SAGA Metals Reports 8 Completed Drill Holes at Trapper North Aimed to Expand the MRE at the Radar Critical Minerals Project

SAGA Metals advances drilling at Radar with all holes intersecting oxide mineralization.

What the company is saying

SAGA Metals Corp. reports that its NQ drilling program at Trapper North on the Radar Titanium-Vanadium-Iron Project is progressing on schedule, with completion expected in the coming weeks. The company emphasizes that all 102 logged holes to date have intersected oxide mineralization, with new logged oxide intervals ranging from 48.8 m to 409.7 m per hole. Management, including Chief Geological Officer Michael Garagan and CEO Mike Stier, frames the update as a technical milestone aimed at increasing drill density and refining the geological model for an expanded Mineral Resource Estimate. The tone is confident, highlighting the integration of new structural data and the immediate follow-up to the prior 85-hole, 22,432-metre MRE drill program. The announcement also details the scale of SAGA’s portfolio, referencing the 24,175-hectare Radar Property, 25,600-hectare Double Mer Uranium Project, 73,866-hectare Legacy Lithium Project, and the Wolverine Heavy Rare Earth Element Project with historic assays up to 2.03% TREO and 28% HREO. The company states that assays for the current drill program are pending and will be reported soon, with next steps focused on completing drilling, submitting samples, and updating the resource estimate.

What the data suggests

The operational data confirms that eight new NQ holes totaling 2,788 m were drilled between September 19 and November 5, 2026, and all 102 logged holes at Trapper North contain oxide mineralization. Logged oxide intervals in the new holes range from 48.8 m to 409.7 m, with infill drilling reducing section spacing to 50 m for improved geological confidence. The infill program directly follows an 85-hole, 22,432-metre MRE drill campaign completed in August 2026. The Radar Property covers 24,175 hectares and has seen 28,439 m of drilling in the Hawkeye and Trapper zones. The Wolverine Project has historic drilling with assays up to 2.03% TREO and 28% HREO, and grab samples up to 21.6% TREO, with only about 5% of the prospective unit drilled. The Double Mer Uranium Project spans 25,600 hectares, with samples up to 0.428% U3O8, and the Legacy Lithium Project in Quebec covers 73,866 hectares. Assays for the current drill program are pending, so no grade or economic data is yet available for the new holes. The company’s disclosure is detailed for operational progress but remains pre-resource and pre-economic, with all forward-looking statements clearly identified as pending or planned.

Analysis

The announcement is factual and detailed, focusing on operational progress in drilling and geological interpretation at the Radar Titanium-Vanadium-Iron Project. Most claims are realized and supported by specific metrics: number of holes, meters drilled, logged intervals, and property size. Forward-looking statements (such as pending assays and the upcoming expanded MRE) are clearly identified as next steps, not as completed achievements. There is no exaggerated language about imminent production or outsized economic impact, and no large capital outlay is disclosed in this update. The tone is positive but proportionate to the evidence, with no claims of commercial outcomes or profitability. The gap between narrative and evidence is minimal, as the company refrains from inflating the significance of current results and provides concrete operational data.

Risk flags

• ●Assay results for the current drilling are pending, so the true grade and economic potential of the new oxide intersections remain unverified. This introduces uncertainty about whether the mineralization will meet thresholds for resource expansion or future development.
• ●The company is still pre-resource for the new drilling, and the expanded Mineral Resource Estimate has not yet been completed. Until this is published, investors lack a compliant resource base to assess project scale or potential value.
• ●Operational execution risk exists as the program is ongoing, with completion and sample submission still outstanding. Delays or issues in drilling, sampling, or laboratory turnaround could impact the timeline for resource updates.
• ●The company’s portfolio is large and diversified across multiple critical mineral projects, but most assets remain at an early exploration stage. This disperses technical and financial focus and may dilute near-term value realization if no single project advances rapidly to resource or economic study.

Bottom line

SAGA Metals has completed eight additional NQ drill holes at Trapper North, bringing the total to 102 holes with oxide mineralization logged in every one, and has reduced section spacing to improve geological confidence ahead of an expanded Mineral Resource Estimate. The company’s disclosure is thorough for operational progress, with clear metrics on meters drilled, property sizes, and historic assay results across its portfolio. However, all assays for the current program are pending, and no new grade or economic data is available yet, so the investment case remains speculative until these results are published. The next actionable catalyst will be the release of assay results and the updated resource estimate, which will determine whether the project can advance toward development. For now, the main takeaway is that SAGA continues to execute on its drilling plan, but investors must wait for hard assay data before reassessing project value or potential upside.

Announcement summary

(TSXV:SAGA) (FSE:20H) SAGA Metals Corp. announced that NQ drilling at Trapper North on its Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador is progressing on schedule, with completion expected in the coming weeks. The current program aims to increase drill density and expand geological and structural interpretation to support an expanded Mineral Resource Estimate (MRE). Eight NQ holes (R-0093, R-0094, R-0095, R-0098, R-0099, R-0102, R-0103, and R-0104) were drilled between September 19 and November 5, 2026, totaling 2,788 m. Oxide was logged in every hole, with logged oxide intervals ranging from 48.8 m (R-0098) to 409.7 m (R-0094), and all 102/102 logged holes to date contain oxide mineralization. Section spacing was halved to 50 m with three infill holes (R-0094, R-0095, R-0099) drilled on new intermediate sections N10A, N11A, and N09A, each about 50 m from neighboring 100 m drill sections. Five holes targeted the center of the oxide zone and the deeper southwest limb of the Trapper North anticline to add geochemistry and structural data for modeling. All core was oriented to measure attitudes of layering, contacts, and structures. The infill program immediately followed the Company's 85-hole, 22,432-metre MRE drill program at the Trapper Zone, completed in August 2026. The new dataset from the current program will be used in a follow-up mineral resource estimate, as these holes are not part of the maiden estimate being prepared by GeoGlobal LLC. The Radar Property comprises 690 mineral claims across 9 mineral licenses, totaling approximately 24,175 hectares in southeastern Labrador, and encloses the Dykes River Intrusive Complex (~160 km² at surface). Exploration to date includes 28,439 m of drilling in the Hawkeye and Trapper zones. The 100% owned Wolverine Heavy Rare Earth Element Project in Labrador has historic drilling with assays up to 2.03% TREO including approximately 28% HREO, and grab sample assays of pegmatite hosted in peralkaline granite returned up to 21.6% TREO. The Wolverine prospect has 26 km² of exposed mineralization tuff at surface, with about 5% of the prospective unit drilled to date. The 100% owned Double Mer Uranium Project covers 25,600 hectares and has produced samples as high as 0.428% U3O8. SAGA also owns the Legacy Lithium Project in Quebec's Eeyou Istchee James Bay region, spanning 73,866 hectares. Michael Garagan is Chief Geological Officer & Director, and Mike Stier is Chief Executive Officer. Dr. A. Miller, PGO, PEGNL, is the Independent Qualified Person for the technical information. Assays for the current drill program are pending and will be reported in the coming weeks. The next steps include completing the remainder of the planned holes, submitting samples to IGS in Quebec, integrating data into the geological model, and completing an expanded MRE for the Trapper Zone.

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