Alphabridge, based in Vancouver, Canada, is a corporate finance advisory firm that partners with growth companies to deliver strategic financial leadership across mergers & acquisitions (M&A), capital raising, valuation, and CFO services. In addition to its advisory practice, Alphabridge operates a dedicated equity research arm that focuses on providing independent coverage for companies operating at pivotal stages of development with significant growth potential. Alphabridge's research is distributed through major institutional platforms, including S&P Capital IQ, FactSet, AlphaSense, and Thomson Eikon, as well as its newsletter with over 2,000 subscribers. Their coverage of Saga Metals is expected to highlight the Company's strategic focus on its flagship Radar Ti-V-Fe Project in Labrador, Canada, and its emerging portfolio of critical mineral assets.
Their initiation report on Saga Metals, dated September 8, 2025, titled "Saga Metals Corp. (TSX.V: SAGA) ā Initiating Coverage ā Well-Positioned for the Critical Minerals Supercycle," underscores the Company's potential to deliver value through its titanium-vanadium project.
The research report is available to view or to download from the firm's websites: https://alphabridge.co/download-saga-metals-equity-research-report/ or upon written request sent to Alphabridge.
Alphabridge Group Inc.
Analyst: Vasant Jain, CFA
Email: vasant@alphabridge.co
Website: www.alphabridge.co
In addition, the research report will be disseminated through various third-party websites and major institutional platforms as outlined above.
Investors are encouraged to review the reports for detailed insights into Saga Metals' projects and growth strategy. Alphabridge's Initiation Research Report includes a third-party independent review of Saga Metals, an Enterprise Valuation Analysis and a Share Price Target completed by Alphabridge's analyst, Vasant Jain, CFA.
The opinions expressed in the Research Report referenced above are the true opinions of the analyst about Saga Metals and its industry. Any "forward-looking statements" are Alphabridge's best estimates and opinions based upon information that is publicly available and that analysts believe to be correct but have not independently verified with respect to truth or correctness. There is no guarantee that the analyst's forecasts will materialize. Actual results will likely vary. The analyst and Alphabridge do not own any shares of Saga Metals, do not make a market or offer shares for sale of Saga Metals, and do not have any investment banking business with Saga Metals. Although the Company has paid a fee to Alphabridge to subsidize the high costs of research and monitoring (just as fees are paid to bond-rating agencies and auditors for their opinions), the Company is not responsible for the content, accuracy or timelines contained in an analyst's report, and the fee was not dependent on the opinion provided. In addition, readers should be aware, and are cautioned, that opinions, estimates, or forecasts contained in research analyst reports are not subject to the requirements of Canadian National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101") and have not received any endorsement or approval byĀ Saga Metals. As such, Saga Metals does not imply or in any way represent that any of the reports, opinions, estimates, or forecasts regarding Saga Metals made by research analysts comply with NI 43-101 or represent the opinions or beliefs of Saga Metals or its management or representatives. In addition to information filed by Saga Metals as found on SEDAR+ (www.sedarplus.ca), readers should only refer to the technical report(s) of Saga Metals relating to its projects for information about the projects prepared in accordance with NI 43-101. Alphabridge takes steps to ensure independence, including setting fees in advance and utilizing analysts who must abide by the CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, Alphabridge analysts may not trade in any security under coverage. Alphabridge's full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, Saga Metals has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.
About the Radar Ti-V-Fe Project in Labrador, Canada
The Radar Project, located 10 km from Cartwright in southeastern Labrador, covers 24,175 hectares and encompasses the Dykes River intrusive complex, a Mesoproterozoic layered mafic intrusion similar to globally significant AMCG suites. It resembles high-grade vanadiferous titanomagnetite (VTM) systems like China's Panzhihua and Norway's Tellnes deposits 1 , 2 . The project features a large oxide layering thickness spanning an inferred 20 km strike length, near-monomineralic VTM composition, and extensive tenures, positioning it as a potentially globally significant VTM source.
Figure 1: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill program in the Hawkeye zone. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics as shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
The Company has completed a successful year of exploration activities, including geophysical surveys, a maiden drill campaign, geological mapping, petrographic analysis, and strategic infrastructure upgrades, which have significantly advanced the understanding of the property's potential. The culmination of these activities has revealed that the oxide-rich layering is expressed as a magnetic high anomaly across a strike length of more than 20 km, forming the core of exploration within the Hawkeye and Trapper zones.
Figure 2: Radar Project's prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs .
