Announcement , ,

SAGA Reports Broad High-Grade Ti-V-Fe Intercepts from Trapper South

SAGA Metals Reports Assays from R-0030 to R-0035 with Intercepts Including 48.03% Fe2O3, 7.25% TiO2, 0.304% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

TSXV: SAGA OTCQB: SAGMF FSE: 20H

Vancouver, British Columbia — (Newsfile Corp. – May 13, 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-0030, -0031, -0032, -0033, -0034 and -0035 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 six (6) additional diamond drill holes (R-0030 to R-0035) from the MRE drill program reinitiated in 2026, delivering consistent broad intercepts of oxide mineralization.

Key intercepts include:

Hole R-0030
90.95 m @ 42.57% Fe2O3, 5.40% TiO2, 0.303% V2O5
Including 18.7 m @ 50.81% Fe2O3, 6.56% TiO2, 0.398% V2O5
Hole R-0031
108.3 m @ 38.11% Fe2O3, 5.13% TiO2, 0.254% V2O5
Including 43.1 m @ 42.71% Fe2O3, 5.88% TiO2, 0.309% V2O5
Hole R-0032
144.2 m @ 37.13% Fe2O3, 5.04% TiO2, 0.234% V2O5
Including 56.0 m @ 44.68% Fe2O3, 6.50% TiO2, 0.294% V2O5
Hole R-0033
100.6 m @ 44.07% Fe2O3, 6.38% TiO2, 0.286% V2O5
Including 56.0 m @ 48.03% Fe2O3, 7.25% TiO2, 0.304% V2O5
Hole R-0034
126.2 m @ 43.19% Fe2O3, 6.05% TiO2, 0.293% V2O5
Including 63.9 m @ 48.61% Fe2O3, 7.01% TiO2, 0.344% V2O5
Hole R-0035
13.5 m @ 30.98% Fe2O3, 2.93% TiO2, 0.193% V2O5

These results now bring the total MRE drill results from 2026 to twenty (20) diamond drill holes received to date. As reported on March 5, 2026, March 18, 2026, March 31, 2026, April 21, 2026 and April 28, 2026, analytical results from the first fourteen (14) diamond drill holes of the 2026 drill program include:

DDH ID From (m) To (m) Length (m) True Thickness (m) Fe2O3 % TiO2 % V2O5 %
R-001644.094.650.647.152.057.210.375
R-001750.6140.690.073.051.866.760.417
R-001844.7115.070.344.142.645.660.288
R-001966.6112.345.741.649.516.560.374
R-002087.3128.040.731.137.624.930.239
R-002196.0127.431.416.553.187.080.414
R-002262.092.630.628.649.46.610.373
R-0023100.5186.586.054.045.55.50.367
R-0024112.0203.091.058.749.086.230.39
R-0024142.0186.044.028.454.27.070.443
R-0025141.3223.081.758.541.365.180.309
R-0025168.0201.033.023.747.386.010.384
R-0026141.7189.047.327.738.164.650.288
R-0026110.9131.420.512.052.396.550.449
R-002781.2162.080.863.442.745.180.320
R-0028105.7211.0105.354.542.395.400.306
R-0028144.0182.038.019.749.436.500.382
R-002965.2172.0106.895.544.415.360.341
R-002965.2104.038.834.753.026.460.441

Table 1: MRE drill program assay intercepts previously reported in 2026 from drill holes R-0016 – R-0029.

  • Top 10 intercepts from the MRE Drill Program to date can be found in Table 4 below.
  • Completed forty-two (42) holes (R-0016 to R-0057) to date in 2026, with significant oxide intercepts including 198.2 m from R-0046 (true thickness of 113.7) of semi-massive oxide with extensive rhythmic oxide layering.
  • These results bring the total number of reported 2026 MRE holes to nineteen, with multiple holes returning thick oxide core intercepts exceeding 70–126 metres and certain assay intervals frequently above 45–54% Fe2O3, 6–7% 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 11,600 m completed in the Trapper Zone to date.
  • The drill rig is set up on Hole R-0058.
  • Excellent core recovery and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate.

“We are thrilled with the continued success of our maiden Mineral Resource Estimate drilling in the Trapper Zone at the Radar Ti-V-Fe Project. The latest results from holes R-0030 to R-0035 once again deliver broad, consistent zones of high-quality oxide mineralization, with multiple core intercepts exceeding 100 metres now grading over 6% TiO2, accompanied by strong vanadium and iron grades.

It is particularly encouraging and rewarding to see the ore body take shape with oxide mineralization intersected in every one of the 57 drill holes completed to date. These outstanding results across the large Dykes River intrusive complex further confirm the exceptional scale, continuity, and strength of this major mineralized system. We are advancing toward our maiden mineral resource estimate with tremendous confidence in the overall potential of this strategic critical minerals asset.”

— Michael Garagan, CGO & Director, SAGA Metals Corp.

