Demonstrates a Complete Ore-to-Battery-Grade Flowsheet Ahead of Prefeasibility Study

West Vancouver, British Columbia - Newsfile Corp. - September 15, 2026 - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that Nevada North Lithium, LLC ("NNL"), the joint venture formed by Surge and Evolution Mining Limited, refined lithium carbonate produced from NNL ore to a battery-grade product reported at 99.95% Li2CO3. Kemetco Research Inc. ("Kemetco") produced a crude lithium carbonate assaying 99% Li2CO3 directly from the NNLP Master Composite through beneficiation, sulfuric acid leaching, solution purification and carbonate precipitation, as part of the metallurgical program supporting the Project's prefeasibility study ("PFS"). A portion of that carbonate was then refined by Chemshift Technologies Inc. of Calgary, Alberta, to a battery-grade product reported at 99.95% Li2CO3. Together the two programs demonstrate a continuous flowsheet from run-of-mine ore to a refined battery-grade product using conventional unit operations, reducing technical risk as the Project advances toward completion of the PFS. Highlights

• Battery-grade product achieved. Crude lithium carbonate produced from Nevada North clays was refined to a product reported at 99.95% Li2CO3.
• Complete flowsheet demonstrated. Kemetco produced a 99% Li2CO3 product directly from the NNLP Master Composite through beneficiation, leaching, impurity removal and carbonate precipitation. The subsequent refining step on the same material demonstrated that battery-grade material can be produced from Project clays using conventional unit operations.
• Strong lithium extraction. Sulfuric acid leaching of beneficiated Project material achieved lithium extractions exceeding 93% at an acid addition of 475 kg/t of beneficiated feed, increasing to approximately 98% at a higher acid addition. Leach kinetics were rapid, with leaching complete within one hour of reaching the 90°C target temperature.
• Effective beneficiation. Mild attrition followed by screening recovered 98.9% of the lithium into the fine (-20 µm) fraction while rejecting approximately 75% of the acid-consuming carbonate, confirming the material's amenability to beneficiation ahead of the leach circuit.

Mr. Greg Reimer, President, Chief Executive Officer and Director of Surge, commented, "Producing battery-grade lithium carbonate from Nevada North ore is a significant step for the Project. We have now demonstrated the full chain - from sedimentary clay in the ground, through a conventional leach and purification circuit, to a refined product that meets battery-grade specifications. That outcome supports the flowsheet our engineers have been developing through the prefeasibility study. Our focus now turns to pilot-scale work, where we will test recovery, consistency, reagent consumption and energy performance under continuous operating conditions." The Company also announces it has entered into a marketing services agreement dated September 14, 2026 (the "Agreement") with Outside The Box Capital Inc. ("OTBC"), an Ontario-based marketing firm with an office at 2202 Green Orchard Place, Oakville, Ontario. OTBC will assist the Company with marketing strategy, social-media engagement, the distribution of Company-approved information through online platforms and the production of influencer, question-and-answer and corporate-highlight videos. The engagement commenced on September 14, 2026 and has a term of 12 months, divided into two six-month periods. Either party may terminate the Agreement during the initial six-month period upon 30 days' notice, and if the Agreement is not terminated in the initial six-month period, then the Agreement will continue for the subsequent six-month period. The Company will pay OTBC US$250,000 plus applicable taxes for each six-month period (aggregate cash payments of US$500,000 for the full 12-month term of the Agreement), with the payments funded from the Company's working capital. Subject to the approval of the TSX Venture Exchange and the Company's equity incentive plan, The Company has also granted OTBC 700,000 stock options, each exercisable at C$1.02 per common share for a period of 5 years. The options will vest in equal quarterly instalments over 12 months in accordance with applicable TSX Venture Exchange requirements, and any unvested options will be cancelled if the Agreement is terminated for any reason. OTBC is owned and controlled by Jason Coles, is arm's length to the Company and, together with its principals, does not currently own any securities of the Company other than the options described above and has no other present right or intention to acquire an interest in the Company. The Agreement remains subject to the approval of the TSX Venture Exchange. The Company wishes to correct its news releases dated July 8, 2026, and September 10, 2026, which stated that stock...