Saga Metals Corp. (“Saga” or the “Company”), a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce that it has filed and obtained a receipt for its final long form prospectus dated July 11, 2024 (the “Prospectus”) in respect of its initial public offering (the “Offering”) from the securities regulatory authorities in British Columbia, Alberta and Ontario.
“This milestone marks a significant step forward for SAGA as we continue to expand our presence in the critical minerals sector,” stated Mike Stier, CEO & Director of Saga Metals Corp. He continued, “The TSXV listing is expected to enhance the Company’s visibility and accessibility to a broader base of investors, providing increased liquidity and support for our growth initiatives.”
Key Highlights for Investors:
SAGA Metals Corp. is committed to maintaining high standards of corporate governance and transparency as it transitions to becoming a publicly listed company. This development will support the company’s ongoing efforts to discover and develop critical mineral resources in North America.
Please refer to the Prospectus, and the Company’s press release of July 15, 2024 (each available under the Company’s profile at www.sedarplus.ca) for more information about the Offering.
SAGA Metals Investment Highlights:
Focused on North America's Critical Mineral Strategy – SAGA Metals is strategically concentrating on North America's “Critical Mineral Strategy” with operations in two highly favorable jurisdictions: Labrador and Quebec, Canada.
Map of SAGA Metals Projects
Diversified Critical Mineral Portfolio – SAGA’s portfolio spans five critical minerals across five projects of merit:
Key Project Highlights:
Double Mer Uranium Project
Regional map of the Double Mer Uranium Project in Labrador, Canada
Legacy Lithium Project
A map of the “Lithium Neighborhood” at the Legacy Lithium Project in Quebec
Amirault Lithium Project
Radar Titanium & Vanadium Project
North Wind Iron Ore Project
Management and Future Prospects
SAGA boasts an experienced management team with expertise in capital markets and geology. The team focuses on maintaining a strong capital structure and acquiring quality projects based on robust geological assessments.
Upcoming Catalysts for Shareholders
Numerous catalysts are expected over the next 12 months as SAGA’s geological team has mobilized its summer exploration programs with news anticipated across all of SAGA’s projects in the coming weeks.
The Offering is being made on a best-efforts basis led by Research Capital Corporation, as sole agent and bookrunner (the “Agent”). Interested parties who wish to participate in the Offering should ask their investment advisor to contact the Agent for more information about the Offering and selling group participation at:
Jovan Stupar
email: jstupar@researchcapital.com; phone: 604-662-1808
Savio Chiu
email: schiu@researchcapital.com; phone: 778-373-4088
In connection with the Offering, SAGA has received conditional approval from the TSX Venture Exchange (the “TSXV”) for listing of the Company’s common shares subject, to the fulfillment of the TSXV’s final listing requirements. Once final approval is received, the Common Shares will commence trading under the symbol “SAGA”.
The Company anticipates closing of the Offering to occur on or about July 29, 2024, subject to satisfaction of certain closing conditions, including, but not limited to satisfaction of the approval conditions of the TSXV for the listing of the common shares, among other things.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
To learn more about the Company’s projects visit the projects page here and corporate video here.
To access the company’s corporate presentation, select here.
A Media Snippet accompanying this announcement is available by clicking on this link.
About SAGA Metals Corp.
SAGA Metals Corp. is a North American mining company specializing in the exploration and discovery of critical minerals to advance the global green energy transition. The company's flagship asset is the Double Mer Uranium project, covering 25,600 hectares on the east coast of Labrador, Canada. Uranium radiometrics reveal an 18 km east-west linear trend averaging approximately 500 meters in width, with a confirmed 14 km section containing samples up to 4,281 ppm U3O8 and readings of 21,000 cps on a spectrometer.
SAGA Metals' primary additional asset is the Legacy Lithium Property located in Quebec's Eeyou Istchee James Bay region. This property is part of a partnership with Rio Tinto and includes the acquisition of the Amirault Lithium property. Together, these projects cover 65,849.20 hectares and share geological continuity with Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium in the La Grande sub-province.
The company also holds two secondary assets focused on titanium, vanadium, and iron ore discovery in Newfoundland and Labrador, Canada.
For further information, please contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com
Qualified Persons
Michael Cullen, P. Geo., and Rochelle Collins, P. Geo., of Mercator Geological Services Limited are each a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and have reviewed and approved the scientific and technical content of this news release regarding the Double Mer Uranium Property.