SAGA's 2025 Winter Drill Program at Radar:
Saga Metals completed a maiden 2,209-meter, seven-hole diamond drill campaign in the Hawkeye Zone, guided by 3D magnetic inversion and VLF-EM results. Drilling intersected broad zones of titanomagnetite-rich oxide layering with consistent grades of TiO2, V2O5, and Fe. The program identified a 300-400 m thick Lower Cumulate Layer within a 600 m tested thickness of layered gabbronorite, featuring interlayered gabbronorite and semi-massive to massive VTM bands. Highest V2O5 grades were in the lower 100-200 m, with length-weighted VTM averages of 20-35%, comparable to economic ranges in similar intrusions. Petrographic analysis confirmed preserved magmatic textures, supporting a robust interpretation of their geochemistry. These findings have significant implications for potential metallurgical simplicity and recovery efficiency.
From our assay results, we know the titanomagnetite mineralization is accompanied by vanadium. Ilmenite is almost entirely present as inclusions in magnetite. Similar to the Panzhihua deposit in China, VTM is expected to be recovered as a V-Ti-Fe concentrate. Panzhihua is the world's largest single-site producer of FeāTiāV magnetite ore, resulting in a significant production volume of 40ā50% of global vanadium supply, making it #1 globally 2 . The vertical integration of its production is primarily focused on the igneous layers of VTM.
In the case of Saga's Radar project, the content of VTM is estimated from core observations and the modeling of the Hawkeye Zone 2025 drilling assay data. Pending are metallurgical tests to confirm the recoverable VTM and grades of concentrate.
Hawkeye Zone - Significant Drill Intersections
| Drill Hole | Interval Length
(m) | Average
VTM (%) | Maximum
VTM (%) |
| R25-HEZ-01 | 263.5 | 25.90% | 35.16% |
| R25-HEZ-07 | 311.7 | 22.95% | 41.63% |
| R25-HEZ-04 | 208.5 | 29.59% | 35.20% |
| R25-HEZ-05 | 187.3 | 26.76% | 26.76% |
| | | | |
Maximum VTM is based on about a minimum 10 m interval
All intervals are within the Lower Cumulate Layer
Table 1: Lower Cumulate Layer highlighting the length of VTM intersections.
| | | | | | | | | | |
| SUMMARY OF DRILLING RESULTS - 2024-25 WINTER PROGRAM - LENGTH WEIGHTED AVERAGES |
| Hole_ID | From | To | Length_m | Fe (%) | Fe3O4
(%) | TiO2
(%) | V2O5
(%) | Estimated
VTM (%) | VTM Habit |
| R25-HEZ-01 | 4.5 | 268.0 | 263.5 | 17.53 | 24.20 | 3.66 | 0.17 | 25.90 | Evenly distributed mineralization |
| R25-HEZ-01 | 151.1 | 198.5 | 47.4 | 23.27 | 32.13 | 4.83 | 0.25 | 35.08 | Included Semi-Massive to Massive |
| R25-HEZ-01 | 206.0 | 218.7 | 12.7 | 23.38 | 32.29 | 4.74 | 0.26 | 35.16 | Included Semi-Massive to Massive |
| R25-HEZ-01 | 236.5 | 246.0 | 9.5 | 23.35 | 32.24 | 4.65 | 0.28 | 35.04 | Included Semi-Massive to Massive |
| | | | | | | | | | |
| R25-HEZ-02 | 1.5 | 62.2 | 60.7 | 14.29 | 19.73 | 3.24 | 0.10 | 20.94 | Intercumulus |
| R25-HEZ-02 | 39.5 | 62.2 | 22.7 | 15.13 | 20.90 | 3.43 | 0.10 | 22.30 | Intercumulus |
| R25-HEZ-02 | 122.5 | 300.0 | 177.5 | 12.49 | 17.25 | 3.86 | 0.07 | 19.04 | Intercumulus |
| | | | | | | | | | |
| R25-HEZ-03 | 4.0 | 149.0 | 145.0 | 14.69 | 20.28 | 3.13 | 0.10 | 21.38 | Intercumulus |
| | | | | | | | | | |
| R25-HEZ-04 | 4.5 | 98.8 | 94.3 | 13.85 | 19.12 | 2.96 | 0.10 | 20.05 | Intercumulus |
| R25-HEZ-04 | 99.6 | 308.0 | 208.5 | 19.92 | 27.51 | 3.99 | 0.22 | 29.59 | Intercumulus |
| R25-HEZ-04 | 222.0 | 272.2 | 50.2 | 23.40 | 32.32 | 4.54 | 0.29 | 35.02 | Included Semi-Massive to Massive |
| | | | | | | | | | |
| R25-HEZ-05 | 4.5 | 117.2 | 112.7 | 14.21 | 19.62 | 3.31 | 0.09 | 20.89 | Intercumulus |
| R25-HEZ-05 | 117.2 | 304.5 | 187.3 | 18.06 | 24.94 | 3.77 | 0.18 | 26.76 | Intercumulus |
| | | | | | | | | | |
| R25-HEZ-06 | 75.5 | 293.0 | 217.5 | 14.34 | 19.80 | 3.07 | 0.12 | 20.85 | Intercumulus |
| R25-HEZ-06 | 265.0 | 293.0 | 28.0 | 20.11 | 27.77 | 4.22 | 0.21 | 30.08 | Included Higher Grade |
| | | | | | | | | | |
| R25-HEZ-07 | 2.3 | 314.0 | 311.7 | 15.94 | 22.02 | 2.88 | 0.18 | 22.95 | Intercumulus |
| R25-HEZ-07 | 86.8 | 205.2 | 118.4 | 23.22 | 32.07 | 4.51 | 0.30 | 34.75 | Included Semi-Massive to Massive |
