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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 discoveries, is pleased to report assay results from the first two (2) drill holes completed in 2026 as part of its ongoing maiden Mineral Resource Estimate ("MRE") diamond drill program at the Trapper Zone within the 100%-owned Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador, Canada.
Trapper South Assay Highlights
- Analytical results have been obtained for the first two (2) diamond drill holes of the MRE drill program reinitiated in 2026, with top intercepts including:
- Hole R-0016: 50.60 m @ 52.05% Fe₂O₃, 7.21% TiO₂, 0.375% V₂O₅
- Hole R-0017: 90.01 m @ 51.86% Fe₂O₃, 6.76% TiO₂, 0.417% V₂O₅
- Completed sixteen (16) holes (R-0016 to R-0031) to date in 2026, with significant oxide intercepts up to 154.77 m (R-0026), predominantly semi-massive oxide with extensive rhythmic layering.
- Multiple holes intercepted broad zones of semi-massive oxide up to 87.08 m, confirming increased oxide concentration and thickness in the southeastern anomaly.
- Rhythmic banding and semi-massive to massive oxide mineralization observed consistently, aligning with prior high-grade results from Trapper North.
- Drilling is progressing efficiently, with 3,435 m already completed in 2026. Hole R-0032 is in progress.
- IGS has received 350 samples from R-0018, -0019 and -0020. Assays are expected within a week.
Further to the Company's news releases dated February 12, 2026, and February 19, 2026, the team has completed sixteen (16) diamond drill holes with depths ranging from 149 m to 302 m, totalling 3,435 m drilled, targeting the southeastern and southwestern oxide anomalies in Trapper South.
Cross-section of Trapper South S8 Summary
Figure 1: Cross section of S8 looking NW showing R-0016, -0017, -0023 and -0026, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. R-0016 and -0017 assays are shown within, while R-0023 and -0026 assays are pending.
Further to the Company's news release, dated January 29, 2026, the 2026 phase of MRE drilling commenced with R-0016 and has already progressed to its sixteenth hole, completing R-0031. After recording observed rhythmic banding in cross-section S11 (comprising holes R-0012, -0013, -0014 & -0015), the team expected to see the same consistency throughout Trapper South. However, the team was positively impressed by intercepting 60-90 m of semi-massive oxide in R-0016 and R-0017, with assays now confirming higher head grades in cross-section S8 than S11.
R-0016 is the first drill hole in Trapper South to intercept semi-massive oxides with assays returning 50.60 m @ 52.05% Fe₂O₃, 7.21% TiO₂, 0.375% V₂O₅. R-0017 is drilled at the same location to undercut R-0016 with an inclination of 70°. This drill hole intersected the oxide zone across an interval of 90.01 m at 50.4 m. The oxide zone includes 87.1 m of semi-massive magnetite and 3 m of rhythmic magnetite layering with assays grading 51.86% Fe₂O₃, 6.76% TiO₂, 0.417% V₂O₅.
The core economic target remains these extensive, continuous bodies of semi-massive to massive oxide mineralization that have consistently delivered strong, consistent grades of titanium, vanadium, and iron. Identifying these broad oxide zones in Trapper South could potentially compound the Company's expectations for grade, thickness, continuity, and geometry across the entire Trapper Zone, paving the way for a robust mineral resource definition.
