SAGA Metals Increases Drilling Capacity with Second Drill Rig at Radar Critical Minerals Project in Labrador as It Nears Completion of MRE Drilling
13:30 Uhr | Newsfile
Vancouver, June 29, 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 that a second diamond drill rig has arrived on site, effectively doubling the Company's drilling capacity to approximately 400 metres per day. The addition of the second rig represents a strategic move to accelerate the completion of the maiden Mineral Resource Estimate ("MRE") diamond drill program at the Trapper Zone while maintaining the schedule for the release of the MRE 43-101 technical report later this year. Drilling has now advanced to hole R-0064, with a total of 13,149 metres completed to date.
With both diamond drill rigs now fully operational, one positioned at Trapper North and the other at Trapper South, the Company has significantly increased its daily advance rates and is executing a more aggressive and systematic drilling strategy. This enhanced operational momentum positions SAGA to efficiently complete the remaining holes required to support its maiden MRE while continuing to expand and define the mineralized footprint at the project.
The Trapper Zone forms part of an oxide corridor that includes the Falcon and Hawkeye Zones spanning 29 square kilometres near the center of the 100%-owned Radar Titanium-Vanadium-Iron Project located10 km by all-weather asphalt and gravel road from Cartwright, Labrador, Canada.
Figure 1: The Radar Property with the Dias QMAGT vertical gradient (Bzz) anomaly footprint shown in red (high-amplitude pixels only). The QMAGT-imaged central oxide-layering corridor validated over 29 km2, encompassing the Trapper Zone, Hawkeye Zone, and the new Falcon Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimageone.jpg
Figure 2: Gladiator Drilling's second diamond drill rig arriving on site at the Radar Project near Cartwright, Labrador
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimagetwo.jpg
Michael Garagan, CGO & Director of SAGA Metals, commented:
"Bringing a second diamond drill rig on site is a significant step forward for the program. It allows us to meaningfully accelerate our drilling and stay firmly on track to complete the holes required for our maiden Mineral Resource Estimate. With strong momentum building, we've now advanced to hole R-0064 as we continue to systematically expand and define the mineralized zones."
Trapper Zone Drilling Highlights
- Analytical results received and reported to date for thirty-nine (39) diamond drill holes (R-0008 to R-0046) from the MRE drill program initiated in Q4 2025, delivering consistent broad intercepts of oxide mineralization.
- Logging up to R-0061 is complete with R-0062 in progress and drilling active on R-0063 & R-0064
- Top 15 intercepts from the MRE Drill Program to date can be found in Table 2 below.
- Completed fifty-seven (57) holes (R-0008 to R-0064) from Q4 2025 to date in 2026, with significant oxide intercepts including 224.1 m from R-0061 (true thickness of 204.7 m) of semi-massive oxide with extensive rhythmic oxide layering.
- MRE drilling to date has returned multiple holes of thick oxide core intercepts exceeding 70-144 metres and certain assay intervals frequently above 45-58% Fe₂O₃, 6-8% TiO₂ and 0.37-0.44% V₂O₅.
- 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 13,149 m completed in the Trapper Zone to date.
- Confirmed 29 km2 central oxide corridor
- Excellent core recovery and representative sampling support ongoing metallurgical testing with the corporate objective to deliver the maiden Mineral Resource Estimate in late 2026.
