Vancouver, British Columbia--(Newsfile Corp. - September 29, 2026) - SAGA Metals Corp. (TSXV: SAGA) (OTCQX: SAGMF) (FSE: 20H) ("SAGA" or the "Company"), a North American exploration company focused on critical mineral discoveries, is pleased to announce that it has advanced its collaborative metallurgical program with Temas Resources Corp. ("Temas") into Stage 2 - Detailed Bench-Scale Optimization of Temas' proprietary Regenerative Chloride Leach ("RCL") technology on mineralization from SAGA's 100%-owned Radar Critical Minerals Project near Cartwright, Labrador.

Stage 2 moves the Radar program from initial validation into defined process optimization. The work is designed to establish reproducible RCL leaching and downstream solvent-extraction parameters for titanium, vanadium and iron, produce first high-purity product samples, and generate the engineering data required to support a Gate 2 decision on a proposed mini-pilot program.

Highlights

• Stage 2 now underway: SAGA and Temas have commenced an approximately eight-week Detailed Bench-Scale Optimization program following Stage 1 recoveries of up to 90.8% titanium, 97.4% vanadium and 91.5% iron.
• Defined flowsheet objective: Stage 2 will optimize RCL leaching and downstream solvent extraction for titanium, vanadium and iron, with the goal of establishing reproducible operating parameters and preliminary process design criteria.
• First product samples targeted: The program will generate sufficient pregnant leach solution for solvent extraction testing and is designed to deliver first samples of high-purity titanium dioxide, vanadium and iron products.
• Clear line of sight to pilot-scale: Successful completion of Stage 2 is intended to inform a Gate 2 decision that, subject to results and approval, could advance the work to a proposed mini-pilot program and, subsequently, 500-1,000 kg pilot-scale testing.
• Built for PEA/PFS-level evaluation: The program is designed to deliver the initial metallurgical and engineering data required to support future project evaluation at Radar, including a targeted Preliminary Economic Assessment in 2027.
• On-site value-add potential: Unlike conventional routes that typically stop at mid-stream concentrates, RCL is being evaluated for production of final downstream products with direct market access, supported by Radar's location less than 20 km from a deep-water port.

Mike Stier, CEO & Director of SAGA Metals, commented:

"Advancing into Stage 2 with Temas is the natural next step for Radar. Stage 1 showed that RCL can deliver strong titanium, vanadium and iron recoveries from our mineralization without detailed process optimization. Stage 2 is where we convert those recoveries into an optimized flowsheet and the first high-purity products. Generating titanium, vanadium and iron product samples, while locking in the engineering parameters for future pilot testing, will give us the technical foundation we need as we evaluate a more integrated, value-added development path in Labrador. With Radar located less than 20 kilometres from a deep-water port, the opportunity to pursue downstream products on site is a compelling part of the story."

Stage 2 Detailed Bench-Scale Optimization

Stage 2 is being conducted by Temas on material supplied by SAGA and is expected to take approximately eight weeks. The program commences by testing two run-of-mine ("ROM") Massive Oxide samples side by side, comparing titanium, vanadium and iron extraction, reagent consumption, leach kinetics, solution quality, residue characteristics, grinding requirements and overall process performance.

Optimization will focus on the key RCL operating variables, including hydrochloric acid and magnesium chloride concentrations, temperature, oxidation-reduction potential, retention time, solids concentration and particle size. The objective is to establish reproducible conditions that maximize extraction while improving reagent efficiency and solution quality.

Downstream Flowsheet and First Products

This optimization phase also develops the downstream solvent extraction circuit for iron, titanium and vanadium, testing extraction, scrubbing and stripping conditions and developing McCabe-Thiele isotherms to establish preliminary solvent extraction operating parameters.

The optimized leaching program is intended to generate sufficient pregnant leach solution to run the solvent extraction circuit and recover first samples of high-purity titanium dioxide, vanadium and iron. These samples are designed to bridge metallurgical testing and commercial product evaluation, and to support assessment of end-use markets in pigment, titanium sponge feed, steel, energy storage and related industrial applications.

Temas' RCL process consists of an atmospheric chloride leach followed by successive solvent extraction of titanium, vanadium and iron. The process is designed to produce a high-purity titanium-bearing strip solution that can be converted to TiO2 products, a high-purity vanadium product suitable for steel or battery applications, and a high-purity iron product suitable for pigment or iron production. RCL employs commercially proven unit operations and is flexible across a range of titanium-vanadium-iron feedstocks.

