A diversified critical minerals exploration company backed by a significant partnership with Rio Tinto (NYSE:RIO) paving the way for strategic exploration of both uranium and lithium, Saga Metals offers a compelling investment opportunity in the global green energy transition.
Saga Metals (TSXV:SAGA,OTCQB:SAGMF,FSE:20H) is a mineral exploration company focused on the acquisition and exploration of mineral assets in Canada. It explores for uranium, lithium, titanium-vanadium and high purity iron ore deposits. The company has five fully owned exploration assets in top-tier mining jurisdictions in Canada. Its primary projects, Double Mer and Legacy are prospective for uranium and lithium, respectively. Its secondary assets are Radar (titanium-vanadium) and North Wind (iron ore).
The Legacy lithium project in James Bay, Quebec, is the subject of a C$44 million joint venture option agreement with Rio Tinto Exploration Canada, signed in June 2024. Under the agreement, Rio Tinto will act as a project manager for the exploration of Legacy, with the option to acquire an initial 51 percent interest in Legacy for four years.
This JV allows Saga Metals to focus on its other primary asset, the Double Mer Uranium project, a 25,600-hectare property located 90km Northeast of Goose Bay in Labrador. In Q1 2025, Saga Metals completed the final preparations for the winterized camp at the Double Mer Uranium and commenced its maiden drill program at the Radar Ti-V projects in Labrador, Canada
The Double Mer uranium project is a 1,024 claim spanning 25,600 hectares in eastern central Labrador, 90 km north east of Happy Valley, Goose Bay. The property lies between Lake Melville and Double Mer, both inlets off the Labrador Sea. The project has seen millions of dollars worth of exploration from 1970 to 2008, and features a 10-person winterized camp. A detailed geophysical and radiometric survey, which was supported by field work, demonstrates the Double Mer property extends beyond 14 km of strike, with elevated uranium samples and CPS readings. Longer term plans include developing the project for the potential takeover by a major, similar to the recent acquisition of Fission Uranium by Paladin Energy for $1.2 billion.
The Legacy lithium property is dedicated to expanding North America’s newest lithium district in the prolific James Bay region of Quebec. The property is subject to the Rio Tinto partnership and the Amirault lithium property acquisition. The projects span over 65,849 hectares and hosts the same geological setting along strike from Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium in the La Grande sub-province. James Bay is within Quebec’s Plan Du Nord, which earmarks millions of dollars for development of Quebec’s northern infrastructure.Legacy is the subject of a joint option agreement between Saga Metals and Rio Tinto, under which Rio Tinto will act as project manager during the first and second option periods. The optioned property contains 663 claims spanning 34,243 hectares hosting 100 km of striking paragneiss.
Saga Metals CEO Mike Stier cited the agreement as a “significant milestone in the company’s development,” providing the necessary capital for the exploration of the Legacy lithium project.
Rio Tinto Exploration Canada (RTEC), a subsidiary of the Rio Tinto Group (LSE:RIO,ASX:RIO,NYSE:RIO), is advancing exploration on the optioned Legacy lithium project. In 2024, RTEC conducted geological mapping, a satellite imagery survey, and an airborne magnetics survey to assess the project’s potential. Building on these results, the company plans to expand its exploration efforts in 2025, focusing on mapping, sampling, prospecting and remainder of the airborne magnetics to refine targets.
Regional geology of the southeastern Grenville Province and the Radar property
Saga Metals owns 100 percent of this 21,750-hectare land package with road access and close proximity to a deep-water port, only 10km away from the coastal city of Cartwright, Labrador. The Radar project is prospective for titanium and vanadium, both critical minerals. In March 2025, Saga Metals announced it has successfully executed a maiden drill program at the Radar project. The program confirmed a large mineralized layered mafic intrusion, underscoring the immense untapped potential of the region for hosting critical metals, including vanadium and titanium, essential to the global green energy transition.
Located in west central Labrador, 16 km southwest of Schefferville, Quebec within the Labrador Trough, the North Wind iron project consists of 255 claim blocks under a single license. The mineral license comprises 6,375 hectares and contains eight historical drill holes which formed part of New Millennium Iron’s resource estimate 43-101 in 2013. The average grade of the drill holes, which now sit within the North Wind Iron property, was 21 percent iron over the complete eight drill holes that totaled 590 meters. Saga Metals is conducting a small boots-on-the-ground program, which it plans to progress into a drill program after confirmation of structural measurements of a prospective deposit.
Educated in business management and finance, Michael Stier has spent the past 15 years focused on and building expertise in capital markets. Experienced in corporate structure, finance, business development, IPOs, M&A and wealth management, Stier served as a CIBC IIROC licensed senior financial advisor, senior analyst for a private equity company and more recently holds executive and directorship roles with private companies and publicly listed issuers. He has consulted in industries including mining, oil & gas, fintech, VR, eSports, health, life sciences and biotech. In addition to Saga, Stier has acted for several public entities and currently sits on the board of Rektron Group, LaFleur Minerals, and GoldHaven Resources.
