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SAGA Metals Announces Follow on Equity Analyst Coverage by Alphabridge Group with Outperform Rating

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Saga Metals Corp. (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) (“SAGA” or the “Company”), a North American exploration company focused on critical mineral discovery, is pleased to announce that it has received follow on equity analyst coverage by Alphabridge Group Inc. (“Alphabridge”), a leading independent corporate finance advisory and research firm specializing in small and mid-cap companies with an outperform rating.

Alphabridge, based in Vancouver, Canada, is a corporate finance advisory firm that partners with growth companies to deliver strategic financial leadership across mergers & acquisitions (M&A), capital raising, valuation, and CFO services. In addition to its advisory practice, Alphabridge operates a dedicated equity research arm that focuses on providing independent coverage for companies operating at pivotal stages of development with significant growth potential. Alphabridge’s research is distributed through major institutional platforms, including S&P Capital IQ, FactSet, AlphaSense, and Thomson Eikon, as well as its newsletter with over 2,000 subscribers. Their coverage of Saga Metals is expected to highlight the Company’s strategic focus on its flagship Radar Ti-V-Fe Project in Labrador, Canada, and its emerging portfolio of critical mineral assets.

Their follow on report on Saga Metals, dated July 27, 2026, titled “Saga Metals Corp. (TSXV: SAGA,OTC:SAGMF) – Radar Drilling Accelerates, Wolverine REE Acquisition Closes”, highlights the significant advancement of the Radar project towards its Maiden Mineral Resource Estimate and the forthcoming diamond drill program on the Wolverine Heavy REE project.

The follow on research report is available to view or to download from the firm’s website: https://alphabridge.co/download-saga-metals-equity-research-report-july-2026/ or upon written sent to Alphabridge.

Their initiation report on Saga Metals, dated September 8, 2025, titled Saga Metals Corp. (TSXV: SAGA,OTC:SAGMF) – Initiating Coverage – Well-Positioned for the Critical Minerals Supercycle,” underscores the Company’s potential to deliver value through its titanium-vanadium project.

The initiation research report is still available to view or to download from the firm’s websites: https://alphabridge.co/download-saga-metals-equity-research-report/ or upon written request sent to Alphabridge.

Alphabridge Group Inc.
Analyst: Vasant Jain, CFA
Email: vasant@alphabridge.co
Website: www.alphabridge.co

In addition, the research report will be disseminated through various third-party websites and major institutional platforms as outlined above.

Investors are encouraged to review the reports for detailed insights into Saga Metals‘ projects and growth strategy. Alphabridge’s Follow on and Initiation Research Reports include a third-party independent review of Saga Metals, an Enterprise Valuation Analysis and a Share Price Target completed by Alphabridge’s analyst, Vasant Jain, CFA.

The opinions expressed in the Research Reports referenced above are the true opinions of the analyst about Saga Metals and its industry. Any “forward-looking statements” are Alphabridge’s best estimates and opinions based upon information that is publicly available and that analysts believe to be correct but have not independently verified with respect to truth or correctness. There is no guarantee that the analyst’s forecasts will materialize. Actual results will likely vary. The analyst and Alphabridge do not own any shares of Saga Metals, do not make a market or offer shares for sale of Saga Metals, and do not have any investment banking business with Saga Metals. Although the Company has paid a fee to Alphabridge to subsidize the high costs of research and monitoring (just as fees are paid to bond-rating agencies and auditors for their opinions), the Company is not responsible for the content, accuracy or timelines contained in an analyst’s report, and the fee was not dependent on the opinion provided. In addition, readers should be aware, and are cautioned, that opinions, estimates, or forecasts contained in research analyst reports are not subject to the requirements of Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”) and have not received any endorsement or approval by Saga Metals. As such, Saga Metals does not imply or in any way represent that any of the reports, opinions, estimates, or forecasts regarding Saga Metals made by research analysts comply with NI 43-101 or represent the opinions or beliefs of Saga Metals or its management or representatives. In addition to information filed by Saga Metals as found on SEDAR+ (www.sedarplus.ca), readers should only refer to the technical report(s) of Saga Metals relating to its projects for information about the projects prepared in accordance with NI 43-101. Alphabridge takes steps to ensure independence, including setting fees in advance and utilizing analysts who must abide by the CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, Alphabridge analysts may not trade in any security under coverage. Alphabridge’s full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, Saga Metals has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.

