SAGA Metals Reports Final Titanium, Vanadium and Iron Assays from MRE Drilling-Maiden Mineral Resource Estimate Imminent

Saga Metals Corp. has completed the final assay release for its maiden Mineral Resource Estimate drill campaign at the Trapper Zone of the Radar Ti-V-Fe Project, located near Cartwright, Labrador. The program is now considered complete, with 85 holes (R-0008 to R-0092) totaling 22,432 meters drilled. One hundred percent of the holes intersected oxide mineralization, yielding 13,789 samples in a database described as complete.

Five new holes were reported in this final release, ranging from R-0088 to R-0092. Results for these holes include:

• R-0088: 115.3 m @ 42.56% Fe2O3, 7.00% TiO2, 0.257% V2O5, including 64.0 m @ 36.27% Fe2O3, 6.32% TiO2, 0.183% V2O5
• R-0089: 78.6 m @ 45.26% Fe2O3, 6.97% TiO2, 0.337% V2O5, including 50.0 m @ 50.49% Fe2O3, 7.62% TiO2, 0.407% V2O5; and 31.3 m @ 51.17% Fe2O3, 8.28% TiO2, 0.357% V2O5
• R-0090: 43.0 m @ 32.22% Fe2O3, 5.42% TiO2, 0.175% V2O5, including 20.7 m @ 40.79% Fe2O3, 6.11% TiO2, 0.303% V2O5
• R-0091: 50.9 m @ 39.06% Fe2O3, 6.29% TiO2, 0.234% V2O5
• R-0092: 188.9 m @ 39.54% Fe2O3, 5.94% TiO2, 0.285% V2O5, including 44.0 m @ 54.11% Fe2O3, 8.99% TiO2, 0.369% V2O5; and 26.4 m @ 44.23% Fe2O3, 6.24% TiO2, 0.344% V2O5

The release also recaps the program’s headline holes, including R-0085 (495.6 m @ 37.86% Fe2O3 / 5.51% TiO2 / 0.273% V2O5), R-0075 (485.4 m), R-0072 (470 m), and R-0046 (127.9 m @ 52.94% Fe2O3). Table 2 provides detailed data for all 85 holes, listing azimuth, dip, total depth, from-to intervals, semi-massive oxide metres, rhythmic layering metres, total oxide metres, and TRUE THICKNESS.

Qualified Person Dr. A. Miller, P. Geo., PEGNL, from Impact Global Solutions (IGS) in Montréal, oversees the technical reporting. Resource estimation is led by GeoGlobal LLC under Dr. Abani R. Samal. A NI 43-101 technical report is targeted for completion in Q4 2026.

Metallurgical testwork on bench-scale RCL samples showed recoveries of up to 90.8% Ti, 97.4% V, and 91.5% Fe. Stage 2 optimization is currently underway toward producing high-purity product samples and advancing toward a mini-pilot gate. No cutoff grade is stated in the release.

Saga Metals Corp. (SAGA) is an explorer in the pre-resource stage with no revenue. The company recently released drill results that include several significant intercepts. The best previously reported intercept on the same zone is R-0085, which returned 495.6 m @ 37.86% Fe2O3 / 5.51% TiO2 / 0.273% V2O5, with 284.2 m true thickness (published 2026-10-07). Comparable anchors include R-0072 (470 m, published 2026-09-15) and R-0075 (485.4 m, published 2026-09-23).

The stock has fallen from $0.88 on 28 Jan 2026 to $0.33 on 13 Oct 2026. Since recent high-grade step-outs were published, the share price has been flat to lower, trading at $0.42 on 23 Sep, $0.40 on 29 Sep, $0.35 on 7 Oct, and $0.33 on 13 Oct.

The new best intercepts are R-0092 (7,469 Fe2O3 %-m) and R-0088 (6,878 on true thickness). These carry roughly 40-45% of the anchor's %-metres but at equal-or-better grade (39.5-45.3% Fe2O3 versus 32-38% for the long anchors). Length is down, while grade is flat-to-up. These are closing infill holes on sections N08-N11 drilled at -45 to -50 degrees, versus the anchors drilled at -55 to -70 degrees down the dip of a sub-vertical-ish layered body. Interval length here varies with collar position and hole orientation, not with the strength of the system.