Terence Lee is a CPA with over nine years of finance experience in reporting under International Financial Reporting Standards. Lee has worked in financial planning, analysis and reporting for companies across various industries including mining, technology, real estate, life sciences, education and private healthcare. Lee graduated with a BA from Simon Fraser University, a Diploma of Accounting from UBC’s Sauder School of Business and articled with BDO LLP. Lee is CFO of various private and publicly listed companies.
With a Bachelor of Science in Geology, Michael Garagan has 15 years of experience in the exploration industry with projects across the world including Africa, Asia, North and South America. He encountered a diverse experience of deposit styles from gold to base metals in porphyry, orogenic, epithermal and VMS deposits to uranium and lithium pegmatites. Notable projects include B2 Gold’s Otjikoto project in Namibia, Night Hawk’s Colomac project in NWT, Unigold’s Neita project in the Dominican Republic, as well as Hudbay’s Lalor Mine in Snowlake, Manitoba.
Michael Waldkirch is a CPA and CGA with over 25 years of professional experience. Since 1998, he has led the accounting firm of Michael Waldkirch & Company, specializing in accounting, tax and business consultancy services to a wide variety of public and private companies. He has represented a wide variety of public corporations including mining, oil and gas and technology companies listed on the TSX, TSXV, NYSE-American, NASDAQ and OTC-BB. He has served as CFO of numerous Canadian and US publicly listed companies, including Gold Standard Ventures and Barksdale Resources and is currently an independent board member of US Gold Corp. (NASDAQ:USAU).
With 7 years of experience in mineral exploration, Harrison Pokrandt has worked on multiple styles of geology including porphyry, VMS, orogenic, Epithermal, and Carlin-style deposits throughout countries such as Canada, Nevada, Uzbekistan, Finland, Japan, and Mali. Primarily working in gold in multiple districts, Pokrandt has experience in exploration projects and mines within all stages of project development from grassroots to development projects as well as active mines. Some flagship projects he has experience with include B2Gold’s Fekola, Skeena Resources’s Eskay Creek, as well as B2Gold’s Back River Project. Pokrandt studied earth science at Carleton University and is currently employed at Scorpio Gold Corporation as VP of Exploration.
Diversified portfolio of critical mineral assets in Canada’s top-tier jurisdictions
Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA's geophysics team has confirmed significant oxide mineralization in the northwest section of the 100% owned Radar Titanium Property (the "Property) over the site previously drilled back in 1996.
Northwest Zone, Radar Property
During the historic Voisey's Bay nickel discovery in northern Labrador, several other companies commenced exploration initiatives across the province. One company targeted a nickel and cobalt layered mafic intrusion located in the northwestern corner of the Property (see Figure 1 below). Drilling of 350 m was completed, with approximately 10% of the drill core assayed for multi-element, while the majority was only tested for Ni and Co. In drill hole 97-1, (Sample 97-1-13) recorded 40.27% Fe 2 O 3 , 7.73% TiO 2 from 52 to 52.9 feet , (Sample 97-1-15) recorded 59.09% Fe 2 O 3 and 7.32% TiO 2 from 56 to 57 feet . Additionally, several significant intercepts of 75% magnetite over 10 meters and greater were noted. That drill program was suspended due to the presence of consistent magnetite.
Michael Garagan, CGO & Director of SAGA, comments: "Regional geophysics did not cover this section of the property, but with the one hole from the 1996 drill program data assayed for multi-element, we knew of the NW zone mineralization, we just didn't know to what extent. While the ground crews continued to clear the old forestry road access to the Trapper zone, we commenced exploration on the NW zone. These geophysical results validate that the oxide layering zone could extend from the western part of the Trapper zone into the northwestern part. This would significantly increase our inferred oxide layering strike well beyond the current 20km."
Radar Ti-V-Fe Project Overview:
The Company's 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure, including road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface.
The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.
Northwest Zone Geophysical Survey
Figure 1: Map of the Radar Titanium Project showing the location of the NW Zone geophysical survey (marked with the yellow star) relative to the Hawkeye zone drill site and the Trapper Zone.
Results from a magnetic survey conducted on the NW target in June 2025 show exceptional indications of oxide layering. The data from the survey were used to produce a first vertical derivative magnetic anomaly map and a total magnetic intensity map (TMI) (see Figure 2 below). Just 9km northwest of the Hawkeye zone, the NW target contains numerous magnetic highs up to 55,000 nT (nanotesla – a unit of magnetic field strength). Outcrops of gabbronorite with 40% magnetite confirm the presence of significant oxide mineralization, which is most likely the cause of those magnetic highs (see sample in Figure 3 below). The NW target is separated from the Hawkeye zone by a section of gneiss and an assumed fault. Despite lithological surface contacts not being contiguous with the inferred oxide layering to the south, historical geochemical data, combined with these geophysical results, and the observed magnetite in outcrop, indicate that the NW target contains an area of oxide layering right next to the road.
