NEW YORK, October 31, 2018 /PRNewswire/ --

According to a report published by Grand View Market Research, the global lithium-ion battery market is expected to grow from USD 22.8 Billion in 2016 to reach USD 93.1 Billion by 2025. The increasing demand for lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems are expected to drive the growth of the market. Additionally, technological advancements in lithium-ion batteries will also fuel the increase in demand. Based on application, the consumer electronics segment was valued at USD 11.92 Billion in 2016. Demand for batteries in energy storage system is expected to increase at a compound annual growth rate (CAGR) of 21% during the forecast period. Surge Exploration Inc. SURJF, Nemaska Lithium, Inc. NMKEF, MGX Minerals Inc. MGXMF, American Lithium Corp. LIACF, Advantage Lithium Corp. AVLIF

The battery raw materials market is growing rapidly as the price of two key battery elements, lithium and cobalt, experienced a dramatic increase in recent years. The electric-vehicle revaluation significantly increases the demand for batteries. According to a report from McKinsey & Company, Battery demand for electric mobility is expected to reach 735 GWh by 2025, while battery demand for power storage is anticipated to reach 130 GWh by 2025. To match the demand, cobalt production will need to more than double from its 2016 production level by 2025.

Surge Exploration Inc. SURJF is also listed on the Toronto Stock Exchange Venture under (TSX-V: SUR). Earlier today the company announced breaking news that, "it's wholly owned subsidiary, Surge Exploration Chile SpA has entered into a non-binding Memorandum of Understanding (the "MOU") with Mr. Miguel Angel Pérez Vargas ("MAPV") for an option to acquire up to 100% of the Incahuasi Lithium Project in the prolific Antofagasta mining region in Northern Chile. The Incahuasi Lithium Project comprises 10 exploration concessions totaling 2,300 hectares, and the Incahuasi Salar is located on the Chile/Argentina national border approximately 75 km / 46 mi southeast from the famed Atacama Salar in Chile. The Atacama Salar is well-known to be the world's largest and actively mined source of lithium with approximately one-third of the global supply of lithium contained within its boundaries…

The MOU, when superseded by a definitive option agreement (the "Agreement"), will require Surge to make certain cash and common share payments totaling USD$2.22 million and making certain work and development commitments during the term of the option agreement.

The Incahuasi Lithium Project exhibits many highly desirable and key acquisition attributes, including:

1. the appearance of both a low-cost resource definition opportunity and a near term production opportunity;
2. the overall project size fits well within the capability of a junior company seeking to quickly define reserves and establish production facilities;
3. the property is well situated within the Incahuasi Salar with nearby highway and paved road access;
4. within the Incahuasi Salar lithium brines appear to exist near the surface resulting in potential lower costs of exploration and extraction; and
5. the proposed Incahuasi lithium exploration concessions lie beside existing lithium exploration operations in Argentina that are held by other publicly traded mining companies.

The Company intends to undertake a preliminary resource definition program upon receipt of the National Instrument 43-101 report, which is expected to be completed in 2019.

"We are excited about the opportunity to earn a significant interest in a lithium concession located in the Lithium Triangle, the world's most prolific lithium producing region with over 70% of the world's lithium reserves. We look forward to develop this concession, for the benefit of all our shareholders." says Tim Fernback, Surge's President & CEO.

Structure of the MOU and subsequent Agreement:

The proposed transaction to acquire 100% of the mining rights associate with the Incahuasi Lithium Project shall be effected by payment of the amounts described below:

1. a non-refundable payment of US$10,000 in cash by the Company to be paid to MAPV within fifteen business days of signing the MOU. This payment guarantees a six-month period of exclusivity for Surge to conduct its due diligence and for the negotiation and signing of Definitive Option agreement.
2. Upon approval of the Option Agreement and Transaction by the TSX Venture Exchange, the Company shall pay the sum of US$50,000 in cash immediately (this date is referred to as the "Effective Date");
3. the Company shall pay the sum of US$150,000 in cash to MAPV no later than twelve (12) months from the Effective Date;
4. the Company shall pay the sum of US$200,000 in cash to MAPV no later than twenty-four (24) months from the Effective Date;
5. the Company shall pay the sum of US$250,000 in cash to MAPV no later than thirty-six (36) months from the Effective Date;
6. the Company shall pay the sum of US$1,540,000 in cash and or common shares to MAPV no later than forty-eight (48) months from the Effective Date. This sum will be paid as follows: i) USD$1,000,000 will be paid in cash and, at the sole discretion of Surge ii) USD$540,000 in cash or equivalent common shares of Surge Exploration Inc.); and
7. the Company shall have the exclusive right to accelerate all payments due under this agreement.

Once Surge has completed the foregoing conditions, the Company must also have completed the following work commitment in order to exercise the option and acquire 100% interest in the Incahuasi Lithium Project.

Work Commitments: - Surge shall be required to complete the following under its "Work Commitment" obligations with the exploration phase starting immediately after the conclusion of the Option Agreement, with the assurance that Surge produces a geophysical survey and at least one drill hole completed within 24 months from the Effective Date (the "Exploration Program").

Net Smelter Return ("NSR") Royalties: Once Surge completes all the prerequisites of the Agreement, and therefore owns the rights to the lithium mineral claims, MAPV shall receive a 2% NSR in the Incahuasi Lithium Project. Surge will retain the right to repurchase 50% of the NSR to MAPV at a price of USD$3,500,000.

