Mr. Harry Barr reports

NEW AGE METALS INC. PROVIDES SHAREHOLDER UPDATE REGARDING UPCOMING ANNUAL GENERAL MEETING AND A SUMMARY OF COMPANY'S PROJECTS AND GO FORWARD PLAN

New Age Metals Inc. has provided an update to shareholders regarding its coming annual general meeting to be held at its field office at 59 Burtch's Ln., Rockport, Ont., on Wednesday, Nov. 12, 2025, 2 p.m. Eastern Time. It was recently announced that postal service will resume operations this coming week when Canada Post workers will be pivoting from a nationwide strike to a rotating strike. Due to the rotating strike and the uncertainty and instability ahead, the company's notice of meeting, information circular and related proxy materials may not be delivered to shareholders prior to the meeting in accordance with regulatory requirements. The company's meeting is scheduled to be for the following purposes:

1. To receive the financial statements of the company for the fiscal year ended April 30, 2025, together with the auditor's report thereon;
2. To set the number of directors at five;
3. To elect directors for the ensuing year;
4. To reappoint Shim Associates LLP, chartered accountants, of Vancouver, B.C., as the company's auditor for the ensuing year and to authorize the directors to fix its remuneration;
5. To transact any other business that may properly come before the meeting.

Electronic copies of the meeting materials will be filed and made accessible under the company's SEDAR+ profile and will be posted on the company's website on Oct. 16, 2025. Shareholders are encouraged to access the meeting materials by SEDAR+ and the company's website.

Shareholders are not required to be present at the meeting and can vote their shares in advance of the meeting. All proxies must be received by Computershare Investor Services Inc. by the proxy cut-off time on Friday, Nov. 7, 2025, by 2 p.m. Eastern Time.

If you are a registered shareholder and have not received your package of meeting materials, please contact Computershare Shareholder Services at 1-800-564-6253 to obtain your proxy form control number to be able to cast your vote on-line or vote by telephone by following the instructions on the form of proxy.

If you hold shares through an intermediary, such as a brokerage firm, please contact your broker representative directly for a copy of the proxy form and voting instructions.

Meeting materials will be delivered electronically to those who have consented to electronic delivery. Shareholders who have not consented to electronic delivery may obtain copies as noted above or by contacting the company's office at 1-800-667-1870 or 1-613-659-2773 or by e-mail info@newagemetals.com for copies of the meeting materials by e-mail at no charge.

The company encourages shareholders and interested parties to read the section below as it summarizes the company's projects, current activities and go-forward plan.

About New Age Metals Inc.

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of critical green and precious metal projects in North America. The company has four divisions (a platinum group element division, a gold division, a lithium/rare element division and an antimony-gold division) as well as an investment in Metalquest Mining Inc.'s high-purity Lac Otelnuk iron ore project.

On Sept. 25, 2025, the company announced a $3.5-million financing with a lead order from Eric Sprott for $2-million. Due to heightened investor demand, the company increased the financing to $4-million on Sept. 26. On Oct. 10, the company closed the second tranche of the financing, with Mr. Sprott subscribing to $2-million. On Oct. 10, Mr. Sprott owned 37.4 per cent of the company on a partially diluted basis and is the largest shareholder. The company is well financed with no debt.

The PGE division includes the 100-per-cent-owned, multimillion-ounce, district-scale River Valley project, one of North America's largest undeveloped platinum group element projects, situated 100 kilometres by road east of Sudbury, Ont. In addition to River Valley, New Age Metals owns 100 per cent of the Genesis PGE/copper/nickel project in Alaska.

On Oct. 1, 2025, the company announced that it has entered into agreement to option the Bonanza gold project, located in the Kenora gold district. The project consists of 114 mining claims and one patented mining claim totalling 2,191 hectares, or 5,414 acres. The project has multiple high-grade mineral occurrences with spectacular visible gold at surface, along with excellent infrastructure, including road access to all areas of the project, along with provincial grid power lines. The Kenora gold district is known for its high-grade Archean lode gold deposits; the district has supported mineral exploration and some mining for more than a century. Some of the active majors and mid-tier companies in the district are Agnico Eagle, Kinross, Centerra and New Gold. New Age Metals' technical team is currently back in the field working on the second phase of the company's fall program.

Management, with New Age Metals' technical team, is also preparing the Bonanza gold project's go-forward plan, exploration plan and budgets for the balance of 2025 and for the 2026 year. Further announcements on the Bonanza gold project will be forthcoming. The second part of this corporate video is expected to be released midday on Oct. 15, 2025.

