Saga Metals arranges $2.98-million private placement

Executive Summary

• Saga Metals Corp. announced a non‑brokered private placement to raise up to $2,988,000 through flow‑through (FT) and hard‑dollar (HD) common share units.
• Proceeds will fund Canadian exploration on the Radar Ti‑V‑Fe project (FT units) and general working capital/IR activities (HD units).
• The company is preparing a 15,000 m drill program at the Radar project’s Trapper zone, slated to start in early November 2025, with extensive trenching, surveying, geophysical work, and camp infrastructure already underway.

Key Details

• Financing Structure
• FT Units: 7.1 million units @ C$0.28 per unit → C$1,988,000 gross proceeds.
  • Each FT unit = 1 flow‑through common share + 1 transferable warrant (½ share purchase right at C$0.50, exercisable for 24 months).
• HD Units: 4.0 million units @ C$0.25 per unit → C$1,000,000 gross proceeds.
  • Each HD unit = 1 common share + ½ warrant (full‑share purchase right at C$0.50, exercisable for 24 months).
• Warrant Terms
• Exercise price: C$0.50 per share.
• Expiry: 24 months from closing, unless accelerated.
• Acceleration clause: If TSX‑V closing price ≥ C$0.75 for ten consecutive trading days, expiry may be moved to 30 days after a news release announcing acceleration.
• Holding Period: All securities subject to a four‑month‑plus‑one‑day hold under applicable securities laws.
• Use of Proceeds
• FT proceeds → Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures on Saga’s Canadian properties.
• HD proceeds → Administrative and general working capital, including investor‑relations activities.
• Finder’s Fees: Company may pay finder’s fees in connection with the offering.

Radar Ti‑V‑Fe Project – Operational Update

• Drill Program Preparation
• Field team on site preparing for a 15,000 m drill program targeting the Trapper zone (3+ km strike).
• Expected start: early November 2025.
• Trench Work
• Completed ~504 m² of trenching; additional high‑pressure power washing and detailed mapping in three trenches to expose clean bedrock and refine 3‑D geological models.
• Survey & Geophysics
• High‑precision GPS, total stations, laser scanning used to map a new 4 km access trail and establish a geophysical baseline for magnetometer calibration.
• Ongoing ground‑based magnetic and VLF‑EM surveys on northern/southern extensions of the Trapper zone (grid: N‑S lines 50 m apart; stations 20 m apart).
• Camp Infrastructure
• Land secured near Cartwright, Labrador for a fully serviced exploration camp (accommodations, kitchen trailer, core shack, office, cut shack, power generation, water storage/filtration, septic system).
• Project Context
• Radar property spans 24,175 ha, includes the entire Dykes River intrusive complex (~160 km²) with excellent logistics (all‑season road, deep‑water port, hydroelectric power, airstrip).
• Hosts oxide‑rich cumulate zones of titanomagnetite and hemo‑ilmenite with vanadium, comparable to major Ti‑V‑Fe deposits worldwide.

Prior Drilling Results (2025 Maiden Program)

• 2,209 m, seven‑hole diamond drill campaign across Hawkeye zone.
• Intersections showed consistent grades of TiO₂, V₂O₅ and Fe; notable lower cumulate layer 300–400 m thick with highest V₂O₅ assays in the upper 100–200 m.

Notable Quotes

(No direct quotes were provided in the release.)