SAGA Metals Mobilizes Camp Construction Ahead of Drilling at Wolverine Heavy Rare Earth Element Project in Labrador

Saga Metals Corp. has mobilized crews and established camp infrastructure for a planned 4,000 to 5,000-meter diamond drill program at its 100%-owned Wolverine Heavy Rare Earth Element (REE) Project in Labrador. The program aims to generate core samples for detailed geological, structural, and metallurgical analysis to advance the project toward a maiden NI 43-101 mineral resource estimate. This effort follows strong 2025 reverse circulation (RC) results, including intercepts up to 2.03% TREO and heavy rare earth enrichment averaging 24-28%.

The company secured up to $143,949 in non-dilutive government funding under the Provincial Junior Exploration Assistance (JEA) and Federal Critical Mineral Assistance (CMA) 2026 programs. Corporate updates include a renewed C$400,000 digital marketing agreement with Machai Capital Inc. and the grant of 200,000 stock options at $0.50 per option.

Saga Metals Corp. (SAGA) released an update that serves as a direct follow-up to the closing of its April 2026 acquisition and the previously announced 2026 work program, confirming that management is executing on schedule. The announcement contains no new, unexpected, or market-moving information, as the market was already aware of the planned August 2026 diamond drilling. While the news validates operational progress, it lacks the catalyst magnitude to drive a material stock price movement on its own, with the impact being incremental and expected.

Saga Metals Corp. (SAGA) is a Canadian critical minerals explorer and developer focused on Tier-1 jurisdiction assets in Labrador and Quebec. The company’s flagship Radar Critical Minerals Project is 100%-owned and covers 24,175 hectares in Labrador, hosting high-grade vanadiferous titanomagnetite (VTM) and ilmenite. Recent metallurgical scoping achieved 97.4% vanadium and 90.8% titanium recoveries using proprietary RCL technology. The company aims for a maiden MRE in Q4 2026 and a PEA in Q1 2027.

Saga Metals also owns the Wolverine Heavy REE Project, a 100%-owned asset covering approximately 294.5 km² in Labrador. Acquired from Catalyst Rare Metals in April 2026, the project features near-surface, heavy rare earth-enriched mineralization within a peralkaline caldera system. The company aims for a maiden NI 43-101 resource in 2026.

The company’s additional portfolio includes the Double Mer Uranium Project (25,600 ha, drill-ready), the Legacy Lithium Project in Quebec, the Garneau Titanium Project in Quebec, and the North Wind Iron Ore Project.