Surge Copper Corp. — Capital/Financing Update 2020

May 14, 2020

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1: Name and Address of Company

Surge Copper Corp. #888 – 700 West Georgia Street Vancouver, B.C. V7Y 1G5 Telephone: 604-718-5454 Facsimile: 604-662-3791

Item 2: Date of Material Change

May 14, 2020

Item 3: News Release

The news release was disseminated on May 14, 2020 through Stockwatch and filed on SEDAR.

Item 4: Summary of Material Change

SURGE COPPER INCREASES EQUITY FINANCING TO $300,000

Item 5: Full Description of Material Change

Surge Copper Corp. (the “Company” or “Surge Copper”) (TSX-V:SURG), announces that it has increased the size of the non-brokered private placement previously announced in its May 7, 2020 new release from $200,000 to $300,000 through the share issuance of up to 5,000,000 units (“Units”) at a price of $0.06 per Unit. Each Unit is comprised of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share of the Company at an exercise price of $0.09 per share for a period of three years from the closing date of the private placement.

In conjunction with this financing, the Company may pay a finder’s fee to eligible persons in compliance with applicable securities laws and exchange policies. This financing is subject to TSX Venture Exchange approval. The proceeds of the private placement will be used for general working capital.

Item 6: Reliance on subsection 71(2) of National Instrument 51-102

N/A

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Item 7: Omitted Information

N/A

Item 8: Executive Officer

The following executive officer of the Company is knowledgeable about the material change disclosed in this report and may be contacted as follows:

Shane Ebert President & CEO Telephone: 604-718-5454

Item 9: Date of Report

May 14, 2020