2026 Trapper South Drilling Summary
| Drill Hole | Azimuth / Dip | Total Depth (m) | From (metres) | To (metres) | Semi-Massive Oxide (m) | Rhythmic Layering (m) | Total Oxide (m) | True Thickness (m) | Assays Received |
| R-0016 | 38° / -45° | 206 | 44.0 | 102.0 | 45.8 | 12.2 | 58.0 | 53.9 | Yes |
| R-0017 | 38° / -70° | 161 | 50.6 | 140.6 | 87.1 | 3.0 | 90.1 | 73.0 | Yes |
| R-0018 | 38° / -45° | 188 | 44.7 | 156.4 | 65.0 | 46.6 | 111.7 | 70.1 | Yes |
| R-0019 | 38° / -45° | 182 | 66.6 | 133.0 | 38.0 | 28.5 | 66.5 | 72.8 | Yes |
| R-0020 | 38° / -45° | 206 | 50.8 | 138.0 | 28.5 | 58.7 | 87.2 | 66.7 | Yes |
| R-0021 | 38° / -70° | 152 | 81.3 | 127.4 | 33.5 | 12.6 | 46.1 | 24.3 | Yes |
| R-0022 | 38° / -45° | 149 | 22.5 | 118.7 | 31.6 | 59.7 | 91.3 | 85.3 | Yes |
| R-0023 | 38° / -45° | 272 | 100.5 | 239.3 | 30.6 | 76.4 | 107.1 | 67.2 | Yes |
| R-0024 | 38° / -45° | 254 | 108.9 | 219.8 | 46.8 | 62.1 | 108.9 | 68.5 | Yes |
| R-0025 | 38° / -60° | 275 | 123.0 | 253.6 | 6.9 | 118.1 | 125.0 | 89.6 | Yes |
| R-0026 | 38° / -60° | 302 | 108.8 | 273.7 | 16.2 | 138.6 | 154.8 | 87.4 | Yes |
| R-0027 | 38° / -45° | 217 | 81.3 | 175.3 | 34.2 | 59.9 | 94.1 | 73.9 | Yes |
| R-0028 | 38° / -60° | 227 | 105.1 | 215.9 | 22.5 | 87.1 | 109.6 | 57.4 | Yes |
| R-0029 | 38° / -45° | 214 | 65.2 | 184.0 | 13.4 | 105.4 | 118.8 | 106.2 | Yes |
| R-0030 | 38° / -60° | 211 | 83.1 | 189.2 | 25.4 | 79.6 | 105.0 | 57.8 | Yes |
| R-0031 | 38° / -45° | 215 | 63.4 | 171.6 | 2.4 | 105.9 | 108.3 | 87.2 | Yes |
| R-0032 | 38° / -60° | 263 | 53.8 | 214.7 | 18.5 | 136.0 | 154.4 | 145.0 | Yes |
| R-0033 | 38° / -45° | 251 | 67.7 | 203.5 | 23.7 | 112.4 | 136.1 | 104.8 | Yes |
| R-0034 | 38° / -60° | 233 | 48.7 | 214.1 | 66.1 | 93.5 | 159.7 | 156.9 | Yes |
| R-0035 | 38° / -45° | 97 | 8.5 | 66.3 | 0.0 | 35.0 | 35.0 | 25.7 | Yes |
| R-0036 | 38° / -70° | 212 | 47.4 | 128.0 | 68.0 | 8.6 | 76.6 | 38.3 | Yes |
| R-0037 | 38° / -45° | 206 | 42.6 | 146.0 | 50.8 | 52.6 | 103.4 | 85.2 | Yes |
| R-0038 | 38° / -70° | 182 | 45.4 | 146.2 | 55.9 | 45.0 | 100.9 | 73.7 | Yes |
| R-0039 | 218° / -45° | 251 | 84.0 | 196.3 | 82.2 | 23.3 | 105.5 | 102.1 | Yes |
| R-0040 | 38° / -70° | 170 | 38.3 | 130.0 | 44.7 | 28.7 | 73.4 | 34.3 | Yes |
| R-0041 | 38° / -45° | 100 | 6.6 | 84.2 | 38.5 | 30.9 | 69.4 | 52.1 | Yes |
| R-0042 | 38° / -70° | 161 | 88.6 | 137.4 | 26.6 | 10.0 | 36.6 | 24.5 | Yes |
| R-0043 | 38° / -45° | 119 | 28.4 | 101.6 | 37.5 | 35.7 | 73.3 | 55.9 | Yes |
| R-0044 | 218° / -45° | 176 | 82.9 | 105.8 | 19.3 | 3.7 | 22.9 | 16.6 | Yes |
| R-0045 | 218° / -45° | 245 | 39.3 | 223.6 | 67.4 | 71.7 | 139.1 | 96.9 | Yes |
| R-0046 a | 218° / -45° | 491 | 7.4 | 147.9 | 121.7 | 19.3 | 141.0 | 108.0 | Yes |
| R-0046 b | 237.7 | 445.9 | 21.4 | 176.7 | 198.2 | 113.7 | Yes | ||