The release does not make the target bigger. There is no new zone with assays, no new depth extent with assays, no new intrusive centre, and no step change in scale. Falcon remains an untested magnetic anomaly. The company closes a database.

The expected share-price impact is likely -2% to +3% on the day, barring a broader tape move. The MRE is the event that will move this stock, and it is the next one.

Saga Metals Corp. (TSXV: SAGA; OTCQX: SAGMF; FSE: 20H) is a pre-revenue critical minerals explorer with a portfolio concentrated in Labrador, Quebec and Newfoundland and Labrador. The executive team referenced in recent releases includes Mike Stier (CEO), Michael Garagan (CGO), and Rob Guzman (IR).

The company’s Radar Ti-V-Fe Project, which is 100% owned in Labrador, comprises 690 mineral claims and nine licences covering approximately 24,175 hectares, located about 10 km south of Cartwright. The property encloses the entire approximately 160 km2 Dykes River Intrusive Complex. A 29 km2 oxide-bearing lopolith hosting the Trapper, Falcon and Hawkeye zones has been validated by drilling, QMAGT full-tensor magnetics, trenching and mapping. To date, 24,641 m have been drilled in the Hawkeye and Trapper zones. Infrastructure includes paved Route 510, a SAGA-built access trail, a deep-water port at Cartwright, the Cartwright Airport, and proximity to Muskrat Falls and Churchill Falls hydroelectric power.

The Wolverine Heavy REE Project, also 100% owned in central Labrador, covers approximately 294.5 km2 across nine licences. It was acquired via the Catalyst Rare Metals share purchase agreement, which closed in July 2026 following an agreement in April 2026. The transaction involved 4,249,982 shares plus C$1M cash upfront and five milestone payments tied to 370 kt and 700 kt contained TREO resources, a US$2.5bn post-tax NPV PEA, and PFS/FS hurdles. The project is hosted in the Flowers River Igneous Suite, which the company compares to Tanbreez and Strange Lake. Historic RC results include up to 48.8 m @ 0.77% TREO with 24-28% HREO, a peak assay of 2.03% TREO, and pegmatite grab samples up to 21.6% TREO. A 4,000-5,000 m diamond programme began in August 2026; holes W26-001 (182 m, 169 m of prospective tuff) and W26-002 have been completed, with assays not yet released.

The Double Mer Uranium Project is 100% owned and covers approximately 25,600 ha, located about 90 km NE of Happy Valley-Goose Bay. It features an 18 km east-west radiometric trend with a 14 km confirmed section, surface samples up to 0.428% U3O8, and radiometrics up to approximately 27,000 cps. The property is permitted and drill-ready, with a winterized 10-person camp built. No drilling has been reported in the provided news flow.

The Legacy Lithium Project in Quebec’s Eeyou Istchee James Bay region covers approximately 72,107-72,701 ha and was consolidated from Legacy and Amirault. LCT pegmatite indicator minerals have been identified in boulder samples, with assays pending. No drill results are available.

The Garneau Titanium Project in Quebec covers approximately 6,450 ha in the Havre-Saint-Pierre Anorthosite Complex and was acquired from Rio Tinto in March 2026. It features a 4.5 x 7.5 km magnetic low with a massive hemo-ilmenite boulder grading 32.4% TiO2, 65.1% Fe2O3 and 2,260 ppm V. No drilling has been conducted.

The North Wind Iron Ore Project was sold to Orion Iron Ore in August 2026 for 4 million Orion shares, a board seat and a 2% gross overriding royalty with a 1% repurchase option.

Financial data reported for FY-2025 (12 months to 31 Jul 2025) shows nil revenue, SG&A of C$3,086,051, a net loss of C$2,421,990, and an operating cash outflow of C$3,238,094. For Q1-2026 (3 months to 31 Oct 2025), the company reported nil revenue, SG&A of C$1,031,692, a net loss of C$1,003,623, and an operating cash outflow of C$1,784,733. Cash holdings were C$1,957,247, total equity was C$7,750,432, book value per share was C$0.14, and shares outstanding were 56,277,887. The company has no revenue or cost of sales. The funding trajectory involves roughly C$19.6M gross raised in the twelve months following, against a C$1M-plus annual marketing budget and a 22,432 m drill programme.