Mr. Harry Barr reports

NEW AGE METALS COMPLETES PHASE 1 ANTIMONY-GOLD FIELD RECONNAISSANCE EXPLORATION

New Age Metals Inc. has completed its phase 1 field reconnaissance exploration program on its Sb-Au (antimony-gold) properties located in the Gander area of central Newfoundland and in the St. Alban's area of south-central Newfoundland.

Highlights of the phase 1 field recon work

• A total of 286 rock samples (assays pending) were collected from mineralized, deformed, and altered outcrops and float boulders across multiple mineral licences, including Citadel, Rampart, Redoubt, Fort, Sentinel, Fastness, Palisade and Sentry;
• Abundant sulphide-bearing quartz veins with widespread pyrrhotite, pyrite, chalcopyrite and arsenopyrite were identified, particularly in the St. Alban's region. Elevated levels of Sb, Cu (copper), Pb (lead), Zn (zinc) and As (arsenic) were detected using a handheld pXRF device;
• A due diligence site visit was conducted on the adjacent Antimony Ridge property, confirming the presence of high-grade antimony-quartz veins in outcrop. This led to the recent option agreement, further consolidating New Age's land position along the potentially emerging Sb-Au trend in the St. Alban's region (see New Age press release dated July 7, 2025); and New Age's technical team eagerly awaits the laboratory assay results from phase 1 samples. When received, a comprehensive review will be undertaken to prioritize and guide the anticipated phase 2 exploration program.

Antimony, a critical metal: China, the world's largest producer/refiner severely restricted antimony exports in December, 2024, including a ban on shipments to the United States, sending antimony price to more than $60,000 per metric tonne, which more than quadrupled over the past year. China's recent antimony export ban created a supply shock for the strategic metal.

Harry Barr, New Age chairman and chief executive officer, states: "The initial field results from NAM's Sb-Au properties in the Gander and St. Alban's areas validate our exploration strategy and highlight the region's potential to host multiple types of mineralization. The field observations reveal a compelling combination of prospective stratigraphy, structural complexity, confirmed high-grade antimony-quartz veins and widespread sulphide-bearing quartz systems, all of which underscore the strength and potential of these targets. Advancing this work aligns well with the current historically high gold and antimony prices. We look forward to receiving assay data for these highly prospective Sb-Au properties and continuing to build on their significant potential."

Phase 1 field program observations

The phase 1 program successfully covered large areas of New Age's Sb-Au properties as part of a first-pass reconnaissance exploration effort. A total of 286 rock samples were collected and 63 geopoints mapped, effectively documenting lithologies, mineralogy, alteration and structural features across the traversed areas. The company's technical consultants from Axiom Group validated the majority of historical mineral occurrences documented in the Newfoundland government's mineral occurrence database (MODS) and identified several new, promising occurrences.

Central Sb-Au properties (Beaver Brook antimony mine area -- near Gander, Nfld.)

In the Beaver Brook area, the team successfully accessed and assessed all claim blocks, except for the Garrison block. Despite limited outcrop exposure, numerous encouraging boulders and float samples were collected. Given the close proximity to the Beaver Brook antimony mine and New Found Gold's Queensway South gold project, these results are highly promising. New Age's technical team is now undertaking a thorough review of all field data to develop a refined conceptual model and an exploration strategy tailored for these properties.

South Central Sb-Au properties (St. Alban's area properties near Bay D'Espoir, Nfld.)

The St. Alban's properties revealed abundant sulphide-bearing quartz veins, characterized by widespread pyrrhotite and pyrite, and veins that host chalcopyrite and arsenopyrite. The field crew, led by Axiom Group, also evaluated the recently optioned Antimony Ridge property (see New Age's July 7, 2025, press release). Although exposure was limited, the team confirmed the presence of antimony-quartz veins over an exposed strike length of approximately 400 metres. Localized zones contained at least three foliation-parallel quartz-stibnite veins ranging from 10 to 30 centimetres in thickness.

Notably, this occurrence has never been systematically explored or drill tested to date.

Additionally, in the southeast portion of the Antimony Ridge property, many (greater than 10) pieces of massive stibnite float were discovered, likely derived from a nearby local source.