| R-0047 | 218° / -45° | 305 | 106.1 | 247.4 | 50.8 | 71.5 | 122.3 | 118.1 | |
| R-0048 | 38° / -45° | 242 | 31.7 | 149.3 | 11.8 | 105.1 | 116.9 | 109.9 | |
| R-0049 | 38° / -60° | 200 | 30.7 | 134.3 | 17.4 | 86.1 | 103.6 | 66.6 | |
| R-0050 | 218° / -45° | 269 | 63.9 | 245.6 | 51.9 | 94.2 | 146.1 | 103.3 | |
| R-0051 | 38° / -60° | 311 | 99.9 | 227.3 | 38.5 | 88.8 | 127.4 | 83.0 | |
| R-0052 | 38° / -45° | 275 | 68.6 | 235.0 | 19.8 | 140.8 | 160.6 | 134.7 | |
| R-0053 | 38° / -60° | 299 | 77.1 | 279.4 | 35.0 | 167.3 | 202.3 | 132.1 | |
| R-0054 | 38° / -45° | 269 | 18.4 | 202.0 | 35.2 | 85.3 | 120.5 | 97.7 | |
| R-0055 | 38° / -60° | 320 | 70.1 | 291.6 | 67.6 | 73.2 | 140.8 | 82.3 | |
| R-0056 | 38° / -45° | 239 | 84.8 | 220.0 | 24.4 | 69.6 | 94.0 | 56.1 | |
| R-0057 | 38° / -60° | 233 | 92.4 | 194.1 | 43.6 | 52.5 | 96.1 | 83.4 | |
| R-0058 | 38° / -45° | 299 | 71.6 | 138.9 | 0 | 53.02 | 53.0 | 36.21 | |
| R-0059 | 38° / -45° | 377 | 81.9 | 374.9 | 6.2 | 179.6 | 185.7 | 155.2 | |
| R-0060 | 38° / -60° | 335 | 80.9 | 243.4 | 88.9 | 72.0 | 160.9 | 151.5 | |
| R-0061 | 218° / -45° | 287 | 51.9 | 287.0 | 93.5 | 130.6 | 224.1 | 204.7 | |
| R-0062 | 38° / -60° | 251 | Logging in progress | ||||||
| R-0063 | 180° / -45° | Drilling in progress | |||||||
| R-0064 | 218° / -45° | Drilling in progress | |||||||
| Total (m) | 11,099 | ||||||||
Table 1: Summary of drill holes R-0016 to R-0064, highlighting the oxide intercepts. See Figures 4-6 below, which depict the oxide mineralization in cross sections T02, T03 and S11. True thickness represents the perpendicular width of the mineralized zone, while the total downhole oxide represents the length of the mineralization intercepted downhole.
Figure 3: Trapper Zone map outlining location of MRE drill program to be completed in 2026, including cross-sections 0S4-S14 in Trapper South, T02-T03 in Trapper Transition, and N10-N11 in Trapper North showing the TMI of the 2025 Trapper Zone ground magnetic survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_5d12ce4794aafb58_035full.jpg
Detailed Logging Highlights from Drill Hole R-0058 to R-0061
Drill holes R-0058 through R-0061 have been logged and are detailed below, while logging of hole R-0062 is currently in progress. Both diamond drill rigs remain active, with one rig drilling hole R-0063 and the second rig advancing hole R-0064. Cross sections T02 and T03 (Figures 4, 5), depicted below, illustrate the ongoing drilling as it progresses into the transition zone connecting the Trapper North and Trapper South mineralized zones. These sections highlight the continuity of mineralization between the two areas and provide important geological context as the Company continues to expand its understanding of the broader mineralized system at the Trapper Zone.
