New Age Metals Enters Into Definitive Option And Joint Venture Agreement With Rockport Capital Corp. On The Genesis NI-CU-PGE Project, Alaska

New Age Metals Inc. (NAM) has entered into a definitive property option and joint venture agreement with Rockport Capital Corp. for its 100%-owned Genesis Ni-Cu-PGE project in Alaska. Under the terms of the deal, Rockport can earn an initial 50% interest, and up to 70% aggregate, by paying $25,000 cash, issuing 1,000,000 Rockport shares to NAM, and funding $250,000 in exploration expenditures within 12 months. An additional 20% interest (70% total) can be earned by paying $10,000, issuing 250,000 Rockport shares, and funding $750,000 in expenditures within 36 months. If the additional interest is not elected, a default 50/50 joint venture is formed with the same obligations.

NAM retains operatorship and receives a 4% operator service fee on exploration expenditures until the initial earn-in, increasing to 8% at the joint venture stage. The transaction is a related-party transaction, as certain NAM directors and officers are also directors, officers, or shareholders of Rockport. Completion is conditional on TSXV acceptance, Rockport minority shareholder approval, Rockport raising $750,000 to $2,000,000 in concurrent financing, and filing a NI 43-101 technical report. The property remains subject to an existing 3% net smelter return (NSR) royalty.

New Age Metals Inc. (NAM) has entered into the Genesis joint venture, a follow-up to the non-binding letter of intent announced on May 6, 2026. The agreement brings external capital and exploration expertise to a non-core asset, allowing the company to advance the project without requiring an immediate cash outlay.

The transaction involves related parties, necessitating scrutiny of the terms, which include cash payments, shares, and exploration spending. These provisions provide NAM with liquidity and help de-risk the Alaska project. While the deal does not materially change the company's core focus on the River Valley PGM project or its Newfoundland gold-antimony division, it aligns with NAM's strategy of advancing its diversified portfolio through joint ventures and option agreements. The market impact is expected to be neutral to slightly positive, as the deal demonstrates management's ability to secure partnerships and fund exploration across its land package.

New Age Metals Inc. (NAM) is a pre-revenue exploration and development company focused on critical and precious metals across North America. The company operates as a project generator, aggressively acquiring and optioning land packages to build a diversified portfolio ahead of infrastructure developments like the Ring of Fire road.

Its flagship asset is the River Valley Palladium Project in Ontario, a multi-million-ounce district-scale property with road access. A 2023 Preliminary Economic Assessment indicated a 16-year mine life producing approximately 47,400 ounces of palladium annually, and the project is currently undergoing PLATSOL metallurgical optimization.

Other key assets include the Genesis PGM-Cu-Ni project in Alaska, the Northern Shield PGM-Cu-Ni project in the Ring of Fire, Ontario, the Newfoundland Gold-Antimony division, and Bonanza Ridge Gold in Kenora, Ontario. The company also holds a 14.39% equity stake in MetalQuest Mining’s Lac Otelnuk Iron Project.