2026 Trapper South Drilling Summary

Figure 1: Trapper South Map

Figure 1: Trapper South map outlining location of the initial 2026 focus for the remainder of the MRE drill program, including cross-sections S14–S4, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

Drill Hole Az / Dip Total Depth (m) From (m) To (m) Semi-Massive Oxide (m) Rhythmic Layering (m) Total Oxide (m) True Thickness (m) Assays Received
R-001638° / -45°20644.0102.045.812.258.053.9✓
R-001738° / -70°16150.6140.687.13.090.173.0✓
R-001838° / -45°18844.7156.465.046.6111.770.1✓
R-001938° / -45°18266.6133.038.028.566.572.8✓
R-002038° / -45°20650.8138.028.558.787.266.7✓
R-002138° / -70°15281.3127.433.512.646.124.3✓
R-002238° / -45°14922.5118.731.659.791.385.3✓
R-002338° / -45°272100.5239.330.676.4107.167.2✓
R-002438° / -45°254108.9219.846.862.1108.968.5✓
R-002538° / -60°275123.0253.66.9118.1125.089.6✓
R-002638° / -60°302108.8273.716.2138.6154.887.4✓
R-002738° / -45°21781.3175.334.259.994.173.9✓
R-002838° / -60°227105.1215.922.587.1109.657.4✓
R-002938° / -45°21465.2184.013.4105.4118.8106.2✓
R-003038° / -60°21183.1189.225.479.6105.057.8✓
R-003138° / -45°21563.4171.62.4105.9108.387.2✓
R-003238° / -60°26353.8214.718.5136.0154.4145.0✓
R-003338° / -45°25167.7203.523.7112.4136.1104.8✓
R-003438° / -60°23348.7214.166.193.5159.7156.9✓
R-003538° / -45°978.566.30.035.035.025.7✓
R-003638° / -70°21247.4128.068.08.676.638.3Pending
R-003738° / -45°20642.6146.050.852.6103.485.2Pending
R-003838° / -70°18245.4146.255.945.0100.973.7Pending
R-0039218° / -45°25184.0196.382.223.3105.5102.1Pending
R-004038° / -70°17038.3130.044.728.773.434.3Pending
R-004138° / -45°1006.684.238.530.969.452.1Pending
R-004238° / -70°16188.6137.426.610.036.624.5Pending
R-004338° / -45°11928.4101.637.535.773.355.9Pending
R-0044218° / -45°17682.9105.819.33.722.916.6Pending
R-0045218° / -45°24539.3223.667.471.7139.196.9Pending
R-0046 a218° / -45°4917.4147.9121.719.3141.0108.0Pending
R-0046 b237.7445.921.4176.7198.2113.7Pending
R-0047218° / -45°305106.1247.450.871.5122.3118.1Pending
R-004838° / -45°24231.7149.311.8105.1116.9109.9Pending
R-004938° / -60°20030.7134.317.486.1103.666.6Pending
R-0050218° / -45°26963.9245.651.994.2146.1103.3Pending
R-005138° / -60°31199.9227.338.588.8127.4—Logging
R-005238° / -45°275Logging in progressLogging
R-005338° / -60°299Logging in progressLogging
R-005438° / -45°269Logging in progressLogging
R-005538° / -60°320Logging in progressLogging
R-005638° / -45°239Logging in progressLogging
R-005738° / -60°233Logging in progressLogging
Total (m)9,550

Table 2: Summary of drill holes R-0016 to R-0057, highlighting oxide intercepts. Logging of R-0051 to R-0057 is in progress. True thickness represents the perpendicular width of the mineralized zone, while total downhole oxide represents the length of mineralization intercepted downhole. Highlighted rows (gold) indicate new results reported in this release.

Program Total Meters Drilled Total Samples
Trapper South 20252,0501,313
Trapper South 20269,5504,500
Trapper Total11,6005,813

Table 3: Summary of total meters drilled in Q4 2025 and 2026 to date, including total core samples cut and prepared.

The latest results from drill holes R-0030, R-0031, R-0032, R-0033, R-0034 and R-0035 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: Drill Holes R-0030 to R-0035

