Mr. Greg Reimer reports

SURGE BATTERY METALS ANNOUNCES $15M NON-BROKERED LIFE OFFERING OF UNITS

Surge Battery Metals Inc. will be offering a non-brokered private placement (listed issuer financing exemption offering) of units at a price of 90 cents per offered unit for aggregate gross proceeds of $15,000,030 (16,666,700 offered units). Each offered unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of $1.35 at any time following 60 days after the date of issuance until the date which is three years from the date of issuance. The company intends to use the proceeds of the LIFE offering for additional costs related to its preliminary feasibility for its Nevada North lithium project, costs for a definitive feasibility study for the project, and general working capital. In connection with the LIFE offering, 3L Capital Inc. is acting as financial adviser to the transaction. The LIFE offering is expected to close on or about Feb. 3, 2026.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the LIFE offering is being made to purchasers resident in each of the provinces of Canada (other than Quebec) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Securities issued under the LIFE offering will not be subject to a statutory hold period under applicable Canadian securities laws, in accordance with the listed issuer financing exemption under Part 5A of NI 45-106 and the blanket order. There is an offering document related to the LIFE offering that can be accessed under the company's SEDAR+ profile and on the company's website. Prospective investors should read this offering document before making an investment decision.

Graham Harris, chairman of Surge Battery Metals, commented: "This financing represents a significant vote of confidence in Surge's strategy and in the continued advancement of our Nevada North lithium project. The LIFE structure allows us to broaden participation among Canadian investors while strengthening our balance sheet at a critical stage of project development. With these funds, the company is well positioned to aggressively advance exploration and technical work as we continue building a leading domestic lithium platform in Nevada."

The company may pay finders' fees in connection with the LIFE offering, as permitted by applicable securities laws and the rules of the TSX Venture Exchange. The finders' fees will consist of cash commissions equal to up to 6 per cent of the gross proceeds raised from purchasers introduced to the company by eligible finders and finder warrants equal to up to 6 per cent of the aggregate number of offered units sold to purchasers introduced to the company by eligible finders (excluding any units that may be purchased by the eligible finder). Each finder warrant will be exercisable for one common share at an exercise price of $1.35 per common share for 36 months following the date of issuance.

The closing of the LIFE offering is subject to receipt of the approval of the TSX-V.

About Surge Battery Metals Inc.

Surge Battery Metals, a Canadian-based 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 exploring for clean, high-grade lithium energy metals in Nevada, United States, a crucial element for powering electric vehicles. With a primary listing on the TSX-V in Canada and the OTCQX market in the United States, Surge Battery Metals is strategically positioned as a key player in advancing lithium exploration.

We seek Safe Harbor.