Surge Copper says continuing to ‘make progress’ toward PFS completion for Berg

18 hours ago 1

TipRanks

Wed, April 1, 2026 astatine 10:10 AM CDT 2 min read

Surge Copper (SRGXF) provided a firm update connected advancement toward the completion of the Pre-Feasibility Study for the Berg Copper Project, upcoming capitalist events, and the 2nd tranche of the antecedently announced backstage placement. The Company continues to marque advancement toward the completion of the PFS for Berg, with the survey remaining connected way for completion successful the 2nd 4th of 2026. The PFS is expected to further refine the Project’s improvement program and supply important inputs for the adjacent signifier of method and regulatory advancement. Preparation is besides underway for the 2026 tract programme astatine Berg, which is expected to see further geotechnical and assets drilling, arsenic good arsenic biology tract studies. These programs are intended to enactment ongoing method de-risking, aboriginal task planning, and continued advancement of the Project done the biology assessment, permitting, and further survey stages. In addition, Surge continues to beforehand its engagement efforts with First Nations and section communities arsenic the Company advances the Project toward the regulatory biology appraisal process. This enactment remains focused connected gathering constructive, semipermanent relationships, done aboriginal engagement, unfastened dialogue, and transparent connection arsenic task readying progresses. The Company besides announced that it has entered into a definitive subscription statement with African Rainbow Minerals (AFBOF) for gross proceeds of $4M. This follows ARM’s announcement to workout its information close nether an capitalist rights statement dated May 31, 2024. The ARM Subscription represents the 2nd and last tranche of the Company’s antecedently announced $20M non-brokered backstage placement of units astatine a terms of $0.50 per Unit. Each Unit consists of 1 communal stock of the Company and 1 communal stock acquisition warrant. The Second Tranche is expected to adjacent successful astir 4 weeks from the day of this quality release, taxable to customary conditions, overseas regulatory approvals, and the support of the TSX Venture Exchange.

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