Michael Garagan, CGO & Director of SAGA, continues: "This is without a doubt another prospective target for further exploration work in the future. It also reiterates the exceptional access across the entire property and our team's ability to traverse these important zones. Our current priority is a follow up drill campaign in the Trapper zone; however, this geophysical survey gave us our first glimpse of oxide layering towards the north and we'll be working to confirm if this is a separate oxide zone or the continuation of the same trend highlighting the possibility that this is either a very large lopolith structure or near complete circular aerial expression."
Figure 2: Total magnetic intensity (TMI) map for the NW Zone target. Major magnetic highs are in the center and southern sections of the maps. The inferred area, which includes the oxide layering, is outlined striking east-west.
Figure 2 above indicates that there are isolated to semi-continuous areas of magnetic rock. Magnetic field values in the range of 55,000 nT indicate the presence of strongly magnetic rocks. The total magnetic intensity (TMI) data which plots the change in magnetic field values in nT/m, shows high rates of change on the edges of anomalies indicated in the TMI map (Fig. 2). The high rates of change along magnetic bodies indicate sharp contacts between magnetic and nonmagnetic rocks with most of the magnetic highs located in the center of the map. These expressions of drastic high-to-low changes in magnetism are what the team identified and drilled at the Hawkeye zone. The oxide anomalies strike NE-E-W and were defined by magnetic highs, high gradients on the edges, and ground-truthed outcrops of gabbronorite, as outlined in the regional map, 1VD, and TMI (Figures 1, 2 and 3).
The survey conducted used a GEM Systems GSM-19 Magnetometer. During the survey, magnetic-field measurements and VLF-EM data were recorded. The grid used is 1 km by 1.2 km, with lines running north-south having a 100 m spacing, and stations having a 20 m spacing.
Figure 3: A piece of gabbronorite from an outcrop in the NW Zone - target. In hand sample, modal mineralogy for magnetite is 40%. The book is 17cm long for scale.
Road Maintenance and Access Trail Update
SAGA's ground crews have successfully cleared the old forestry road of overgrowth and created the laydown at the entrance of the Tapper zone access trail. Additionally, work has commenced along the access trail with several hundred meters completed to date. It is expected that the excavator will access the center of the Tapper zone by the end of the week.
The road and trail construction aims to provide direct access to both the eastern Hawkeye Zone and the western extent of the Trapper Zone. This strategic roadwork will significantly enhance logistical and cost efficiency as well as exploration capacity across the main body of the oxide layering zone.
Figure 4: 25-tonne excavator arriving on site. The transport truck dropped the excavator at the junction of the main road running through the Radar Titanium Project towards the Hawkeye zone and the old forestry road.
Figure 5: 25-tonne excavator creating access trail along the oxide layering strike within the Trapper Zone.
Radar Ti-V-Fe Project 2025 Winter Drill Program Highlights:
(Click here to see SAGA's news release dated May 5, 2025 for full information on holes HEZ-01 & HEZ-04, here to see SAGA's news release dated May 26, 2025 for full information on holes HEZ-05 & HEZ-07 and here to see SAGA's news release dated May 29, 2025 for full information on holes HEZ-06, HEZ-02 & HEZ-03)
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.
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.
The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring 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).
Additionally, 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 Metals.
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:
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, risks and uncertainties involved in the mineral exploration and development industry, 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.
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical minerals discovery, is pleased to announce the appointment of seasoned mining executive Peter Hogendoorn to its Board of Advisors, along with a key investor relations partnership aimed at elevating shareholder engagement and corporate visibility.
Appointment of Peter Hogendoorn to Board of Advisors
With over three decades of experience, Mr. Hogendoorn has specialized in financing junior mining and technology companies in both public and private sectors. As the founder and owner of Wrenswood Capital Corp for the past 20 years, he has focused on investing in and advising numerous start-ups and facilitating the revitalization of defunct operations. In 2012, he raised $16M through a joint venture that financed the original Sage Plains potash discovery well, which is still regarded as the richest potash discovery well in history. In 2021, he founded Sage Potash Corp. (TSXV: SAGE), of which he is currently CEO, where he has advanced permitting and engineering for initial production of 150,000 TPY, with State and Private Mineral leases of approximately 30,000 acres and BLM prospecting permit applications on an additional 58,000 acres.
