Mr. Mike Stier reports

SAGA METALS CLOSES NON-BROKERED PRIVATE PLACEMENT

Saga Metals Corp. has closed a financing by way of a non-brokered private placement for aggregate gross proceeds of $3,350,800.20 composed of 6,092,364 flow-through common shares of the company at 55 cents per FT share.

Each FT share will qualify as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the sale of the FT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as such terms are defined in the tax act related to the company's mineral resource properties on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the FT shares, effective Dec. 31, 2026.

The company has paid a total of $164,486.01 and issued an aggregate 299,065 non-transferable finder warrants to arm's-length parties, with each finder warrant exercisable at any time prior to the date that is 24 months from the closing date of the offering to acquire one common share of the company at an exercise price of 95 cents per common share.

All securities issued pursuant to and in connection with the offering, including any securities issuable upon exercise thereof, will be subject to a hold period of four months and one day following the closing date pursuant to applicable securities laws. The offering has been conditionally approved by the TSX Venture Exchange.

About Saga Metals Corp.

Saga Metals is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The 100-per-cent-owned Radar titanium-vanadium-iron project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 square kilometres on the surface near Cartwright, Labrador. Exploration to date, including 24,641 metres of drilling in the Hawkeye and Trapper zones, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite and ilmenite mineralization with consistently uniform grades of titanium, vanadium and iron.

The 100-per-cent-owned Wolverine heavy rare earth element project in Labrador is a near-surface REE system hosted within a peralkaline caldera complex that shares strong geological similarities with the Tanbreez and Strange Lake deposits. Historic drilling identified consistent mineralization with assays up to 2.03 per cent total rare earth oxides including approximately 28 per cent heavy rare earth oxides and grab sample assays up to 21.6 per cent TREO. Large-scale potential is supported by 26 square kilometres of exposed mineralization tuff at surface with about 5 per cent of the prospective unit drilled to date.

The 100-per-cent-owned Double Mer uranium project covers 25,600 hectares and features uranium radiometrics that highlight an 18-kilometre east-west trend, with a confirmed 14-kilometre section producing samples as high as 0.428 per cent triuranium octoxide (2024 Double Mer technical report).

Additionally, Saga owns the Legacy lithium project in Quebec's Eeyou Istchee James Bay region. This project spans 72,701 hectares, and has geological attributes similar to nearby terrains currently being explored by Rio Tinto, Li-FT Power, Soquem and Loyal Metals.

With a portfolio spanning key commodities critical to the clean energy future, Saga is strategically positioned to play an essential role in securing critical minerals.

We seek Safe Harbor.