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Vancouver, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce that it has signed a renewed Communications and Engagement Agreement (“CEA”) with the Office of the Wet’suwet’en (“OW”) and Thin House of the Gilseyhu Clan of the Wet’suwet’en Nation. The agreement updates the longstanding collaboration that Surge and OW have maintained in good standing prior to the renewal.
The CEA formalizes the communications and protocols that Surge will use to engage with OW and its communities, focusing on mutual respect for values, perspectives, interests, and aspirations; avoiding adverse impacts on Wet’suwet’en Title and Rights; and mitigating adverse environmental and socio-economic impacts. Importantly, the CEA recognizes the Wet’suwet’en Nation’s need for a comprehensive understanding of the project at all stages of development. The CEA also includes provisions for capacity building and economic opportunities, promoting reconciliation and setting the stage for further agreements as our projects advance.
Leif Nilsson, Chief Executive Officer, commented: “Surge is committed to the principles of Free, Prior, and Informed Consent and we are enthusiastic that the Office of the Wet’suwet’en, and specifically members of the Thin House within the Gilseyhu Clan, on whose traditional territory the Berg project lies, are working with us in partnership to provide knowledge and a discussion forum as we look to advance Surge’s projects. We understand that gaining consent through project understanding, partnerships, and relationship building is a long-term effort. We are grateful for the communities’ willingness to work with us toward those goals. The entire team at Surge expresses their gratitude to the personnel and leadership at OW for their persistence and efforts in ensuring the agreement meets the needs and desires of all parties.”
About Surge Copper Corp.
Surge Copper Corp. is a Canadian company that is advancing an emerging critical metals district in a well-developed region of British Columbia, Canada. The Company owns a large, contiguous mineral claim package that hosts multiple advanced porphyry deposits with pit-constrained NI 43-101 compliant resources of copper, molybdenum, gold, and silver – metals which are critical inputs to the low-carbon energy transition and associated electrification technologies.
The Company owns a 100% interest in the Berg Project, for which it announced a maiden PEA in June 2023 outlining a large-scale, long-life project with a simple design and high outputs of critical minerals located in a safe jurisdiction near world-class infrastructure. The PEA highlights base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and US$1,800/oz gold. The Berg deposit contains pit-constrained 43-101 compliant resources of copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories.