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SAGA Metals Closes Non-Brokered Private Placement

This news release is not for distribution to U.S. newswire services or for dissemination in the United States.

VANCOUVER, B.C. - September 1, 2026 - SAGA Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQX: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discoveries, announces that it has closed a financing by way of a non-brokered private placement for aggregate gross proceeds of C$3,350,800.20 (the "Offering") comprised of 6,092,364 flow-through common shares of the Company (the "FT Shares") at C$0.55 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 "Tax Act").

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 (the "Qualifying Expenditures") related to the Company's mineral resource properties on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2026.

The Company has paid a total of C$164,486.01 and issued an aggregate 299,065 non-transferable finder's warrants (the "Finder's Warrants") to arm's-length parties, with each Finder's Warrant exercisable at any time prior to the date that is 24 months from the closing date of the Offering (the "Closing Date") to acquire one common share of the Company at an exercise price of C$0.95 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.

The securities of SAGA have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold, within the United States, unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.

No securities regulatory authority has reviewed or approved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of SAGA in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About SAGA Metals Corp.

SAGA Metals Corp. 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% owned Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km Superscript 2 on the surface near Cartwright, Labrador. Exploration to date, including 24,641 m of drilling in the Hawkeye and Trapper zones, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with consistently uniform grades of titanium, vanadium and iron.

The 100% 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% TREO including approximately 28% HREO and grab sample assays up to 21.6% TREO. Large scale potential is supported by 26 km2 of exposed mineralization tuff at surface with about 5% of the prospective unit drilled to date.

The 100% owned Double Mer Uranium Project covers 25,600 hectares and features uranium radiometrics that highlight an 18 km east-west trend, with a confirmed 14 km section producing samples as high as 0.428% U3O8. (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.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations

SAGA Metals Corp.

Tel: +1 (844) 724-2638

Email: rob@sagametals.com

www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipates", "expects", "believes", and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking statements pertaining to the Company's plans and objectives in respect of the use of proceeds from the Offering, the incurrence and renunciation of Qualifying Expenditures by the Company and the timing thereof, the tax treatment of the FT Shares, the receipt of final approval from the TSX Venture Exchange and other statements that are not historical facts.. There can be no assurance that such forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company's assets, and the risks detailed in the Company's continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.