TORONTO, Sept. 23, 2025 /CNW/ - This news release is being made by Thompson Creek Metals Company Inc. ("TCMC"), a wholly owned subsidiary of Centerra Gold Inc., to report that its securityholding percentage in the common shares (the "Shares") in the capital of Surge Copper Corp. (the "Issuer") has decreased to less than 10% of the issued and outstanding common shares of the Issuer. The Issuer's head office is at 888 – 700 West Georgia Street, Vancouver, BC, V7Y 1G5.

As of the date hereof, TCMC owns 33,075,383 Shares of the Issuer representing 9.58% of the issued and outstanding Shares. On September 18, 2025, the Issuer announced that it had closed a strategic private placement (the "Private Placement") with African Rainbow Minerals Limited ("ARM") pursuant to which ARM purchased 25,781,715 Shares. On September 22, 2025, following confirmation from the Issuer, TCMC determined that, as a result of the Shares issued under the Private Placement, its securityholding percentage in the Shares decreased to below 10%.

TCMC holds Shares for investment purposes and has no current plans or intentions which relate to, or would result in, acquiring additional securities of the Issuer, disposing of securities of the Issuer, or any other actions described in Item 5 of Form 62-103F1 Required Disclosure under the Early Warning Requirements. Depending on market conditions, TCMC's view of the Issuer's prospects and other factors TCMC considers relevant, TCMC may acquire additional securities of the Issuer from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its Shares.

An early warning report will be filed by TCMC on the Issuer's SEDAR+ profile at www.sedarplus.com. For more information, or to obtain a copy of the subject early warning report, please contact:

1 University Avenue
Suite 1800
Toronto, Ontario
M5J 2P1
Lisa Wilkinson
Telephone: (416) 204-3780