Mr. Harry Barr reports

NEW AGE METALS TO REGAIN FULL CONTROL OF SOUTHEASTERN MANITOBA LITHIUM-CESIUM-TANTALUM PORTFOLIO

New Age Metals Inc. and its wholly owned subsidiary, Lithium Canada Development Inc. (LCD), have simultaneously entered into a termination agreement (the TA) and royalty deed agreement (the RA), dated May 27, 2026, with Lithium Mineral Resources Pty. Ltd., a wholly owned subsidiary of Mineral Resources Ltd. (Australian Securities Exchange: MIN) (MinRes), on the company's lithium and rare metals project located in Manitoba, Canada (the tenements).

The project was previously subject to a farm-in and joint venture agreement (FJVA) between the company, LCD and MinRes, dated Aug. 29, 2022, as amended.

Under the terms of the FJVA:

• MinRes had the right to earn an initial 51-per-cent participating interest in the tenements and associated project assets.
• To earn this initial interest, MinRes was required to complete $4-million in expenditures within 56 months of the effective date of the FJVA.
• The initial farm-in obligation expired on May 27, 2026.
• During the term of the agreement, MinRes made a significant capital investment in the project through various exploration activities, including:
  • District consolidation through staking and acquisitions;
  • Geological mapping, prospecting and systematic geochemical surveys;
  • Geophysical surveys;
  • Diamond drilling;
  • Construction of a core storage facility;
  • Assaying and laboratory analysis.
• In recognition of MinRes's significant investment and work completed on the project, New Age has agreed to grant MinRes a 2-per-cent revenue royalty on the project.
• In turn, MinRes has agreed to pay New Age $135,426, representing all outstanding invoices and financial obligations between the parties under the FJVA as of the date of the termination agreement.

Under the terms of the TA, MinRes has agreed to relinquish all of its rights and interest under the FJVA and will no longer retain any earn-in or joint venture rights in respect of the tenements. All rights and ownership to the tenements will revert back to New Age and it will own 100-per-cent interest in the tenements, subject to the 2-per-cent revenue royalty to be retained by MinRes.

Under the terms of the RA, the company will retain the right to repurchase 1.0 per cent of the revenue royalty at any time for a period of four years from the effective date of the RA upon payment to MinRes of $1.5-million.

In consideration for MinRes agreeing to relinquish its farm-in interests and all other rights under the FJVA, and under the terms of the RA, the company agreed to grant MinRes a 2-per-cent revenue royalty over the tenements pertaining to lithium, cesium and tantalum, and any ores extracted and recovered from the tenements in which lithium, cesium or tantalum is a principal and/or payable element.

Harry Barr, chief executive officer and director of New Age Metals, stated: "We would like to sincerely thank MinRes and their technical and financial teams for their contributions and partnership during the term of our agreement.

"As New Age Metals moves forward with 100-per-cent ownership of the Manitoba lithium and rare metals project, we remain focused on advancing the many drill-ready targets identified across the project, while continuing to develop the next generation of exploration targets through systematic fieldwork and technical review. Our technical team believes the project continues to demonstrate significant potential, particularly in light of strengthening lithium, cesium and tantalum prices, and the growing global focus on critical metal supply security. With full ownership restored, the company will have greater flexibility to advance exploration and development activities in a manner that supports long-term shareholder value.

"New Age Metals also remains committed to working collaboratively with Sagkeeng First Nation under its long-term exploration agreement as the company advances the project."

The Mining Investment Event 2026

New Age Metals' management team is currently attending The Mining Investment Event 2026 in Quebec City, where the company is scheduled to participate in more than 20 meetings with potential investors, major and mid-tier mining companies, first nations partners, government organizations, and other key industry stakeholders. Management looks forward to a productive conference and the opportunity to further advance discussions around the company's growing portfolio of precious and critical metals projects.

About New Age Metals Inc.

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of critical green metal projects in North America. The company has three divisions: a platinum group element division, a lithium/rare metals division, an antimony-gold division, as well as an investment in MetalQuest Mining's (TSX-V: MQM, OTC: MQMIF) high-purity Lac Otelnuk iron project.

The PGM division includes the 100-per-cent-owned, multimillion-ounce, district-scale River Valley project, one of North America's largest undeveloped platinum group element projects, situated 100 kilometres by road east of Sudbury, Ont.

In addition to River Valley, New Age Metals owns 100 per cent of the Genesis PGM-Cu-Ni (platinum group metals-copper-nickel) project in Alaska.

In addition, on Jan. 21, 2026, the company recently expanded its platinum group metals portfolio through the acquisition of the Northern Shield PGM project in Ontario's Ring of Fire region, strengthening its exposure to district-scale mafic-ultramafic systems prospective for nickel, copper and platinum group elements.

