ORIGINAL: New Age Metals Expands Northern Shield PGM-CU-NI And Critical Minerals Project To 32,000 Hectares In Ontario’s Ring Of Fire

Feb 12, 2026

2026-02-12 07:15 ET – News Release

(via TheNewswire)

February 12, 2026 – TheNewswire – Rockport, Ontario– New Age Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) (“NAM” or the “Company”) is pleased to announce the acquisition via staking of the southern extension of its Northern Shield Platinum Group Metals–Copper–Nickel and Critical Minerals Project located in Ontario’s Ring of Fire region. The expansion increases the total project footprint to approximately 32,000 hectares (79,074 acres) . This expansion builds upon NAM’s previously announced acquisition of the Northern Shield Project and materially increases the Company’s land position along interpreted mafic-ultramafic geological trends within the Ring of Fire.

Harry Barr, Chairman and CEO, commented: “To our shareholders, this expansion represents disciplined growth at the right time and in the right place. Our team has done tremendous work identifying and securing additional prospective ground in the southern extension, strengthening our overall position within the Ring of Fire.

With the Province and First Nation communities moving forward on the Ring of Fire supply road and transmission lines, we are seeing meaningful progress toward unlocking one of Canada’s most important critical mineral regions. Infrastructure development is a major step forward for the district, and I believe positioning ourselves ahead of that build-out is strategically important.

I want to recognize the efforts of our technical and corporate teams who continue to execute on our vision: expand intelligently, advance methodically, and build long-term value for our shareholders. We are building a project landbank in a region where both the Federal and Provincial Governments are now working jointly to build a multi-billion-dollar mining infrastructure hub to support future mines in the Ring of Fire.”

Highlights

100% owned, acquisition completed through staking with no option payments or earn-in obligations
Land position expanded to ~32,000 hectares (~79,074 acres) comprising 1,560 claims, consolidating prospective ground within Ontario’s Ring of Fire
The Company intends to proactively engage and consult with local First Nations in accordance with New Age Metals’ established policy of meaningful and ongoing collaboration with Indigenous communities
Southern extension captures additional interpreted bedrock EM conductors prospective for platinum group metals and nickel-copper mineralization
Expanded footprint strengthens control along interpreted intrusive and structural trends associated with magmatic sulphide systems
Building upon an extensive historical exploration database including airborne geophysics, ground EM surveys, mapping, and previous diamond drilling
Systematic data compilation underway to refine targets and prioritize field programs ahead of drill targeting
Ongoing regional consolidation strategy with continued evaluation of additional acquisitions in the immediate area
Strategic addition to New Age Metals’ Platinum Group Metals project pipeline, complementing the Company’s River Valley PGM Project, Genesis PGM–Cu–Ni Project, and recently acquired Northern Shield PGM Project and the Platreef PGM Project (Ontario)
Government momentum continues to strengthen the district, with Ontario targeting 2026 for commencement of the Ring of Fire supply road, supporting long-term regional access and development potential

Northern Shield Project Overview and Southern Extension Highlights

The Company has staked an additional 621 mining claims covering approximately 12,000 hectares (29,653 acres) in the southern extension of the Project. The Northern Shield Project’s landbank now totals approximately 32,000 hectares (79,074 acres) .

The Northern Shield Project represents a large, contiguous land position within the Ring of Fire region of northern Ontario, targeting magmatic sulphide systems prospective for platinum group metals (PGM), nickel, and copper.

The Property is interpreted to cover portions of a layered mafic–ultramafic intrusive complex supported by historical drilling, airborne and ground geophysics, and publicly available Ontario assessment records. The system is considered prospective for reef-style PGM–Ni–Cu sulphide mineralization , as well as vanadium-rich magnetite layers .

The Fishtrap Lake Intrusive Complex is characterized by:

Cyclic anorthosite–gabbro–pyroxenite stratigraphy
Magnetite-rich horizons
Localized sulphide mineralization

These features are consistent with geological environments known globally to host stratiform PGM-bearing systems.

The Northern Shield Project is situated within the James Bay Lowlands region of Ontario , an emerging critical minerals district that includes the Ring of Fire and nearby exploration and development projects operated by groups such as Wyloo Metals (see Figure 1). Ongoing exploration activity and advancing regional infrastructure initiatives underscore the growing strategic importance of this part of northern Ontario.

