Option Agreement Entered On Project Southeast Of Kenora

ONTARIO – New Age Metals Inc. has entered into an option agreement, after completing its due diligence, with arms-length parties – Kenora Mining District Prospectors. The Project consists of 114 mining claims and 1 patented Mining Claim totalling 2,191 hectares or 5,414 acres. The Project is located ~25 km southeast of Kenora in northwestern Ontario. The Company has the option to acquire a 100% of the Project subject to a 2% royalty, which the Company has a option to buy down the royalty to 1% for $1 million.
This is a multiple high-grade mineral occurrences with spectacular visible gold at surface. Excellent infrastructure, including road access to all areas to the Project and provincial grid power lines. Location 25 km southeast of City of Kenora, a major northwestern Ontario economic hub with a population of ~14,800. Select due diligence surface grab sample assays include 1.1 g/t Au, 3.7 g/t Au, 8.9 g/t Au, 13.2 g/t Au, 22.2 g/t Au, 31.9 g/t Au and up to 127 g/t Au from five prospects on the Project. Lack of modern-day exploration. Drill-ready with 3-year permits in place.  
Chairman and CEO, Harry Barr, said, “We began our search for new gold assets in early 2024, leading to the establishment of our Gold-Antimony Division in Newfoundland in early 2025. Since then, our technical and management teams have been systematically reviewing projects on an international scale. Always more comfortable with North American assets, we believe the Bonanza Gold Project and parts of the Kenora Mining District have been under-explored, under-appreciated, and underfunded in recent years. This new acquisition adds to our diversified mineral portfolio, and we believe it is a significant gold exploration project for the Company. This additional gold Project will allow our shareholders more exposure to what we believe is one of most significant  gold rallies in recent history. Gold is not a new metal for the New Age Metals management team and board of directors; in fact, we collectively have over 150 years experience in the gold industry.
From the onset, our corporate objective has been to acquire and develop critical metal projects. Today we are a well financed, multi-asset company that is aggressively expanding its project portfolio across gold, antimony, lithium, and platinum group metals. In my opinion, our flagship asset is still the River Valley Platinum Group Metal Project, in Sudbury, Ontario and both platinum and palladium have enjoyed major price increases in the last 3 months.”