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.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/12336/308761_saga-figure1_550.jpg

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 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/12336/308761_saga-figure1.jpg

Key Project Highlights

  • Completed seventy-one (71) holes (R-0008 to R-0078) from Q4 2025 to date in 2026, with significant oxide intercepts including in R0061 of 396.6 m (true thickness of 340.0) of semi-massive oxide with extensive rhythmic oxide layering.
  • Confirmed mineralization in 78 out of 78 drill holes completed and observed in two primary zones to date.
  • Top 15 intercepts from the MRE Drill Program to date can be found in Table 1 below.
  • 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.
  • Excellent core recovery remains above 95% and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate.
  • Bench scale testing with Temas’ proprietary RCL technology confirmed recoveries up to 90.8% titanium, 97.4% vanadium and 91.5% iron.
  • A total of 18,641 m has been completed and reported to date for the MRE drill program.
  • 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-0051 137.1 169.0 31.9 20.8 53.07 7.68 0.384
R-0017 73.0 140.6 67.6 54.9 55.13 7.37 0.448
R-0055 70.1 136.2 66.1 38.6 47.65 7.36 0.317
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-0050 116.0 169.0 53.0 42.9 49.61 7.24 0.401
R-0052 87.0 153.0 66.0 54.6 49.63 7.24 0.335
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

 

Table 1: Top 15 intervals from the 2025 & 2026 drilling programs at the Trapper Zone.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/12336/308761_cb07bd9c34dbf812_002.jpg

Figure 2: 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/12336/308761_cb07bd9c34dbf812_002full.jpg

Wolverine REE Project Overview:

The Wolverine REE Project now comprises nine (9) contiguous mineral licenses totalling approximately 294.5 km², 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 in 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, offering logistical support to potential year-round access.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/12336/308761_saga-figure3_550.jpg

Figure 3: Regional map highlighting the location of the Wolverine Heavy REE Project near tidewater and relative to major projects in Labrador including the Strange Lake REE project in Quebec. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/308761_saga-figure3.jpg

Wolverine REE Project Highlights:

  • The Wolverine REE project lies within the peralkaline Flower Lake Igneous Suite, an intrusive-volcanic complex that is part of the 1.28- to 1.13-billion-year-old Gardar rifting province, the latter hosts globally significant REE deposits: Tanbreez within the Ilímaussaq alkaline intrusive complex and Strange Lake within a peralkaline granite.
  • The project which includes a contiguous 29,450 hectares has district-scale potential, HREE enrichment, near-surface mineralization, and Tier-1 jurisdiction positions it as a potentially significant strategic REE asset.
  • 2025 reverse circulation (“RC”) drilling confirmed broad, near-surface REE mineralization across a 1.7 km × 1.2 km area hosted within a significant peralkaline caldera system.
  • 537 samples from the 2025 program returned consistent mineralization, supporting strong continuity across the drilled footprint. Key intercepts include:
    • WOLRC25-003: 48.8 m @ 0.77% total rare earth oxides (“TREO*”) from 1.5 m, including 18.3 m @ 1.06% TREO
    • WOLRC25-006: 38.1 m @ 0.71% TREO from surface, including 4.6 m @ 1.53% TREO
    • WOLRC25-002: 51.8 m @ 0.52% TREO from surface, including 33.5 m @ 0.67% TREO
  • Peak drill program assays reached 2.03% TREO (WOLRC-006-25 – Sample 2355079 from 1.5-3 m), with an average heavy rare earth oxides (“HREO“) contribution of approximately 24-28%, highlighting strong heavy rare earth enrichment.
  • Large-scale potential is supported by 26 km² of exposed mineralized tuff at surface, with depths of only 25-50 m, and less than 10% of the prospective unit drilled to date.
  • Mineralization remains open and under-explored, with >1% TREO enriched zones identified
  • In the southwestern area of the Project, seven (7) REE-bearing peralkaline pegmatites have been identified (Figure 3).
    • Thirty-nine (39) grab sample returned assays up to 21.6% TREO.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/12336/308761_cb07bd9c34dbf812_004.jpg