Click Image To View Full Size

Figure 1. Location map of newly acquired Southern Extension (in Red) of the Northern Shield Project now encompassing a grand total of 32,000 hectares. Also located proximal to MetalQuest Ring of Fire Projects.

Reflecting this broader regional activity, MetalQuest Mining Inc. (“MQM”) announced on December 3, 2025, that it secured the ROF-1 Project and recently announced on January 23, 2026, the Fishhook Polymetallic Project , a critical minerals land package within the Ontario Ring of Fire. New Age Metals currently holds an equity interest in MetalQuest Mining , providing the Company with additional exposure to exploration activity in the Ring of Fire and reinforcing its strategic focus on platinum group metals and critical minerals in Northern Ontario.

Data compilation and geological interpretation will continue across the expanded land package to prioritize targets and optimize exploration planning. The Company intends to advance select targets toward field validation and potential drill testing as part of its phased exploration strategy.

Major Transmission Infrastructure Advancing in the Ring of Fire

The Government of Ontario has declared the 230-kilometre Greenstone Transmission Line a priority project and designated Hydro One to develop and construct it. The line will run from Nipigon Bay to the area of Aroland First Nation , recognized as a key gateway to the Ring of Fire. The project is expected to be completed by 2032 and is designed to unlock an additional 350–700 megawatts of hydroelectric and other power generation capacity in northern Ontario.

The single-circuit 230 kV transmission line is being engineered to support a future second circuit and will connect from the East-West Tie near Nipigon Bay to a new switching station in or near Aroland First Nation. The province has indicated the project is expected to create more than 7,000 jobs , with approximately 93% of project spending retained within Canada , supporting domestic industry and Indigenous participation. Electrical Business Magazine. (2026, February 2). Hydro One designated for priority construction of Ring of Fire transmission line. Electrical Business Magazine.

Figure 2. Powerline Infrastructure in Northwestern Ontario Highlighting the New Ring of Fire Transmission Line Initiative (based on the Government of Ontario release on the Greenstone Transmission Line project)— see Ontario Connecting Ring of Fire with New Transmission Line https://news.ontario.ca/en/release/1006975/ontario-connecting-ring-of-fire-with-new-transmission-line

Hydro One’s President and CEO, David Lebeter, stated: “This line is foundational to building a secure and reliable electricity system in the north – one that supports every community in the region. In the process of building it, we’re also strengthening local economic prosperity by partnering with First Nations and sourcing goods and services from Canadian, Ontario and Indigenous suppliers.”

Additional, regional initiatives include proposed all-season access road development , intended to improve connectivity, reduce exploration costs, and support long-term economic opportunities in collaboration with local First Nations communities. This growing infrastructure and exploration momentum underscores the strategic importance of projects located within and adjacent to the Ring of Fire.

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Figure 3. Prime Minister Mark Carney and Ontario Premier Doug Ford signing an agreement on the Ring of Fire Road. Source: https://ontarioconstructionnews.com/ford-predicts-shovels-in-the-ground-by-june-as-ontario-and-canada-move-forward-on-ring-of-fire

The Premier of Ontario, Mr. Doug Ford was quoted on December 23, 2025, in the Ontario Construction News: “This will create jobs, build a more competitive economy and help unlock the enormous economic opportunity of the Ring of Fire.”

Mr. Ford went on to add “ The agreement is the last one needed to launch construction on the Ring of Fire . He predicts shovels will be in the ground in June 2026, as soon as the ground thaws, three whole years ahead of schedule .”

Qualified Person

Troy Gallik, P.Geo. (Member ID 3550), a Practising Registrant and Qualified Person (“QP”) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewed and approved the scientific and technical information contained in this news release. Mr. Gallik is a geological consultant to New Age Metals Inc. and is not independent of the Company for the purposes of NI 43-101.

The QP has reviewed available assessment files, historical drill logs, geophysical data, government geological data, and publicly available technical reports relevant to the Company’s newly acquired claims. The QP has not completed sufficient work to independently verify all historical information referenced herein, particularly information generated by previous operators. However, the QP considers the historical information to be relevant and reliable for the purposes of identifying and discussing exploration potential.

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 Metals 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 PGM Division includes the 100% owned, multi-million-ounce, 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 PGM-Cu-Ni Project in Alaska. Most recent PGM announcement: https://newagemetals.com/new-age-metals-prepares-its-platinum-group-metals-division-to-launch/ .

