SAGA Gains 4.21%: Maiden Drilling Underway at Wolverine

SAGA Metals (TSXV: SAGA) gained by 4.21% today to $0.495 per share. SAGA's maiden 4,000-5,000 metre diamond drill program at its 100% owned Wolverine Heavy Rare Earth Project in Labrador is taking place right now.

One year ago, in July/August 2025 prior to SAGA acquiring the project, 25 widely spaced shallow reverse circulation (RC) holes totaling 817.4 metres were drilled at Wolverine, averaging 32.696 metres per hole. 100% of the holes drilled hit Rare Earth mineralization across a 1.7 km by 1.2 km zone within the peralkaline caldera system.

Examples of last year's intercepts from some of the deeper holes include:

• WOLRC25-002: 51.8 m @ 0.52% TREO from surface (includes 33.5 m @ 0.67% TREO).
• WOLRC25-003: 48.8 m @ 0.77% TREO from 1.5 m depth (includes 18.3 m @ 1.06% TREO).
• WOLRC25-006: 38.1 m @ 0.71% TREO from surface (includes 4.6 m @ 1.53% TREO).

The early evidence we have from preliminary drilling in 2025 suggests the presence of a 25-50m thick near-surface layer of Rare Earth mineralization with Heavy Rare Earth Elements (the rarest and most valuable of all REEs) averaging approximately 24% to 28% of the TREO. Importantly, these intercepts and grades appeared to be consistent across widely spaced holes.

The REE target layer at Wolverine is gently dipping (sloping downward), which caused some of the shallowest RC holes to miss the main mineralized body. For example, WOLRC-25-013 (a 3.1-meter hole) and WOLRC-25-004 (a 6.1-meter hole) were simply too shallow to reach the target layer… but even the six shallowest holes that didn't reach the target layer still managed to hit low-grade REE mineralization below the 0.20% cut-off.

If SAGA can successfully prove that a 25-50m thick (let's say 37.5m on average) near-surface layer of Rare Earth mineralization exists consistently across this 1.7 km by 1.2 km zone, even if the average grade is only 0.50% TREO, with an average heavy rare earth oxides contribution of approximately 24-28%, it would almost definitely rank Wolverine among the top 10 largest REE projects in North America.

However, this 1.7 km by 1.2 km zone where a total of 817.4 metres were drilled last summer represents only 2.04 square kilometers of Wolverine's total 26 square kilometer footprint where consistent rare earth element (REE) mineralization has been identified.

We can't speculate about this 25-50m thick near-surface layer of Rare Earth mineralization existing across the entire 26 square kilometer footprint because only 8% of it was drilled last year and we have no evidence to support this theory. Obviously, if it did, SAGA's Wolverine could one day rank at or near the very top of the list of North America's largest REE projects.

We also can't speculate about whether there is potential for additional layers of REEs to exist at greater depths because the deepest hole last year only went to 57.9 meters.

The craziest thing about all of this is SAGA already owns the most important newly discovered Titanium/Vanadium/Iron project in North America at its 100% owned Radar Critical Minerals Project, where they've so far drilled 22,432 metres and hit oxide mineralization in every single hole for a perfect 100% success rate. The maiden resource estimate for SAGA's Radar Critical Minerals Project will be released shortly.

SAGA at $0.495 per share appears to be receiving no value at all for Wolverine!

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from SAGA of US$100,000 cash for a twelve-month marketing contract. This message is for informational and educational purposes only and does not provide investment advice.