Figure 4: Local geologic map highlighting SAGA’s claims completely encircling the entire Nuiklavik Caldera Complex.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12336/308761_cb07bd9c34dbf812_004full.jpg

Wolverine Diamond Drill Program Details

Crews are currently transporting supplies and establishing the full suite of camp infrastructure required to support safe and efficient operations. The program will have four components that will be fully integrated: 1) detailed mapping of the previous identified mineralized zone to define the volcanic stratigraphy and alteration associated with heavy rare earth mineralization, 2) diamond drill along and down dip throughout the mineralized zone and 3) evaluation of other high priority prospects and 4) determination of mineralized rock properties, geochemistry and metallurgical testing to advance the project toward a maiden NI 43-101 mineral resource estimate.

Qualified Person

Dr. A. Miller, P. Geo., PEGNL, 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 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 consistently uniform grades of titanium, vanadium and iron.

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.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

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.

Technical Disclosure

A survey of the previous exploration drill holes was completed using a Differential Global Positioning System (“DGPS”) using a Emlid Reach RS2+. The RS2+ is a global navigation satellite system (“GNSS”) receiver that offers high-precision positioning. GNSS is a term that refers to the International Multi-Constellation Satellite System, which includes GPS, GLONASS, Baidu, Galileo, and any other constellation system. GPS traditionally refers to the American global positioning system. Differential correction techniques are used to enhance the quality of location data gathered using GNSS or GPS receivers. This data is beneficial to accurately and precisely locate drill collars, to verify historic work, as well as increase confidence in mineral resource estimates.

The GT RC drill was powered by two air compressors. Drill holes could be drilled up to an angle of -60o and 60m depth dependent on ground conditions, where the 2025 holes were drilled at a dip of -80o. Cased hole diameter is 4½” and open hole diameter is 3 ¾”. Drill was operated by a two-person crew on a 1 x 12h shift per day schedule.

Compass Group geologists, Michael Ives-Ruyter and Alex Ovas, were onsite for marking drill sites and logging drill chips. Samples were prepared onsite with a splitter and bagged. Archive material was collected in chip trays, as well as in small kraft bags. Large archive samples were collected in 1-2kg bags and stored in Happy Valley-Goose Bay, Labrador. Samples for analysis were shipped to Activation Laboratories Ltd (“ActLabs”) in Ancaster, Ontario. Check chip logging was completed by Clinton Davis in Ottawa, Ontario.

In total, 536 chip samples, 13 Standards (STD CDN-RE-1203), and 35 Blanks were collected. The standard used for QA/QC was CDN-RE-1203 certified by CDN Resource Laboratories Ltd and prepared using ore supplied by Canadian International Minerals from the Carbo property of the Copley Range in central BC. Blanks were inserted at the end of every hole as well as every 50 samples in sequence offset from Standards. Standards were inserted every 50 samples as well as additional randomized to have at least one standard on every second hole.