"We are thrilled to welcome Peter to Saga Metals' board of advisors, where his proven track record as a distinguished mining executive will significantly enhance our strategic vision," said Mike Stier, CEO & Director of Saga Metals. "Peter's extensive experience in driving successful mineral exploration and development aligns seamlessly with our mission to advance critical mineral projects, particularly our Radar Titanium project in Labrador."
Mr. Hogendoorn commented: "I'm excited by SAGA's team and vision for developing strategic critical minerals that are traditionally produced in foreign jurisdictions. This has resulted in an overleverage of import dependence on critical minerals in Western economies. Such is the case for both Titanium and Potash with many starting to see the bull market opportunity ahead. Located in Labrador with proximal seaport access, I believe there exists an excellent opportunity to create important local jobs, and wealth creation as SAGA strives to become a major producer of titanium and other strategic critical minerals."
Strategic IR Engagement with Xander Capital Partners
The Company is also pleased to announce that it has entered into an investor relations agreement dated June 30, 2025 (the " Agreement ") with Xander Capital Partners Inc. (" Xander "), pursuant to which Xander will provide investor relations and market consulting services for an initial period of 12 months, subject to extension by mutual agreement of both parties. The Agreement can be terminated by giving 30 days' prior written notice of termination to the other party or by mutual written agreement of the parties.
Xander has been engaged to heighten market awareness of the Company and to broaden the Company's reach within the investment community. Pursuant to the Agreement, Xander will provide the following services to the Company: brand awareness, introductions to mining industry partners, research analysts, investment bankers, advisors, potential board members and digital marketing professionals. The Company will pay Xander a monthly cash fee of USD $10,000 as consideration for the services and 700,000 stock options (each, an " Option "), which Options are exercisable for a period of two (2) years from the date of grant and vest quarterly over a period of 12 months. The Options were issued to Rob Guzman and James Hellwarth, both principals of Xander.
Xander Capital Partners, a leading investor relations firm with over 30 years of cumulative industry experience whose clientele has included public companies such as Alpha Lithium Corp. from inception in 2019 to the recent $300-million-plus buyout in 2023. Xander's engagement is expected to elevate the Company's capital markets profile, ensuring that SAGA's growth story reaches a broad and sophisticated investor base. Xander is headquartered in Orlando, with their reach expanding internationally. Their services include introductions to high-net-worth individuals, assistance with the raising of equity capital, and corporate sponsorship.
The Agreement remains subject to the approval of the TSX Venture Exchange (the " Exchange ").
Going forward please contact Rob Guzman, Investor Relations, for more information related to the Company and its projects.
Contact details:
Toll Free Tel: +1 (844) 724-2638
Email: rob@sagametals.com
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km 2 on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.
The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring 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).
Additionally, 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.
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.
Rob Guzman, Investor Relations
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 Company's advisors, projects and investor relations. 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 continuous disclosure, filed 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.
News Provided by GlobeNewswire via QuoteMedia
Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the mobilization and commencement of its 2025 summer field program at the 100% owned Radar Titanium Property (the "Property") in Labrador, Canada.
Field crews arrived on site on June 17 and have initiated ground-based geophysical surveys targeting future high-priority drill targets. Concurrently, the team is constructing an access trail along the full 20 km strike extent of the Dykes River Intrusion oxide layering zone. Mobilizing drill rigs to the Trapper Zone is a first construction priority (see Figure 1 below).
The road and trail construction aims to provide direct access to both the eastern Hawkeye Zone and the western extent of the Trapper Zone. This strategic roadwork will significantly enhance logistical efficiency and exploration capacity across the entire 20 km oxide layering zone.
Figure 1: Detail of the Radar Titanium Project showcasing the road network from the Hawkeye Zone to the Trapper Zone and location of SAGA's 2025 field programs.
SAGA's field team is actively clearing overgrown sections of the historic forestry road to enable access for trucks and heavy equipment to the western areas of the Property. The program began with a 6-tonne excavator, while a larger 25-tonne unit is currently in transit and will be used to complete the remaining clearing work. Once operational, the 25-tonne excavator will also be deployed to construct a new access trail extending from the northwest end of the Trapper Zone, following the oxide layering zone southward before turning east toward the western anomalies within the Hawkeye Zone. This strategically designed, drill-compatible trail is a key component of SAGA's infrastructure development, enabling efficient mobilization of diamond drilling equipment to high-priority targets and supporting cost-effective execution of future drilling campaigns.
Figure 2: SAGA's field team utilizes a 6-tonne excavator to clear the old forestry road that runs east-west within the Radar project
Magnetic and Electromagnetic (EM) Survey over the ‘Trapper Zone'
As previously reported, targeted VLF-EM (Very Low Frequency electromagnetic survey) and magnetic surveys from Q4 2024 successfully defined drill targets for our maiden drill program over the Hawkeye zone. Now, our crews are targeting the Trapper zone that returned one of the highest responses in the regional airborne magnetic survey. SAGA has mobilized two geophysical crews to ensure complete survey coverage across the Trapper Zone within the next four weeks. Planned is a highly detailed magnetic and VLF-EM-survey over the northern anomaly of the Trapper zone.