Kamil Khobzi, P. Eng., MBA, of Kamil Khobzi & Associates Inc. is a “qualified person” as defined under NI 43-101 and has reviewed and approved the scientific and technical content of this news release regarding the Legacy Lithium Property
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.
Disclaimer Regarding Forward-Looking Statements
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 proposed Offering, TSXV listing and the Company’s plans with respect to its mineral exploration properties. 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, failure to satisfy closing conditions in respect of the Offering, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Prospectus and available under the Company’s 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.
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,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the release of its 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.
Radar Ti-V-Fe Project in Labrador, Canada:
Located approximately 10 km from the town of Cartwright in southeastern Labrador, the Radar Project spans 24,175 hectares and fully encapsulates the Dykes River intrusive complex. Dykes River is a Mesoproterozoic layered mafic intrusion with strong geological similarities to globally significant AMCG (Anorthosite-Mangerite-Charnockite-Granite) suites. The geological setting of the project bears a resemblance to high-grade vanadiferous titanomagnetite (VTM) systems such as China's Panzhihua VTM deposit and the Tellnes deposit in Norway 1 . With a large oxide layering thickness, a near-monomineralic VTM composition, and extensive mineral tenures, the Radar Project shows the potential to become a globally significant VTM project.
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's 2025 winter maiden drilling program featured a 2,209-metre, seven-hole diamond drill campaign across the Hawkeye Zone—a combination of 3D magnetic inversion modeling and surface VLF-EM results guided drill targeting. The program intersected broad zones of titanomagnetite-rich oxide layering, with cumulative intersections displaying consistent grades of titanium dioxide (TiO 2 ), vanadium pentoxide (V 2 O 5 ) and iron (Fe).
Similarities in the ratios of TiO2 and V2O5 to Fe3O4 across multiple drill holes serve to identify discrete igneous layers. Within the 600 m tested thickness of the layered gabbronorite, the chemistry delineates a very promising 300-400 m thickness, referred to as the Lower Cumulate Layer. The highest V2O5 assays are in the lower 100-200 m, coinciding with the highest-grade intervals of VTMs. The layer is comprised of interlayered gabbronorite and bands of semi-massive to massive VTM.
Drill holes R25-HEZ-01, -07, -04, and -05 intersect this Lower Cumulate Layer. The chemistry indicates that the layer was deposited from a single, large-volume pulse of Ti-V-Fe-enriched magma.
Hawkeye Zone - Significant Drill Intersections
| Drill Hole | Interval Length (m) | Average VTM (%) | Maximum VTM (%) | |||||
| R25-HEZ-01 | 263.5 | 25.9% | 35.2% | |||||
| R25-HEZ-07 | 311.7 | 23.0% | 41.6% | |||||
| R25-HEZ-04 | 208.5 | 29.6% | 35.2% | |||||
| R25-HEZ-05 | 187.3 | 26.8% | 26.8% | |||||
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.
The significant length-weighted averages at Hawkeye are in the range of 20 to 35% VTM. In other mafic layered intrusions, that tenor of mineralization lies within an economic range.
| 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. | |||||||||
| Fe₃O₄ (%) is calculated as: Fe (%) × 1.381 | |||||||||
| VTM (%) is calculated using: (Fe₃O₄ − 2.13) + TiO₂ + V₂O₅ | |||||||||
| 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
Geological and petrographic assessments reveal that the layered sequences have preserved their primary magmatic textures, supporting a robust interpretation of their geochemical consistency. These findings have significant implications for potential metallurgical simplicity and recovery efficiency.
SAGA's 2025 Summer Exploration Program at Radar:
Following the winter drill program, SAGA initiated an aggressive geophysical expansion effort focused on the Trapper and Northwest Zones, confirming the presence of oxide layering. SAGA's geophysics team confirmed a 3 km continuous magnetic anomaly in the Trapper zone, containing the highest readings to date, and remains open in both directions along strike.
In a similar fashion to the Hawkeye zone, SAGA's geophysics team reports strong magnetic responses within the Trapper zone, requiring recalibration of the geophysical instruments. While readings exceeded 74,000 nT in the Hawkeye zone, at the Trapper zone, they observed responses as high as 115,498 nT over the northern Trapper zone and over 113,000 nT over the southern Trapper zone. In some cases, the instruments reached the maximum level of detection (120,000 nt).
