Eric Sprott Announces Changes to Holdings in New Age Metals Inc.

Eric Sprott announces that, on August 25, 2025, 1,621,094 common share purchase warrants (Warrants) of New Age Metals Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 2.2% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 12,875,000 Shares and 1,621,094 Warrants representing approximately 23.2% of the outstanding Shares on a non-diluted basis and approximately 25.4% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 12,875,000 Shares representing approximately 23.2% of the outstanding Shares on a non-diluted basis. The Warrant expiry resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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