Due to the strength of the magnetic anomaly detected over the Trapper zone, SAGA's geological team has had to continually recalibrate the geophysics instruments. To mitigate this, the Company has mobilized an additional instrument and expanded the team with two more personnel.
The survey employs a 25-meter station spacing along lines separated by 50 meters, allowing for detailed mapping of magnetic and conductive features associated with magnetite mineralization. This high-resolution approach is critical for accurately defining subsurface targets and enhancing confidence in drill planning for this promising western extension. The ultimate objective is to develop a magnetic inversion model—comparable to that successfully used at Hawkeye—to guide follow-up drilling along the broader 20-kilometre oxide layering trend.
Figure 3: SAGA's field team conducting the magnetic and electromagnetic survey, including Very Low Frequency (VLF-EM) on the Radar Titanium Project
Michael Garagan, CGO & Director of SAGA, comments: " We are fortunate to have exceptional infrastructure at the Radar Titanium project. The ability to complete low-cost maintenance on the forestry road and access trail into the Trapper zone will only further enhance the cost-effectiveness of future programs, adding tremendous value to shareholders. We are excited to have two teams conducting geophysics over the Trapper zone, with interpretations expected by mid-summer. As I previously mentioned, early indications suggest the Trapper zone contains some of the strongest magnetic anomalies, and we'll be utilizing the magnetic inversions to delineate drill targets similar to the Hawkeye Zone."
Figure 4: Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. 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 shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
Radar Ti-V-Fe Project Overview:
The Company's 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure, including road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface.
The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.
Radar Ti-V-Fe Project 2025 Winter Drill Program Highlights:
(Click here to see SAGA's news release dated May 5, 2025 for full information on holes HEZ-01 & HEZ-04, here to see SAGA's news release dated May 26, 2025 for full information on holes HEZ-05 & HEZ-07 and here to see SAGA's news release dated May 29, 2025 for full information on holes HEZ-06, HEZ-02 & HEZ-03)
Engaged Alphabridge Group Inc. for Equity Research Coverage
The Company has engaged Alphabridge Group Inc. ("Alphabridge") to provide equity research coverage on the Company for an initial term of one year, beginning on June 25, 2025. Total consideration payable to Alphabridge is $15,000 plus GST. Alphabridge services will be provided via its principal Vasant Jain, based out of Vancouver, BC. Alphabridge and its principal are arm's length to the Company, and to the knowledge of the Company hold no securities of the Company as of the date hereof.
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.
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 additional exploration assets in Labrador, where the company is focused on discovering 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
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 and engagement of Alphabridge for equity research coverage. 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 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.
Figures accompanying this announcement are available at:
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the appointment of Paul McGuigan, P. Geo., as its Qualified Person on the exploration and development of the Radar Ti-V-Fe Property (the " Project ") in Labrador. Mr. McGuigan will advise on standards of practice for QAQC, structural mapping, drilling and deposit modelling.
Mr. McGuigan, a Professional Geoscientist, has 50 years of international experience in economic geology and mineral exploration management, spanning grassroots exploration to feasibility studies and mining operations. Early in his career, he was employed by IBM, the Geological Survey of Canada, Imperial Oil, Pechiney Ugine Kuhlmann, Esso Minerals Canada and Westmin Resources.
For the last 37 years, McGuigan has led Cambria Geological Inc., which has operated in North and South America, West Africa, the Middle East, the SW Pacific, and Europe. Clients have included private and publicly-listed companies, First Nations groups, and governments. He has been responsible for multiple feasibility-level projects involving due diligence standards, data validation, project management, mine rehabilitation, deposit modelling, and QAQC.
In decades of public service, McGuigan was a member of the Consulting Practice and Geoscience Committees of the Engineers and Geoscientists of BC, an executive/director of the BC Neurological Centre, and president/director of the BC Centre for Ability Foundation.
McGuigan's geological expertise includes Fe-Ti-V-P in layered mafic intrusions, iron oxide-copper-gold (IOCG), volcanogenic massive sulphide, porphyry Cu-Mo-Au, epithermal and orogenic gold, and diamond deposits.
Regarding the Radar V-Ti-Fe project, McGuigan has served in several relevant roles on similar projects. In his early career, he researched gravity and magnetic separations, which led to novel heavy mineral sampling methods. For Esso Minerals, he supervised the structural mapping and mineral resource estimation of a complexly deformed, copper-bearing massive magnetite deposit, significantly improving the head grade and supporting the re-opening of the 8,000 tpd underground Granduc Mine in BC.
