03:12:11 EDT Fri 09 May 2025
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Saga Metals Corp
Symbol SAGA
Shares Issued 32,431,466
Close 2025-03-25 C$ 0.255
Market Cap C$ 8,270,024
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Saga Metals adds 180 claims to Radar project

2025-03-25 20:28 ET - News Release

Mr. Michael Garagan reports

SAGA METALS EXTENDS CLAIMS AT THE RADAR PROJECT BY 26% TO COVER 20KM INFERRED OXIDE ZONE

Saga Metals Corp. has added 180 claims spanning 4,500 hectares, increasing the total size of the Radar titanium-vanadium project from 17,250 hectares to 21,750 hectares. This addition encompasses the 20-kilometre inferred oxide zone starting from the 2025 Hawkeye drill program area heading west toward the new claim boundary.

Michael Garagan, chief geological officer and director of Saga, commented: "Important information garnered from the combined field and drill programs suggests the oxide layer zone at Hawkeye may be contiguous to Trapper and possibly as far as Saga's claim extension. These additional claims were strategic in an effort to ensure we've secured the full extent of mineralization. The team will look to apply magnetic geophysical continuity over the entire inferred layering zone of the Dykes River intrusion. The recently completed drill program over the prospective Hawkeye zone is our proof of concept to a much larger system."

The Radar Ti-V property is located 10 km south of Cartwright in Labrador, Canada. The project now spans 21,750 hectares, and benefits from road access and close proximity to a deepwater port supporting efficient exploration and development.

Radar Ti-V project: inferred oxide zone

Saga's in-house geological team had been tracking and defining the oxide layers on the surface based off of historical analytical geophysics and two summers of exploration. The team was confident that a limb of the oxide zone extended from the Trapper zone to an unnamed anomaly in the northwest. With the completion of the successful maiden drill program that showcased drill hole intercepts of the magnetite-oxide layering zone and its potential extent, the team identified the evidence it needed to track the trend into the northwestern section of the property and, therefore, claimed the final geophysical target in the area.

The inferred layering appears to be continuous from the Hawkeye zone, Trapper zone and the new extension of the property. Whether this is a lopolith feature as defined in the below intrusive model or a fold is yet to be confirmed. Nevertheless, this extensive magnetic anomaly infers the oxide layering trend extends approximately 20 kilometres along strike highlighting the significance of this extension. Saga has made comparisons with other textbook and modelled undeformed layered mafic intrusions such as the Kiglapait intrusion in northern Labrador.

25 maiden drill program

Saga's 2025 maiden drill program aimed to test the core of the magnetic anomaly identified through geophysics at the Hawkeye zone. Initially planned for 1,500 metres, the program was confidently expanded to 2,200 metres after early drilling revealed strong intercepts through the primary layering sequences.

This program confirmed a large mineralized layered mafic intrusion with early indications, suggesting it is moderately undeformed and contains its original primary magmatic textures from over one billion years ago. The Dykes River intrusion (Gower, 2017), which hosts the entirety of the Radar Ti-V project, has been historically mapped over an area of 160 square kilometres, which is similar to, but larger in size than, Greenland's Skargaard intrusion. This size underscores the immense untapped potential of the region for hosting critical metals, including vanadium and titanium, essential to the global green energy transition.

Key findings from drilling include:

  • 130 to 200 metres of intermittent magnetite layering across strike;
  • Consistent correlation between geophysical anomalies and mineralized zones;
  • Layered iron-titanium-vanadium mineralization open at depth.

Saga's exploration team is currently finishing the logging and cutting process with the first shipment of core already sent to the Activation laboratory in Ancaster, Ont. Due to the quantity of samples, the core will be shipped in three phases. Saga's team has prioritized a sequence of drill holes with holes R25-HEZ-01 and R25-HEZ-04 being sent for assaying first. The company anticipates its initial drill results within the next four to six weeks.

R25-HEZ-01 and R25-HEZ-04 were prioritized due to their location on the drill fence, which placed them in a position to fully intercept the main oxide layering sequence. Both of these holes logged magnetite layering sequences between 130 and 200 m across strike.

About Saga Metals Corp.

Saga Metals is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company's flagship asset, the Double Mer uranium project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18-kilometre east-west trend, with a confirmed 14-kilometre section producing samples as high as 4,281 parts per million triuranium octoxide and spectrometer readings of 22,000 counts per second.

In addition to its uranium focus, Saga owns the Legacy lithium property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault lithium project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration and Loyal Lithium.

Saga also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, Saga is strategically positioned to play an essential role in the clean energy future.

Qualified person

Peter Webster, PGeo, chief executive officer of Mercator Geological Services Ltd., is an independent qualified person as defined under National Instrument 43-101, and has reviewed and approved the technical information related to the Radar Ti-V project disclosed in this news release.

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