Mr. Mike Stier reports

SAGA METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND DEBT SETTLEMENT

Saga Metals Corp. intends to complete a financing by way of a non-brokered private placement for aggregate gross proceeds of up to $7.15-million, comprising up to 11 million flow-through (FT) common share units of the company at 65 cents per FT unit.

Each FT unit consists of one flow-through common share as defined in Subsection 66(15) of the Income Tax Act (Canada) and one-half of one transferable non-flow through common share purchase warrant. Each whole warrant will entitle its holder to purchase one non-flow-through common share in the capital of the company at a price of $1.10 for 24 months from the closing date of the offering. The warrant shares underlying the FT units will not qualify as flow-through shares under the tax act.

Each of the warrants will be subject to the right of the company to accelerate the expiry date of the warrants to a date that is 30 days following dissemination of a news release announcing such acceleration if, at any time, after the closing date, the closing price of the company's common shares equals or exceeds $1.75 for a period of ten consecutive trading days on the TSX Venture Exchange.

All securities issued in connection with the offering are subject to a hold period of four months and one day following the closing date pursuant to applicable securities laws.

The gross proceeds from the FT units will be used by the company for Canadian exploration expenses that are flow-through critical mineral mining expenditures (as such terms are defined in the tax act) on the company's Canadian mineral resource properties.

The company also announces that it has entered into debt settlement agreements to settle an aggregate of $220,461 of outstanding indebtedness owing to two arm's-length creditors in exchange for the issuance of an aggregate of 367,436 common shares of the company to the creditors. Completion of the debt settlement is subject to the company receiving all regulatory approvals, including acceptance by the TSX Venture Exchange.

Any shares issued to the creditors or in connection with the debt settlement will be subject to a statutory hold period of four months and one day.

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 Ti-V-Fe (titanium, vanadium and iron) 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 12,446 metres 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 company has signed a definitive agreement to acquire 100 per cent of the Wolverine heavy rare earth element project in Labrador, a near-surface REE (rare earth element) 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 square kilometres, including drill assays up to 2.03 per cent TREO, with approximately 28 per cent HREO content, and sample assays up to 21.6 per cent TREO. The Double Mer uranium project covers 25,600 hectares and features 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 (2024 Double Mer technical report).

Additionally, Saga owns the Legacy lithium project in Quebec's Eeyou Istchee James Bay region. This project spans 65,849 hectares and shares significant geological continuity with other major players in the area, including 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.

We seek Safe Harbor.