SAGA Metals Reports Assays from R-0027 to R-0029 with Intercepts Including 53.02% Fe2O3, 6.46% TiO2, 0.441% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

13:30 Uhr  |  Newsfile

Vancouver, April 28, 2026 - 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-0027, -0028 and -0029 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-0027 to R-0029) from the MRE drill program reinitiated in 2026, delivering consistent broad intercepts of oxide mineralization.
• Key intercepts include:
  • Hole R-0027: 80.8 m @ 42.74% Fe₂O₃, 5.18% TiO₂, 0.320% V₂O₅
  • Hole R-0028: 105.7 m @ 42.39% Fe₂O₃, 5.40% TiO₂, 0.306% V₂O₅
    • Including 38 m @ 49.43% Fe₂O₃, 6.50% TiO₂, 0.382% V₂O₅
  • Hole R-0029: 106.8 m @ 44.41% Fe₂O₃, 5.36% TiO₂, 0.341% V₂O₅
    • Including 38.8 m @ 53.02% Fe₂O₃, 6.46% TiO₂, 0.441% V₂O₅
• These results now bring the total MRE drill results from 2026 to fourteen (14) diamond drill holes received to date. As reported on March 5, 2026, March 18, 2026, March 31, 2026, and April 21, 2026, analytical results from the first eleven (11) diamond drill holes of the 2026 drill program include:

Table 1: MRE drill program assay intercepts reported in 2026 from drill holes R-0016 - R-0026.

• Top 10 intercepts from the MRE Drill Program to date can be found in Table 4 below.

• Completed thirty (40) holes (R-0016 to R-0055) to date in 2026, with significant oxide intercepts including 198.16 m (R-0046) of semi-massive oxide with extensive rhythmic oxide layering.
• These results bring the total number of reported 2026 MRE holes to eleven, with multiple holes returning thick oxide core intercepts exceeding 70-90 metres and certain assay intervals frequently above 45-54% Fe₂O₃, 6-7% TiO₂ and 0.37-0.44% V₂O₅.
  • Including multiple 100+ m core intercepts grading over 5% TiO₂.
• Rhythmic banding and semi-massive to massive oxide mineralization are observed consistently in Trapper South, aligning with prior high-grade results from Trapper North.
• Drilling is progressing efficiently, with 11,128 m completed in the Trapper Zone to date. Hole R-0056 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:

"I am very pleased with the ongoing success of our maiden Mineral Resource Estimate drilling in the Trapper Zone. The latest results from holes R-0027, R-0028, and R-0029 continue to deliver broad, consistent zones of high-quality oxide mineralization.

It is particularly encouraging to see multiple core intercepts now exceeding 100 metres grading over 5% TiO₂ with substantial higher-grade zones. Combined with the fact that we have intersected oxide mineralization in all 55 drill holes completed to date at the Radar Project, this gives us tremendous confidence in the scale, continuity, and overall strength of the mineralized system as we advance toward our maiden mineral resource estimate."

2026 Trapper South Drilling Summary

Table 2: Summary of drill holes R-0016 to R-0055, highlighting the oxide intercepts. Logging of R-0047 to R-0055 is in progress. See Figures 2 & 3 below, which depict the oxide mineralization in cross sections S5 and S6. True thickness represents the perpendicular width of the mineralized zone, while the total downhole oxide represents the length of the mineralization intercepted downhole.

Table 3: 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 S13, 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 latest results from these drill holes, R-0027, R-0028, and R-0029, once again demonstrate excellent continuity across broad zones of oxide mineralization, underscoring the growing potential for a sizable mineral resource that could create meaningful long-term value for SAGA shareholders.

Detailed Logging Highlights from Drill Hole R-0027 to R-0029

• Hole R-0027 (Cross-Section S06): Drill hole R-0027 was drilled on section S06 with an attitude of -45° towards 38° with a total depth of 217 m. The hole collared in gabbronorite and cut a gradational contact at 81.23 m with rhythmic oxide layering. The oxide zone spans a core interval of 94.1 m (true thickness of 73.89 m). The oxide zone includes rhythmic oxide layering (59.86 m) and semi-massive oxide. (34.24 m). The oxide zone ends at 175.33 m at a gradational contact between rhythmic oxide layering and gabbronorite.
• Hole R-0028 (Cross-Section S06): Drill hole R-0028 under cut hole R-0027, drilled on section S06 with an attitude of -60° towards 38° with a total depth of 227 m. The hole collared in gabbronorite and shows a gradational contact with rhythmic oxide layering at 105.07 m. The oxide zone spans a core interval of 109.56 m (true thickness of 57.38 m). The oxide zone includes rhythmic oxide layering (87.1 m) and semi-massive oxide (22.46 m). The oxide zone ends at 215.93 m at a gradational contact between rhythmic oxide layering and gabbronorite.
• Hole R-0029 (Cross-Section S05): Drill hole R-0029 was drilled on section S05 with an attitude of -45° towards 38° with a total depth of hole of 214 m. The hole was collared in gabbronorite and is in a faulted contact with rhythmic oxide layering at 65.2 m. The oxide zone spans a core interval of 118.77 m (true thickness of 106.17 m. The oxide zone includes rhythmic oxide layering (105.39 m) and semi-massive oxide (13.38 m). The oxide zone ends at 183.97 m at a gradational contact between rhythmic oxide layering and gabbronorite.

Figure 2: Cross section of S5 looking NW showing R-0020, -0021, -0029, -0030, and -0041 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-0020, -0021 and -0029 and pending assays for R-0030 and R-0041.

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Figure 3: Cross section of S6 looking NW showing R-0019, -0027, -0028, -0042, -0043, -0044, and -0047 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-0019, -0027, and -0028 with pending assays for R-0042, R-0043, R-0044, and R-0047.

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Sampling Summary

Drilling is progressing efficiently, with 9,078 m already completed in 2026 up to drill hole R-0055, and 11,128 m total meters completed for the Mineral Resource Estimate drill program. The drill rig has been moved to drill pad R-0056. IGS Laboratories finalized analysis of 710 samples from R-0030, -0031, -0032, -0033, -0034, and -0035 and released assays early this week. The Company is reviewing and interpreting the data to release the next set of assays in a week. In addition, 349 samples from R-0036, -0037, and -0038 were shipped to IGS and have been received; analysis is beginning. A total of 5,205 samples have been collected to date in the Trapper Zone.

Key Project Highlights

• Confirmed mineralization in 55 out of 55 drill holes completed and observed in two primary zones to date.

• Analytical results to date include numerous oxide-rich intercepts, including:

Table 4: 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 11,128 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 13,337 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 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 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

For more information, contact:

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.

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