공시 • Nov 20
Surge Copper Advances Berg Project Pre-Feasibility Study
Surge Copper Corp. announced that it is advancing work toward the delivery of a Pre-Feasibility Study ("PFS") on its 100% owned Berg Project, located in west-central British Columbia. While the Company has referenced ongoing PFS-level work in recent public disclosure, this news release marks the Company's first detailed announcement describing the scope of the study, the technical consultants engaged, and the substantial new datasets that underpin the work. Trade-off studies have been underway since August 2025 and are now complete, with key design decisions finalized on throughput and power connection. The PFS is now advancing into full design and cost estimation work, with completion expected in the middle of the first half of 2026. The Company announced a maiden Preliminary Economic Assessment ("PEA") in 2023 outlining a large-scale, long-life project with a straightforward design and significant outputs of copper, molybdenum, and precious metals, located in a safe jurisdiction with access to road, power, and port infrastructure. The PFS will build on this foundation by refining the engineering, optimizing the design, and updating the economic and technical parameters of the project. The PFS will integrate the Company's recent drilling, metallurgical, geotechnical, and environmental datasets into an updated mineral resource estimate, improved mine plan, PFS-level process flowsheet, and updated capital and operating cost estimates. At the same time, detailed engineering work on waste, water, tailings management, and site infrastructure, as well as economic analysis is advancing with the objective of delivering the study in the middle of the first Half of 2026. A project of this scale, in a Tier-1 jurisdiction, has the potential to play a meaningful role in meeting the growing long-term supply needs of the global copper and molybdenum markets, and look forward to delivering on this next milestone for the Company. Engagement of Engineering Consultants: Ausenco Engineering Canada ULC ("Ausenco") has been appointed lead consultant for the PFS with responsibility for process plant design, metallurgical recovery modelling, site and power infrastructure, tailings and water management, and overall report preparation. Moose Mountain Technical Services Inc. ("MMTS") will lead the mineral resource estimation, open pit design and scheduling, and supporting engineering fields. Both firms have extensive experience delivering PFS and FS-level studies in British Columbia and globally and have been actively engaged with the Company on various aspects of the Berg Project for several years, including the 2023 PEA. Additional drilling programs have tested pit wall conditions, characterized waste rock units, and refined the understanding of structural controls across the deposit. A comprehensive metallurgical testwork program has been completed, including mineralogy, variability, and locked-cycle flotation testing. This work has demonstrated meaningful improvements in copper and molybdenUM recovery expectations relative to PEA assumptions and has provided a robust basis for the PFS-level process flows sheet being developed by Ausenco. This work has materially advanced understanding of rock mass characteristics, hydrogeological conditions, and overburden profiles across both the pit area and proposed infrastructure sites. Final results from the 2025 program are pending and will be incorporated into the PFS once available. Surge has also advanced a comprehensive suite of environmental baseline studies to support future permitting and project design. In some cases, can identify forward-looking statements by terminology such as "will", " may", " may", "should", "ex expects", " plans", " plans", "plans", or "ant anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward-looking statements, including but not limited to the Company's plans regarding the Berg Project and the Ootsa Property, the anticipated completion and results of the Pre-Feasibility Study, future exploration and technical programs, mineral resource estimates, mineral resource estimates, mine planning, mine planning, capital and operating cost estimates, waste, waste, waste, and operating cost estimates, and other comparable terminology.