SAGA Metals Expands Portfolio with Acquisition of Amirault Lithium Property in Québec

Saga Metals Corp. (the “Company” or “Saga”), a North American exploration firm specializing in critical mineral exploration in Canada, is delighted to announce the signing of an asset purchase agreement (the “APA”) with two independent private vendors (the “Vendors”). Under this agreement, the Company will acquire full ownership of 606 mining claims spanning 31,347.76 hectares in the Eeyou Istchee James Bay region of Québec, known as the Amirault Property.

The Amirault Lithium Property adjoins Saga’s Legacy Lithium project, expanding the total contiguous land holdings to 1,274 claims covering 65,849.20 hectares (658 square kilometers). This acquisition enhances the Company’s position in the prominent paragneiss terrain, which is highly prospective for pegmatites, aligning with exploration successes by Winsome Resources, Azimut Exploration, Rio Tinto, and Loyal Lithium.

So far, Saga has identified more than 100 pegmatites spanning a total of 7 kilometers in length at the Legacy Lithium Project, containing lithium, cesium, and tantalum (LCT). Approximately 90% of the project area remains unexplored.

The Legacy Lithium Project has received further validation through recent announcements from major companies regarding their winter drill programs:

•  Winsome Resources' Adina Lithium project has reported an upgraded resource estimate of 78 million tonnes at 1.15% Li2O.

•  Loyal Lithium's Trieste project is advancing with significant intercepts, including 32.8 meters at 1.2% Li2O, with 8.3 meters at 2.4% Li2O in Dyke #04.

• Azimut Exploration and Soquem conducted an additional 3,203 meters of drilling at their Galinee project during the second phase, yielding results such as 2.68% Li2O over 54.6 meters and 3.48% Li2O over 35.85 meters.

• Midland Exploration, in collaboration with Rio Tinto, has confirmed high-grade lithium up to 7.2% Li2O and identified additional spodumene-bearing pegmatites at the Galinee project.

"This acquisition marks a significant milestone for Saga Metals Corp., expanding our claim package across the promising paragneiss terrain in the emerging eastern district of James Bay’s La Grande sub-province, providing the Company with numerous strategic opportunities," said Michael Garagan, Chief Geological Officer of Saga Metals Corp. "With promising initial findings from lake sediment surveys across the region, we are eager to explore the potential of this property."

Under the asset purchase agreement (APA), Saga Metals Corp. has agreed to acquire 100% ownership of the Amirault Property from the vendors. The consideration includes a cash payment totaling $200,000, to be paid in monthly installments of $10,000 until the closing date. At that time, any remaining balance of the cash payment will be settled. Additionally, Saga will issue 4,000,000 common shares to the vendors as part of the consideration. These Consideration Shares are subject to lock-up restrictions and a statutory hold period of four months and one day. According to the lock-up provisions, the vendors are restricted from selling or transferring the Consideration Shares until specified release dates, beginning with 10% on the closing date and subsequent releases every six months over a period of 36 months. Mike Stier, CEO & Director of Saga Metals Corp., commented, "This marks a significant achievement as we progress towards our IPO. We are currently navigating through the regulatory process and anticipate filing our final prospectus soon." As part of the APA, Saga will grant the vendors a 2.0% gross overriding royalty on the Amirault Property. The closing of the acquisition remains subject to customary conditions and regulatory approvals, with no finder’s fees or commissions paid in connection with the transaction.