Surge Battery Metals
A Rising Lithium Player Powering
America’s Clean Energy Future

The global push toward electrification and clean energy is driving a dramatic surge in lithium (a.k.a. white gold) demand - far outpacing supply. This essential metal is used in electric vehicle (EV) batteries, grid-scale storage, robotics, and next-generation technologies.

The International Energy Agency forecasts that lithium demand could grow 40× by 2040. Meanwhile, Benchmark projects a shortfall exceeding 1.1 million tons of LCE by 2030 if new projects aren’t brought online.

The white gold has swiftly transformed from a niche battery metal to a strategic national asset. In the U.S., the recent jump in interest - evident in reports that the federal government may take an equity stake in Nevada’s Thacker Pass project - signals that Washington now sees lithium as central to both economic and security policy.

Despite the urgency, domestic output still lags far behind demand: the U.S. currently produces only 2,700 metric tons per year, a fraction of the 500,000 tons needed by 2030 to support EV goals. This stark imbalance underscores a looming supply crisis: America is sitting on more than 100 million tonnes of lithium reserves - yet most of it remains untapped.

Lithium’s strategic importance is further amplified by policy mandates. The U.S. Inflation Reduction Act requires that 80% of EV battery minerals be sourced domestically or from allied nations by 2027, placing enormous pressure on secure local supply chains.

On the demand side, the scale is staggering. Benchmark projects that global lithium consumption could surpass 2.4 million tonnes of LCE by 2030, nearly four times current usage. As EVs, grid storage, and smart infrastructure scale, hundreds of new lithium projects will be needed just to maintain balance.

In this environment, policy changes can dramatically shift fortunes: the mere possibility of U.S. government backing has caused lithium equities to soar. The message is clear: lithium is no longer just a component for batteries - it is now a strategic commodity in the global race for clean energy leadership.

Against this backdrop, Surge Battery Metals is developing one of the few high-grade, scalable lithium clay projects in a stable U.S. jurisdiction. The company is not just supplying lithium; it’s supplying resilience in an era of uncertain policy winds.

Surge Battery Metals: A Rising U.S. Lithium Player

TSXV: NILI | OTCQX: NILIF | FRA: DJ5

Surge Battery Metals is a Canadian exploration company advancing the Nevada North Lithium Project (NNLP), located in Elko County, Nevada. With a resource estimate of 11.2 million tons of LCE grading 3,010 ppm lithium, NNLP stands as the highest-grade lithium clay deposit in the United States.

The company’s strategy is built on advancing high-grade lithium resources to supply the fast-growing EV and battery storage sectors. Beyond simple resource expansion, Surge Battery Metals is focused on producing high-purity lithium chemicals exceeding 99.9% purity in lab trials.

This emphasis on quality ensures the company can meet the stringent requirements of EV manufacturers and energy storage providers. By combining exceptional project economics with strong jurisdictional advantages, Surge Battery Metals is positioning itself as a leader in America’s lithium independence.

The Nevada North Lithium Project

The Nevada North Lithium Project (NLLP) is the company’s flagship asset and has advanced rapidly in recent years. Since its maiden estimate in February 2024, the resource base has more than doubled (+113%), underscoring the scale and growth potential of the project.

The updated resource now totals 11.2 million tonnes LCE at an average grade of 3,010 ppm lithium using a 1,250 ppm cutoff, with drill intercepts as high as 8,070 ppm. These grades significantly outpace other U.S. lithium clay peers, which average between 800 and 2,540 ppm.

A Preliminary Economic Assessment (PEA) highlights robust economics with a US$9.2 billion net present value (NPV 8%), an internal rate of return (IRR) of 22.8%, and a mine life of more than 42 years. The project’s operating cost is among the lowest in the industry at US$5,243 per tonne LCE, providing a competitive edge in a rapidly tightening global market.

Infrastructure advantages further strengthen the project. NNLP is only 13 kilometers from major power lines, with nearby road access and proximity to Nevada’s established battery manufacturing hub. 

Permitting is also advancing: the Bureau of Land Management (BLM) has issued a Record of Decision (ROD) and Finding of No Significant Impact (FONSI), granting environmental clearance and expanding the project’s exploration footprint to 250 acres.

A key development for NNLP is Surge’s recently signed joint venture with Evolution Mining, a global miner recognized for its operational expertise. Under this agreement, Evolution can earn up to a 32.5% stake in the project by funding C$10 million toward the Preliminary Feasibility Study. This partnership brings in over 21,000 additional acres of prospective land and combines both companies’ strengths—Surge’s high-grade lithium resource with Evolution’s extensive land package and mine-building experience.

The deal keeps Surge in the driver’s seat as majority owner and project manager while leveraging Evolution’s support to fast-track exploration and move NNLP closer to development. With a bigger land position, better access to capital, and the backing of a proven industry player, NNLP is even better positioned to become a flagship source of lithium for America’s clean energy future.

Leadership with a Proven Lithium Track Record

This collective experience spans discovery, development, processing, and financing, creating a strong foundation for advancing NNLP and delivering value.

Strong Financials and Market Recognition

Surge Battery Metals has a market listing on the TSX Venture Exchange (NILI), with secondary listings on the OTCQX (NILIF) and Frankfurt Stock Exchange (DJ5). The company has 175.4 million shares outstanding and 240.7 million fully diluted, maintaining a structure that supports liquidity and growth.

Importantly, it has the backing of American Lithium, a strategic investor that provides both financial support and technical synergies.

The company’s strong performance has been recognized by the market: in 2024, Surge Battery Metals was named a Top 50 performer on the TSX Venture Exchange, underscoring investor confidence in its assets and strategy. This combination of a strong balance sheet, strategic partnerships, and market validation highlights Battery Surge as a company with both staying power and growth momentum.

What’s Next for Surge Battery Metals

The year ahead will be transformative for Surge Battery Metals. In 2025, the company plans to launch expanded drilling campaigns at NNLP to grow and refine its resource base even further. At the same time, metallurgical testing will advance to scale the production of 99.9%+ purity lithium carbonate, a critical milestone toward commercialization.

Additional work will focus on permitting steps and engineering studies that pave the way toward feasibility, while the company continues to strengthen partnerships with original equipment manufacturers (OEMs) and strategic investors. With permitting approvals already in hand and a clear roadmap for development, Surge Battery Metals is positioned to move swiftly toward becoming a cornerstone supplier of lithium for North America’s clean energy future.