New Age Metals Options Magnet Lake Property Further Expanding the Bonanza Ridge Gold & Critical Metals Project, Kenora Mining District, Ontario

15:35 Uhr  |  The Newswire

Rockport, December 9th, 2025 - New Age Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) ("NAM" or the "Company") is pleased to announce that effective December 4, 2025, after completing its due diligence, the Company has entered into an option agreement with arms-length parties, Mr. George Zebruck and Mr. Richard Zebruck (Kenora District prospectors) to acquire the Magnet Lake Property. The Property consists of 55 mining claims totalling 1,147 ha (2,834 acres) and is located ~25 km southeast of the City of Kenora in northwestern Ontario. NAM has the option to acquire a 100% of the Property pursuant to the terms and conditions outlined below, subject to a 2% net smelter return (NSR) royalty retained by the prospectors, which the Company has an option to buy down to 1% for $1 million in cash.

With this acquisition, the Magnet Lake Property will be incorporated into the Company's rapidly expanding Bonanza Ridge Gold and Critical Metals Project (see news release dated October 27, 2025: New Age Metals Receives Exchange Approval for Bonanza Gold Project, Kenora Gold District, Ontario). This addition reinforces New Age Metals' commitment to building one of the largest claim holdings in the Kenora Mining District - an emerging critical- and precious-metals region.

Highlights of the Magnet Lake Property are as follows:

• Multiple enriched and elevated copper occurrences at surface including; 2.14% Cu, 0.70% Cu, 0.25% Cu, 0.23% Cu, 0.20% Cu, and five additional samples grading 0.10%-0.12% Cu (see Table 1 below);

• Excellent infrastructure, with road, trail and boat access to all areas of the Property and provincial grid power lines nearby

• Located 25 km southeast of Kenora, a major northwestern Ontario economic hub with a population of ~14,800

• Limited modern exploration, leaving substantial potential for new discoveries.

• NAM is committed to working collaboratively with local First Nations to ensure responsible, sustainable exploration that respects community values and priorities.

Harry Barr, Chairman & CEO of New Age Metals, stated, "We are very pleased to add the Magnet Lake Property to our growing portfolio at a time when the Ontario Government is aggressively advancing its Critical Minerals Strategy. Recent government-First Nation agreements to open development pathways in the Ring of Fire underscore the province's long-term commitment to building a world-class critical-minerals jurisdiction.

With our 12.2% ownership in Metal Quest Mining Corp. (TSXV: MQM; OTC: MQMIF; FSE:E7Q.F) ("MQM" or the "Company"), which is actively acquiring strategic positions in the Ring of Fire region (see MQM news release: MetalQuest Secures Critical Minerals Project in Northern Ontario's Ring of Fire Region), New Age Metals is well-positioned to benefit from the expanding critical-metals momentum across the province and internationally.

The acquisition of the Magnet Lake Property aligns perfectly with our vision of creating value through discovery in top-tier jurisdictions."

Due Diligence Site Visit and Sampling Results

A due diligence site visit and verification sampling program was successfully executed in mid-October, 2025. Thirty-seven grab samples were taken from quartz veins, basalt, gabbro, and sulphide zones at 3 prospects on the Magnet Lake Property. The mineralization occurs in mafic volcanic to mafic and ultramafic rocks that host visible chalcopyrite, pyrrhotite, pyrite, and localized malachite. The rocks are generally metamorphosed under greenschist conditions.

The mineral occurrences sampled, and RUSH fire-assay and multi-element assay results are shown in Figure 1 and listed in Table 1. Photographs of selected high-grade samples are shown in Figure 2. The due diligence program successfully confirmed the presence of high-grade copper mineralization on the Property, particularly at the Gold Lake and Hollow Lake Prospects. The historical Hollow Lake Prospect was not confirmed by the prospectors prior to this site visit but, while prospecting, a newly discovered outcrop was uncovered, and a grab sample assay returned 2.14% copper (Sample# 572586).

Click Image To View Full Size

Figure 1: Grab sample assay results from the due diligence verification program on the Magnet Lake Property. The map also illustrates the adjacent Bonanza Ridge Gold Property (shown outlined in grey), where recent due diligence sampling returned grades of up to 127 g/t Au at the Triggs Occurrence and 31.9 g/t Au at the Blue Star Occurrence.

Table 1. Due Diligence Sample Assays for Magnet Property

Notes: Channel sample numbers are based on naming scheme by prospectors George and Richard Zebruck. <5 ppb means less than the lower detection limit of 5 ppb Au.

Cautionary Note: Grab rock (outcrop and boulder) samples are selective by nature and are unlikely to represent average grades on the Magnet Lake Property. These results are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of a mineral deposit. However, these samples demonstrate significant copper (and gold) mineralization potential on parts of the Property.

Figure 2. Photographs of Selected Due Diligence Mineralized Samples Collected by NAM Technical Representatives.

The Kenora Gold District

With the acquisition of the Magnet Property, NAM continues to strengthen its presence within the Kenora Mining District. Securing an under-explored land package adjacent to the Bonanza Gold Property enhances the potential for future value creation as the Company builds on its early success in the region. The Magnet Property represents an additional opportunity to explore largely untested ground with recently identified base-metal targets.

Copper has been designated a critical mineral by the Government of Canada since 2024, due to its essential role in clean technologies, such as electric vehicles and wind turbines and concerns surrounding the security of long-term supply chains. The early indications of copper mineralization on the Magnet Property further diversify New Age Metals' property portfolio with a strategically important commodity.