| R25-HEZ-07 | 225.7 | 236.0 | 10.3 | 27.55 | 38.05 | 5.34 | 0.38 | 41.63 | Included Semi-Massive to Massive |
| | | | | | | | | | |
| Intervals with >35% VTM = Semi-Massive to Massive VTM | | | | |
| Intervals with >20% VTM = Intercumulus VTM, with some layers of semi-massive to massive VTM. |
| FeāOā (%) is calculated as:āFe (%) Ć 1.381 | | | | | | |
| VTM (%) is calculated using:ā(FeāOā ā 2.13) + TiOā + VāOā
| | | | |
| Length is the core interval. True thickness are about 80% of the core interval. | | |
| | | | | | | | | | |
Table 2: Summary of Saga Metals Radar Project 2025 drill results on the Hawkeye zone with VTM calculation & classification
SAGA's 2025 Summer Exploration Program at Radar:
Following drilling, Saga expanded geophysics in the Trapper and Northwest Zones, confirming a 3.3 km continuous magnetic anomaly in Trapper with readings up to 115,498 nT, open along strike. Infrastructure upgrades included clearing a logging road and building a 4 km access trail, enabling 504 square meters of trenching that exposed semi-massive and massive mineralization at the surface.
Figure 3: Radar Project's Trapper Zone depicting a 3 km magnetic anomaly and oxide layering trend. The Trapper Trail (in black) will support a new diamond drilling program.
Community support remains a cornerstone of the Company's operations in Labrador. In April 2025, the Town of Cartwright issued an official letter of support for SAGA and its ongoing exploration efforts at Radar. The Company has maintained a collaborative relationship with local stakeholders and engaged community members directly in field operations, exemplified by the involvement of Cartwright-based personnel in geophysical surveys and logistical operations. The town's proximity to the project provides reliable all-season road access, deep-water port facilities, a regional airport, and close access to hydroelectric power infrastructure.
To strengthen technical governance and ensure compliance with National Instrument 43-101 standards, Saga appointed Paul J. McGuigan, P.Geo., as the Company's Independent Qualified Person in June 2025. Mr. McGuigan brings over five decades of experience in layered mafic intrusions, deposit modeling, QA/QC, and resource classification methodologies. His oversight has reinforced the integrity of the exploration approach and supports the Company's technical reporting as it advances toward resource delineation.
Looking ahead, Saga Metals is preparing for an expanded drilling program at the Trapper Zone, informed by inversion modeling and surface trenching results. The 2025 field campaigns will prioritize resource expansion, metallurgy sampling, and structural mapping to support a future mineral resource estimate.
Saga Metals Corp. remains committed to responsible exploration, strong community engagement, and the strategic development of critical metals that support decarbonization and energy security.
Qualified Person
Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.
Saga Metals' Corporate Video
Please find below Saga Metals' corporate video, produced by Pinnacle Digest, providing an overview of the Company as well as highlighting the key characteristics and developments of the Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project in Labrador, Canada.
A Media Snippet accompanying this announcement is available by clicking on this link.
_________________________
- Tellnes
- Panzhihua, China
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact:
Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipates", "expects", "believes", and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company's Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company's assets, and the risks detailed in the Company's continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Photos accompanying this announcementĀ areĀ available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1dc926db-43f0-490b-b7f9-695da9edd0fc
https://www.globenewswire.com/NewsRoom/AttachmentNg/7dd16130-dd8e-44ce-99a8-e4e965ca6065
https://www.globenewswire.com/NewsRoom/AttachmentNg/38ea2e6a-4521-4ad3-9d1b-4b60353c75fd
