Vancouver, British Columbia--(Newsfile Corp. - July 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-0055, -0056, and -0057 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. The Trapper Zone forms part of an oxide corridor that includes the Falcon and Hawkeye Zones collectively covering 29 square kilometres (Figure 1).

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/12336/306862_saga-figure1.jpg

Trapper Zone Assay Highlights

• Analytical results received for three (3) additional diamond drill holes (R-0055 to R-0057) from the MRE drill program initiated in Q4 2025, delivering consistent broad intercepts of oxide mineralization.
• Key intercepts include:
  • Hole R-0055: 97.6 m @ 43.54% Fe2O3, 6.62% TiO2, 0.277% V2O5
    • Including 66.1 m @ 47.65% Fe2O3, 7.36% TiO2, 0.317% V2O5
  • Hole R-0056: 87.3 m @ 33.39% Fe2O3, 4.65% TiO2, 0.207% V2O5
    • Including 33.0 m @ 43.67% Fe2O3, 6.14% TiO2, 0.318% V2O5
  • Hole R-0057: 101.7 m @ 38.65% Fe2O3, 5.60% TiO2, 0.249% V2O5
    • Including 20.6 m @ 47.72% Fe2O3, 6.98% TiO2, 0.351% V2O5
    • Including 19.6 m @ 53.72% Fe2O3, 8.24% TiO2, 0.377% V2O5
• These results now bring the total MRE drill results to fifty (50) diamond drill holes received to date. As reported previously, analytical results from the first forty-seven (47) diamond drill holes of the MRE drill program include:

Table 1: MRE drill program assay intercepts previously reported in Q4 2025 and 2026 to date from drill holes R-0008 to R-0054.

• Top 15 intercepts from the MRE Drill Program to date can be found in Table 4 below.
• Completed seventy-one (71) holes (R-0008 to R-0078) from Q4 2025 to date in 2026, with significant oxide intercepts including 244.4 m from R-0061 (true thickness of 204.7) of semi-massive oxide with extensive rhythmic oxide layering.
• Actively drilling holes R-0079 and R-0080.
• MRE drilling to date has returned multiple holes of thick oxide core intercepts exceeding 70-150 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, comparable to the high-grade results from Trapper North.
• Drilling is progressing efficiently, with 18,641 m completed in the Trapper Zone to date.
• Excellent core recovery remains above 95% 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:

"The latest assays from holes R-0055 through R-0057 continue to deliver exactly what we want to see as we advance toward our maiden Mineral Resource Estimate — broad, consistent zones of oxide mineralization with strong titanium, vanadium and iron grades. Intercepts such as 97.6 metres of 43.54% Fe₂O₃, 6.62% TiO2, 0.277% V2O5 in R-0055 and the high-grade 19.6-metre interval of 53.72% Fe₂O₃, 8.24% TiO₂ and 0.377% V₂O₅ in R-0057 underscore both the continuity and the quality of the Trapper Zone.

"With 50 holes now assayed, 71 holes completed, more than 18,600 metres drilled, and excellent core recovery throughout, the dataset is updated daily and rapidly solidifying. We are currently drilling holes R-0079 and R-0080 and expect to wrap up the maiden MRE drill program within the next couple of weeks. These results further reinforce the growing scale and potential of the Radar Project as a significant critical minerals asset in Labrador."

The latest results from these drill holes, R-0056, R-0056, and R-0057, 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-0055 to R-0057

• Hole R-0055 (Cross-Section S13, Figure 2): R-0055 undercuts drill hole R-0054 on pad AL-1 with an azimuth of 38° dipping -60° with a total depth of 320 m. The hole intercepts the oxide zone at 70.1 m. The oxide zone is 140.8 m and consists of 67.6 m of semi-massive oxide and 73.2 m of rhythmic layering.
• Hole R-0056 (Cross-Section T01, Figure 3): R-0056 is drilled on pad BD-1 with an azimuth of 38° dipping -45° with a total depth of 239 m. The hole intercepts the oxide zone at 84.8 m. The oxide zone is 93.9 m and consists of 24.4 m of semi-massive oxide and 69.6 m of rhythmic layering.
• Hole R-0057 (Cross-Section T01, Figure 3): R-0057 undercuts drill hole R-0056 on pad BD-1 with an azimuth of 38° dipping -60° with a total depth of 233 m. The hole intercepts the oxide zone at 92.4 m. The oxide zone is 96.1 m and consists of 43.6 m of semi-massive oxide and 52.5 m of rhythmic layering.

Figure 2: Cross section of S13 looking NW showing R-0054, -0055 and -0069, 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-0054 and R-0055. Assays pending for R-0069.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/306862_saga-figure2.jpg

Figure 3: Cross section of T01 looking NW showing R-0056 and R-0057, 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-0056 and R-0057.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/306862_saga-figure3.jpg

Trapper Zone Drilling Summary

Table 2: Summary of drill holes R-0016 to R-0080, highlighting the oxide intercepts. See Figures 2 & 3 above, which depict the oxide mineralization in cross sections S13 & T01. 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 4: Trapper Zone plan view map outlining location of the MRE drill program completed to date, including cross-sections 0S4-S13 in Trapper South, T01-T03 in Trapper Transition, and N6-N12 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/12336/306862_336073534463399f_004full.jpg

Sampling Summary

Saga's core cutting team finalized the cutting, sampling, and shipping of 612 samples from R-0058, -0059, and -0060. IGS Laboratories received the samples last week and began the analytical process. IGS anticipates releasing the assay results within the next week to the Company. A total of 10,340 samples have been collected in the Trapper Zone to date.

Key Project Highlights

• Confirmed mineralization in 78 out of 78 drill holes completed and observed in two primary zones to date.
• Analytical results to date include numerous oxide-rich intercepts, including:

Table 4: Top 15 intervals 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 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 18,641 m has been completed and reported to date for the MRE drill program. See Figure 4 above, showcasing MRE drill hole locations in the Trapper Zone reported to date.

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 5: 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/12336/306862_saga-figure5.jpg

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.

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 100% owned 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 20,850 m of drilling in the Hawkeye and Trapper zones, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.

The 100% owned Wolverine Heavy Rare Earth Element Project in Labrador, is 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 100% owned 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 geological attributes similar to nearby terrains currently being explored 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.

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/306862

Source: Saga Metals Corp.