SAGA Metals Corp. Reports Assays from R-0024 to R-0026 with Intercepts

21.04.2026  |  Newsfile

Including 54.20% Fe2O3, 7.07% TiO2, 0.443% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

Saga Metals Corp. (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) ("SAGA" or the "Company"), a North American exploration company focused on critical mineral discoveries, is pleased to report additional assay results from drill holes R-0024, -0025 and -0026 completed in 2026 as part of its ongoing maiden Mineral Resource Estimate ("MRE") diamond drill program at the Trapper Zone within the 100%-owned Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador, Canada.

Trapper South Assay Highlights

• Analytical results received for three (3) additional diamond drill holes (R-0024 to R-0026) from the MRE drill program reinitiated in 2026, delivering consistent broad intercepts of oxide mineralization.
• Key intercepts include:
  • Hole R-0024: 91 m @ 49.08% Fe₂O₃, 6.23% TiO₂, 0.390% V₂O₅
    • Including 44 m @ 54.20% Fe₂O₃, 7.07% TiO₂, 0.443% V₂O₅
  • Hole R-0025: 81.7 m @ 41.36% Fe₂O₃, 5.18% TiO₂, 0.309% V₂O₅
    • Including 33 m @ 47.38% Fe₂O₃, 6.01% TiO₂, 0.384% V₂O₅
  • Hole R-0026: 47.3 m @ 38.16% Fe₂O₃, 4.65% TiO₂, 0.288% V₂O₅
    • Including 20.5 m @ 52.39% Fe₂O₃, 6.55% TiO₂, 0.449% V₂O₅
• These results now bring the total MRE drill results from 2026 to eleven (11) diamond drill holes received in 2026. As reported on March 5, 2026, and March 18, 2026, analytical results for the first eight (8) diamond drill holes of the 2026 drill program included:
  • Hole R-0016: 50.60 m @ 52.05% Fe₂O₃, 7.21% TiO₂, 0.375% V₂O₅
  • Hole R-0017: 90.01 m @ 51.86% Fe₂O₃, 6.76% TiO₂, 0.417% V₂O₅
  • Hole R-0018: 70.3 m @ 42.64% Fe₂O₃, 5.66% TiO₂, 0.288% V₂O₅
  • Hole R-0019: 45.7 m @ 49.51% Fe₂O₃, 6.56% TiO₂, 0.374% V₂O₅
  • Hole R-0020: 40.7 m @ 37.62% Fe₂O₃, 4.93% TiO₂, 0.239% V₂O₅
  • Hole R-0021: 31.38 m @ 53.18% Fe₂O₃, 7.08% TiO₂, 0.414% V₂O₅
  • Hole R-0022: 30.60 m @ 49.40% Fe₂O₃, 6.61% TiO₂, 0.373% V₂O₅
  • Hole R-0023: 86 m @ 45.50% Fe₂O₃, 5.50% TiO₂, 0.367% V₂O₅
• Top 10 intercepts from the MRE Drill Program can be found in Table 3 below.
• Completed thirty (37) holes (R-0016 to R-0052) to date in 2026, with significant oxide intercepts including true thickness of 156.89 m (R-0034) of semi-massive oxide with extensive rhythmic layering.
• These results bring the total number of reported 2026 MRE holes to eleven, with multiple holes returning thick oxide intercepts exceeding 70-90 metres and head grades frequently above 45-54% Fe₂O₃, 6-7% TiO₂ and 0.37-0.44% V₂O₅.
• Rhythmic banding and semi-massive to massive oxide mineralization observed consistently, aligning with prior high-grade results from Trapper North.
• Drilling is progressing efficiently, with 10,237 m completed in the Trapper Zone to date. Hole R-0053 is in progress.
• Excellent core recovery and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate.

Michael Garagan, CGO & Director of SAGA Metals, commented:
"We are very pleased to report yet another set of strong and consistent assay results from the fast-developing Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador. Drill holes R-0024 to R-0026 have delivered broad, high-grade oxide intercepts, highlighted by 91 m grading 49.08% Fe₂O₃, 6.23% TiO₂, 0.390% V₂O₅ in R-0024, including 44 m at 54.20% Fe₂O₃, 7.07% TiO₂, and 0.443% V₂O₅. These results further confirm the impressive scale, grade continuity, and metallurgical potential of the Trapper Zone as we advance toward our maiden mineral resource estimate. Furthermore, we are all looking forward to the previously announced airborne geophysics over the entire magnetic anomaly that is set to commence this week. This will be the first opportunity to uncover the true size and scale of the oxide strike that extends from the Hawkeye zone to the Trapper zone."

2026 Trapper South Drilling Summary

Table 1: Summary of drill holes R-0016 to R-0052, highlighting the oxide intercepts. Logging of R-0046 to R-0052 is in progress. See Figures 2 & 3 below, which depict the oxide mineralization in cross sections S7 and S8. True thickness represents the perpendicular width of the mineralized zone, while the total downhole oxide represents the length of the mineralization intercepted downhole.

Table 2: Summary of total meters drilled in Q4 2025 and 2026 to date, including total core samples cut and prepared.

Figure 1: Trapper South map outlining location of the initial 2026 focus for the remainder of the MRE drill program to be completed in 2026, including cross-sections S12, S11, S10, S9, S8, S7, S6, S5, and S4, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

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The results from three additional drill holes (R-0024, R-0025, and R-0026) continue to demonstrate broad and consistent oxide mineralization, reinforcing the potential for a robust resource base that could drive long-term value for our shareholders.

