Mr. Mike Stier reports

SAGA METALS COMPLETES PHASE 2 OF MAJOR DRILL PROGRAM AT THE RADAR PROJECT IN LABRADOR-CONFIRMS EXTENSIVE OXIDE MINERALIZATION IN ALL DRILL LOCATIONS AT TRAPPER NORTH AND SOUTH ZONES and PROVIDES CORPORATE UPDATE

Saga Metals Corp. has successfully completed diamond drilling in the Trapper South zone comprising 977 metres in four diamond drill holes. The Trapper North and South zone drilling is located on two cross-sections across an extensive ground magnetic anomaly that stretches over three kilometres.

Highlights:

• Phase 1 and 2 have confirmed extensive oxide mineralization in all drill locations validating the entire three-plus-kilometre magnetic anomaly within the Trapper zone.
• Completion of these initial phases of the 2025-2026 mineral resource estimate drill program has further validated about 16 km of the oxide trend that extends from the Hawkeye zone to the Trapper North zone.
• Trapper South: R-0012, R-0013, R-0014 and R-0015 are located on drill section S-9 and intercepted a continuous rhythmic oxide layering across the full width of the magnetic anomaly.
• Trapper North: R-0008, R-0009 and R-0010 on drill section N-11 transected the magnetic anomaly and demonstrated a likely structural repetition of the cumulate oxide layers dominated by semi-massive to massive cumulate oxides, confirming the strong magnetic response.
• The planned 15,000-metre mineral resource estimate drill program is financed by the recent closing of the company's $6-million oversubscribed brokered LIFE (listed issuer financing exemption) offering.

"We are thrilled with the momentum building at Saga Metals as we mark the successful completion of phases 1 and 2 of our mineral resource estimate drill program, where we tested both the North and South targets within the Trapper zone and encountered extensive oxide mineralization at all eight drill locations," stated Michael Garagan, chief geological officer and director of Saga Metals. "This achievement, combined with finalizing the largest capital raise in our company's history, has positioned us to advance through what is undoubtedly the most critical drill program we've ever undertaken. Drilling in Trapper North and South have validated the 2025 ground magnetic survey and provides a template for future definition drilling of the zone. A full three km of strike is now open for follow-up drilling across widths of up to 400 m. These milestones not only validate our strategic vision but also fuel our enthusiasm for unlocking the full potential of our assets and delivering substantial value to our shareholders."

Trapper South summary

All four holes of Cross-section S-9, totalling 977 metres, have now been drilled in Trapper South. Logging is still in progress with respect to drill holes R-0014 and R-0015, with final logs available within the next week. Both holes continued to intercept rhythmic oxide layering, and the team expects to report on the lithological observations and the structure's width in the coming days.

Drill holes R-0012 and R-0013 intersected significant oxide layering. R-0012 clipped the eastern side of the main oxide layering with a cumulative 59.88 m of rhythmic oxide layering and 13.67 m of intercumulus oxides. R-0013 intersected a cumulative 174.87 m of oxide comprising 135.87 m of rhythmic oxide layering and 39 m of intercumulus oxides.

Trapper North summary

Phase 1 of drilling in the Trapper North zone targeted a strong magnetic anomaly delineated in the 2025 ground geophysical survey. The anomaly traces the shape of an apparent fold structure. Drilling fences are oriented to cross the fold structure at right angles, with drilling directions of mostly N 038 degrees E. A total of 1,073 m of drilling have been completed in four diamond drill holes.

Drilling on Section N-11, in diamond drill holes R-0008, R-0009 and R-0010, demonstrated variations in the structural attitude that map an open anticline in the semi-massive to massive oxides. The exceptional thickness of the oxide units on Section N-11 is partly due to the structural repetition of the units. A mylonitic shear zone occupies the axial plane of the fold. Significantly, this drilling tested both the southewstern and northeastern limbs of the fold structure and was dominated by semi-massive to massive cumulate oxides, confirming the strong magnetic response. The first 420 samples include 202 from the complete R-0008 drill hole and 218 from the complete R-0009 drill hole. All samples have been received by the lab, and assay results are expected in the next few weeks.

Drill program objectives

Phase 1 and 2 aimed at garnering early structural, geometrical and mineralogical information in both the North and South Trapper zones in Q4 2025 to set the stage for the remainder of Saga's robust 2026 maiden resource estimate.

The Trapper zone drill campaign will target:

• Grade continuity across a three-kilometre strike length;
• Oxide layering widths and continuity to true depths of about 200 metres;
• Integration of structural insights from trenching and drilling into collar orientation and drill design;
• Interpretation of grades, widths and structures before initiating the detailed grid and drill sections in 2026 for an indicated mineral resource estimate.

Completed to date:

• Testing of both the North and South sections of the Trapper zone with initial drilling of 2,050 metres in eight holes has been completed as planned before the December break;
• Confirmation of extensive oxide mineralization at all drill locations validating the entire three-plus-kilometre strike within the Trapper zone.
• Drilling has been complemented by metallurgical sampling through the winter, with core from the Hawkeye zone (results expected in the coming weeks) and further metallurgical sampling will continue with core from the Trapper zone starting in Q1 2026.

The Radar property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (approximately 160 square kilometres), 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 with global iron-titanium-vanadium 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.

Corporate update

Further to the company's Oct. 10, 2025, news release, the company also wishes to announce that it has increased the maximum budget of its Oct. 10, 2025, engagement with i2i Marketing Group LLC for the continued provision of a range of corporate marketing and investor awareness services, including, but not limited to, content creation management, author sourcing, project management and media distribution, by an additional $250,000 (U.S.). The services are expected to run until the end of January, 2026, or until budget exhaustion. No securities have been provided to i2i or its principals as compensation.

Qualified person

Paul J. McGuigan, PGeo, 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 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 titanium project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 square kilometres on the surface near Cartwright, Labrador. Exploration to date, including a 2,200-metre drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite with strong grades of titanium and vanadium.

The Double Mer uranium project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18-kilometre east-west trend, with a confirmed 14-kilometre section producing samples as high as 0.428 per cent U3O8 (triuranium octoxide) and 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 that spans key commodities crucial for the clean energy future, Saga is strategically positioned to play an essential role in critical mineral security.

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