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.
To support expanded exploration, Saga undertook a strategic infrastructure initiative, including the clearance of a legacy forestry road and the construction of a 4 km access trail across the Trapper Zone. This access route has enabled efficient trenching, mobilization of heavy equipment, and the advancement of follow-up drilling programs across the oxide corridor. The Company completed approximately 504 square metres (5,425ft 2 ) of trenching in magnetite-rich horizons within Trapper, uncovering semi-massive and massive mineralization at surface.
Figure 4: Excavator and work truck located along the Trapper Trail over the northern portion of the oxide layer trend within the Trapper zone.
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.
In mid-July, SAGA disclosed results from a detailed petrographic and mineralogical study confirming the dominance of titanomagnetite in the Hawkeye zone. 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 Fe–Ti–V magnetite ore, resulting in a significant production volume of 40–50% of global vanadium supply, making it #1 globally. The vertical integration of its production is primarily focused on the igneous layers of VTM 2 .
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.
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, 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 announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4502b7ad-6001-44dd-bd9f-52900f58c205
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ee48ee1-6f34-40aa-8edc-d88a980088dd
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA's geophysics team has confirmed a 3 km continuous magnetic anomaly in the Trapper zone that remains open in both directions along strike.
Figure 1: 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.
Michael Garagan, CGO & Director of SAGA, stated: "Previous data from the regional aeromagnetic survey suggested two large anomalies existed within the Trapper zone, leading our teams to refer to the zone as north and south. Now, with the additional total magnetic intensity data, we can clearly see that we are dealing with one large, continuous anomaly, featuring our highest magnetic readings to date. This zone alone showcases a strike length and width comparable to those of notable other projects. The striking lateral continuity of the oxide layering in the Trapper Zone suggests that the layering is contiguous with the oxide layering identified in the Hawkeye Zone, adding further data to support a potential 20 km oxide layer strike."
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 .
Magnetic and VLF-EM Survey over the ‘Trapper Zone'
A ground-based magnetic survey was conducted over both the northern and southern sections of the Trapper Zone during July 2025. The survey utilized two GSM-19 Magnetometers to collect magnetic-field and VLF-EM data (using VLF Transmitter Cutler).
The survey used a grid of N-S lines, spaced 50 m apart, with observations made at stations spaced 20 m apart along the lines. The tightly gridded stations map a distinct NW trend of magnetic highs that correlates well with the exposures of oxide layering.
In a similar fashion to the Hawkeye zone, SAGA's geophysics team reports strong magnetic responses within the Trapper zone, requiring recalibration of the geophysical instruments. While readings exceeded 74,000 nT in the Hawkeye zone, at the Trapper zone, they observed responses as high as 115,498 nT over the northern Trapper zone and over 113,000 nT over the southern Trapper zone. In some cases, the instruments reached the maximum level of detection (120,000 nt).
Figure 3: A screenshot of the Magnetometer GSM-19 geophysical instrument recording 115,498 nT over the Tapper zone.
Trapper Zone Excavator Trenching – Confirmation in Bedrock of Magnetite Layering
Early in this summer season, SAGA completed a 4 km access trail along the core of the Trapper zone, providing necessary access for future drill programs and exploration activities.
SAGA's field team began follow-up of the Trapper zone magnetic responses in July. Gladiator Drilling's 25-tonne excavator opened three trenches perpendicular to the inferred strike, exposing cumulate layers of semi-massive to massive vanadiferous titanomagnetite ("VTM") mineralization over a total of 504m 2 (5,425ft 2 ). See Figure 1. This strong confirmation of the magnetic responses is presently in its early stages and will require additional trenching and diamond drilling to delineate the dimensions of the gabbronorite/magnetite layering.
The Trapper zone is now confirmed as a similar occurrence to the Hawkeye zone, based on the early results of ground geophysical surveys and trenching. Taken together with the geophysical surveys and winter 2025 drilling results at the Hawkeye zone, the exploration potential of the 20 km long arcuate response of the regional aeromagnetic is confirmed. See Figure 2.
