Local Support Strengthens Following Maiden Drill Program Completion:
Following the successful completion of Saga Metals' maiden drill program in Cartwright, Labrador, the Town of Cartwright issued an official letter of support for the Radar Project. Robyn Holwell, Mayor of Cartwright, expressed the community's optimism and alignment with the project's future:
"The town of Cartwright fully supports Saga Metals in their exploration efforts and analysis aiming to identify an ore deposit near Cartwright and in Labrador in general. The town will help in whatever way it can to support Saga Metals in its efforts." - Robyn Holwell, Mayor of Cartwright, Labrador
Q1 2025 Radar Project Maiden Drill Program Summary:
SAGA's 2025 maiden drill program aimed to test the core of the magnetic anomaly identified through geophysics at the Hawkeye Zone. Initially planned for 1,500 meters, the program was confidently expanded to 2,200 meters after early drilling revealed strong intercepts through the primary layering sequences.
This program confirmed a large mineralized layered mafic intrusion with early indications suggesting it is moderately undeformed and contains its original primary magmatic textures from over 1 billion years ago. The Dykes River intrusion (Gower 2017), which hosts the entirety of the Radar Ti-V project, has been historically mapped over an area of 160km 2 , which is similar, but larger in size to Greenland's Skargaard intrusion. This size underscores the immense untapped potential of the region for hosting critical metals, including vanadium and titanium, essential to the global green energy transition.
Key findings from the maiden drill program include:
- 130–200 meters of intermittent magnetite layering across strike
- Consistent correlation between geophysical anomalies and mineralized zones
- Layered Fe-Ti-V mineralization open at depth
Figure 1: Geophysical map of the Hawkeye zone showing drilled oxide layers and inferred oxide layering open in both directions along strike
Drill holes R25-HEZ-01 and R25-HEZ-04 were prioritized for the first shipment to Activation Laboratories due to their location on the drill fence which placed them in a position to fully intercept the main oxide layering sequence as seen in the above map. Both holes logged magnetite layering sequences between 130-200m across strike.
Figure 2: Layering sequence of magnetite ranging from 2-10 inches per band over an almost 30m run of drill hole R25-HEZ-01
Magnetic and Electromagnetic (EM) Survey begins at ‘Trapper Zone'
Given the success of the maiden drill program's ability to uncover magnetite rich zones following the targeted geophysics completed back in Q4 2024, SAGA has commenced an additional targeted and highly detailed magnetic and EM survey over the northern anomaly in the Trapper zone located to the west of the Hawkeye zone. The objective is to develop a magnetic inversion model, like Hawkeye's, that delineates follow-up drill targets along the inferred 20km oxide layer zone.
The survey uses a tight spacing of 25-meters between linear stations over lines separated by 50-meter width to achieve high-resolution magnetic and conductivity mapping, essential for pinpointing mineralization correlated with magnetite. Tight spacing will give a very high-resolution image of the magnetic and conductivity of the known target to further support and enhance confidence for a drill program in this westerly zone.
Figure 3: Map of the Radar Ti-V project oxide layer trend and locations of the Hawkeye and Trapper zones
Michael Garagan, CGO & Director of SAGA comments: "The geophysical work—surveyed by Cartwright local Cameron Martin and expertly interpreted by David and Chris Mark of Geotronics Consulting—was undeniably SAGA's guiding force during our maiden drill program this past winter. The success of this proof-of-concept initiative has elevated the next phases of geophysics to a top priority, particularly over our additional anomalous zones, as we aim to confirm the true extent of the oxide layer running through the project with further drilling. Based on the regional data, the Trapper Zone exhibits one of the strongest anomalies, and we are highly motivated to model it against the results from Hawkeye and ultimately advance to drilling at the Trapper Zone."
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company's flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).
In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.
SAGA also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. 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.
Qualified Person
Peter Webster P.Geo. CEO of Mercator Geological Services Limited 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 Project disclosed in this news 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 Company's plans and objectives in respect of drill program. 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, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company's final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. 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.
