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VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“SAGA” or the “Company”) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, announces today that it is electing to accelerate the expiry of outstanding common share purchase warrants of the Company issued in connection with a financing that closed in two tranches on May 23 and July 31, 2025 (the “MayFinancing”) and a financing that closed on October 10, 2025 (the “OctoberFinancing”; together with the May Financing, the “Financings”).

The Company issued an aggregate of 6,637,667 warrants and 163,146 finder’s warrants (together, the “MayWarrants”) in connection with the May Financing. The Company also issued an aggregate of 555,750 finder’s warrants (the “OctoberWarrants”; together with the May Warrants, the “Warrants”) in connection with the October Financing.

Mike Stier, CEO & Director of Saga Metals commented:“We are thrilled to accelerate the expiry of these warrants, which calls in approximately $3.6 million in additional funding from warrant exercises. This influx builds directly on the successful $9 million raised in Q4 2025, and over $675,000 brought in from warrant exercises since the start of the year, further bolstering our treasury and positioning the Company in the strongest financial position in its history. With a robust cash runway secured and major catalysts on the horizon throughout 2026—including key exploration results, project advancements, and potential partnerships—we are well-equipped to execute our strategy and deliver significant value to shareholders.”

Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants if the closing price of the Company’s common shares on the TSX Venture Exchange (the "TSXV") equals or exceeds C$0.75 for 10 consecutive trading days (the “AccelerationPeriod”), to the date that is 30 days following the dissemination of a news release announcing the acceleration. As the closing price of the Company's common shares has equaled or exceeded C$0.75 per share over each of the last 10 trading days ended January 22, 2026 on the TSXV, the Company hereby provides notice of the Acceleration Period in accordance with the terms of the Warrants. The Company is exercising its right to accelerate the expiry of the Warrants issued under the Financings to 4:00 p.m. (Vancouver time) on February 21, 2026 (the "AcceleratedExpiryDate"). Any Warrants remaining unexercised after the Accelerated Expiry Date will expire and be of no force and effect.

The securities offered pursuant to the Financings have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Radar Critical Mineral Property in Labrador, Canada

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~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.

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.

Figure 1: Radar Project’s prospective oxide layering zone validated over ~16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Key Project Highlights:

• Confirmed mineralization in 15 out of 15 drill holes completed in two primary zones to-date.
• Analytical results to-date include numerous oxide-rich intercepts, including:
  • R-0010: 135.50 m grading 50.03% Fe₂O₃, 7.87% TiO₂, and 0.352% V₂O₅.
  • R-0011: 95.15 m grading 39.49% Fe₂O₃, 6.49% TiO₂, and 0.220% V₂O₅.
  • R-0009: 87.20 m grading 50.67% Fe₂O₃, 10.15% TiO₂, 0.339% V₂O₅
  • R-0008: 67.60 m grading 46.15% Fe₂O₃, 9.21% TiO₂, 0.311% V₂O₅
  • R-0007: 57.70 m grading 27.09% Fe₂O₃, 5.31% TiO₂, 0.365% V₂O₅
• 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.
• Exceptional grades and thicknesses with semi-massive to massive oxide reporting up to 64.55% Fe,13.3% TiO₂, and 0.66% V₂O₅.
• Petrographic analysis confirms titanomagnetite mineralization advantageous for simplified metallurgical processing.
  
  

Next Steps at the Radar Critical Mineral Project

The initial focus for the 2026 Radar Project drill program will be in the southern section of the Trapper Zone, also known as “Trapper South.” SAGA’s geological team and Gladiator’s drill crews will take advantage of the extensive trail network created in the summer of 2025, allowing for an easy traverse for snowmobiles and the excavator used to move the drill. Drilling will begin at the southeastern extent of Trapper South, targeting approximately 30 holes (7,500 m). The program will then advance hole by hole back toward Trapper North, positioning the team to complete the remainder of the MRE drill campaign by spring.

Figure 2: Trapper Zone map outlining location of the initial 2026 focus for remainder of the MRE drill program to be completed in 2026 showing the TMI of the 2025 Trapper Zone ground magnetic survey Drilling will commence in Trapper Zone and move to Trapper North.

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.

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 4,250 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 Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. Uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, 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 critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
SAGA Metals Corp.
Tel: +1 (844) 724-2638
Email: 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

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 rights or intentions with respect to the acceleration of outstanding Warrants as well as 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. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 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.

Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/68cd6164-e161-4d7f-8c31-072fbb9a94f8
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea34080a-ce8e-4a54-8c92-18840620ad92 

Figure 1

Radar Project’s prospective oxide layering zone validated over ~16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Figure 2

Trapper Zone map outlining location of the initial 2026 focus for remainder of the MRE drill program to be completed in 2026 showing the TMI of the 2025 Trapper Zone ground magnetic survey Drilling will commence in Trapper Zone and move to Trapper North.

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