Mr. Greg Reimer reports

SURGE BATTERY METALS ANNOUNCES FILING OF UPDATED MINERAL RESOURCE ESTIMATE TECHNICAL REPORT

Further to Surge Battery Metals Inc.'s news release dated May 15, 2026, the updated mineral resource estimate (MRE) for the company's flagship Nevada North lithium project has now been filed on SEDAR+ and is available on the company's website.

Qualified person as defined under National Instrument 43-101

The MRE was prepared for Nevada North Lithium LLC by independent qualified persons (QPs) as defined under NI 43-101. The independent QPs were Jeff Bickel, CPG, and Nathan Forsythe, CPG, of Respec in Reno, Nev.

Mr. Bickel and Mr. Forsythe have reviewed the sampling, assaying and security procedures used by Surge at Nevada North, and it is their opinion that they follow industry standard procedures and are adequate for the estimation of the current MRE and for use in preparing the technical report.

Mr. Bickel and Mr. Forsythe completed an audit of the database and verified data underpinning the MRE. Mr. Forsythe visited the project site on Nov. 4 and Nov. 5, 2025.

Nevada North Lithium exploration activities are supervised by Alan J. Morris, CPG, geological adviser to the company. Mr. Morris is a qualified person as defined under NI 43-101. Mr. Morris has reviewed and approved the technical contents of this news release.

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 development of high-grade lithium energy metals in Nevada, United States, a crucial element for powering battery electric storage and electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and a listing on the OTCQX Market in the U.S., Surge Battery Metals is strategically positioned as a key player in advancing lithium exploration.

About Evolution Mining Ltd.

Evolution Mining is a leading, globally relevant gold miner. Evolution operates six mines, comprising five wholly owned mines -- Cowal in New South Wales, Ernest Henry and Mt. Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80-per-cent share in Northparkes in New South Wales.

About Nevada North Lithium LLC

Nevada North Lithium, jointly owned by Surge Battery Metals (70.54 per cent) and Evolution Mining Ltd. (29.46 per cent), owns the Nevada North lithium project southeast of Jackpot, Nev., about 73 kilometres north-northeast of Wells, Elko county. The first three rounds of drilling at the project identified a strongly mineralized zone of lithium-bearing clays occupying a strike length of more than 4,300 metres and a known width of greater than 1,500 metres. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. As disclosed in the company's preliminary economic assessment dated May 19, 2025 (PEA), completed jointly by M3 Engineering & Technology Corp. and Independent Mining Consultants (see the company's news release dated July 24, 2025, for further information regarding the PEA), the Nevada North lithium project reported an after-tax NPV 8 per cent (net present value, 8-per-cent discount rate) $9.17-billion (U.S.) and after-tax IRR (internal rate of return) of 22.8 per cent at $24,000/tonne LCE (lithium carbonate equivalent) and an opex (operating expenditure) of $5,243 (U.S.)/t LCE. The project now has a pit-constrained measured and indicated resource containing an estimated 10.51 Mt of lithium carbonate equivalent (LCE) grading 3,007 ppm (parts per million) Li at a 1,250 ppm cut-off.

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