Stage-Gated Path to Pilot Testing

This phase is expected to deliver:

• Comparative characterization and leaching results;

• Optimized RCL leaching and downstream solvent extraction conditions;

• McCabe-Thiele isotherms;

• Selection of the preferred feed material; and

• A recommendation regarding readiness for mini-pilot testing.

These deliverables will provide the basis for a decision on establishing a SAGA pilot program at Radar.

Subject to successful completion of Phase 1 (includes stage 1 & 2) and approval by SAGA, Phase 2 would advance to a mini-pilot program generating continuous operating data, process design criteria and product samples, together with the technical basis for preliminary CAPEX and OPEX evaluation. Phase 2 is expected to run over a 10-week period, with the final scope and budget to be established on completion of Phase 1.

Advancing through defined technical gates, rather than moving directly from laboratory testing to larger-scale processing, is intended to de-risk the flowsheet and mark the transition from metallurgical validation to the engineering, product and scale-up data required for potential commercial development and PEA/PFS-level evaluation.

Tim Fernback, President & CEO of Temas, commented:

"Stage 1 showed RCL works on SAGA's titanium-vanadium-iron mineralization. Stage 2 is where we move from extraction to an optimized process and the first titanium, vanadium and iron products. The objective is straightforward: generate the engineering and metallurgical data needed for pilot-scale testing and future economic evaluation. Each successful third-party program also reinforces RCL as a platform we can apply across multiple critical mineral projects."

Recap of Stage 1 Validation Results

As previously reported on July 30, 2026, Stage 1 successfully demonstrated the applicability of RCL to three representative SAGA feed materials from Radar: ROM Massive Oxide, vanadium-titanium magnetite ("VTM") concentrate and ilmenite concentrate. Testing included feed characterization, primary and secondary (two-stage) leaching, solution and residue analyses, material balance calculations and recovery determinations.

Titanium recoveries increased as feed quality improved, while vanadium and iron recoveries remained consistently high. The ilmenite concentrate delivered the highest titanium extraction at 90.8%, with vanadium at 97.4% and iron at 91.5% under the conditions tested. Iron extraction remained above 86% across the three representative samples, and vanadium extraction exceeded 94% in every test.

As previously reported on June 18, 2026, SAGA's Hawkeye Davis tube analytical interpretation indicated that the non-magnetic fraction (ilmenite) commonly contains approximately 86-92% of the head TiO2.

An independent technical review concluded that all Stage 1 objectives were achieved and recommended advancement into the Detailed Bench Optimization Program, noting that optimizing leaching conditions and downstream processing is expected to further improve performance and provide the engineering information needed to support pilot-scale development.

Regenerative Chloride Leach (RCL) Technology

Temas has developed the Regenerative Chloride Leach (RCL) process to produce high-purity TiO2 directly from titanium-bearing concentrates, with the bulk of prior validation work conducted on ilmenite and titanomagnetite-dominant feedstocks.

The process consists of an atmospheric chloride leach followed by solvent extraction of Ti, V and Fe successively, producing a high-purity Ti-bearing strip solution that can be converted to TiO2 products for pigment, pharmaceutical, and food applications or further processed into titanium alloy. This process delivers a high-purity V2O5 product suitable for large-scale battery storage or steel production as well as a high-purity Fe2O3 product suitable for pigment or iron production can also be recovered. The RCL process employs commercially proven unit operations and is flexible enough to be applied to a wide range of feedstocks.

Benefits the ORF - RCL Technology

The RCL platform technology involves the hydrometallurgical element extraction from concentrates, whole ores, slags and tailings to enhance recovery of critical metals, battery metals, Platinum Group Minerals ("PGMs"), precious and base metals and Rare Earth Element ("REE") recovery at materially higher through-yields and lower capital and operating costs than many of the conventional approaches that are in use traditionally. This novel RCL technology is ideally suited to treat increasingly complex ores in an environmentally sensitive manner.

Validated Cost Reduction: A significant cost reduction of over 65%^1,2 is validated for TiO2 processing using the RCL platform technology (e.g., reagent recycling, potentially lower energy use, optimized recovery etc.). These fundamental process efficiencies are expected to translate into economic advantages when applying the platform to SAGA's titanium-vanadium-iron mineralization.