Trapper South 2026 Core Interval Drilling Summary
| Drill Hole | Azimuth / Dip | Total Depth (m) | From (metres) | To (metres) | Semi- Massive Oxide (m) | Rhythmic Layering (m) | Total Oxide (m) |
| R-0016 | 38° / -45° | 206 | 44 | 102 | 45.84 | 12.16 | 58 |
| R-0017 | 38° / -70° | 161 | 50.56 | 140.64 | 87.08 | 3 | 90.08 |
| R-0018 | 38° / -45° | 188 | 44.7 | 156.37 | 65.04 | 46.63 | 111.67 |
| R-0019 | 38° / -45° | 182 | 66.55 | 133 | 37.96 | 28.49 | 66.45 |
| R-0020 | 38° / -45° | 206 | 50.8 | 138 | 28.5 | 58.7 | 87.2 |
| R-0021 | 38° / -70° | 152 | 81.28 | 127.38 | 33.53 | 12.57 | 46.1 |
| R-0022 | 38° / -45° | 149 | 22.51 | 118.69 | 31.58 | 59.68 | 91.26 |
| R-0023 | 38° / -45° | 272 | 100.48 | 239.32 | 30.61 | 76.44 | 107.05 |
| R-0024 | 38° / -45° | 254 | 108.87 | 219.76 | 46.76 | 62.11 | 106.2 |
| R-0025 | 38° / -60° | 275 | 122.96 | 253.6 | 6.92 | 118.08 | 125 |
| R-0026 | 38° / -60° | 302 | 108.75 | 273.65 | 16.24 | 138.55 | 154.77 |
| R-0027 | 38° / -45° | 221 | 79.83 | 175.33 | 34.24 | 61.26 | 95.5 |
| R-0028 | 38° / -60° | 230 | Logging in-progress | ||||
| R-0029 | 38° / -45° | 214 | Logging in-progress | ||||
| R-0030 | 38° / -60° | 209 | Logging in-progress | ||||
| R-0031 | 38° / -45° | 214 | Logging in-progress | ||||
| Â | Total (m) | 3,435 | Â | Â | Â | Â | Â |
| Â | Â | Â | Â | Â | Â | Â | Â |
Table 1:Â Summary of drill holes R-0016 to R-0031, highlighting the oxide intercepts. Logging of R-0028, -0029, -0030 & -0031 is in progress. See Figure 1 above and Figures 2 & 3 below, which depict the oxide mineralization in cross sections S8, S7 and S6, showing casing holes R-0016, -0017, -0018, -0019, -0023, -0024, -0025, -0026, -0027 and -0028.
Completed logging of drill holes R-0023 – R-0026 has confirmed that the overall average thickness of the oxide horizons significantly increased, with consistent semi-massive and rhythmic banding mineralization over 100 m intervals in each hole, reaching as high as 165.5 m (R-0026). Logging data indicate that R-0023 (30.58 m), R-0024 (46.76 m), and R-0027 (34.24 m) have thicker semi-massive oxide zones than R-0015 (4.52m). The attitude of the oxide horizons is consistent from all logged holes, striking SE and dipping west.
Figure 2: Cross section of S7 looking NW showing R-0018, -0024 and -0025, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays of R-0024 and -0025 are pending.
Figure 3: Cross section of S6 looking NW showing R-0019, -0027 and -0028, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Logging of R-0028 is in progress. Assays of R-0019 & -0027 are pending.
Michael Garagan, CGO & Director of Saga Metals, commented: "We are pleased with these initial assay results from the first two drill holes from 2026 drilling at Trapper South, which confirm significantly elevated grades in line with the impressive increase in semi-massive oxide mineralization encountered in these southern holes. Intercepts like 50.60 m at 52.05% Fe₂O₃, 7.21% TiO₂, and 0.375% V₂O₅ in R-0016, and the even thicker 90.01 m at 51.86% Fe₂O₃, 6.76% TiO₂, and 0.417% V₂O₅ in R-0017, demonstrate stronger oxide concentration and improved continuity compared to earlier sections. This is exactly the kind of positive development that strengthens our confidence in the overall Trapper Zone potential as we build toward a maiden Mineral Resource Estimate. At the same time, the drill rig is advancing at an outstanding pace—we've already completed 16 holes totalling 3,435 m and are pushing forward on R-0032—allowing us to rapidly expand our dataset and unlock more of this exciting layered system."
The 350 samples taken from drill holes R-0018, -0019 and -0020 have been received by Impact Global Solutions (IGS) Laboratory in Montreal, Quebec, with assays expected within one week. The team in Cartwright has finished cutting and sampling up to drill hole R-0023 and is preparing to ship 340 samples this week. Currently, the drill rig is progressing with R-0032 while the logging team completes R-0028.
