SAGA Metals Drills 485.4 m at 32.21% Fe2O3, 5.30% TiO2, 0.191% V2O5 Including 56.8 m at 49.56% Fe2O3, 8.17% TiO2, 0.339% V2O5 at Radar Critical Minerals Project in Labrador

Saga Metals Corp. (SAGA) has released assay results for seven diamond drill holes, R-0075 through R-0081, from the completed maiden mineral resource estimate (MRE) program at the Trapper Zone of its Radar Ti-V-Fe Project in Labrador. With these results, assays have now been received for 74 of the 85 holes in the program. The remaining 11 holes, R-0082 to R-0092, comprising approximately 1,900 samples, are pending and expected within one to two weeks. The total MRE drill program encompassed 22,432 meters and is now complete.

The reported intercepts are as follows:

• R-0075: 485.4 m @ 32.21% Fe2O3, 5.30% TiO2, 0.191% V2O5 (true thickness 251.3 m); including 129.1 m @ 47.16% Fe2O3, 7.82% TiO2, 0.295% V2O5; including 56.8 m @ 49.56% Fe2O3, 8.17% TiO2, 0.339% V2O5; including 141.6 m @ 40.64% Fe2O3, 6.38% TiO2, 0.262% V2O5.
• R-0076: 32.9 m @ 33.18% Fe2O3, 5.11% TiO2, 0.180% V2O5 (TT 38.4 m).
• R-0077: 23.3 m @ 34.04% Fe2O3, 5.08% TiO2, 0.197% V2O5 (TT 90.5 m); including 12.1 m @ 36.69% Fe2O3, 8.76% TiO2.
• R-0078: 127.3 m @ 40.62% Fe2O3, 6.92% TiO2, 0.236% V2O5 (TT 115.2 m); including 87.9 m @ 44.87% Fe2O3, 7.65% TiO2, 0.275% V2O5.
• R-0079: 133.6 m @ 33.80% Fe2O3, 4.44% TiO2, 0.241% V2O5 (TT 115.1 m).
• R-0080: 63.8 m @ 38.83% Fe2O3, 6.97% TiO2, 0.194% V2O5 (TT 46.0 m); including 35.0 m @ 44.33% Fe2O3, 8.08% TiO2.
• R-0081: 148.5 m @ 44.47% Fe2O3, 7.12% TiO2, 0.287% V2O5 (TT 111.3 m); including 69.2 m @ 50.18% Fe2O3, 8.20% TiO2, 0.329% V2O5.

The company also provided a full 85-hole oxide-intercept table (Table 2), assay intervals for holes R-0008 to R-0074 (Table 1), and a Top-15 table (Table 4).

Saga Metals Corp. (SAGA) is currently in the pre-resource exploration stage with no revenue and a maiden mineral resource estimate (MRE) imminent. Consequently, new drill results are evaluated against established deposit-type bands and existing market pricing.

The market-moving discovery anchor consists of holes R-0009 (87.2 m @ 50.67% Fe2O3, 10.15% TiO2, 0.339% V2O5) and R-0010 (135.5 m @ 50.03% Fe2O3, 7.87% TiO2), published between Jan 5-19, 2026, which featured a best high-grade core of approximately 885 TiO2 %·m. Following these results, the stock rose from approximately $0.30 in Sep 2025 to $0.88 on Jan 28-29, 2026. It has since round-tripped to $0.42 on Sep 22, 2026, representing a decline of approximately 52% from the peak and only approximately 20% above its 52-week low of $0.28. This price action indicates the market is not paying for repetition of similar holes, nor is it punishing a repeat as a miss.

The new best high-grade cores are in-line with, but not materially better than, the anchor and the broader population. The recent intercepts include: * R-0081: 69.2 m @ 50.18% Fe2O3/8.20% TiO2 * R-0078: 87.9 m @ 44.87%/7.65% * R-0075: 56.8 m @ 49.56%/8.17%

These compare to previous population results such as: * R-0046: 54.0 m @ 58.33%/8.78% * R-0039: 52.1 m @ 58.15%/7.68%

The longest whole-hole number, R-0075 at 485.4 m @ 32.21% Fe2O3, is slightly longer but lower-grade than R-0072 (470.0 m @ 36.72% Fe2O3) reported just eight days earlier. The release serves as a competent, in-line resource-definition confirmation that supports the MRE without representing a step-change in grade or width.

Saga Metals Corp. (TSXV: SAGA; OTCQX: SAGMF; FSE: 20H) is a pre-revenue critical-minerals explorer with a portfolio centered on its flagship Radar Ti-V-Fe property in Labrador. The 100%-owned asset encompasses the approximately 160 km2 Dykes River Intrusive Complex, which includes a 29 km2 oxide lopolith comprising the Trapper, Hawkeye, and Falcon zones. The company has completed a maiden Mineral Resource Estimate (MRE) program totaling 22,432 meters. The project benefits from road access, a deep-water port at Cartwright, nearby hydroelectric power, and a regional airport.

In Labrador, Saga also holds the 100%-owned Wolverine Heavy Rare Earth Elements (HREE) property, acquired in 2026. This peralkaline caldera system is part of the Flowers River Igneous Suite. Historical reverse circulation (RC) results included up to 0.77% total rare earth oxides (TREO) over 48.8 meters, with grab samples returning up to 21.6% TREO. A first diamond drilling campaign is currently underway.

The company’s other Labrador assets include the 100%-owned Double Mer Uranium property, covering 25,600 hectares. This site features an 18 km radiometric trend with samples returning up to 0.428% U3O8. In Quebec, Saga holds the 100%-owned Legacy Lithium property, comprising 72,701 hectares in the James Bay region. Additional holdings include the Garneau titanium property in Quebec and residual equity plus a 2% gross overriding royalty rate (GORR) in Orion Iron, following a sale to North Wind.

According to as-reported financials not disclosed in the current release, the latest available period is Q1-2026, covering the three months ended October 31, 2025. During this quarter, the company reported cash of C$1.96 million and total equity of C$7.75 million, representing a book value of approximately C$0.14 per share. Operating cash outflow was C$1.78 million, with a net loss of C$1.00 million. For the fiscal year 2025, ending July 31, 2025, the company recorded selling, general, and administrative expenses (SG&A) of C$3.09 million and a net loss of C$2.42 million.

Subsequent financings have strengthened the company’s treasury relative to the last reported balance sheet. These include a C$6.0 million LIFE financing in December 2025, approximately C$3.4 million in warrant exercises in February 2026, and a C$10.2 million placement in May 2026. These transactions have also increased the share count.