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Surge Battery Metals Announces 100% Increase in Land Position at Nevada North Lithium Project
West Vancouver, British Columbia--(Newsfile Corp. - July 26, 2023) - Surge Battery Metals Inc. (T...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Metals Announces 100% Increase in Land Position at Nevada North Lithium ProjectWest Vancouver, British Columbia--(Newsfile Corp. - July 26, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTC PINK: NILIF) (FSE: DJ5C)  (the \"Company\" or \"Surge\") is pleased to announce a significant expansion of its land holdings at the Nevada North Lithium Project (\"NNLP\") through additional claim staking by the Company (100% interest without any royalties) and by way of an Agreement with M3 Metals Corp (\"M3M\").With the additional staked lands and including the interest in the M3 Lands, the Company will have increased its land position in the area to approximately 12,800 acres or 5,180 hectares up from a previous area of 6,270 acres or 2,537 hectares.Surge Battery Metals Property Map as of 2023-07-24To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9838/174941_a0df858b04e19a92_001full.jpgMr. Greg Reimer, Chief Executive Officer and Director commented \"I am very pleased to announce the M3M Agreement as a strategic acquisition by the Company that ensures it controls potential extensions of our existing high tenor, lithium clay deposit. In addition, over the last several months, Surge has completed additional staking which significantly adds to the strategic land package. These acquisitions support where our geological staff see strong indications for additional lithium bearing clay horizons. The Company will incorporate this package in its exploration activities over the coming months.\"M3 Metals Corp Option and JV Agreement. The Company has entered into a mineral property option and joint venture agreement (the \"M3M Agreement\") with M3 Metals Corp. (\"M3M\"), a TSX Venture Exchange listed company. The M3M Agreement grants the Company the option (the \"Option\") to earn up to an eighty (80%) percent interest in and to the M3M Lands (as shown above as M3 Metals Claim Block) by making the following option payments: (i) to earn a fifty (50%) percent interest upon Closing in the M3M Lands, the Company must make a cash payment to M3M of $500,000 and issue to M3M a total of 2,000,000 of the Company's common shares.(ii) to earn an additional twenty (20%) percent interest in the M3M Lands, the Company must make a cash payment to M3M of $250,000, issue to M3M a total of 2,000,000 of...