Hole R-0030 — Cross-Section S05
Drilled on section S05 at -60° towards 38°, total depth 211 m. Intersected a 105.0 m oxide zone from 83.1 m to 189.2 m. The interval consists of 79.6 m of well-developed rhythmic layering and 25.4 m of dense semi-massive to massive oxide with euhedral plagioclase and subordinate pyroxene. The oxide zone displays consistent alternating layers of rhythmic banding and semi-massive mineralization, interrupted by a pegmatite intrusion and several faults.
Hole R-0031 — Cross-Section S09
Drilled on section S09 at -45° towards 38°, total depth 215 m. Intersected a 108.3 m oxide zone from 63.4 m to 171.6 m. The interval is composed of 105.9 m of rhythmic banding with 2.4 m of semi-massive oxide. Mineralization is characterized by well-developed rhythmic layering, with thin and thicker semi-massive oxide bands, and several short gabbronorite sections.
Hole R-0032 — Cross-Section S09
Drilled on section S09 at -60° towards 38°, total depth 263 m, undercutting R-0031. Intersected a thick 154.4 m oxide zone from 53.8 m to 214.7 m. Contains 136.0 m of layered material including 18.5 m of semi-massive oxide. Layering is dominated by frequent thin semi-massive oxide bands with multiple interruptions by pegmatite intrusions and short gabbronorite intervals, followed by oscillating layers of rhythmic banding and semi-massive oxide in the lower portion.
Hole R-0033 — Cross-Section S10
Drilled on section S10 at -45° towards 38°, total depth 251 m. Intersected a 136.1 m oxide zone from 67.7 m to 203.5 m. The interval comprises 112.4 m of rhythmic banding (including 5.9 m of intercumulus) and 23.7 m of semi-massive oxide. Mineralization is characterized by rhythmic layering with variations in thickness and spacing, transitions into thicker semi-massive horizons, a short intercumulus section, and minor magmatic slumping.
Hole R-0034 — Cross-Section S10
Drilled on section S10 at -60° towards 38°, total depth 233 m, undercutting R-0033. Intersected a 159.7 m oxide zone from 48.7 m to 214.1 m. The interval comprises 93.5 m of rhythmic layering and 66.1 m of semi-massive oxide. Mineralization begins with layering after a thin felsic dyke, followed by minor magmatic slumping, and includes a long section of semi-massive oxide with gradual transitions through rhythmic layering.
Hole R-0035 — Cross-Section S08
Drilled on section S08 at -45° towards 38°, total depth 97 m. Intersected the top of the oxide layer from 0 to 35.0 m before entering a zone of felsic dykes. Inclusions of oxide mineralization in the felsic dyke and shearing demonstrate that the felsic dykes are post-igneous layering.
Figure 2: Cross Section S5

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, -0029 and R-0030; pending assays for R-0041.

Figure 3: Cross Section S8

Figure 3: Cross section of S8 looking NW showing R-0016, -0017, -0023, -0026, -0035, -0045, and -0046 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, -0026 and -0035; pending assays for R-0045 and R-0046.

Figure 4: Cross Section S9

Figure 4: Cross section of S9 looking NW showing R-0031, -0032, -0037, and -0038 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-0031 and R-0032; pending assays for R-0037 and R-0038.

Figure 5: Cross Section S10

Figure 5: Cross section of S10 looking NW showing R-0033, -0034, -0048, -0049 and -0050 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-0033 and R-0034; pending assays for R-0048, R-0049 and R-0050.

Sampling Summary

Drilling is progressing efficiently, with 9,550 m already completed in 2026 up to drill hole R-0057, and 11,600 m total meters completed for the Mineral Resource Estimate drill program. The drill rig has been moved to drill pad R-0058. IGS Laboratories finalized analysis of 345 samples from R-0036, -0037, and -0038 and released assays yesterday. The Company is reviewing and interpreting the data to release the next set of assays in a week. In addition, 482 samples from R-0039, -0040, -0041, -0042 and -0043 were shipped to IGS and have been received; analysis is beginning. A total of 5,813 samples have been collected to date in the Trapper Zone.

Key Project Highlights

  • Confirmed mineralization in 57 out of 57 drill holes completed and observed in two primary zones to date.
  • 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, demonstrating 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 11,600 m has been completed and reported to date for the MRE drill program.

Analytical results to date include numerous oxide-rich intercepts. Top 10 intercepts from the 2025 & 2026 drilling programs:

DDH ID From (m) To (m) Length (m) True Thickness (m) Fe2O3 % TiO2 % V2O5 %
R-000994.0181.287.284.450.6710.150.339
R-0008170.0237.668.366.246.159.210.311
R-00101.5137.0135.5121.750.037.870.352
R-001773.0140.667.654.955.137.370.448
R-003397.0153.056.043.148.037.250.304
R-001644.094.650.647.152.057.210.375
R-002196.0127.431.416.553.187.080.414
R-0024142.0186.044.028.454.207.070.443
R-0034106.1170.063.962.848.617.010.344
R-001573.3174.0100.788.938.566.800.229

Table 4: Top 10 intercepts from the 2025 & 2026 drilling programs at the Trapper Zone. Gold-highlighted rows indicate new results from this release.

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 6: Radar Property Map

Figure 6: 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.

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.

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 13,809 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.

Additionally, SAGA owns the Legacy Lithium Project in Quebec’s Eeyou Istchee James Bay region, spanning 65,849 hectares, sharing geological continuity with 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

Investor Relations: Rob Guzman

📞 +1 (844) 724-2638

✉️ 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 & Forward-Looking Statements

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. 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.

Source: Saga Metals Corp.

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.

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