Later, McGuigan co-founded a commercial laboratory with Acme Analytical (now part of the Bureau Veritas group), conducting mineral separations and identifying and testing indicator minerals.
For a private Latin American group of companies, McGuigan served as the Qualified Person for testing V-Ti-Fe in Proterozoic layered mafic intrusions, including drilling, bulk sampling, pilot mill construction, and the construction of an on-site laboratory for mineral separations, XRF analysis, and QAQC. For that same client, McGuigan supervised the definition drilling and resource estimation of a heavy mineral sands deposit, with significant Ti-Fe in titanomagnetite.
In Canada, McGuigan has served as the Qualified Person and reviewed numerous Superior and Grenville Province V-T-Fe (P) deposits in layered mafic intrusions. In certain projects, he secured government grants for metallurgical and critical mineral technology.
Figure 1: Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. 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 shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
Radar Ti-V-Fe Project Overview:
The Company's 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure, including road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 24,175-hectares and entirely encloses the Dykes River intrusive complex mapped at 160km 2 on surface.
The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.
Radar Ti-V-Fe Project 2025 Winter Drill Program Highlights:
Marketing Services Agreement with Maximus Strategic Consulting Inc.
The Company also announces that it has entered into an online marketing agreement with Maximus Strategic Consulting Inc. (" Maximus "). Pinnacle Digest and PinnacleDigest.com are business names of Maximus. Maximus has agreed to produce and distribute, through the email newsletter and YouTube channel of PinnacleDigest.com, a video highlighting the Company and its projects. Additionally, all the Company's news releases during the term of the online marketing agreement will be featured in Pinnacle Digest's weekly email newsletter.
The Company's engagement of Maximus will run for a period of four months beginning on June 1, 2025, and the Company will pay Maximus a fee of C$150,000 (plus GST) paid in two instalments. Maximus' business address is 300 – 1550 5 St. SW Calgary, Alberta. T2R 1K3, email address is support@pinnacledigest.com . Maximus currently owns 300,000 common shares in the capital of the Company and 300,000 common share purchase warrants, each exercisable to acquire one common share at an exercise price of $0.50 per common share until May 23, 2027.
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.
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 additional exploration assets in Labrador, where the company is focused on discovering 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
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, risks and uncertainties involved in the mineral exploration and development industry, 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.
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the final drill results from its 2025 maiden drill program at the Radar Ti-V-Fe Property, located near the port of Cartwright in Labrador, Canada. The Property comprises 24,175-hectares and entirely encloses the Dykes River mafic layered intrusive complex.
Saga Metals Confirms Technical Success with the Drill:
Key drill intercepts from HEZ-06, HEZ-02 & HEZ-03 (final 3 holes of the 7-hole program) include:
| Description | DDH | FROM | TO | Length | Fe | TiO2 | V205 |
| ID | m | m | m | % | % | % | |
| Highest Grade intercept | HEZ-06 | 265 | 293 | 28 | 20.11 | 4.22 | 0.214 |
| Entire Hole | HEZ-06 | 1.8 | 293 | 291 | 13.55 | 3.26 | 0.101 |
| Layering Sequence | HEZ-06 | 131.5 | 293 | 162 | 14.93 | 3.15 | 0.127 |
| Highest Grade intercept | HEZ-02 | 167 | 204 | 37 | 12.40 | 4.17 | 0.069 |
| Entire Hole | HEZ-02 | 1.5 | 300 | 298.5 | 12.03 | 3.37 | 0.069 |
| Layering Sequence | HEZ-02 | 39.5 | 62.2 | 22.7 | 15.130 | 3.43 | 0.103 |
| Highest Grade intercept | HEZ-03 | 178 | 233 | 55 | 11.37 | 4.07 | 0.051 |
| Entire Hole | HEZ-03 | 4 | 233 | 229 | 13.12 | 3.35 | 0.079 |
Table 1: Composite grades of HEZ-06, HEZ-02, & HEZ-03
"The Dykes River Intrusion is a layered mafic intrusion. Our initial 7 diamond drill holes comprised 4 holes that tested the semi-massive to massive vanadiferous titanomagnetite layers and 3 holes that were sited mostly above and to the south of the magnetite layers. The 3 holes reported herein will facilitate a complete sampling of the entire intrusive layering sequence. These seven successful drill holes test a highly mineralized zone, confirming the extraordinary potential lying within our 20 km of high magnetic responses and titanomagnetite layers," commented Michael Garagan, CGO & Director of Saga Metals .
Interpretation of the Drill Results for HEZ-06, HEZ-02 & HEZ-03:
HEZ-06, HEZ-02 & HEZ-03 were all drilled within the hangingwall of the oxide layering zones. These layering intercepts bracketed the oxide layering intersected in HEZ-01, HEZ-04, HEZ-05 & HEZ-07, which intercepted the main layers of the titanomagnetite mineralization.