Hole ID Easting Northing Elev Date Az Dip Depth (m)
WOLRC-25-001 621523 6157020 576 Jul 10-11 220 80 36.6
WOLRC-25-002 621425 6157004 567 11-Jul 40 65 51.8
WOLRC-25-003 621468 6157108 561 Jul 13-14 220 65 50.3
WOLRC-25-004 621266 6157301 565 Jul 14-15 220 80 6.1
WOLRC-25-005 621267 6157302 565 Jul 15-16 220 80 33.5
WOLRC-25-006 621347 6157342 559 Jul 17-19 220 80 38.1
WOLRC-25-007 621450 6157370 570 20-Jul 220 80 44.2
WOLRC-25-008 621218 6157601 586 21-Jul 220 80 36.6
WOLRC-25-009 621396 6158050 538 22-Jul 220 80 22.9
WOLRC-25-010 621167 6158302 577 23-Jul 220 80 22.9
WOLRC-25-011 620994 6158046 575 24-Jul 220 80 16.8
WOLRC-25-012 620644 6158051 564 25-Jul 220 80 30.5
WOLRC-25-013 620812 6157804 566 26-Jul 220 80 3.1
WOLRC-25-014 620812 6157805 567 26-Jul 220 80 22.9
WOLRC-25-015 621017 6157799 585 27-Jul 220 80 39.6
WOLRC-25-016 621068 6157505 598 28-Jul 220 80 27.4
WOLRC-25-017 620974 6157394 597 29-Jul 220 80 39.6
WOLRC-25-018 621107 6157017 535 30-Jul 218 80 30.5
WOLRC-25-019 621294 6156655 495 1-Aug 220 80 27.4
WOLRC-25-020 621696 6156652 514 Aug 1-2 220 80 24.4
WOLRC-25-021 621861 6156989 543 Aug 2-4 220 80 42.7
WOLRC-25-022 621743 6157341 540 Aug 4-6 220 80 10.7
WOLRC-25-023 621742 6157340 540 Aug 4-7 226 80 49.1
WOLRC-25-024 621617 6157683 551 6-Aug 220 80 51.8
WOLRC-25-025 622041 6157815 537 7-Aug 218 80 57.9

 

Table 2: 2025 RC Drilling Summary

Hole UTM E UTM N Az Dip Total (m) Date from Date to
VWS23-001 6E+05 6E+06 126 85 1.85 19-Sep-23 19-Sep-23
VWS23-002 6E+05 6E+06 198 85 5 21-Sep-23 21-Sep-23
VWS23-003 6E+05 6E+06 285 85 5.3 22-Sep-23 23-Sep-23
VWS23-004 6E+05 6E+06 240 85 4.65 24-Sep-23 24-Sep-23
VWS23-005 6E+05 6E+06 92 52 3.7 25-Sep-23 25-Sep-23
VWS23-006 6E+05 6E+06 160 85 3.25 27-Sep-23 27-Sep-23
VWS23-007 6E+05 6E+06 180 65 0.6 28-Sep-23 28-Sep-23
VWS23-008 6E+05 6E+06 172 85 1.1 28-Sep-23 28-Sep-23

 

Table 3: 2023 Shilti Backpack Drill Summary

*= all concentrations are reported in ppm **TREO = La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy23 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3

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 news release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Alphabridge initiation and follow on reports and the Company’s plans and expectations regarding the Radar Titanium-Vanadium Iron Project and Wolverine REE Project, including the 2026 work program with respect to same and the potential publication of a mineral resource estimate. 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 Radar and Wolverine Projects, and the risks detailed in the Company’s continuous disclosure filings with securities regulators 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.

Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability to successfully develop projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons. There is no assurance that the Company will be successful in achieving positive exploration outcomes on the Wolverine REE Project, and the likelihood of success must be considered in light of the early stage of operations, as the Company has currently conducted none of its own exploration of the project. Similarly, references herein to projects which share or may share similar characteristics with the Wolverine REE Project are based on Saga’s review of publicly available information in respect thereof, and are at significantly more mature stages of development, and are accordingly subject to unknown uncertainties regarding actual equivalence.

The Company’s ability to identify valuable resources in sufficient quantity and quality to justify continued exploration, development activities and/or its ability to commence and complete development work and/or commence and/or sustain commercial production operations will depend upon numerous factors, many of which are beyond its control, including exploration success, the obtaining of funding for all phases of exploration, development and commercial mining, the adequacy of infrastructure, geological characteristics, metallurgical characteristics of any deposit, the availability of processing technology and capacity, the availability of storage capacity, the supply of and demand for REEs and other minerals, the availability of equipment and facilities necessary to commence and complete development, the cost of consumables and mining and processing equipment, technological and engineering problems, accidents or acts of sabotage or terrorism, civil unrest and protests, currency fluctuations, changes in regulations, the availability of water, the availability and productivity of skilled labour, the receipt of necessary consents, permits and licenses (including mining licenses), and political factors, including unexpected changes in governments or governmental policies towards exploration, development and commercial mining activities.

Sample values reported in this news release, by their natures, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned not to place undue reliance on the assay values reported in this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308761





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