West Vancouver, British Columbia--(Newsfile Corp. - November 3, 2026) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce its proposed corporate name change to "Lithium X2 Mining Inc." and to provide an update regarding its plans to pursue a Nasdaq listing in 2027.

Corporate Name Change to Lithium X2 Mining Inc.

The Company announces that it intends to change its corporate name from Surge Battery Metals Inc. to Lithium X2 Mining Inc., subject to receipt of all required regulatory approvals, including acceptance by the TSX Venture Exchange (the "TSXV").

The proposed name change reflects the Company's continued evolution and strategic focus on advancing its flagship Nevada North Lithium Project in Elko County, Nevada, toward development and potential commercial production.

There will be no consolidation of the Company's issued and outstanding common shares in connection with the name change. The Company anticipates that its common shares will commence trading under the new corporate name on or about November 9, 2026, subject to TSXV acceptance. The Company will announce its new trading symbol and CUSIP number once confirmed.

Registered shareholders will not be required to take any action in connection with the name change. Existing share certificates and direct registration statements representing common shares of Surge Battery Metals Inc. will continue to represent the same number of common shares of Lithium X2 Mining Inc. following the name change.

Nasdaq Listing Update

The Company will continue to pursue a listing on the Nasdaq Capital Market in 2027, subject to market conditions, satisfaction of applicable listing requirements and receipt of all necessary regulatory approvals. The Company remains committed to expanding its institutional investor base, enhancing trading liquidity and increasing its visibility within the investment community.

Management believes that a potential Nasdaq listing would represent an important milestone in the Company's continued growth and development, providing an opportunity to broaden its investor base, increasing its exposure to U.S. institutional investors and enhancing its access to North American capital markets.

Any listing on Nasdaq will be subject to the Company satisfying all applicable listing requirements and obtaining the necessary regulatory approvals. There can be no assurance that such listing will be completed within the anticipated timeframe or at all.

Graham Harris, Chairman of Surge Battery Metals, commented: "Our proposed name change to Lithium X2 Mining Inc. reflects the transformation of the Company and our focus on developing a significant domestic lithium resource. With the continued advancement of our Nevada North Lithium Project, we believe the new name better represents our long-term vision and the opportunity ahead.

This rebranding also represents an important step toward aligning the Company's corporate identity with the strategic vision of our advisors, who are working closely with management to position Lithium X2 Mining Inc. for its next phase of growth. We believe their guidance and expertise will play an important role as we continue to advance our project and strengthen our presence in the North American capital markets.

We remain focused on advancing our Nevada North Lithium Project while continuing to expand our reach within the investment community. Our intention to pursue a Nasdaq listing in 2027 reflects our confidence in the Company's long-term potential and our commitment to broadening our institutional investor base, enhancing liquidity and creating long-term value for our shareholders."

About Surge Battery Metals Inc.

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

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 74 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 and Indicated Resource of 657.5 Mt grading 3,007 ppm Li, containing an estimated 10.5 Mt LCE, at a cut-off grade of 1,250 ppm Li.

On Behalf of the Board of Directors

"Graham Harris"
Chairman and Director

Forward-Looking Statements

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws, including statements regarding the proposed corporate name change, the anticipated effective date of the name change, the commencement of trading under the new corporate name, the Company's intention to apply for a listing on the TSX, its intention to pursue a Nasdaq listing in 2027, and the advancement and development of the Nevada North Lithium Project.

Forward-looking statements are based on management's current expectations, estimates, assumptions and beliefs and are subject to known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. These factors include, among others, regulatory and stock exchange approvals, capital market conditions, the Company's ability to satisfy applicable listing requirements, project development risks, financing requirements and other risks associated with mineral exploration and development.

There can be no assurance that the proposed name change, TSX listing or Nasdaq listing will be completed within the anticipated timeframes or at all. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.

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.

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