These last three drill holes complete the evaluation over the cross section of the entire magnetic anomaly drilled during this program, which has allowed the team to isolate four separate magmatic layers across the zone of mineralization, which is mappable and trackable. These consistent brackets of VTM mineralization will be the focus of SAGA's efforts for both mapping and metallurgical purposes.
Next Steps for the Radar Project:
The Radar Project has completed its first critical steps with the proof-of-concept 2025 winter drill program, which highlights the significance of the correlation between surface samples, geophysics, and drilling. SAGA is now targeting its other magnetic anomalies across the Property, all of which are larger than the one recently drilled.
Next steps to quickly delineate drill targets will involve completing detailed ground geophysics over the main regional airborne magnetic anomalies, as shown in Figure 2 below. In conjunction with ground-based geophysics over the priority anomalies, SAGA plans to execute a property-wide high-resolution aeromagnetic survey to locate high-priority drilling targets.
Additionally, SAGA has initiated a metallurgy and petrography analysis on the core from the Hawkeye zone. This work will determine the recoverable vanadiferous magnetite and the quality of potential concentrates.
Lastly, SAGA will conduct alternate whole-rock analyses to delineate secondary mineralization of phosphate, manganese, and scandium, as well as certain REE that are prospective in this large mafic layered intrusion.
Drilling Highlights to Date:
(Click here to see SAGA's news release dated May 5, 2025 for full details on holes HEZ-01 & HEZ-04 and here to see SAGA's news release dated May 26, 2025 for full details on holes HEZ-05 & HEZ-07)
Figure 1: 500m strike by 350m width magnetic anomaly drilled in winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey). Shows DDH collars and Lithologies.
Radar Ti-V-Fe Property Overview:
The Company's 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure, including road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 24,175-hectares and entirely encloses the Dykes River intrusive complex.
The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.
The 2025 drill program confirmed massive to semi-massive oxide layering, hosting titanium and vanadium mineralization, representing only 1/40 th of the approximately 20km long oxide layering zone identified at the Radar project. The geological context identified by Dr. Al Miller's petrographic studies has substantially advanced understanding of the Radar deposit. These findings indicate a titanomagnetite mineralization system which is advantageous for simplified metallurgical processing and potentially improved economic outcomes.
Figure 2: Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. 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 shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
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.
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 additional exploration assets in Labrador, where the company is focused on discovering 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.
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 Radar project drill assays. 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.
Photos accompanying this announcement are available at:
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IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce a highly encouraging start to the inaugural drill program at their 50/50 Dorado project ("Dorado" or the "Project"), located in Saskatchewan's world-class Athabasca Basin (Figure 1). Initial drilling at the Q48 target on the Project, completed by Purepoint as the operator of the program, intersected uranium mineralization in two holes, with downhole gamma probe readings up to 79,800 counts per second (CPS). The intercepts occur within strongly altered basement rocks – suggesting an active uranium-bearing hydrothermal system.
Highlights
"This is exactly the kind of start we were aiming for. These early results suggest we're on the trail of something meaningful," said Chris Frostad, President and CEO at Purepoint. "These initial hits speak to the quality of the target and the systematic approach our team is taking to uncover its potential. We're moving quickly to follow up on these encouraging results as drilling continues."
Philip Williams, CEO and Director of IsoEnergy commented, "Our JV project was created to focus exploration where we see real discovery potential. This exploration success reinforces the strength of our partnership with Purepoint. By combining deep Basin experience with a focused, well-funded program, we believe we've positioned Dorado for continued success through a disciplined exploration effort. It's exciting to see that approach already delivering promising results."
DDHs PG25-04 and PG25-05
Drill hole PG25-04 targeted the Q48 conductor (Figure 1) approximately 800 metres northwest of IsoEnergy's 2022 drilling (Figure 2). The drill hole was collared with a dip of -60 degrees and encountered Athabasca sandstone to a depth of 321 metres. Clay altered granitic gneiss and pegmatites were drilled to 393 metres then garnet-rich pelitic gneiss, with local pyrite and graphite, was drilled to the completion depth of 489 metres. The reddish-brown altered radioactive gouge seams were hosted by a chloritized pegmatite (Figure 3) and returned an average of 64,220 cps over 0.4 metres (Table 1).
Hole PG25-05 was collared using the same azimuth as PG25-04 and intercepted the radioactive structure approximately 40 metres up-dip of that hole. The hole encountered the unconformity at 309 metres, clay altered granitic gneiss and pegmatites to 371 metres, then garnet-rich pelitic gneiss, locally with pyrite and graphite, to the completion depth of 498 metres. The central mineralized structure was hosted in a sheared / brecciated reddish-brown altered granitic gneiss (Figure 4) and returned an average of 75,660 cps over 0.4 metres.