The company's lithium division is one of the largest mineral claim holders in the Winnipeg River pegmatite field, where the company is exploring hard-rock lithium and various rare elements such as tantalum, rubidium and cesium. New Age Metals is developing its lithium division in conjunction with its farm-in/joint venture agreement with Mineral Resources Ltd. (MinRes), one of the world's largest lithium producers. A minimum budget to maintain the projects has been approved by Mineral Resources for May, 2025, to April, 2026. The companies agreed to the minimum budget due to current lithium pricing and forest fire dangers in the immediate area.

In April, 2024, a $1.5-million NSERC (Natural Sciences and Engineering Research Council of Canada) Alliance grant was awarded to a collaboration led by the University of Manitoba (Dr. Fayek and Dr. Camacho) with academic partners from Lakehead University (Dr. Hollings) and industry partners including New Age Metals and Grid Metals. This research is focused on advancing Canada's critical metals sector, with New Age Metals' portion targeting its Bird River lithium properties. Approximately $107,000 of work is planned on New Age's properties in 2025. The early work will include core sampling and field visits starting this summer. The project will likely extend beyond the original three-year term, due to its delayed start.

New Age Metals is supporting a successful $180,000 Mitacs research grant, awarded in 2023, through its $90,000 contribution (already accounted for and paid under the Mineral Resources joint venture). This academic partnership with the University of New Brunswick and the University of British Columbia is focused on understanding the origin and controls of lithium pegmatite mineralization in the Cat Lake-Winnipeg River field. Fieldwork for the MSc thesis has been completed while the postdoctoral phase is continuing at UNB. This collaboration provides access to top-tier scientific expertise and equipment, significantly reducing analysis costs and adding long-term value to the project.

On Sept. 9, 2025, the company announced the completion of the summer 2025 exploration program on the 100-per-cent-owned Alaskan platinum group metal/copper/nickel Genesis project. The project is road accessible and situated within three kilometres the all-season Richardson Highway and a high-capacity power line. Known mineralization covers a distance of nine kilometres across the prospect. The target areas have never been drilled. A technical report is available. The company is actively seeking an option/joint venture partner for its road-accessible Genesis PGM/copper/nickel project in Alaska.

The Alaskan Genesis project has ample surface showings of copper, nickel, platinum and palladium and has never been drilled. It is road accessible and less than 45 minutes, using an access trail, from one of Alaska's most famous lodges, the Tonsina Lodge.

New Age Metals' antimony-gold division is in Newfoundland and spans over 19,800 hectares consisting of 11 non-contiguous properties.

Six of these properties are in St. Alban's area, along Canstar's Swanger and Little River mineralized trends. The remaining five properties are strategically located along the same geological trend as the past-producing Beaver Brook antimony mine and in proximity to New Found Gold's Queensway South gold project. Management has recently completed phase 1 of the project, phase 2 has been initiated, and further news will follow. On July 30, the company was pleased to announce that it has received formal approval under Newfoundland and Labrador's junior exploration assistance (JEA) program, including eligibility for the critical minerals assistance (CMA) and provincial critical mineral assistance (PCMA) streams. The potential rebate total for eligible exploration activities is $71,975.

On Aug. 6, 2025, New Age Metals announced an additional investment in a fourth critical metal. New Age Metals currently owns approximately 12.79 per cent of Metalquest Mining and holds warrants that, if exercised with today's issued and outstanding shares of Metalquest Mining, would bring New Age Metals to a 19.05-per-cent interest in Metalquest Mining.

Metalquest Mining is developing one of North America's largest iron ore projects, where approximately $120-million has been spent on the project. High-purity iron ore became a critical metal federally in Canada and in the provinces of Quebec and Newfoundland and Labrador in 2024. In the summer of 2025, Metalquest Mining has contracted Atkinsrealis, an international engineering company, to complete a gap analysis on the Lac Otelnuk project and its 2015 feasibility study. The study is expected to be released before the end of October.

Management is currently aggressively seeking new mineral acquisition opportunities on an international scale. New Age Metals' philosophy is to be a project generator with the objective of optioning its projects with major and junior mining companies through to production.

The company is actively seeking an option/joint venture partner for its road-accessible Genesis PGE/copper/nickel project in Alaska.

We seek Safe Harbor.