New Age Metals Expands Bonanza Ridge Gold And Critical Metals Project/Strategic Acquisition Of Lavender Lake & South Gibi Lake Properties

The most recent news, dated December 10, 2025, announces that New Age Metals Inc. (NAM) has expanded its Bonanza Ridge Gold and Critical Metals Project in the Kenora Gold District, Ontario. This expansion is achieved through option agreements to acquire 100% of the Lavender Lake and Gibi Lake South Properties.

Key details of the announcement include: - Acquisition Terms: NAM has the option to acquire 100% of the Lavender Lake Property (64 mining claims, 1 patented claim, 1,335 ha) and the adjacent Gibi Lake South Property (186 mining claims, 3,881 ha). - Royalty: The acquisitions are subject to a 2% Net Smelter Return (NSR) royalty, with an option for NAM to buy down 1% for $1 million. - Consideration: Option exercise requires a series of cash payments and share issuances over three years. Share payments will be based on a 10-day trading average prior to issuance, subject to a minimum deemed issue price of $0.255 per share. - Termination Clause: NAM can terminate the agreement anytime after the first year's commitments are completed. - Project Scale: These new properties, combined with the recently optioned Magnet Lake Property (announced December 9, 2025), form an approximately 8,500-hectare exploration portfolio within the Kenora Gold District. - Exploration Results: Due diligence sampling on the Lavender Property confirmed copper and gold mineralization at surface. - Infrastructure: The properties are located approximately 25 km southeast of Kenora, Ontario, benefiting from excellent infrastructure and access.

This news is a Routine - Positive development for New Age Metals. It aligns perfectly with the company's stated strategy of being a project generator and aggressively seeking new mineral acquisition opportunities, particularly in gold and critical metals, and expanding its diversified portfolio.

Over the past year, NAM has systematically expanded its presence in the Kenora Gold District, starting with the Bonanza Gold Project (October 1, 2025), followed by the Magnet Lake Property (December 9, 2025), and now the Lavender Lake and Gibi Lake South Properties. This steady accumulation of land positions, now totaling 8,500 hectares, indicates a strategic focus on building a district-scale project in an area noted for high-grade Archean lode-gold deposits.

The due diligence sampling confirming copper and gold mineralization is a positive early indicator, consistent with the prospectivity of the region. However, these are early-stage exploration acquisitions with preliminary grab samples, which are selective by nature and do not represent average grades. Significant work (mapping, geophysics, drilling) will be required to define resources.

The financial terms of the option agreement, involving cash and share payments over three years, align with a junior exploration company's funding model and manage short-term capital requirements. The minimum deemed issue price of $0.255 per share is below the current market price of $0.36, offering some value to the vendors, but is subject to a 10-day trading average, which will determine the actual number of shares issued.

Overall, while not a "game changer" as it's an expected part of their growth strategy and still very early-stage exploration, it represents consistent execution on their business model and a positive expansion of their asset base.

New Age Metals Inc. is a Canadian exploration and development company focused on a diversified portfolio of critical and precious metal projects. The company operates as a "project generator," aiming to acquire and develop mineral properties with the objective of optioning them to mid-tier and major producers for through-to-production development.

Flagship Project: The River Valley Palladium Project in Ontario, Canada, is considered the company's flagship asset. It is a 100% owned, multi-million-ounce, district-scale project and is described as one of North America's largest undeveloped Platinum Group Element (PGE) projects. A 2023 Preliminary Economic Assessment (PEA) outlines a smaller, higher-grade operation compared to a previous 2019 PEA, with lower CAPEX and a focus on underground mining and a smaller environmental footprint. The project had been inactive since 2024 due to declining palladium prices but is being prepared for relaunch due to a resurgence in PGM prices in 2025 (Palladium up ~65% YTD, Platinum up ~70% YTD as of October 2025). Measured & Indicated Resource: 2.3 Moz Pd+Pt+Au; Inferred Resource: 1.6 Moz Pd+Pt+Au.

Other Key Projects/Divisions: - Gold-Antimony Division (Newfoundland & Ontario): - Newfoundland: Multiple properties totaling over 19,800 hectares, strategically located along geological trends similar to the past-producing Beaver Brook antimony mine and near New Found Gold's Queensway South gold project. Phase 1 exploration completed, Phase 2 underway, with promising high-grade grab sample results for antimony and gold. The Sentinel Antimony Property is undergoing a modern airborne EM survey to define drill targets. - Bonanza Ridge Gold and Critical Metals Project (Kenora Gold District, Ontario): A rapidly expanding gold and critical metals portfolio now totaling ~8,500 hectares with the recent acquisitions of Bonanza, Magnet Lake, Lavender Lake, and Gibi Lake South properties. Due diligence sampling has confirmed high-grade gold and copper. - Lithium/Rare Element Division (Manitoba): Holds a large mineral claim position in the Winnipeg River pegmatite field, exploring for hard-rock lithium and rare elements (tantalum, rubidium, cesium). Has a farm-in/joint venture agreement with Mineral Resources Ltd. (MinRes), one of the world's largest lithium producers. Benefiting from NSERC Alliance and Mitacs research grants. - Genesis PGM-Cu-Ni Project (Alaska, USA): A 100% owned project with road access, high-capacity power lines, and known mineralization over 9 km. Summer 2025 exploration completed, assay results pending. Actively seeking an option/joint venture partner. - Investment in MetalQuest Mining Inc. (MQM): Holds approximately 12.79% ownership (19.05% diluted) in MQM, which is developing the Lac Otelnuk Iron Ore Project in Quebec, one of North America's largest iron ore projects. High-purity iron ore has been designated a critical metal in Canada.