On Feb. 26, 2026, the company also acquired the Platreef PGM and Escape East PGM projects, both platinum group metals-nickel-copper (PGM-Ni-Cu) exploration properties located in Northwestern Ontario within and nearby the prospective Lac des Iles Igneous complex. The complex hosts Canada's only primary palladium-producing operation, owned and operated by Impala Canada Ltd., a wholly owned subsidiary of Impala Platinum Holdings Ltd.

New Age Metals' antimony-gold division is focused on advancing a district-scale land package in Newfoundland comprising 20,950 hectares across 11 non-contiguous properties. Six of these properties are located in the St. Alban's area along the Swanger's Cove and Little River mineralized trends, while the remaining five are strategically positioned along the same regional geological corridor as the past-producing Beaver Brook antimony mine and near New Found Gold's Queensway South gold project.

The company recently completed its phase 2 exploration program at the St. Alban's properties, which significantly advanced the project through the identification of high-grade, structurally controlled gold-antimony mineralization along an emerging approximately 16-kilometre Au-Sb (gold-antimony) trend. Highlights from phase 2 include grab samples returning up to 51.9 per cent antimony and 46.2 g/t gold at the Antimony Ridge property, confirming the strength and scale of this developing mineralized system. In response to these results, New Age Metals expanded its land position by staking an additional 40 claims (approximately 1,000 hectares), including the Pardy Head antimony occurrence and has received approvals for trenching in preparation for the next phase of exploration. The company is now planning follow-up trenching and drill targeting for 2026 as it advances this highly prospective critical minerals and gold asset in Newfoundland.

New Age Metals has established a growing gold and critical metals division in the Kenora gold district of Northwestern Ontario, highlighted by its 100-per-cent-owned Double R gold project and the Bonanza Ridge gold and critical metals project. The Bonanza Ridge project has been significantly expanded through option agreements for the Lavender Lake and South Gibi Lake properties, adding a combined approximately 5,216 hectares, or 12,889 acres, of prospective ground located about 25 km southeast of Kenora. Together, these properties are strategically positioned along a favourable structural corridor adjacent to New Age Metals' flagship Bonanza gold property, and host known gold and copper occurrences with limited modern exploration completed to date. The company's consolidated Kenora-area portfolio now includes the Double R gold project and the expanded Bonanza Ridge package, providing New Age Metals with a meaningful land position in an emerging gold and critical metals jurisdiction with substantial opportunities for follow-up fieldwork, structural modelling, target generation and future drill campaigns.

The company has established a Kenora, Ontario-based, field operations hub to support exploration activities across Northwestern Ontario and Eastern Manitoba. The proposed facility would provide centralized logistical, technical and administrative support for regional exploration programs, and is expected to improve field efficiency and co-ordination.

The company's lithium division is one of the largest mineral claim holders in the Winnipeg River pegmatite field, where the company is exploring hard rock lithium and various rare metals such as tantalum, rubidium and cesium.

In April, 2024, a $1.5-million NSERC Alliance grant was awarded to a collaboration led by the University of Manitoba (Dr. Fayek and Dr. Camacho), with academic partners from Lakehead University (Dr. Hollings) and industry partners including New Age Metals and Grid Metals.

This research is focused on advancing Canada's critical metals sector, with New Age Metals' portion targeting its Bird River lithium properties. The 2025 work included core sampling and field visits. The project will likely extend beyond the original three-year term, due to its delayed start. The parties involved in this grant plan to meet over the next 60 days and will announce the company's plans for 2026 and beyond.

The company has optioned its road-accessible Genesis PGM-Cu-Ni project in Alaska subject to a 3-per-cent net smelter return (NSR) Royalty.

On Aug. 6, 2025, New Age Metals announced an additional investment in a fourth critical metal. New Age Metals currently owns approximately 14.39 per cent of MetalQuest Mining (TSX-V: MQM), which has ownership of the development stage Lac Otelnuk iron project, located in the Labrador trough, Quebec.

MetalQuest Mining Inc. is developing one of North America's largest iron projects, where approximately $120-million has been spent on the project. High-purity iron became a critical metal federally in Canada and in the provinces of Quebec and Newfoundland and Labrador in 2024. In the summer of 2025, MetalQuest contracted AtkinsRealis, an international engineering company, to complete a GAP analysis on the Lac Otelnuk project and its 2015 feasibility study.

MetalQuest Mining has expanded its presence in the Ontario Ring of Fire through the acquisition of both the ROF-1 project and the recently announced Fishhook polymetallic project. The Fishhook project further strengthens MetalQuest's regional footprint, targeting polymetallic mineralization prospective for base and critical metals.

Management is currently aggressively seeking new mineral acquisition opportunities on an international scale. The company's philosophy is to be a project generator with the objective of optioning the company's projects with major and junior mining companies through to production.

We seek Safe Harbor.