Surge Copper Appoints Leif Nilsson as Chief Executive Officer

VANCOUVER, Jan. 4, 2021 - Surge Copper Corp. (TSXV: SURG) ("Surge" or the "Company") is pleased to announce the appointment of Leif Nilsson as Chief Executive Officer of Surge. Dr. Shane Ebert will continue as President and VP Exploration of the Company.

Mr. Nilsson has dedicated the last 15 years to a career in mining advisory and investment banking for various Canadian and international firms, most recently serving as Senior Vice President at an Australian multinational investment bank with a market leading mining advisory practice. He has advised on many high-profile M&A and Canadian capital markets transactions and has built a reputation for excellence and integrity. Mr. Nilsson holds an Honours Bachelor of Science in Physics and Exploration Geophysics from the University of Toronto and a Master in Finance from INSEAD.

Dr. Shane Ebert, President of Surge, commented: "As part of the recent rejuvenation of activity at Surge, including the addition of new board members and the acquisition of the Berg project, we set out to establish new leadership for the next phase of growth at Surge. The Company requires an executive with specific skills that Leif brings to bear, and both myself and the rest of the board are very pleased to welcome Leif to the team."

Pat Glazier, Chairman of Surge, commented: "I am delighted to have Leif lead the business as we advance our projects, continue to build out and develop the team, and pursue further growth initiatives. With Leif's expertise, Shane's deep knowledge and experience with the Ootsa project, and the acumen brought by the recent additions of highly experienced board and advisory team members, I am excited by what our growing team will deliver."

Leif Nilsson commented: "I am thrilled to be joining Surge at this point in the Company's trajectory. Surge controls unique and high-quality assets which form an excellent foundation to build shareholder value. The Company's board and management team have the right skills and track record to deliver on our ambitions and I look forward to collaborating with all of the Company's stakeholders to build sustainable value."

The Company also announces that the board has approved the grant of 7,965,000 options to certain employees, executives, directors, and consultants of the Company. The options have been granted pursuant to the Company's option plan, are subject to vesting provisions, have an exercise price of $0.69 per share, and expire five years from the date of grant.

About Surge Copper Corp.

The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit constrained NI 43-101 compliant resources of copper, gold, molybdenum and silver in the Measured and Indicated categories. There are 2 drills working at the project with drilling focused on defining the extent of the large West Seel deposit and testing new targets along the Seel Trend.

The Company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits. Berg contains a large copper-molybdenum-silver mineralized zone with historical resources. Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits.

ON BEHALF OF THE BOARD OF DIRECTORS

"Leif Nilsson"
Chief Executive Officer

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To find more information on Surge Copper Corp., please visit: http://www.surgecopper.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "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 Property and the Ootsa Property. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdown and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

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SOURCE Surge Copper Corp.