SAGA Metals Completes Phase 1 & Commences Phase 2 of Drilling at Radar Project in Labrador-Confirms Extensive Oxide Mineralization Over 1.5 Km & Provides Corporate Update

SAGA Metals Corp. announced on 2025-12-03 that it has completed Phase 1 of its 2025 Fall Drill Program at the Radar Project's Trapper Zone in Labrador and has commenced Phase 2. The company completed 1,518 meters of drilling in 6 holes during Phase 1, out of a planned 2,000 meters for the overall program. The drilling reportedly confirmed extensive oxide mineralization over a 1.5 km strike length. Detailed core lengths of semi-massive to massive oxides were reported for holes R-0008 (156 m cumulative), R-0009 (165 m cumulative), R-0010 (139.5 m cumulative plus 11.5 m intercumulus), and R-0011 (58.3 m semi-massive/massive, 27.39 m intercumulus, 52.12 m rhythmic magnetite). Importantly, assay results for these intercepts are still pending.

The news release also included a corporate update regarding finder's fees for prior private placements. This involved cash payments of $33,369.01 USD and the issuance of 114,146 warrants for one tranche, and cash payments of $151,190.88 USD and 555,750 warrants for another. The exercise price and term for these specific warrants were not disclosed.

This news release is a routine positive update on operational progress. The completion of Phase 1 and commencement of Phase 2 of the drill program at the Radar Project demonstrates continued execution of the company's exploration strategy. The reported extensive oxide mineralization over 1.5 km, consistent with visual observations in the drill core, is encouraging as it indicates broad geological continuity. Advisory Board Member Vernon Shein's quote, emphasizing the logical targeting and value of structural geological expertise, supports the company's approach.

However, the material impact is limited by the absence of assay results. While visual confirmation of mineralization is a positive early indicator, the market's primary focus for an exploration company at this stage is concrete quantitative data (i.e., grades of Titanium, Vanadium, and Iron). Previous news releases (e.g., 2025-11-25 and 2025-11-18) already highlighted significant visual intercepts (156m, 165m) and confirmed the geological model, which likely contributed to the stock's recent price appreciation. This release extends those observations to additional holes and strike length but does not provide new information regarding the economic viability or grade of the mineralization.

The corporate update on finder's fees is administrative in nature, relating to past financings. The unspecified terms (exercise price and term) for these newly disclosed warrants prevent a full assessment of their dilutive potential, but on their own, this portion of the news is neutral to slightly negative as it represents costs and potential future dilution.

In summary, while progress is good, this news is more about maintaining momentum rather than a new significant catalyst. It confirms the "presence and continuity" but defers the critical "grade" information, which is necessary to gauge the true material impact.

SAGA Metals Corp. is a Canadian critical minerals exploration company with a diverse portfolio of projects across Labrador and Quebec, Canada. Its primary focus is on key metals vital for the global energy transition: Titanium, Vanadium, Iron, Uranium, and Lithium.

Flagship Project: Radar Titanium-Vanadium-Iron Project (Labrador, Canada) * Ownership: 100% owned. * Size & Location: Spans 24,175 hectares, located 10 km from Cartwright, Labrador, boasting excellent infrastructure (road access, deep-water port, airstrip, hydroelectric power). * Geology: Encompasses the 160 sq km Dykes River intrusive complex, a Mesoproterozoic layered mafic intrusion compared to globally significant VTM deposits like China's Panzhihua and Quebec's Lac Tio. * Mineralization: Hosts extensive vanadiferous titanomagnetite (VTM) in oxide layers, with an inferred strike length exceeding 20 km. * Development Progress: * 2024: Initial prospecting, geological mapping, and soil sampling identified the Hawkeye and Trapper zones. Ground geophysical surveys (magnetic, VLF-EM) at Hawkeye indicated a significant mineralized system (1km wide, 4km long, >600m deep). * Q1 2025: Completed a maiden 2,200-meter drill program (7 holes) at the Hawkeye zone, expanded from an initial 1,500m due to strong early intercepts. Confirmed large mineralized layered mafic intrusion with 130-200m of intermittent magnetite layering. Initial assay results from Hawkeye (e.g., HEZ-07: 20.2m @ 31.35% Fe, 6.32% TiO2, 0.435% V2O5) and petrographic analysis confirmed VTM as the primary economic mineral, suggesting favourable metallurgical processing. * Summer 2025: Strategic infrastructure upgrades (4 km access trail, camp establishment), detailed ground geophysics at the Trapper Zone (revealing extremely high magnetic anomalies up to 115,498 nT), and trenching (504 sq m exposing semi-massive to massive VTM). Identified potential oxide layering extension into the Northwest Zone. * Fall 2025 (latest): Completed Phase 1 (1,518m in 6 holes) and commenced Phase 2 of drilling at the Trapper Zone, confirming extensive oxide mineralization over 1.5 km, consistent with visual observations. Assay results are pending. The goal remains to advance towards a maiden Mineral Resource Estimate (MRE) in 2026.

Other Key Projects: * Double Mer Uranium Project (Labrador, Canada): 100% owned, 25,600 hectares. Drill permits secured (Dec 2024), with a maiden 1,500-2,500m drill program at the Luivik zone scheduled for Q1 2025. Petrographic analysis confirmed uraninite presence along an 18 km trend, with surface samples up to 0.428% U3O8. * Legacy Lithium Project (James Bay, Quebec): 100% owned, 34,243 hectares. Subject to an Option to Joint Venture agreement with Rio Tinto Exploration Canada Inc. (RTEC). RTEC can earn 51% by spending $9.57 million over 4 years (min. $1.71M in 20 months) and making cash payments. A second option allows RTEC to increase its stake to 75% by spending an additional $34.18 million over 5 years. RTEC is the operator. RTEC completed a 2024 field program (mapping, sampling, airborne magnetics) identifying anomalous tantalum and beryllium, suggesting evolved pegmatites. * Amirault Lithium Project (James Bay, Quebec): 100% owned, 31,347.76 hectares, contiguous to Legacy. Exploration program planned for Q2-Q3 2025. * North Wind Iron Ore Project (Labrador, Canada): 100% owned, 6,375 hectares, with high-grade iron ore potential. A 2024 field program confirmed a 4 km mineralization trend.