SAGA Metals Reports Assays from R-0036 to R-0038 with Intercepts Including 50.46% Fe2O3, 7.21% TiO2, 0.395% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

Vancouver, British Columbia--(Newsfile Corp. - May 27, 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 report additional assay results from drill holes R-0036, -0037 and -0038 completed in 2026 as part of its ongoing maiden Mineral Resource Estimate ("MRE") diamond drill program at the Trapper Zone within the 100%-owned Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador, Canada.

The Trapper Zone forms part of an oxide corridor that includes the Falcon and Hawkeye Zones spanning 29 square kilometres near the center of the Property.

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 corridor validated over 29 km², encompassing the Trapper Zone, Hawkeye Zone, and the new Falcon Zone.

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Trapper South Assay Highlights

• Analytical results received for three (3) additional diamond drill holes(R-0036 to R-0038) from the MRE drill program reinitiated in 2026, delivering consistent broad intercepts of oxide mineralization.
• Key intercepts include:
  • Hole R-0036: 73.0 m @ 45.34% Fe₂O₃, 6.31% TiO₂, 0.345% V₂O₅
    • Including 34.0 m @ 50.46% Fe₂O₃, 7.21% TiO₂, 0.395% V₂O₅
  • Hole R-0037: 50.8 m @ 45.93% Fe₂O₃, 6.46% TiO₂, 0.348% V₂O₅
  • Hole R-0038: 100.8 m @ 41.23% Fe₂O₃, 5.21% TiO₂, 0.302% V₂O₅
    • Including 42.4 m @ 46.20% Fe₂O₃, 6.35% TiO₂, 0.364% V₂O₅
• These results now bring the total MRE drill results from 2026 to twenty-three (23) diamond drill holes received to date. As reported on March 5, 2026, March 18, 2026, March 31, 2026, April 21, 2026, April 28, 2026, and May 13, 2026, analytical results from the first twenty (20) diamond drill holes of the 2026 drill program include:

Table 1: MRE drill program assay intercepts previously reported in 2026 from drill holes R-0016 - R-0035.

• Top 10 intercepts from the MRE Drill Program to date can be found in Table 4 below.
• Completed forty-two (42) holes (R-0016 to R-0057) to date in 2026, with significant oxide intercepts including 202.3 m from R-0053 (true thickness of 132.1) of semi-massive oxide with extensive rhythmic oxide layering.
• These results bring the total number of reported 2026 MRE holes to twenty-three, with multiple holes returning thick oxide core intercepts exceeding 70-144 metres and certain assay intervals frequently above 45-54% Fe₂O₃, 6-7% TiO₂ and 0.37-0.44% V₂O₅.
• Rhythmic banding and semi-massive to massive oxide mineralization are observed consistently in Trapper South, aligning with prior high-grade results from Trapper North.
• Drilling is progressing efficiently, with 11,600 m completed in the Trapper Zone to date.
• Confirmed 29 km² central oxide corridor
• Excellent core recovery and representative sampling support ongoing metallurgical test work and the advancement of the maiden Mineral Resource Estimate.

Michael Garagan, CGO & Director of SAGA Metals, commented:

"These latest assay results from drill holes R-0036 to R-0038 continue to demonstrate excellent grade continuity across broad zones of oxide mineralization at Trapper South. With consistent high-grade intercepts returning strong values in titanium, vanadium and iron, we are successfully unveiling the true scale and quality of the 29 km² central oxide corridor. The remarkable consistency we are seeing reinforces the district-scale potential of the Radar Project and builds strong momentum toward our maiden Mineral Resource Estimate."

2026 Trapper South Drilling Summary

Table 2:Summary of drill holes R-0016 to R-0057, highlighting the oxide intercepts. Logging of R-0056 & R-0057 is in progress. See Figures 2 & 3 below, which depict the oxide mineralization in cross sections S7 and S9. True thickness represents the perpendicular width of the mineralized zone, while the total downhole oxide represents the length of the mineralization intercepted downhole.

Table 3:Summary of total meters drilled in Q4 2025 and 2026 to date, including total core samples cut and prepared.