Minimal time was spent on the Fort property; however, historical galena occurrences hosted in meta-psammitic rocks of the Baie d'Espoir Group were confirmed, along with several newly identified, undocumented occurrences of galena within broad silicified zones.

At Redoubt, the teams were highly encouraged by oxidized cliff-side outcrops displaying large-scale faulting. Numerous sampling stations yielded anomalous arsenic readings on the pXRF, likely derived from arsenopyrite.

On the Rampart property, a new zinc occurrence was mapped, spatially associated with strongly deformed (isoclinally folded) rocks of the Little Passage Gneiss Group. This occurrence suggests potential polymetallic mineralization and opens new target areas for follow-up exploration.

These findings align well with recent Newfoundland Geological Survey studies, which documented structurally controlled antimony-arsenic-gold mineralization within the Baie d'Espoir Group of the St. Alban's region and highlighted the importance of structural complexity and repeated fluid flow events in localizing mineralization.

Cautionary note on pXRF data

Grab samples were analyzed on site using a Thermo Scientific Niton XL5 Plus handheld XRF, operated by Axiom Group staff. The portable X-ray fluorescence (pXRF) data are preliminary and intended primarily as a rapid screening tool to assist with field target prioritization and mineral identification during early stage exploration. pXRF data do not represent definitive geochemical results for the entire rock mass and should only be considered indicative pending laboratory assays.

Antimony and gold markets commentary

Reuters reported on June 17, 2025, that China severely restricted antimony exports, including a ban on shipments to the U.S., sending antimony price to more than $60,000 per metric tonne, having more than quadrupled over the past year.

As a critical metal, antimony's market dynamics are influenced by its applications in various industries and geopolitical factors. China's recent antimony export ban created a supply shock for the strategic metal. Approximately 70 per cent of antimony is produced or refined in China.

Spot gold prices have traded as high as $3,500 (U.S.) per ounce, likely driven by heightened global uncertainties and increased demand from institutional and retail investors.

Central banks have continued their robust gold purchasing in 2025, adding 244 tonnes to their global reserves in Q1 and maintaining a strong pace into Q2, putting them on track for approximately 1,000 tonnes of purchases for the year. This sustained buying action underscores gold's role as a strategic asset amid economic instability and inflation concerns. Retail investors and family offices have also increased their gold holdings, seeking to hedge against market volatility. In Q1 2025, gold ETF inflows surged by 1,114 per cent quarter over quarter, reaching 226.5 tonnes. Despite some outflows in May, year-to-date ETF (exchange-traded fund) inflows remain strong at over 322 tonnes, reflecting a continued revival in retail appetite for gold.

The convergence of these factors highlights the strategic importance of antimony and gold antimony on the current global economic landscape.

New Age's strategic antimony-gold land position

New Age's properties in Newfoundland amount to approximately 19,800 hectares in 11 non-contiguous properties. Six of these properties are in the 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.

Qualified person

Dr. William Stone, PGeo and a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and a consultant to New Age, has reviewed and approved the scientific and technical disclosure in this press release.

The qualified person has not completed sufficient work to verify the historical information on the neighbouring properties. Nevertheless, the qualified person considers that drilling and analytical results were completed to industry standard practices. The reader is cautioned that mineral occurrences, prospects and deposits on neighbouring properties are not necessarily indicative of mineralization on the company's properties. This information may provide an indication of the exploration potential of the properties, but might not be representative of exploration results.

About New Age's PGE division

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of critical/green metal projects in North America. The company has three critical metal divisions: a platinum group element division, a lithium/rare element division and a gold-antimony division.

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 km by road east of Sudbury, Ont. In addition to River Valley, New Age owns 100 per cent of the Genesis PGE-Cu-Ni property in Alaska.

About NAM's lithium division

The company's lithium division is one of the largest mineral claim holders in the Winnipeg River pegmatite field, where the company is exploring for hard rock lithium and various rare elements such as tantalum, rubidium and cesium. New Age 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 Ltd. 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 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, subject to precautions for regional wildfire, 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.

Management is currently aggressively seeking new mineral acquisition opportunities.

The company's philosophy is to be a project generator with the objective of optioning its projects with major and mid-tier mining companies through to production.

The company is actively seeking an option/joint venture partner for its River Valley palladium project and its road-accessible Genesis PGE-Cu-Ni property in Alaska.

We seek Safe Harbor.