The high-definition details of the Trapper zone ground magnetic anomalies indicate multiple layers of the strongest magnetic layering and define additional detail to the regional magnetic responses. The pattern of magnetic anomalies indicates that the design of the next drilling and sampling phases should consider both the early geometry of the Dykes River Intrusive Complex and a later phase of open folding.
Figure 4.1: 25-tonne excavator completing a trench in the Trapper zone over the oxide layering trend.
Figure 4.2: 25-tonne excavator completing a trench in the Trapper zone over the oxide layering trend.
About the Radar Titanium Project
Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Titanium Project is supported by existing infrastructure, including road access, a deep-water port, an airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.
With a large oxide layering thickness, a near-monomineralic vanadiferous titanomagnetite ("VTM") composition, and extensive mineral tenures, the Radar Titanium Project shows the potential to become a globally significant VTM project.
Figure 5: 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.
Michael Garagan, CGO & Director of SAGA continued: "These geophysical findings further validate the importance of the team's estimate that a 15,000-meter drill program can get us to our maiden drill-indicated mineral resource. With simple homogenous geochemistry, large oxide layers, seasoned experts supporting our technical analysis, upgraded infrastructure within the Trapper zone and strong provincial support through the JEA program we can fast track development and create meaningful value to shareholders in the near term at the Radar project."
Continued Government Support
SAGA's Letter of Intent was approved under the JEA 2025 program as a Critical Minerals Primary Exploration Target, recognizing the Property's alignment with provincial and federal priorities to secure domestic supplies of key metals. With up to $143,949 in non-dilutive funding already approved, this support continues to offset exploration costs while advancing shareholder value.
Investor Relations Agreements
The Company further announces that it has entered into an investor relations agreement dated August 4, 2025 (the " IR Agreement ") with Dig Media Inc. dba. Investing News Network (" INN "), pursuant to which INN has agreed to provide certain investor relations services to the Company in exchange for cash consideration in the amount of $100,000, which is due upon execution of the IR Agreement. The IR Agreement has an initial term of 12 months ending on August 5, 2026, or such later date as may be determined by the parties.
Pursuant to the terms of the IR Agreement, INN will provide certain services to the Company, including republication of Saga's news release, website banner advertising, email banner advertising, news release dedicated emails, web browser messages, sponsored content, interviews with Saga's CEO, advertising on social media, programmatic advertising, campaign metrics and account management.
INN is based in Vancouver, Canada, and has been dedicated to providing independent news and education to investors since 2007. INN is arm's length to SAGA and holds no securities, directly or indirectly, of the Company nor has any right or intent to acquire such an interest.
In addition, SAGA has engaged Think Ink Marketing Data & Email Services (" Think Ink ") to provide corporate awareness and digital marketing services.
Think Ink will leverage its expertise in native and display advertising, video content distribution, social media coverage, and targeted email marketing to enhance the Company's digital presence and expand market awareness. The Company has budgeted up to USD $100,000 (the " Compensation ") for the 3-month agreement. The Compensation is payable in monthly installments. Either party may terminate the agreement with thirty (30) days' written notice, and any portion of the Compensation already paid that remains unspent or uncommitted as of the effective date of termination shall be returned to the Company.
Compensation to Think Ink does not include any securities of the Company, and Think Ink does not hold any interest, directly or indirectly, in the Company. Think Ink is at arm's length to the Company and has no relationship with the Company outside of this engagement.
Think Ink Data & Email Services, Inc., is a California-based marketing firm established in 1991 that provides its customers with a complete range of marketing services that span both digital and direct mail venues. With its digital services ranging from data appending, email marketing and pay-per-click online banner and native ads, Think Ink helps its clients to reach a network of potential investors.
For further information about Think Ink Marketing, please contact: Claire Stevens, 310-760-2616, 3308 W. Warner Ave, Santa Ana CA 92704, Email claire@thinkinkmarketing.com .
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, 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.
Figures accompanying this announcement are available at:
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA's team has completed the 4 km access trail along the core of the Trapper zone providing necessary access for future drill programs and exploration activities. The access trail is located to run along the surface trend of extensive outcropping and sub-cropping oxide layers. In addition, a 25-tonne excavator from Gladiator drilling has opened 3 trenches across the two significant aeromagnetic anomalies of the Trapper zone, exposing a total of 504m 2 (5,425ft 2 ) of semi-massive to massive vanadiferous titanomagnetite ("VTM") mineralization.