Detailed Logging Highlights from Drill Hole R-0024 to R-0026

• Hole R-0024 (Cross-Section S07): In hole R-0024, the oxide zone begins at 108.87 m and extends to 219.76 m, for a total thickness of 108.87 m (true thickness 68.52 m). The interval consists of intercalated rhythmic oxide layering (62.11 m) and semi-massive oxide (46.76 m). The zone is bounded by multiple magmatic contacts and offset by several faults, including a notable fault at 170.23 m and another at 174 m marked by a felsic dyke. The lower contact of the oxide zone is a magmatic contact with a felsic dyke at 219.76 m.
• Hole R-0025 (Cross-Section S07): Hole R-0025 undercut R-0024 at a 60° inclination, intersected a 125 m thick oxide zone (true thickness 89.60 m) from 122.96 m to 253.6 m. The interval is dominated by rhythmic oxide layering totalling 118.08 m, with 6.92 m of semi-massive oxide. The oxide zone comprises multiple stacked sections of rhythmic layering and semi-massive oxide separated by both magmatic and fault contacts. The lower contact at 253.6 m is with gabbronorite containing weak magnetite in foliation and shear planes.
• Hole R-0026 (Cross-Section S08): In hole R-0026, which undercut R-0023, the oxide zone intersects from 108.75 m to 273.63 m, giving a total thickness of 154.77 m (true thickness 87.38 m). The zone consists primarily of rhythmic oxide layering totalling 138.55 m, with 16.24 m of semi-massive oxide. The sequence shows repeated transitions between rhythmic layering, semi-massive oxide, and intervals of inconsistent or disseminated magnetite, including several abrupt internal contacts and a 2 m pegmatite intrusion. The oxide zone ends at a sharp contact with gabbronorite before being cut by a felsic dyke at 277.42 m.

Figure 2: Cross section of S7 looking NW showing R-0018, -0024, -0025 and -0036, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0018, -0024 and -0025 and pending assays for R-0036.

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Figure 3: Cross section of S8 looking NW showing R-0016, -0017, -0023, -0026, and -0035, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0016, -0017, -0023 and -0026 with pending assays for R-0035.

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Sampling Summary

Drilling is progressing efficiently, with 8,187 m already completed in 2026 up to drill hole R-0052, and 10,237 m total meters completed for the Mineral Resource Estimate drill program. The drill rig has been moved to drill pad R-0053. IGS Laboratories finalized analysis of 410 samples from R-0027, -0028, and -0029 and released assays late last week. The Company is reviewing and interpreting the data to release the next set of assays shortly. In addition, 710 samples from R-0030, -0031, -0032, -0033, -0034, and -0035 were shipped to IGS and have been received; analysis is beginning. A total of 4,910m samples have been collected to date in the Trapper Zone.

Key Project Highlights

• Confirmed mineralization in 52 out of 52 drill holes completed and observed in two primary zones to date.
• Analytical results to date include numerous oxide-rich intercepts, including:

Table 3: Top 10 intercepts from the 2025 & 2026 drilling programs at the Trapper Zone

• Infrastructure including road access, deep-water port, nearby hydro-electric power and airstrip.
• Confirmed the 16+ km oxide layering trend that stretches from the Hawkeye Zone to the Trapper Zone demonstrates district-scale potential.
• Consistent grades and thicknesses with semi-massive to massive oxide reporting up to 72.33% Fe,13.3% TiO₂, and 0.66% V₂O₅.
• Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing.
• A total of 10,237 m has been completed and reported to date for the MRE drill program. See Figure 1 showcasing 2026 drilling in Trapper South reported to date.

About the Radar Critical Mineral Property in Labrador

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (about 160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Figure 4: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill programs. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid with ground-based geophysical data, as shown.

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Vanadiferous titanomagnetite ("VTM") mineralization at Radar is comparable to global Fe-Ti-V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 5: Radar Project's prospective oxide layering zone validated over about 16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

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Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

Technical Information

Diamond drill core was logged and sampled by Company personnel at SAGA's core facility in Cartwright, Labrador. The drill core diameter was NQ. The core was cut lengthwise using a diamond saw, and one half was retained in the core box, while the other half was sampled at designated intervals for analysis.

Core samples were prepared and analyzed at the Impact Global Solutions (IGS) laboratory facility in Montréal, Québec. As part of the analytical quality assurance and quality control (QA/QC) program, certified reference standards, blanks, and duplicate samples were inserted into the sample stream at regular intervals to monitor analytical accuracy and precision.

Crush rejects and pulp samples are retained and stored in a secure facility for potential future verification and re-analysis. The Company maintains a rigorous QA/QC protocol consistent with industry standard practices.

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 Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including 12,446 m of drilling, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.

The Company has signed a definitive agreement to acquire 100% of the Wolverine Heavy Rare Earth Element Project in Labrador, a near-surface REE system hosted within a peralkaline caldera complex that shares strong geological similarities with the Tanbreez and Strange Lake deposits. The project features consistent mineralization, with zones spanning 26 km², including drill assays up to 2.03% TREO with approximately 28% HREO content, and sample assays up to 21.6% TREO.

The Double Mer Uranium Project covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km 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 65,849 hectares and shares significant geological continuity with other major players in the area, including 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

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 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 information pertaining to the Company's Radar Project. There can be no assurance that such 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 information 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 information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. This cautionary statement expressly qualifies forward-looking statements contained in this news release. 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.