Environmental Performance: The closed-loop design and high reagent recycling rates are core to the RCL platform, irrespective of the target mineral. Over 69% lower operating costs compared to conventional processing due to its core features operating at near ambient temperatures². This means the reduced environmental footprint and enhanced environmental, social and governance (ESG) profile are benefits that extend to ores and minerals previously noted, not just TiO2.

The mining industry is entering a period of significant transformation, driven by growing demand for critical minerals, increasing environmental performance expectations and the need for secure domestic supply chains in North America and allied jurisdictions. Processing technologies capable of improving recoveries, reducing waste streams and lowering environmental impacts are expected to become increasingly valuable as mining companies seek to maximize the economic potential of these strategic ore bodies.

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-bearing lopolith that host 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.

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 lopolith 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:
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Key Project Highlights

• 100% of drill holes intersected oxide mineralization, supporting a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization.
• Analytical results to date include numerous oxide-rich intercepts, including:

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

• Infrastructure including road access, deep-water port, nearby hydro-electric power and regional airport.
• Radar project encompasses a lopolith covering 29 km² and hosts the Trapper, Falcon and Hawkeye mineralized zones that have consistently returned high grades of titanium, vanadium and iron across significant true widths.
• 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 22,432 m has been completed and reported to date for the MRE drill program.
• SAGA has engaged GeoGlobal LLC to complete the independent NI 43-101 mineral resource estimate and technical report.

Sources:

1. These metallurgical test results and cost-reduction data were first reported in the Company's Canadian market announcement dated 13 April 2021, titled "Temas Resources Acquires 50 % of Green Mineral Process Developer ORF Technologies Inc."
2. The cost-reduction figure is supported by independent evaluation conducted by the Natural Resources Research Institute (University of Minnesota, 2017) and subsequent pilot-scale validation by ORF Technologies Inc., as detailed in Temas Resources news releases of 2021 and 2022.

Investor Awareness Engagement

The Company further announces it has engaged Spark Newswire Inc. ("Spark Newswire") to provide certain financial publishing and digital marketing services, reporting to the Company's CEO.

The investor relations initiatives are aimed at increasing investor awareness and interest in the Company and will be conducted through social media, digital publications and advertising, websites, and newsletters. The services commence on October 1, 2026, and will continue for three months with either party having the right terminate the agreement by providing 30 days' notice. Following the initial three-month term, the Company may, at its discretion, continue the engagement on a month-to-month basis at the existing service level or transition the engagement to a reduced maintenance budget and scope of services. Any continued month-to-month engagement will remain subject to the same 30-day termination provision. The Company will pay Spark Newswire USD $400,000 total for its services. The Company will not issue any securities to Spark Newswire in consideration of the services.

Spark Newswire operates out of Vancouver, British Columbia and provides consulting and capital market advisory services to public companies. Spark Newswire is very selective in the clients it works with, only partnering with organizations that have a well-deserved reputation for quality and credibility and only working with one organization within a particular market sector at a time. Spark's goal is to integrate with its clients' values and core brand narratives, becoming an extension of the overall corporate and capital markets team, assisting in building shareholder equity, brand equity and overall market awareness. The Company and Spark Newswire deal at arm's length and do not have any prior relationship. Spark Newswire is located at 800-885 West Georgia Street, Vancouver, British Columbia V6C 3H1 and can be reached at 604-999-7361 or by email at steve@sparknewswire.com.

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 24,641 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 peralkaline volcanic rocks that shares geological similarities with the intrusion-hosted Tanbreez, Strange Lake deposits and the stratiform Brockman (Hastings) REE deposit, Western Australia. Historic drilling identified consistent mineralization with assays up to 2.03% TREO including approximately 28% HREO. Large scale potential is supported by 26 km² of exposed mineralization tuff at surface with about 5% of the prospective unit drilled to date. In addition, grab sample assays of pegmatite hosted in peralkaline granite returned 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.

About Temas Resources Corp.

Temas Resources Corp. (ASX: TIO) (CSE: TMAS) (OTCQB: TMASF) (FSE: 26P0) is advancing the commercialization of its proprietary Regenerative Chloride Leach ("RCL") Platform Technology while developing a portfolio of critical mineral assets in North America.

The Company's RCL Platform is designed to recover titanium, vanadium, iron and other critical minerals using a regenerative mixed chloride leaching process intended to improve recoveries, reduce reagent consumption and provide an environmentally responsible alternative to conventional extraction technologies.

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.

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 Radar Project and its involvement with Temas Resources' RCL Technology. 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. 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.

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