Figure 1 : Radar Pro ject's Trapper Zone depicting two aeromagnetic anomalies and the trend of the inferred oxide layering. The Trapper trail will support a new diamond drilling program. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.
Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Titanium Project is supported by existing infrastructure, including road access, a deep-water port, an airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.
With a large oxide layering thickness, a near-monomineralic Vanadiferous Titanomagnetite (VTM) composition, and extensive mineral tenures, the Radar Titanium Project shows the potential to become a globally significant VTM project.
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.
2025 Summer Field Program – Road Maintenance, Trail Access, Trenching and Geophysics
The 2025 summer field program marked a critical phase in advancing the exploration efficiency and cost-effectiveness of future drill programs and exploration activities in the western portion of the property, including the highly prospective Trapper zone. Key components of this program include:
The first step for the team was to perform maintenance on the Cartwright Forest Service road, which had not seen regular clearing for the last few decades. This work included:
Figure 3.1: Completed maintenance on the Cartwright Forest Service Road
Figure 3.2: Start of the Trapper Zone Trail, viewed from the lay down along the Cartwright Forest Service Road
2. Trapper Trail Construction:
The next phase of infrastructure development aimed to upgrade the pre-existing snowmobile/ATV trail into a drill rig-compatible trail, which gains access to the heart of the Trapper zone and extends past the two major anomalies. This work included:
Figure 3.3: Excavator and work truck located along the Trapper Trail over the northern portion of the oxide layer trend within the Trapper zone.
3. Trapper & Hawkeye Zone Trenching:
The trenches within the Trapper zone were identified as targets due to extremely high readings on the GSM-19 Magnetometer. On numerous occasions, the geophysics team had the GSM-19 Magnetometer Instruments reading well beyond the highest highs of the Hawkeye zone, which reached 74,000 nt.
Upon trenching these locations, it was discovered that the presence of semi-massive to massive VTM – oxide layering outcrops were not far from the surface. A total of 504m 2 (5,425ft 2 ) was trenched across the oxide layering strike in the north and south anomalies of the Trapper zone. Work is ongoing to complete pressure washing of the outcrops, clearing away dirt and debris to better show the structure and mineralogy of these exposures.
Figure 4.1: Excavator and Michael Garagan (CGO & Director of SAGA) standing on a VTM oxide layer outcrop in the northern anomaly at the Trapper zone.
Figure 4.2: Semi-massive to Massive VTM oxide layer outcrop in the southern anomaly at the Trapper zone.
4. Trapper Zone Geophysics:
As previously reported, SAGA mobilized two geophysical crews to complete magnetic and VLF-electromagnetic survey coverage across the north and south anomalies within the Trapper Zone.
SAGA's geophysics team has continued to report strong magnetic detection levels over both anomalies, requiring recalibration of the geophysical instruments. The team is excited to report that readings have exceeded the 74,000 nT detected in the Hawkeye zone, with readings recorded as high as 115,498 nT over the northern Trapper zone anomaly and over 113,000 nT over the southern Trapper zone anomaly. In some cases, the instruments reached the maximum level of detection (120,000 nt).
Figure 5: Reading off of the Magnetometer GSM-19 geophysical instrument recording 115,498 nT over the Tapper zone.
SAGA's geophysics team is working to complete the remaining lines over the coming days and will be the subject of a future new release in the near term.
Michael Garagan, CGO & Director of SAGA stated: "This summer has been a critical juncture in the development of the project and preparation for efficient and cost-effective drilling in the future. We believe that with the infrastructure upgrades completed our drilling cost per meter has come down significantly, setting us on the right track to reach our goal of approximately $300-$350/m. SAGA's plans and objectives over the next 12-month are to complete a 10,000-15,000-meter drill program, setting the stage for the completion of a maiden resource calculation. A project like this, with homogenous geochemistry and large oxide layers, can move towards a resource calculation with 100 m drill spacing over the 2.5 km stretch of the entire oxide layering strike that runs continuously through the Trapper zone."
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, 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 announcement are available at:
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Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to report a significant breakthrough in its 2025 exploration campaign at the wholly-owned Radar Project in Labrador, Canada. Emerging technical results suggest that the project bears geological similarities to Panzhihua, the world's leading vanadiferous titanomagnetite (VTM) operation, located in China, which contributes over 40% of global vanadium (V 2 O 5 ) production 1 .