Figure 4: Trapper Zone map outlining location of the initial 2026 focus for the remainder of the MRE drill program to be completed in 2026, including cross-sections N11, S11, S8, S7, S6, S5, S4 and longitudinal section CC, showing the TMI of the 2025 Trapper Zone ground magnetic survey.
Key Project Highlights:
- Confirmed mineralization in 31 out of 31 drill holes completed and observed in two primary zones to date.
- Analytical results to date include numerous oxide-rich intercepts, including:
| Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Â | DDH | FROM | TO | Length | Fe2O3 | TiO2 | V205 | Â |
| Â | ID | m | m | m | % | % | % | Â |
| Â | R-0009 | 94 | 181.2 | 87.20 | 50.67 | 10.15 | 0.339 | Â |
| Â | R-0008 | 170 | 237.6 | 68.26 | 46.15 | 9.21 | 0.311 | Â |
| Â | R-0010 | 1.5 | 137 | 135.50 | 50.03 | 7.87 | 0.352 | Â |
| Â | R-0016 | 44 | 94.6 | 50.60 | 52.05 | 7.21 | 0.375 | Â |
| Â | R-0015 | 73.3 | 174 | 100.70 | 38.56 | 6.80 | 0.229 | Â |
| Â | R-0017 | 50.6 | 140.6 | 90.01 | 51.86 | 6.76 | 0.417 | Â |
| Â | R-0011 | 58.1 | 153.3 | 95.15 | 39.49 | 6.49 | 0.222 | Â |
| Â | R-0014 | 8.8 | 50 | 41.20 | 36.17 | 6.36 | 0.188 | Â |
| Â | Â | Â | Â | Â | Â | Â | Â | Â |
Table 2: Top 8 intercepts from the 2025 & 2026 drilling programs at the Trapper Zone
- Infrastructure including road access, deep-water port, nearby hydro-electric power and airstrip.
- Confirmed the 16+ km oxide layering trend that stretches from the Hawkeye Zone to the Trapper Zone.
- Consistent grades and thicknesses with semi-massive to massive oxide reporting up to 64.55% Fe,13.3% TiO2, and 0.66% V2O5.
- Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing.
About the Radar Critical Mineral Property in Labrador
The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (about 160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.
Figure 5: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill programs. 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 with ground-based geophysical data, as shown.
Vanadiferous titanomagnetite ("VTM") mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.
Figure 6: Radar Project's prospective oxide layering zone validated over about 16 km strike length through Fall 2025 drilling, 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.
Marketing Services Agreement with Capitaliz Marketing Inc.
The Company has engaged Capitaliz Marketing Inc. to provide investor awareness and digital marketing services, including digital advertising, content development, and coordination with third-party publishers and content creators. The engagement has an initial term of three (3) months commencing March 5, 2026, continuing month-to-month thereafter. A campaign budget of $200,000 (CAD) has been allocated, payable in cash, with no equity-based compensation, success fees, or performance-based compensation payable. All activities are conducted under the Company's control and oversight in compliance with applicable securities laws and TSXV policies, and the required TSXV Form 3C disclosure has been filed.
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 disclosed in this news release.
Technical Information
Diamond drill core was logged and sampled by Company personnel at SAGA's core facility in Cartwright, Labrador. The drill core diameter was NQ. Core was cut lengthwise using a diamond saw, and one half of the core was retained in the core box while the other half was sampled at designated intervals for analysis.
Core samples were prepared and analyzed at the Impact Global Solutions (IGS) laboratory facility in Montréal, Québec. As part of the analytical quality assurance and quality control (QA/QC) program, certified reference standards, blanks, and duplicate samples were inserted into the sample stream at regular intervals to monitor analytical accuracy and precision.
Crush rejects and pulp samples are retained and stored in a secure facility for potential future verification and re-analysis. The Company maintains a rigorous QA/QC protocol consistent with industry standard practices.
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 North American transition to supply security. The Radar Ti-V-Fe 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 4,250 m of drilling, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.
The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. 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 spanning key commodities critical to the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.
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 Company's Radar Project and investor relations agreements herein. 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.
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