Mr. Harry Barr reports

NEW AGE METALS ANNOUNCES $3,500,000 FINANCING WITH ADDITIONAL INVESTMENT FROM ERIC SPROTT

New Age Metals Inc. has arranged a non-brokered private placement offering for aggregate gross proceeds of up to $3.5-million consisting of: (i) up to $2.3-million in units of the company at a price of 22 cents per unit and (ii) up to $1.2-million in flow-through units of the company at a price of 26 cents per FT unit. Eric Sprott has indicated his intention to subscribe for $2-million of the private placement.

Mr. Sprott currently is the largest shareholder in New Age and currently owns 23.2 per cent of the company.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each whole warrant shall entitle the holder thereof to purchase one additional common share at an exercise price equal to 40 cents at any time up to 36 months from closing of the private placement.

Each FT unit will consist of one common share of the company that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each whole FT unit warrant shall entitle the holder thereof to purchase one common share at an exercise price equal to 40 cents at any time up to 36 months from closing of the private placement.

The company may pay, to eligible persons, a finder's fee with respect to the sale of the units to non-insiders, which may comprise cash and/or non-transferable share purchase warrants. Any finder fee warrants issuable will entitle the finder to purchase one common share at an exercise price of 26 cents for a period of 36 months from closing of the private placement. The proceeds of the FT units will be used for exploration and development on the company's projects located in Newfoundland, Ontario or Manitoba. Proceeds of the units will be used for exploration and general working capital. Completion of the private placement and any finder fees payable are subject to all necessary regulatory approvals.

Harry Barr, chairman and chief executive officer, stated: "We are extremely pleased with Mr. Sprott's continued strong support of the company. His investment along with several new mining funds will allow us to continue the development of our existing projects and for the company's management team to be more aggressive with the acquisition of new projects. The funding timing is perfect due to increased prices of platinum group metals, gold, antimony and a renewed interest in our junior mining sector."

Insiders and an existing control person of the company will participate in the private placement. The issuance of any units or FT units to insiders will constitute a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the units or FT units to be purchased on behalf of insiders nor the consideration to be paid by insiders is anticipated to exceed 25 per cent of the company's market capitalization. A material change report will be filed fewer than 21 days prior to the closing of the offering as the details of insider participation are not yet known.

All securities to be issued in connection with the private placement will be subject to a hold period of four months plus one day from the date of issuance. The closing of the private placement is conditional upon the receipt of the conditional approval of the TSX Venture Exchange.

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 metal projects in North America. The company has three divisions: a platinum group element division, a lithium/rare element division, an antimony-gold division as well as an investment in MetalQuest Mining's high-purity Lac Otelnuk iron ore project.

The PGE (platinum group element) 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 owns 100 per cent of the Genesis PGE-Cu-Ni (platinum group element-copper-nickel) project in Alaska.

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 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 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.

This collaboration provides access to top-tier scientific expertise and equipment, significantly reducing analysis costs and adding long-term value to the project.

New Age's 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 currently owns approximately 12.79 per cent and holds warrants that, if exercised with today's issued and outstanding shares of MQM, would bring New Age to a 19.05-per-cent interest in MetalQuest Mining.

MetalQuest Mining is developing one of North Americas 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, MQM has contracted AtkinsRealis, an international engineering company, to complete a GAP Analysis on the Lac Otelnuk project and its 2015 feasibility study.

Management is currently aggressively seeking new mineral acquisition opportunities on an international scale. The company's 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 and its road-accessible Genesis PGE-Cu-Ni project in Alaska.

We seek Safe Harbor.