Mr. Leif Nilsson reports

SURGE COPPER PROVIDES CORPORATE AND OPERATIONAL UPDATE

Surge Copper Corp. has provided a corporate update on progress toward the completion of the prefeasibility study (PFS) for the Berg copper project, upcoming investor events and the second tranche of the previously announced private placement.

Operational update

The company continues to make progress toward the completion of the PFS for Berg, with the study remaining on track for completion in the second quarter of 2026. The PFS is expected to further refine the project's development plan and provide important inputs for the next stage of technical and regulatory advancement.

Preparation is also under way for the 2026 field program at Berg, which is expected to include additional geotechnical and resource drilling, as well as environmental field studies. These programs are intended to support continuing technical derisking, future project planning and continued advancement of the project through the environmental assessment, permitting and further study stages.

In addition, Surge continues to advance its engagement efforts with first nations and local communities as the company advances the project toward the regulatory environmental assessment process. This work remains focused on building constructive, long-term relationships, through early engagement, open dialogue and transparent communication as project planning progresses.

Participation in upcoming investor events

Surge management will be attending several upcoming investor conferences in North America and will be available for one-on-one meetings with investors, stakeholders and other interested parties:

• B.C. Critical Minerals Forum -- Vancouver, B.C., April 14, 2026, to April 15, 2026;
• Metals Investor Forum -- Vancouver, B.C., May 8, 2026, to May 9, 2026;
• The Mining Investment Event -- Quebec City, Que., June 2, 2026, to June 4, 2026;
• 121 Mining Investment New York -- New York City, June 15, 2026, to June 16, 2026.

Update on second tranche of previously announced private placement

The company is pleased to announce that it has entered into a definitive subscription agreement with African Rainbow Minerals Ltd. (ARM) for gross proceeds of $4-million. This follows ARM's notice to exercise its participation right under an investor rights agreement dated May 31, 2024.

The ARM subscription represents the second and final tranche of the company's previously announced $20-million non-brokered private placement of units at a price of 50 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant, on the terms previously described in the company's Feb. 10, 2026, news release.

The second tranche is expected to close in approximately four weeks from the date of this news release, subject to customary conditions, foreign regulatory approvals and the approval of the TSX Venture Exchange.

Qualified persons

Dr. Shane Ebert, PGeo, is the qualified person for the Ootsa and Berg projects as defined by National Instrument 43-101, and has approved the technical disclosure contained in this news release. Dr. Ebert is an officer and a director of Surge, and is not independent of the company.

About Surge Copper Corp.

Surge Copper is a Canadian resource company advancing one of British Columbia's emerging copper districts. The company's 100-per-cent-owned Berg project hosts a large-scale copper-molybdenum-silver deposit in central British Columbia with a projected mine life exceeding 30 years. A 2023 preliminary economic assessment outlined a long-life project producing copper as a primary metal, with molybdenum, silver and gold byproducts. Surge is currently advancing a prefeasibility study to further define the project's technical and economic parameters.

In addition to Berg, Surge controls a large, contiguous mineral claim package that includes multiple advanced porphyry deposits, including the Ootsa property adjacent to the past-producing Huckleberry mine. Collectively, the company's assets position Surge as a potential long-term contributor to Canada's critical minerals strategy through the responsible development of copper, molybdenum and associated metals.

Surge is committed to advancing its projects through early engagement with first nations and local communities, with a focus on transparent communication, relationship building and respectful, constructive dialogue.

We seek Safe Harbor.