{"id":7900,"date":"2026-04-14T09:30:00","date_gmt":"2026-04-14T13:30:00","guid":{"rendered":"https:\/\/www.inflation.us\/news\/?p=7900"},"modified":"2026-04-14T10:23:18","modified_gmt":"2026-04-14T14:23:18","slug":"saga-acquires-high-grade-heavy-ree-project-in-labrador-with-2-treo-hits","status":"publish","type":"post","link":"https:\/\/www.inflation.us\/news\/announcement\/saga-acquires-high-grade-heavy-ree-project-in-labrador-with-2-treo-hits\/","title":{"rendered":"SAGA Acquires High-Grade Heavy REE Project in Labrador with 2%+ TREO Hits"},"content":{"rendered":"\n
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SAGA Metals Signs Definitive Agreement to Acquire Wolverine Heavy Rare Earth Element Project in Labrador<\/h1>\n

Mineralized Potential Similar to Strange Lake and Tanbreez<\/p>\n <\/div>\n

Press Release  |  April 14, 2026  |  09:30 ET<\/p>\n \n

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\n SAGA Metals Corp.<\/strong>  | \n TSXV: SAGA<\/strong>  | \n OTCQB: SAGMF<\/strong>  | \n FSE: 20H<\/strong>  | \n VANCOUVER, British Columbia<\/span>\n <\/p>\n <\/div>\n\n \n

\n SAGA Metals Corp.<\/strong> (“SAGA” or the “Company”) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discoveries, is pleased to announce that it has entered into a share purchase agreement dated April 13, 2026 (the “SPA”) with Catalyst Rare Metals Ltd. (“Catalyst”) and each of the shareholders thereof (collectively, the “Vendors”), pursuant to which SAGA will acquire all of the issued and outstanding shares of Catalyst, which itself holds a 100% interest in the Wolverine rare earth element (“REE”) project<\/strong> (the “Wolverine REE Project”), a royalty-free, heavy rare earth project located near the coast of central Labrador, Canada (the “Acquisition”).\n <\/p>\n\n\n

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★ Wolverine REE Project Highlights<\/h2>\n
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  • 2025 reverse circulation (“RC”) drilling confirmed broad, near-surface REE mineralization<\/strong> across a 1.7 km \u00d7 1.2 km area<\/strong> hosted within a significant peralkaline caldera system.<\/li>\n
  • 537 samples from the 2025 program returned consistent mineralization, supporting strong continuity. Key intercepts include:\n
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    • WOLRC25-003:<\/strong> 48.8 m @ 0.77% TREO from 1.5 m, including 18.3 m @ 1.06% TREO<\/li>\n
    • WOLRC25-006:<\/strong> 38.1 m @ 0.71% TREO from surface, including 4.6 m @ 1.53% TREO<\/li>\n
    • WOLRC25-002:<\/strong> 51.8 m @ 0.52% TREO from surface, including 33.5 m @ 0.67% TREO<\/li>\n <\/ul>\n <\/li>\n
    • Peak assays reached 2.03% TREO<\/strong>, with an average HREO contribution of 28%<\/strong>, highlighting strong heavy rare earth enrichment.<\/li>\n
    • Mineralization remains open and under-explored, with >1% TREO enriched zones<\/strong> identified.<\/li>\n
    • Large-scale potential supported by 26 km\u00b2 of exposed mineralized tuff<\/strong> at surface, 25\u201350 m thickness, and less than 10% of the prospective unit drilled to date.<\/li>\n
    • Wolverine sits in a peralkaline intrusive complex within the same geological province as globally significant REE deposits including Tanbreez<\/strong> and Strange Lake<\/strong>.<\/li>\n
    • District scale potential, HREE enrichment, near-surface mineralization, and Tier-1 jurisdiction<\/strong> position Wolverine as a potentially significant strategic REE asset.<\/li>\n <\/ul>\n<\/div>\n \n
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      \n “The agreement to acquire the Wolverine REE Project is a major milestone for Saga Metals and completes our diversified portfolio of critical minerals projects, strategically positioned to support North American supply security and national defence priorities. With titanium, uranium, vanadium, lithium, and now a high-potential heavy rare earth asset all 100% owned in Tier-1 jurisdictions, SAGA is well placed to deliver the strategic metals essential for the clean-energy transition and defence applications. Wolverine’s scale, HREE enrichment, and clear path to resource delineation position it as a well-timed addition with significant potential to enhance shareholder value.”\n <\/p>\n

      \u2014 Mike Stier, CEO and Director, SAGA Metals Corp.<\/p>\n <\/div>\n\n \n

      \n \"Wolverine\n

      Figure 1:<\/strong> Wolverine REE Project Location<\/p>\n <\/div>\n\n \n

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      Wolverine REE Project Overview<\/h2>\n

      \n The Wolverine REE Project comprises five contiguous mineral licenses totalling approximately 230.5 km\u00b2<\/strong>, situated approximately 50 km west of Hopedale and 12 km inland from the Labrador coast. The project is accessible by fixed-wing aircraft to the Hopedale gravel airstrip, followed by helicopter to site. Infrastructure advantages include commercial air services, ferry services, and road access near the towns of Natuashish and Hopedale, with communities that have established agreements with the nearby Vale Voisey’s Bay mine. The project is only 12 km from tidewater<\/strong>, offering logistical support to potential year-round access.\n <\/p>\n

      \n The Wolverine REE Project is hosted within the Flowers River Igneous Suite<\/strong>, the largest peralkaline intrusive-volcanic complex in Labrador, and forms part of the Labrador\u2013Greenland alkaline\/peralkaline REE province. The project is underlain by a nested system of partially eroded Proterozoic calderas approximately 1.3 billion years old<\/strong> with a composite diameter of approximately 14 km. REE-Nb mineralization is stratabound within the Nuiklavik volcanic sequence, specifically the crystal-poor aphyric ash-flow tuffs. The principal REE-bearing minerals are Ce-bastn\u00e4site, allanite, and monazite, with yttrium-bearing accessory phases contributing a significant HREO component. Accessory niobium and zirconium enrichment is also present.\n <\/p>\n <\/div>\n\n \n

      \n \"Local\n

      Figure 2:<\/strong> Local geologic map of the Nuiklavik Caldera Complex.<\/p>\n <\/div>\n\n \n

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      Drilling Highlights<\/h2>\n\n
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      2023 \/ 2024 Backpack Drilling<\/h3>\n

      32 core samples from less than 6 m depth confirmed the presence of high-grade REE mineralization:<\/p>\n