Surge Copper to Acquire Interest in Berg Copper-Molybdenum-Silver Project

Surge Copper Signs Option Agreement to Acquire a 70% Interest in The Berg copper-molybdenum-silver project from Centerra Gold Inc. The company has signed a final option agreement with Trampson Creek Metals Company Inc. (a wholly-owned subsidiary of TSX listed company Centerra Gold Inc.) under which Surge is entitled to a 70% interest in the Berg copper-molybdenum mine. The Silver Project, through the issuance of Surge’s C$5 million common stock and an C$8 million spending commitment, in each case, the maximum period is five years.

Berg owns a large porphyry copper-molybdenum-silver deposit in Tahtsa Ranges in central British Columbia. Berg's main deposit is located approximately 28 kilometers northwest of the Ootsa project in Surge, covering an area of 34,798 hectares, adjacent to the Ootsa property. Berg is currently 100% owned by Centerra.

Dr. Shane Ebert, Chief Executive Officer of Surge, commented: "The acquisition of Berg is highly strategic to Surge, as it solidifies the Company's position in the district, and adds both significant, high quality historical resources, and a large, prospective land package. Surge is advancing a multitrack agenda of aggressive exploration and strategic copper district consolidation in British Columbia, and this transaction represents an important step in our path forward."

The option includes a stock payment of $5 million to Centerra and a commitment of $8 million in project expenditures over five years. The resource estimate for 2018 (classified as historical data) is 397 M. A qualified personnel did not do enough work to classify historical estimates as current mineral resources or reserves, and Surge Copper did not consider them as current mineral resources or reserves.

Berg copper-molybdenum-silver project's mineralization is close to the surface, showing excellent vertical continuity, remains open in depth and radially outwards, and is known for its significant supergene enrichment area. The project is adjacent to the Ootsa property in Surge, and is located 22km northwest of the Huckleberry Mine and Mill Complex, in an area with excellent transport, power, and water infrastructure.

The large land parcel, an attractive pipeline with attractive porphyry and polymetallic hydrothermal vascular targets, including 16 known magnetic anomalies developed through airborne geophysics.

Copper equivalent has been used to express the combined value of copper, molybdenum, and silver as a percentage of copper, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result.

The Berg mine is located to the northwest of the Huckleberry Mine of Imperial Metals, and the Ootsa mine is located to the southeast. The Berg and Ootsa properties are connected on the west side and combined to cover most of the trend of the Seel-Huckleberry-Berg porphyry, with a total area of 120,155 hectares.

The mineralization in Surge Copper's Berg copper-molybdenum-silver project resulted in a wide cylindrical, multi-phase intrusive material called Berg Stock. The historic resources comprise two highly fractured mineralized zones in the northeast and southern portions of the annulus. Hypogene mineralization is characterized by several generations of veining, and a well-developed supergene enrichment blanket is superimposed on the hypogene mineralization.

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