Table 1: Downhole Gamma Results of Drill Holes PG25-04 and PG25-05
| Hole ID | From (m) | To (m) | Length (m) | Avg. cps | Max. cps |
| PG25-04 | 248.7 | 249.4 | 0.7 | 660 | 1,010 |
| 366.0 | 367.0 | 1.0 | 690 | 810 | |
| 374.5 | 275.4 | 0.9 | 810 | 1,050 | |
| 383.7 | 387.4 | 3.7 | 11,050 | 74,800 | |
| Includes | 384.7 | 385.1 | 0.4 | 64,220 | |
| PG25-05 | 296.7 | 297.7 | 1.0 | 790 | 960 |
| 325.0 | 327.3 | 2.3 | 27,750 | 79,800 | |
| Includes | 326.1 | 326.5 | 0.4 | 75,660 | |
| 328.8 | 329.8 | 1.0 | 730 | 1,000 | |
| 395.8 | 396.3 | 0.5 | 1,770 | 2,680 |
Note: Mt. Sopris 2PGA probe used to record downhole gamma readings
Q48 Zone
The Q48 zone lies within the southern portion of the Project and is characterized by a steeply dipping, north-south trending conductive package identified through geophysical surveys. Historic drilling in the area intersected strongly altered and structurally disrupted rocks at the unconformity and in the basement, including garnetiferous pelitic gneiss, graphitic pelitic gneiss, and semipelite, with local weak radioactivity and zones of intense clay alteration. These results, combined with the geophysical response, highlighted Q48 as a highly prospective but underexplored target.
Drilling by IsoEnergy in 2022 confirmed that the conductive trend at Q48 hosts structure, shearing, and alteration, characteristics of uranium-bearing hydrothermal systems in the Athabasca Basin. The current program is designed to systematically follow-up and fully test the Q48 conductive corridor.
Figure 1: Location of the Larocque Trend, host to the high-grade Hurricane deposit and multiple high-grade uranium occurrences within the newly formed Project. The Q48 Target Area, priority focus for the 2025 drill program is highlighted.
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* See Qualified Person Statement below.
Figure 2: Location Map of 2025 Drill Program at Q48 Target Area
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Figure 3: PG25-04 Mineralization
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Figure 4: PG25-05 Mineralization
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About the Dorado Project
Dorado is the flagship project of the IsoEnergy-Purepoint 50/50 joint venture, a partnership encompassing more than 98,000 hectares of prime uranium exploration ground. The Project includes the former Turnor Lake, Geiger, Edge, and Full Moon properties, all underlain by graphite-bearing lithologies and fault structures favorable for uranium deposition.
Recent drilling by IsoEnergy east of the Hurricane Deposit has intersected strongly elevated radioactivity in multiple holes. The anomalous radioactivity confirms the continuity of fertile graphitic rock package and further highlights the opportunity for additional high-grade discoveries across the region.
The shallow unconformity depths across the Dorado property-typically between 30 and 300 metres-allow for highly efficient drilling and rapid follow-up on results.
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* See Qualified Person Statement below.
Gamma Logging and Geochemical Assaying
A Mount Sopris 2PGA-1000 downhole total gamma probe was utilized for radiometric surveying. The total gamma results provided in Table 1 were selected using a cutoff of 500 cps over a 0.5 metre width. All drill intercepts are core width and true thickness is yet to be determined.
Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation #537). The samples are analyzed for a multi-element suite using partial and total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry.
Qualified Person Statement
The scientific and technical information contained in this news release relating to IsoEnergy and Purepoint was reviewed and approved by Dr. Dan Brisbin, P.Geo., IsoEnergy's Vice President, Exploration and Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, who are "Qualified Persons" (as defined in NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")).
For additional information with respect to the current mineral resource estimate for IsoEnergy's Hurricane Deposit, please refer to the Technical Report prepared in accordance with NI 43-101 entitled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated August 4, 2022, available under IsoEnergy's profile at www.sedarplus.ca.
This news release refers to properties other than those in which IsoEnergy and Purepoint have an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Joint Venture properties.
About IsoEnergy Ltd.
IsoEnergy (NYSE American: ISOU) (TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. Highly prospective uranium projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation's McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
For more information, please contact:
IsoEnergy Ltd.
Philip Williams, CEO and Director
(833) 572-2333
info@isoenergy.ca
www.isoenergy.ca
Purepoint Uranium Group Inc.
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca
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Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". This forward-looking information may relate to additional planned exploration activities for 2025, including the timing thereof and the anticipated results thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, that planned exploration activities are completed as anticipated; the anticipated costs of planned exploration activities, the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include but are not limited to the following: the inability of the Joint Venture to complete the exploration activities as currently contemplated; uncertainty of additional financing; no known mineral resources or reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.
