Surge team to provide US-based corporate advisory to the company. Surge is a great example of a successful energy metal exploration company and has several valuable mineral assets in North America. Lithium as you know is a very hot space right now with the commodity price seeking new highs on a month-by-month basis, and Nickel is one of the critical and abundant metals found in EV batteries today. We believe that with the right guidance and support, Surge could be an important source of lithium and nickel for the North American auto market. We plan to continue to develop the company and its valuable mineral assets for benefit of all consumers."

Mr. Cabrera has held many senior positions including investment banker, equity analyst, market strategist and portfolio manager over the past 37 years with investment banks such as Merrill Lynch, PaineWebber/UBS and Raymond James & Associates. Since 2003, he has focused on providing advisory services, merger and acquisition structuring and capital market access for middle market companies. Prior to this, he worked at Merrill Lynch for 10 years as Managing Director and Head of Latin America where he built the top-ranked team for the region, according to Greenwich Associates Survey and Latin Finance magazine polls. He received his Bachelor of Science from the University of Florida in Engineering where he graduated with honors. After the completion of his engineering degree, Ed attended Harvard Business School where he graduated with an MBA in 1987. Edward has FINRA licenses 7, 24, 63, 66, 79, 86 and 87.

About Network 1 Financial Securities, Inc.

Founded in 1983, Network 1 Financial Securities, Inc. is a full-service broker/dealer. Its clients include high net worth individuals from many countries, institutional investors, managed pension funds and hedge funds. Network 1 is committed to servicing each client on a personal level to help meet their individual financial goals.

Network 1's investment banking team has more than 100 years of combined experience, and provides services including Private Placements, PIPEs, Initial and Secondary Public Offerings, Bridge Financing, Merger and Acquisition assistance, market making and the ability to assist with up-listing to national exchanges. Network 1 is committed to being a long-term, trusted advisors for its clients. Network 1 is a member of the Financial Industry Regulatory Authority ("FINRA"), and the Securities Investor Protection Corporation ("SIPC").

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

Nevada Lithium Projects

The Company owns a 100% interest in 154 mineral claims located in Elko County, Nevada. The Nevada North Lithium Project is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance returning assay results for lithium ranging from 29.1 ppm to 5,120 ppm. Significant results included 89 samples outlining a highly anomalous zone containing sample points greater than 1,000 ppm lithium. Currently, the zone of highly anomalous lithium values extends about 1,700 meters east-west in two bands each about 300 to 400 meters wide. The anomalous values appear to be in soils developed on airfall or water lain rhyolitic tuff overlain by welded ash flow tuff.

Lithium Projects

The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada about 73 line-km north-northeast of Wells, Nevada. The Nevada North Lithium Project is host to a Thacker Pass or Clayton Valley type lithium clay deposit. Results to date have been highly encouraging with surface samples ranging up to 0.5% lithium. Drilling has recently commenced, and sample results will be announced over the coming two months.

In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16 mineral claims, The San Emidio Project, comprising 640 acres located within Nevada's San Emidio Desert, known as the Galt property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples ranging up to 852 parts per million lithium (mean 365 ppm). Results from two seven-foot-deep auger holes show lithium concentrations in the range of 143.5 to 773 ppm Li. A geophysical exploration program is being contracted and a short drill program to test for a lithium deposit is recommended.

Finally, the Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Project located in Mineral County, Nevada. The property is in an active region for both lithium exploration and production.

Nickel Projects

The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The Surge Nickel Project, Nickel North Project, consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area of central BC; the HN4 claim covers 1863 hectares immediately south of and adjacent to the Decar Project of FPX Nickel Corp and the Mitchell Range area to the north-east consisting of the N100 claim group covering 8659 hectares.

This is an exploration stage project partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral. FPX Nickel Corp. recently released the results of an internal engineering scoping study evaluating the production of nickel sulphate for the electric vehicle (EV) battery supply chain from the high-grade awaruite nickel concentrate to be produced by the company's Baptiste nickel project in central British Columbia. The study highlights FPX's potential to develop the world's largest integrated nickel sulphate production facility, linking the company directly into the EV battery supply chain via the production of low-cost, low-carbon nickel sulphate over Baptiste's projected 35-year mine life.

Surge has completed a detailed geological mapping, soil, and rock sampling survey on our nickel property, and we are planning further exploration this fall. We are fully funded for these fall exploration programs.

On Behalf of the Board of Directors

"Greg Reimer"
Greg Reimer, President & CEO
604-428-5690

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. This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.

SOURCE: Surge Battery Metals Inc.