The Kenora Gold District, located in northwestern Ontario, has been recognized since the late-1800s for its high-grade Archean lode-gold mineralization. With established infrastructure, year-round access, a highly skilled workforce, and historically high gold price, Kenora has the potential to become a future cornerstone of northwestern Ontario's mining industry. Some of the majors and mid-tier companies active in the District are Agnico Eagle, Kinross, Centerra, New Gold and, more recently, Coeur Mining.

Terms of the Option Agreement

To exercise the Option, NAM's agreement calls for a series of cash payments and share issuances to the Prospectors, exploration expenditures on the Project. Any share payments that become issuable under the terms of the agreement will be based on a 10-day trading average prior to the date of issuance, subject to a minimum deemed issue price of $0.27 per share. NAM has the ability to terminate the agreement any time after the first year's commitments have been completed.

Table 2. Terms of the Agreement

The transaction and any securities issued in connection with the agreement are subject to TSX Venture Exchange approval and a four-month plus one day hold period in accordance with applicable Securities Laws.

Analytical Methods, Chain of Custody, and Quality Assurance/Quality Control

NAM maintains a rigorous QA/QC protocol for all the verification rock samples collected for due diligence purposes. Two certified reference materials ("CRMs") were inserted into the sample batch. The CRMs were sourced from industry-certified providers and selected to match, as closely as possible, the expected mineralization style and grade ranges of the due diligence samples.

When collected, all samples were individually sealed in heavy-duty plastic bags, labelled with unique sample numbers, and placed into rice bags for transport. Continuous possession of the samples was maintained until they were dropped off at a courier service in Saskatoon for express delivery to SGS Canada Minerals laboratory facilities in Burnaby, British Columbia. At this facility, the samples were weighed and prepared into pulps in accordance with SGS's standard procedures prior to being analysed on a RUSH basis for gold and 55 additional elements.

The analytical work included:

• Gold: Au exploration grade50 g Fire Assay with Atomic Absorption Spectrometry ("AAS") (reporting limits 5 to 10,000 ppb) (GE_FAA50V5

• Gold: Au over limit analysis "ore" grade 50 gFire Assay with Gravimetric Finish (reporting limits 0.5 to 10,000 ppm)(GO_FAG50V)

• Silver: Ag over limit analysis "ore" grade 30 g Fire Assay with Gravimetric Finish (reporting limits 50 - 10,000 ppm) (GO_FAG37V);

• Multi-element: 55 element analysis - sodium peroxide fusion, ICP-AES/ICP-MS, (GE_ICM90A50)

• Multi-element: Cu, Co, Ni, Pb, Zn over limit analysis "ore" grade sodium peroxide fusion, ICP-AES (GO_ICP90Q100)

Internal laboratory QA/QC procedures at SGS included the insertion and analysis of certified reference materials, analytical blanks and sample duplicates with the submitted samples to monitor analytical accuracy and precision.

Qualified Person

Dr. William Stone, P.Geo. and an independent Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects and a geoscience consultant to NAM, has reviewed and approved the scientific and technical data disclosure in this press release.

The Qualified Person has not completed sufficient work to verify the historical information on the neighbouring and other properties in the Kenora region. Nevertheless, the Qualified Person considers that historical drilling and analytical results were completed to industry standard practices. The reader is cautioned that mineral occurrences, prospects and deposits on neighbouring properties are not necessarily indicative of mineralization on the Company's properties. This information may provide an indication of the exploration potential of the Properties, but might not be representative of exploration results.

About NAM

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 (TSXV:MQM | OTC:MQMIF) high purity Lac Otelnuk Iron Project.

The PGE Division includes the 100% owned, district-scale River Valley Project, one of North America's largest undeveloped Platinum Group Element Projects, situated 100 km by road east of Sudbury, Ontario. In addition to River Valley, NAM owns 100% of the Genesis PGE-Cu-Ni 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. NAM 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 Ltd 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 $1.5M NSERC Alliance grant was awarded to a collaboration led by the University of Manitoba (Drs. Fayek and 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 3-year term, due to its delayed start.

New Age Metals Inc. is supporting a successful $180K Mitacs research grant, awarded in 2023, through its $90K 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 post-doctoral phase is ongoing 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.

NAM'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 5 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 completed Phase 1 exploration. Phase 2 has been initiated, and further news will follow. On July 30th, 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.

The Company is actively seeking an option/joint venture partner for our and its road-accessible Genesis PGE-Cu-Ni Project in Alaska and results from our Summer/Fall Program are expected by the end of the year.

On August 6, 2025, New Age Metals announced an additional investment in a 4th critical metal. NAM currently owns approximately 12.79% and holds warrants that, if exercised with today's issued and outstanding shares of MQM, would bring NAM to a 19.05% interest in MetalQuest Mining Inc.

MetalQuest Mining inc. is developing one of North Americas largest iron projects, where approximately $120 million has been spent on the project. For more information, please visit MetalQuestMining.com . High-purity iron 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 contracted AtkinsRealis, an international engineering company, to complete a GAP Analysis on the Lac Otelnuk Project and its 2015 Feasibility Study. Results are expected in Q4 2025.

Management is currently aggressively seeking new mineral acquisition opportunities on an international scale. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production

Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.

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On behalf of the Board of Directors

"Harry Barr"

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services 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 Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

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