With a large oxide layering thickness, a near-monomineralic VTM composition, and extensive mineral tenures, the Radar Project shows the potential to become a globally meaningful VTM project. We use Panzhihua as our deposit model target, however, note that comparable Labradorite-type AMCG deposits are not necessarily indicative of the grades and tonnes of the mineralization within the Dykes River intrusion.
"The Radar Project's mineralogy appears cleaner and more coarse-grained than most VTM deposits, and its vanadium content is similar to Panzhihua. This is a rare combination," said Paul McGuigan, P. Geo.
The Company requested that Paul McGuigan, P. Geo., review the results of the 2024-25 drilling program, which comprised 2,209 m of drilling, core logging, and 2,943 assay samples from the Hawkeye zone of the Radar Project. Additionally, the Company engaged Allan R. Miller, PhD, P. Geo., to investigate the petrography and ore microscopy of a preliminary suite of specimens, primarily from the Hawkeye zone.
Metallurgical testing is pending. Meanwhile, sufficient core logging, assaying, and petrography have been completed to identify a highly prospective Lower Cumulate Layer with a 100-200 m thick vanadium-rich basal layer within the drilled 600 m thick layered gabbronorite suite.
Radar Ti-V-Fe Project: A Rare Geological Setting
Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Property is supported by existing infrastructure including road access, a deep-water port, airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.
The Dykes River intrusion is an early, pre-collisional part of the Grenville Province. The Grenville, and its equivalent in Norway, is globally recognized for hosting some of the largest titanium–vanadium–iron oxide-bearing anorthosite massifs, including Lac Tio in Quebec and Tellnes in Norway 2 . This province has long been recognized as a powerhouse for strategic critical minerals, particularly Ti, V, Fe, and P 3 .
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's Lower Cumulate Layer is similar to Panzhihua's Main VTM Zones
Using the data from 2,943 assay samples, plots of TiO 2 vs. Fe/Ti (like those used by Charlier on other Grenville intrusions) tracked the evolution of the parent magmas of the Dykes River Fe–Ti–V oxide system. Similarities in ratios of TiO 2 and V 2 O 5 vs Fe 3 O 4 across multiple drill holes serve to identify the stratiform oxide ore layers. Within the 600 m tested thickness of layered gabbronorite, the chemistry delineates a very promising 300-400 m thickness, called the Lower Cumulate Layer. The highest V 2 O 5 assays are located in the lower 100-200 m, coinciding with the highest-grade intervals of VTMs. The layer is comprised of interlayered gabbronorite and bands of semi-massive to massive VTM.
Drill holes R25-HEZ-01, -07, -04, and -05 intersect this Lower Cumulate Layer. The chemistry indicates that the layer was deposited from a single, large-volume pulse of Ti-V-Fe-enriched magma (as shown in the consistency in the graphs plotted in Figure 2 below).
"The remarkable aspect is that 80% of the samples are of the same species of VTM, which is quite rare and due to the simple mineralogy," stated Paul McGuigan, P.Geo.
SAGA's Technical Consultant, Paul McGuigan, P.Geo., further identified that the lower 200–400 m of Hawkeye's mafic sequence comprises high-grade, rhythmically-layered VTM, with consistent TiO 2 , Fe 3 O 4 and V 2 O 5 ratios. Like Panzhihua 4 , the best grades at Hawkeye occur where individual VTM layers coalesce in the lower layers of a labradorite-AMCG type intrusion.
Figure 2: TiO 2 vs Fe/Ti for Lower Cumulate Layer showing similar magmatic differentiation trends.
The Lower Cumulate Layer at Radar, drilled in Holes R25-HEZ-01, -04, -05, and -07, features:
Table 1: Lower Cumulate Layer highlighting the length of VTM intersections.
At the heart of SAGA's breakthrough is the Hawkeye Zone, part of the Dykes River Complex. Recent petrographic work by Dr. Allan R. Miller confirms the presence of semi-massive to massive titanomagnetite hosted in gabbronorite cumulate layers. The mineralogy and assays in the lower Hawkeye zone are strikingly similar to those at Panzhihua 5 , where multiple layers of VTM mineralization—ranging from 1 to 30 meters in thickness and aggregating up to 100 m thick—are extracted for pig iron and vanadium.
