ORIGINAL: New Age Metals Inc. Provides Shareholder Update Regarding Upcoming Annual General Meeting and A Summary of Companys Projects and Go Forward Plan

Oct 15, 2025

2025-10-15 08:00 ET – News Release

(via TheNewswire)

October 15 th , 2025 , Vancouver, BC – TheNewswire – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) (“NAM” or “Company”) would like to provide an update to shareholders regarding its upcoming annual general meeting to be held at its field office at 59 Burtch’s Lane, Rockport, ON, on Wednesday November 12, 2025 2:00pm (Eastern Time) (the “Meeting”). It was recently announced that postal service will resume operations this coming week when Canada Post workers will be pivoting from a nationwide strike to a rotating strike. Due to the rotating strike and the uncertainty and instability ahead, the Company’s Notice of Meeting, Information Circular and related proxy materials (the “Meeting Materials’) may not be delivered to shareholders prior to the Meeting in accordance with regulatory requirements. The Company’s meeting is scheduled to be for the following purposes:

To receive the financial statements of the Company for the fiscal year ended April 30, 2025, together with the auditor’s report thereon;
To set the number of Directors at five (5);
To elect Directors for the ensuing year;
To re- appoint Shim Associates LLP, Chartered Accountants of Vancouver, British Columbia, as the Company’s auditors for the ensuing year and to authorize the directors to fix their remuneration;
To transact any other business which may properly come before the Meeting.

Electronic copies of the Meeting Materials will be filed and made accessible under the Company’s SEDAR+ profile at www.sedarplus.ca and will be posted on the Company’s website at www.newagemetals.com/agm-2025/ on October 16, 2025. Shareholders are encouraged to access the Meeting Materials via SEDAR+ and the Company’s website.

Shareholders are not required to be present at the Meeting and can vote their shares in advance of the Meeting. All proxies must be received by Computershare Investor Services Inc. by the proxy cut-off time on Friday November 7, 2025 by 2:00pm (Eastern Time).

If you are a registered shareholder and have not received your package of Meeting Materials, please contact Computershare Shareholder Services at 1-800-564-6253 to obtain your proxy form control number to be able to cast your vote online at www.investorvote.com or vote by telephone by following the instructions on the form of proxy.

If you hold shares through an intermediary, such as a brokerage firm, please contact your broker representative directly for a copy of the proxy form and voting instructions.

Meeting Materials will be delivered electronically to those who have consented to electronic delivery. Shareholders who have not consented to electronic delivery may obtain copies as noted above or by contacting the Company’s office at 1-800-667-1870 or 1-613-659-2773 or by email [email protected] for copies of the Meeting Materials via email at no charge.

We encourage shareholders and interested parties to read the ‘About NAM’ section below as it summarizes the Company’s Projects, current activities and Go -Forward Plan.

About NAM

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of critical green and precious metal projects in North America. The Company has four divisions: a Platinum Group Element division, Gold Division, a Lithium/Rare Element division, an Antimony-Gold Division as well as an investment in MetalQuest Mining’s (TSXV:MQM | OTC:MQMIF) a high purity Lac Otelnuk Iron Ore Project.

On September 25 th , the Company announced a $3,500,000 financing with a lead order from Mr. Eric Sprott for $2,000,000. Due to heightened investor demand, the Company increased the financing to $4,000,000 on September 26 th . On October 10 th , the Company closed the second tranche of the financing with Eric Sprott subscribing to $2,000,000. On October 10 th , Mr Sprott owned 37.4% of the Company on a partially diluted basis and is the largest shareholder. The Company is well financed with no debt.

The PGE 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 PGE-Cu-Ni Project in Alaska.

Click Image To View Full Size

On October 1 st 2025, the Company announced that it has entered into agreement to option the Bonanza Gold Project, located in the Kenora Gold District. The Project consists of 114 mining claims and 1 patented Mining Claim totalling 2,191 hectares or 5,414 acres. The Project has multiple high-grade mineral occurrences with spectacular visible gold at surface along with excellent infrastructure including road access to all areas of the Project along with provincial grid power lines. The Kenora Gold District is known for its high-grade Archean lode-gold deposits, the district has supported mineral exploration and some mining for more than a century. Some of the active majors and mid-tier companies in the District are Agnico Eagle, Kinross, Centerra and New Gold. NAM’s technical team is currently back in the field working on the 2 nd phase of our Fall Program.

Management, with NAM’s Technical Team, are also preparing the Bonanza Gold Projects Go-Forward Plan, Exploration Plan and budgets for the balance of 2025 and for the year 2026 . Further announcements on the Bonanza Gold Project will be forth coming. During the visit, the Company filmed a due diligence site visit video which takes the viewer behind the scenes of a project acquisition. The second part of this corporate video is expected to be released mid day on October 15 th , 2025.

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Photographs of Selected Due Diligence High-Grade Samples Collected by NAM Technical Representatives

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.

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New Age Metals Lithium division project map

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.

On September 9 th 2025, the Company announced the completion of the Summer 2025 Exploration Program on the 100% owned Alaskan PGM-Cu-Ni Genesis Project. The project is road-accessible and situated within 3 km of the all-season Richardson Highway and a high-capacity power line . Known mineralization covers a distance of 9 km across the prospect. The target areas have never been drilled. A Technical Report is available. The Company is actively seeking an option/joint venture partner for our and its road-accessible Genesis PGM-Cu-Ni Project in Alaska.

The Alaskan Gensis Project has ample surface showings of copper, nickel, platinum and palladium and has never been drilled. It is road accessible and less than 45 minutes, using this access trail (red line on the map), from one of Alaska’s most famous lodges, the Tonsina Lodge.

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 recently completed Phase 1 of the Project, Phase 2 has been initiated, and further news will follow. On July 30 th , 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.

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Location of New Age Metals Gold-Antimony Division Projects

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 ore projects, where approximately $120 million has been spent on the project. For more information, please visit MetalQuestMining.com . High-purity iron ore 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 has contracted AtkinsRealis, an international engineering company, to complete a GAP Analysis on the Lac Otelnuk Project and its 2015 Feasibility Study. The Study is expected to be released before the end of October.

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.

The Company is actively seeking an option/joint venture partner for our and its road-accessible Genesis Platinum Group Element-Copper-Nickel Project in Alaska.

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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If you have not done so already, we encourage you to sign up on our website ( www.newagemetals.com ) to receive our updated news.

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.

https://newagemetals.com/