Figure 2: Trapper South map outlining location of the initial 2026 focus for the remainder of the MRE drill program to be completed in 2026, including cross-sections S14, S13, S12, S11, S10, S9, S8, S7, S6, S5, and S4, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

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The latest results from these drill holes, R-0036, R-0037 and R-0038, once again demonstrate excellent continuity across broad zones of oxide mineralization, underscoring the growing potential for a sizable mineral resource that could create meaningful long-term value for SAGA shareholders.

Detailed Logging Highlights from Drill Hole R-0036 to R-0038

• Hole R-0036 (Cross-Section S07): Drill hole R-0036 under cut R-0018 and was drilled on section S07 with an attitude of -70° towards 38° with a total depth of 212 m. The hole intersected a 76.6 m oxide zone from 47.4 m to 128.0 m. The interval is dominated by 68.0 m of semi-massive to massive oxide mineralization, with 8.6 m of rhythmic layering.
• Hole R-0037 (Cross-Section S09): Drill hole R-0037 was drilled on section S09 with an attitude of -45° towards 38° with a total depth of hole of 206 m. The oxide zone starts at 42.6 m at the lower contact of a small felsic dyke and extends to 146 m, for a total oxide mineralization of 103.4 m. The interval is composed of 52.6 m of rhythmic banding with 50.8 m of semi-massive oxide.
• Hole R-0038 (Cross-Section S09): Drill hole R-0038 under cut R-0037 and was drilled on section S09 with an attitude of -70° towards 38° with a total depth of hole of 182 m. The oxide zone is 100.9 m thick (true thickness of 73.7 m). The oxide zone includes rhythmic oxide layering (45.0 m total) and semi-massive oxide (55.9 m total) ending at 146.2 m at a magmatic contact with a felsic dyke.

Figure 3:Cross section of S7 looking NW showing R-0018, -0024, -0025, and -0036, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0018, -0024, -0025 and R-0036.

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Figure 4:Cross section of S9 looking NW showing R-0031, -0032, -0037, and -0038, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0031, R-0032, R-0037, and R-0038.

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Sampling Summary

IGS Laboratories finalized the analysis of 482 samples from R-0039, -0040, -0041, -0042, and -0043 and released the assays late last week. The Company is reviewing and interpreting the data to release the next set of assays in a week. In addition, 478 samples from R-0044, -0045, and -0046 were shipped to IGS and have been received; analysis has begun. A total of 6,689 samples have been collected to date in the Trapper Zone.

Key Project Highlights

• Confirmed mineralization in 57 out of 57 drill holes completed and observed in two primary zones to date.

• Analytical results to date include numerous oxide-rich intercepts, including:

Table 4: Top 10 intercepts from the 2025 & 2026 drilling programs at the Trapper Zone

• Infrastructure including road access, deep-water port, nearby hydro-electric power and regional airport.
• Confirmed a 29.0 km² central oxide corridor that encompasses the Trapper, Falcon and Hawkeye Zones, demonstrating district-scale potential.
• Consistent grades and thicknesses with semi-massive to massive oxide reporting up to 72.33% Fe,13.3% TiO2, and 0.66% V2O5.
• Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing.
• A total of 11,600 m has been completed and reported to date for theMRE drill program. See Figure 1 showcasing 2026 drilling in Trapper South reported to date.

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 corridor encompassing 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 5: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 corridor 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.

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Qualified Person
Paul J. McGuigan, P. Geo., 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.

Technical Information

Diamond drill core was logged and sampled by Company personnel at SAGA's core facility in Cartwright, Labrador. The drill core diameter was NQ. The core was cut lengthwise using a diamond saw, and one half was retained in the core box, while the other half was sampled at designated intervals for analysis.

Core samples were prepared and analyzed at the Impact Global Solutions (IGS) laboratory facility in Montréal, Québec. As part of the analytical quality assurance and quality control (QA/QC) program, certified reference standards, blanks, and duplicate samples were inserted into the sample stream at regular intervals to monitor analytical accuracy and precision.

Crush rejects and pulp samples are retained and stored in a secure facility for potential future verification and re-analysis. The Company maintains a rigorous QA/QC protocol consistent with industry standard practices.

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 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 13,809 m 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% of the Wolverine Heavy Rare Earth Element Project in Labrador, a near-surface REE 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 km², including drill assays up to 2.03% TREO with approximately 28% HREO content, and sample assays up to 21.6% TREO.

The 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 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.

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. 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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Source: Saga Metals Corp.

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