Drilling Confirms High-Grade Intervals Across Large Stratigraphy
To summarize the 2,209 m drill program results, assays were grouped with core logging and a calculated VTM content to conform to the interpreted magmatic layering, as follows:
Notwithstanding the "heavily disseminated VTM" characterization, significant length-weighted averages at Hawkeye are in the range of 20 to 35% VTM. In other mafic layered intrusions, that tenor of mineralization lies within an economic range. Herein, we focus on the semi-massive to massive intervals only.
Table 2: SAGA's 2024/2025 winter drilling program completed 2,209 m of drilling over 7 holes and collected 2,943 samples.
Table 3: Summary of Saga Metals Radar Project 2025 drill results with VTM calculation & classification.
Key findings from Table 2 above include:
Radar Project's Exploration Guidance – Strategic Significance
Review of this recent assay and petrography data highlights the exceptional potential of Saga Metals' Radar property. The Dykes River mafic intrusion is a Labradorite-type AMCG layered intrusion , of the same composition and setting as intrusions hosting both titanomagnetite- and ilmenite-dominated deposits, such as the largest hard-rock titanium deposits worldwide, as follows:
Worldwide, most Labradorite-type AMCG deposits, dominated by VTM, are mined only for their V 2 O 5 content.
Notably, the Panzhihua mine produces both a VTM and an ilmenite concentrate, which are used to produce pig iron, V 2 O 5 , and TiO 2 . From the VTM concentrates only, the mine produces high-purity pig iron and over 42,000 tonnes/year of V 2 O 5 , which accounts for approximately 40% of the yearly world vanadium production 9 .
Modelling of the VTM contents at the Hawkeye zone Lower Cumulate Layer returns a targeted VTM concentrate very similar to Panzhihua VTM concentrates. Despite an abundance of world resources for Ti ores, the industry continues to prospect for better quality concentrates, principally because of processing costs and waste disposal problems associated with the high iron and trace-element contents of ilmenite and titanomagnetite. The simple, coarse-grained VTM mineralization at Saga Metals' Radar Project has the potential for a clean VTM concentrate with high recovery.
The deposits within comparable Labradorite-type AMCG deposits are not necessarily indicative of the grades and tonnes of the mineralization within the Dykes River intrusion.
The Hawkeye Zone at Saga Metals Radar Project:
Hawkeye is the first return of data from a very extensive gabbronorite Ti-V-Fe oxide layer in the Dykes River intrusion. The exploration focus is now significantly improved by the new data:
Dr. Miller's petrographic work revealed coarse-grained vanadiferous titanomagnetite (VTM) as the dominant mineral phase. Ilmenite, while present, exists primarily to date as intercumulus individual grains and minor inclusions (exsolution lamellae with trellis texture) within VTM, meaning processing flowsheets could theoretically prioritize VTM concentrate production for recovery of pig iron, V 2 O 5 and TiO 2 —similar to Panzhihua's strategy. Processing options open the door for the recovery of TiO 2 .
Q3 and Q4 2025 Initiatives Planned at the Radar Project:
Saga Metals intends to complete further delineation drilling in 2025 and initiate metallurgical testing focused on concentrate recoverability and DRI-EAF furnace compatibility. Saga plans to:
With its proximity to infrastructure and strong mineralogy, the Company's goal is to establish Radar as a strategic candidate for domestic titanium, vanadium, and pig iron production, particularly as North America pursues secure supplies of energy storage metals.
"This isn't just another VTM project," said Saga Metals Corp. CEO, Mike Stier. "We aim to prove that Radar could be one of the most significant North American VTM discoveries in a generation, with the goal of competing with global titans like Panzhihua."
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 2,200 m 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 18 km east-west trend, with a confirmed 14 km 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, 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.
___________________________________
1 Panzhihua, China
2 Lac Tio & Tellnes
3 Grenville Province (1) , Grenville Province (2)
4 Panzhihua, China
5 Panzhihua, China
6 Rio Tinto Annual Report, 2021
7 Tellnes
8 Hong Zhong and Weiguang Zhu (2006): Geochronology of layered mafic intrusions from the Pan–Xi area in the Emeishan large igneous province, SW China. Mineralium Deposita 41, 599-606.
9 Panzhihua, China & Mineral Commodity Study 2020
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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 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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