Financial Wire

Surge Battery Metals Says Nevada North Lithium JV Gets Additional $2.1 Million Advance by Evolution Mining

-- Surge Battery Metals (NILI.V) on Wednesday said Nevada North Lithium LLC (NNL), the joint venture formed by units of Surge and Evolution Mining (EVN.AX), received an additional $2.1 million advance from Evolution under the terms of NNL's operating agreement.

The company said Evolution previously advanced $4.7 million. That capital, it added, financed the successful 2025 infill drill program, ongoing mineral resource estimate, metallurgical testing, preliminary feasibility study (PFS) engineering and overall mine planning.

Surge Battery Metals said the fully funded PFS remains on budget, and the $2.1 million advance will finance continued second-quarter PFS activities.

"This funding, together with the CA$30,000,000 in the Surge treasury, leaves the company in a strong financial position to move the NNL project forward," said Surge Chief Executive Greg Reimer.

Shares of the company were last seen up $0.01 $0.69 on the TSX Venture Exchange.

Price: $0.69, Change: $+0.01, Percent Change: +1.47%

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Surge Battery Metals Says Nevada North Lithium JV Gets Additional $2.1 Million Advance by Evolution Mining | Financial Wire