Vancouver, British Columbia--(Newsfile Corp. - July 10, 2026) - SAGA Metals Corp. (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) ("SAGA" or the "Company"), a North American exploration company focused on critical mineral discoveries, is pleased to announce that, further to its news release dated April 14, 2026, it has closed the previously announced acquisition of all of the issued and outstanding shares of Catalyst Rare Metals Ltd. ("Catalyst"), which holds a 100% interest in the Wolverine rare earth element ("REE") project (the "Wolverine REE Project"), a royalty-free, heavy rare earth project located near the coast of central Labrador, Canada (the "Acquisition"). The Acquisition was completed in accordance with a share purchase agreement (the "SPA") dated April 13, 2026, among the Company, Catalyst, and each of the shareholders of Catalyst (collectively, the "Vendors").
Wolverine REE Project Highlights:
The Wolverine REE project lies within the peralkaline Flower Lake Igneous Suite, an intrusive-volcanic complex that is part of the 1.28- to 1.13-billion-year-old Gardar rifting province, the latter hosts globally significant REE deposits: Tanbreez within the Ilímaussaq alkaline intrusive complex and Strange Lake within a peralkaline granite.
The project which includes a contiguous 29,450 hectares has district-scale potential, HREE enrichment, near-surface mineralization, and Tier-1 jurisdiction positions it as a potentially significant strategic REE asset.
2025 reverse circulation ("RC") drilling confirmed broad, near-surface REE mineralization across a 1.7 km × 1.2 km area hosted within a significant peralkaline caldera system.
537 samples from the 2025 program returned consistent mineralization, supporting strong continuity across the drilled footprint. Key intercepts include:
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WOLRC25-003: 48.8 m @ 0.77% total rare earth oxides ("TREO*") from 1.5 m, including 18.3 m @ 1.06% TREO
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WOLRC25-006: 38.1 m @ 0.71% TREO from surface, including 4.6 m @ 1.53% TREO
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WOLRC25-002: 51.8 m @ 0.52% TREO from surface, including 33.5 m @ 0.67% TREO
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Peak drill program assays reached 2.03% TREO (WOLRC-006-25 - Sample 2355079 from 1.5-3 m), with an average heavy rare earth oxides ("HREO") contribution of approximately 24-28%, highlighting strong heavy rare earth enrichment.
Large-scale potential is supported by 26 km² of exposed mineralized tuff at surface, 25-50m thickness, and less than 10% of the prospective unit drilled to date.
Mineralization remains open and under-explored, with >1% TREO enriched zones identified
In the southwestern area of the Project, seven (7) REE-bearing peralkaline pegmatites, have been identified (Figure 1).
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Thirty-nine (39) grab sample returned assays up to 21.6% TREO.
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