On January 21 st 2026, the Company recently expanded its Platinum Group Metals portfolio through the acquisition of the Northern Shield PGM Project in Ontario’s Ring of Fire region, strengthening its exposure to district-scale mafic–ultramafic systems prospective for nickel, copper, and platinum group elements.

On February 11, 2026, the Company also acquired the Platreef PGM Project, a platinum group metals–nickel–copper (PGM–Ni–Cu) exploration property located in northwestern Ontario within the prospective Lac des Iles Igneous Complex. The Complex hosts Canada’s only primary palladium-producing operation, owned and operated by Impala Canada Ltd., a wholly owned subsidiary of Impala Platinum Holdings Limited.

New Age Metals’ Antimony–Gold division is located in Newfoundland and comprises a 20,950-hectare land package across 11 non-contiguous properties. Six of these properties are situated in the St. Alban’s area, along Canstar’s Swanger and Little River mineralized trends. The remaining five properties are strategically positioned along the same regional geological trend as the past-producing Beaver Brook Antimony Mine and are also located near New Found Gold’s Queensway South Gold Project.

Management has completed Phase 1 exploration and has now finished Phase 2 fieldwork. The Phase 2 program successfully delineated multiple gold–antimony (Au–Sb) trends, and the Company is currently planning follow-up exploration while awaiting additional assay results. These results will be used to guide exploration targeting and program planning for 2026 and beyond. Most recent releases: https://newagemetals.com/axiom-exploration-group-initiates-xcite-helicopter-borne-tdem-survey-over-nams-sentinel-antimony-property-newfoundland-nam-monitors-fintech-solutions-to-enhance-market-transparency/

https://newagemetals.com/new-age-metals-samples-high-grade-antimony-gold-silver-and-lead-at-st-albans-newfoundland-and-starts-phase-2-exploration/

The Bonanza Ridge Gold and Critical Metals Project has been significantly expanded with the option agreements for the Lavender Lake and South Gibi Lake properties, adding a combined ~5,216 hectares (~12,889 acres) of prospective ground in the Kenora Gold District of northwestern Ontario. These properties, located about 25 km southeast of Kenora, are strategically positioned along a favourable structural corridor adjacent to NAM’s flagship Bonanza Gold Property, and host known gold and copper occurrences with minimal modern exploration to date. The consolidated portfolio now comprises approximately 8,500 hectares of contiguous land within an emerging gold and critical metals jurisdiction, providing substantial opportunities for follow-up field work, structural modeling, target generation, and future drill campaigns. Recent announcement: https://newagemetals.com/new-age-metals-expands-bonanza-ridge-gold-andcritical-metals-project-strategic-acquisition-oflavender-lake-south-gibi-lake-properties/ .

The Company is establishing a Kenora, Ontario based field operations hub to support exploration activities across Northwestern Ontario and Eastern Manitoba. The proposed facility would provide centralized logistical, technical, and administrative support for regional exploration programs and is expected to improve field efficiency and coordination.

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. Management is currently working on providing Mineral Resources, a go forward exploration program for spring, summer, and fall 2026.

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. The 2025 work included core sampling and field visits. The project will likely extend beyond the original 3-year term, due to its delayed start. The parties involved in this grant plan to meet over the next 60 days and will announce our plans for 2026 and beyond.

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. MSc and post-doctoral research programs have recently been completed, and the Company is reviewing the results with the academic institutions to assess how the findings may be incorporated into future exploration programs. This collaboration provides access to top-tier scientific expertise and equipment, significantly reducing analysis costs and adding long-term value to the project.

The Company is actively seeking an option/joint venture partner for our and its road-accessible Genesis PGM-Cu-Ni Project in Alaska and results from our Summer/Fall Program are expected by the end of the year. Recent announcement: https://newagemetals.com/new-age-metals-completes-summer-2025-exploration-program-on-the-genesis-pgm-cu-ni-project-alaska/ .

On August 6, 2025, New Age Metals announced an additional investment in a 4th critical metal. NAM currently owns approximately 9.63% and holds warrants that, if exercised with today’s issued and outstanding shares of MQM, would bring NAM to a 14.6% 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 Q1 2026.

MetalQuest Mining Inc. (“MQM”) has expanded its presence in the Ontario Ring of Fire through the acquisition of both the ROF-1 Project and the recently announced Fishhook Polymetallic Project. The Fishhook Project further strengthens MetalQuest’s regional footprint, targeting polymetallic mineralization prospective for base and critical metals.

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 [email protected] or Harry Barr at [email protected] or Farid Mammadov at [email protected] 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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