- Hole R-0058 (Cross-Section T02, Figure 4): Drill hole R-0058 is drilled on cross-section T02 with an azimuth of 38 and a dip of dipping -45°, with a total depth of 299 m. The hole intercepts the oxide zone at 71.5 m where there is a sharp contact between gabbronorite and rhythmic banding. The oxide zone is 53.02 m consisting of rhythmic layering oxide.
- Hole R-0059 (Cross-Section T03, Figure 5): Drill hole R-0059 is drilled on cross-section T03 with an azimuth of 38 and a dip of dipping -45°, with a total depth of 377 m. The oxide zone is 185.7 m consisting of 167.3 m of rhythmic layering, 12.2 m of intercumulus and 6.2 m of semi-massive oxide mineralization.
- Hole R-0060 (Cross-Section T03, Figure 5): Drill hole R-0060 is drilled on cross-section T03, with an azimuth of 38 and a dip of -60°. The drill hole under cuts hole R-0059 with a total depth of 335 m. The oxide zone is 160.9 m consisting of 72 m of rhythmic layering and 88.9 m of semi-massive oxide.
- Hole R-0061 (Cross-Section S11, Figure 6): Drill hole R-0061 is drilled on the same pad as R-0013, cross cutting holes R-0014, R-0015 and R-0051. The drill hole is 287 m in length with an azimuth of 38 dipping -45°. The oxide zone is 224.1m and consists of 131.6 m of rhythmic layering and 93.5 m of semi-massive oxide mineralization.
Figure 4: Cross section of T02 looking NW showing R-0058 highlighting intercepts of oxides layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays are pending for R-0058.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimagefour.jpg
Figure 5: Cross section of T03 looking NW showing R-0059 and -0060, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays are pending for R-0059 and R-0060.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimagefive.jpg
Figure 6: Cross section of S11 looking NW showing R-0012, R-0013, R-0014, R-0015, R-0051 and -0061, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays received for R-0012, R-0013, R-0014, and R-0015 and pending for R-0051 and R-0061.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimagesix.jpg
Sampling Summary
IGS Laboratories confirmed receipt of 450 samples from R-0047, -0048, and -0049. The lab is currently working through the analytical process with assays expected early next week. Assay results will be released by the Company as soon as available. Additionally, SAGA's sampling team is preparing the next shipment of core samples to be sent to the lab next week. A total of 7,644 samples have been collected to date in the Trapper Zone.
Key Project Highlights
- Confirmed mineralization in 61 out of 61 drill holes completed and observed in two primary zones to date.
- Analytical results to date include numerous oxide-rich intercepts, including:
| DDH | FROM | TO | Length | True Thickness | Fe2O3 | TiO2 | V205 |
| ID | m | m | m | m | % | % | % |
| R-0009 | 94.0 | 181.2 | 87.2 | 84.4 | 50.67 | 10.15 | 0.339 |
| R-0008 | 170.0 | 237.6 | 68.3 | 66.2 | 46.15 | 9.21 | 0.311 |
| R-0046 | 20.0 | 74.0 | 54.0 | 43.7 | 58.33 | 8.78 | 0.415 |
| R-0040 | 84.9 | 130.0 | 45.1 | 31.9 | 51.20 | 7.94 | 0.340 |
| R-0010 | 1.5 | 137.0 | 135.5 | 121.7 | 50.03 | 7.87 | 0.352 |
| R-0039 | 97.0 | 149.1 | 52.1 | 50.4 | 58.15 | 7.68 | 0.459 |
| R-0017 | 73.0 | 140.6 | 67.6 | 54.9 | 55.13 | 7.37 | 0.448 |
| R-0045 | 104.0 | 144.0 | 40.0 | 31.1 | 53.69 | 7.32 | 0.441 |
| R-0033 | 97.0 | 153.0 | 56.0 | 43.1 | 48.03 | 7.25 | 0.304 |
| R-0043 | 28.4 | 68.2 | 39.8 | 30.4 | 47.93 | 7.24 | 0.307 |
| R-0016 | 44.0 | 94.6 | 50.6 | 47.1 | 52.05 | 7.21 | 0.375 |
| R-0036 | 80.0 | 114.0 | 34.0 | 17.0 | 50.46 | 7.21 | 0.395 |
| R-0021 | 96.0 | 127.4 | 31.4 | 16.5 | 53.18 | 7.08 | 0.414 |
| R-0024 | 142.0 | 186.0 | 44.0 | 28.4 | 54.20 | 7.07 | 0.443 |
| R-0034 | 106.1 | 170.0 | 63.9 | 62.8 | 48.61 | 7.01 | 0.344 |
Table 2: Top 15 intercepts from the 2025 & 2026 drilling programs at the Trapper Zone
- Infrastructure including road access, deep-water port, nearby hydro-electric power and regional airport.