The transaction will be subject to TSX-Venture approval. Finders fees are payable in connection with the sourcing and negotiation of the potential acquisition of the Incahuasi Lithium Project. Qualified Person: The technical content of this news release has been reviewed and approved by Thomas Eggers. Mr. Eggers is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards, as a Registered Member of the Chilean Mining Commission. About Surge Exploration Inc. https://surgeexploration.com/"

Nemaska Lithium, Inc. NMKEF is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. Nemaska Lithium Inc. and Northvolt AB recently announced the signature of an agreement providing for the supply of battery-grade lithium hydroxide by the Corporation to Northvolt. On April 27th, 2018 Nemaska Lithium announced an agreement in principle with Northvolt. This agreement is now superseded by a definitive 5-year supply agreement. Under this agreement, Nemaska Lithium agrees to supply, through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., and Northvolt agrees to purchase, on a take-or-pay basis, up to 5,000 but not less than 3,500 metric tons per year of lithium hydroxide produced at the Corporation's commercial plant in Shawinigan, for a 5-year supply period commencing upon the start of commercial production at both the Shawinigan Plant and Northvolt's projected Skellefteå factory in Sweden. Under this agreement, Northvolt has agreed to deliver to the Corporation a EUR 10M promissory note. "We are very pleased to have moved this agreement in principle to a firm contract. Northvolt is not the only one to share our vision of a green energy future powered by lithium ion batteries. Our ongoing discussions with buyers reflect a very tight market for high purity lithium hydroxide and lithium carbonate. We continue to field inbound calls looking for supply of battery grade lithium hydroxide and carbonate. However, with approximately 90% of its future annual production capacity already committed, Nemaska Lithium is currently more focused on properly executing the construction and upcoming commissioning of its project to satisfy its existing clients," said Guy Bourassa, President & Chief Executive Officer of Nemaska Lithium.

MGX Minerals Inc. MGXMF is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. MGX Minerals Inc. and Highbury Energy Inc. recently reported that additional work has commenced on gasification of petroleum coke, an oilsands and refinery by-product, into a synthetic liquid equivalent to refinery crude oil feedstock. The expanded research and development is focused on the re-processing of petcoke waste product to a synthetic crude oil. The target specification is being designed to allow for reuse of petcoke into a primary input equivalent to crude oil that can be upgraded into petro-chemical products in a traditional refinery without any modification to existing equipment. The goal is to produce a fuel which can seamlessly integrate into existing refinery operations. This represents a potential long-term use for the large existing stockpiles of petcoke as well as ongoing output of petcoke and other waste products without significant changes to the existing refinery infrastructure. To date work has been focused on petcoke to hydrogen gas output and the extraction of metals from the gasification of the residual ash, in particular vanadium, nickel, and cobalt.

American Lithium Corp. LIACF is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The Company recently announced the results of its first sampling program on the Tonopah Lithium Claims. The TLC Project is an early stage 1,550-acre lithium claystone project located minutes from the mining center of Tonopah, Nevada, and required infrastructure. American Lithium has conducted an initial sampling program to confirm and demonstrate the potential of the TLC project. 22 samples were taken at 11 sample site that confirmed as well as expanded on the sample assays presented by the vendors Alaska Nevada. Grab samples were taken at 11 sample sites at depth of 15 cm to ensure the claystone was not leached. Grab samples graded ranging from 129.5 to 1380 ppm Li with a mean grade of 608.5 ppm Li. A second set of chip samples were taken over a depth of 15 to 45 cm to give an understanding on consistency of the grade over a short stratigraphic interval. Chip samples graded ranging from 131.0 to 1340 ppm Li with a mean grade of 704.5 ppm Li.

Advantage Lithium Corp. AVLIF is a lithium brine development company specializing in the strategic acquisition and development of properties in Argentina and is headquartered in Vancouver, British Columbia. Advantage Lithium Corp. recently provided this update on the brine sampling results from diamond core hole CAU22 in the SE Sector of the Cauchari JV property located in Jujuy Province, Argentina. Systematic brine sampling completed in CAU22 averaged 549 mg/l lithium and 3,630 mg/l potassium from 146.5-290.5 m depth, with samples not yet received below this depth. The brine shows a similar grade and very low average Mg/Li ratio of 2.4:1, similar to that demonstrated during pumping of CAU11 - excellent for conventional brine processing. President & Chief Executive Officer Mr. David Sidoo commented: "Continuing excellent results from CAU22 highlight again our Resource Development Teams' understanding of the Cauchari basin and the likelihood we can grow our resource base to support our DFS and reserve estimate. The Phase III systematic drilling and sampling program has confirmed the extension of mineralized brine below the 300 m depth of the existing resource in the east of the SE Sector, with geophysics suggesting the brine mineralization extends further east than in the current resource. The Mg/Li continues to be low in this area, with positive brine chemistry. With 4 drilling rigs operating we are on schedule with the resource conversion program that aims to upgrade the resource to Measured and Indicated status. Additionally, we are beginning extended pumping tests in test wells CAU07 and CAU11 which will give us important hydraulic characteristics to complete the dynamic model for reserves."

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