- Confirmed a 29.0 km2 central oxide corridor (Figure 1, 7) that encompasses the Trapper, Falcon and Hawkeye Zones, demonstrating district-scale potential.
- Consistent grades and thicknesses with semi-massive to massive oxide reporting up to 72.33% Fe2O3,13.3% TiO2, and 0.66% V2O5.
- Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing.
- A total of 13,149 m has been completed and reported to date. Figure 3 shows the regularly spaced drill holes along the South Trapper zone along with mineralized intercepts (Tables 1, 2) that will permit delivery of the maiden MRE in late 2016.
About the Radar Critical Mineral Property in Labrador
The Radar Property comprises 690 mineral claims across 9 mineral licenses, totalling approximately 24,175 hectares in southeastern Labrador, located approximately 10 km south of Cartwright. The Property entirely encloses the Dykes River Intrusive Complex (~160 km² at the surface) and is accessible year-round via paved Route 510, a Cartwright logging road, and a SAGA-constructed access trail. Infrastructure advantages include the deep-water port at Cartwright, the Cartwright Airport (YRF), and proximity to regional hydroelectric power from Muskrat Falls and Churchill Falls.
Diamond drilling, geophysics, trenching and geological mapping have confirmed a 29 km2 oxide corridor encompassing the Trapper, Falcon and Hawkeye Zones. VTM mineralization at Radar is comparable to that of global Fe-Ti-V systems such as Panzhihua (China) and Bushveld (South Africa). Subject to further exploration, resource definition, and metallurgical testing, the Project may represent a strategic source of titanium, vanadium, and iron for North American markets.
Figure 7: The Radar Property with the Dias QMAGT vertical gradient (Bzz) anomaly footprint shown in red (high-amplitude pixels only). The QMAGT-imaged central oxide-layering corridor validated over a 29 km2 area, encompassing the Trapper Zone, Hawkeye Zone, and the new Falcon Zone, with additional targets highlighted to the west and north. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/303212_303212sagaimageseven.jpg
Consulting Agreement with Simone Capital Corp.
In addition, the Company reports that it has renewed its relationship with Simone Capital Corp. ("Simone Capital") through a consulting agreement dated July 1, 2026 (the "Consulting Agreement"). Pursuant to the Consulting Agreement, Simone Capital will, among other things, provide the Company with consulting and marketing services consisting of roadshows, coordinating introductory meetings and presentations with potential investors, daily outreach to the investment community, phone, email and social media marketing campaigns, webinars and capital markets advisory services (the "Simone Services") for a period of 180 days.
In consideration of the Simone Services, the Company has agreed to pay Simone Capital a fee of C$10,000 per month (plus applicable taxes) over the six month term.
Anthony Simone, the President of Simone Capital - with a head office located at Suite 201, 907 Alness St, North York, ON, M3J 2J1 - will be involved in conducting the Simone Services. Anthony Simone and Matthew Benedetto, the principals of Simone Capital, each own 500,000 common shares of the Company.
The terms and conditions of the Consulting Agreement remain subject to approval of the TSX Venture Exchange.
Qualified Person
Dr. A. Miller, 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.
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 15,358 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 72,701 hectares and has similar lithological-mineralization attributes that are comparable to adjacent and nearby land packages currently being 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303212