New Age Metals Expands PGM Portfolio with Gravel Ridge Acquisition

Rockport, Ontario — April 16, 2026 — Leads & Copy —

New Age Metals Inc. has secured an option agreement to acquire 100% interest in the Gravel Ridge PGM Property, near the Lac des Îles Mine in Northwestern Ontario.

The acquisition expands the company’s Platreef PGM Project and consolidates its platinum group metals (PGM) projects in the Thunder Bay Mining Division, adding approximately 740 hectares to a total of about 17,630 hectares in Northwestern Ontario.

The Gravel Ridge PGM Property is situated near the Lac des Iles Mine, Canada’s only primary palladium-producing operation, owned and operated by Impala Canada Ltd., a subsidiary of Impala Platinum Holdings Limited.

New Age Metals intends to consult with local First Nations, aligning with its policy of collaboration with Indigenous communities. The project benefits from road access and proximity to Thunder Bay, a hub for mining services, workforce, transportation, and supply chains.

The geological setting is interpreted as prospective for intrusion-hosted PGM–Ni–Cu mineralization, supported by rift-related mafic–ultramafic intrusive units and regional exploration data. Magnetite-bearing gabbroic and ultramafic intrusive phases have been identified across the property, with magnetic anomalies and sulphide-bearing zones noted in historical exploration.

The property includes multiple untested intrusive and geophysical targets. This acquisition complements New Age Metals’ River Valley Project (Ontario) and its broader PGM portfolio, including Northern Shield (Ring of Fire, Ontario), Platreef (Ontario) and Genesis (Alaska).

The Gravel Ridge PGM Property is part of the Lac des Îles intrusive complex, a magmatic PGM–Ni–Cu geological environment. This acquisition complements the Company’s existing regional portfolio, including the Escape East Project, which is located adjacent to Clean Air Metals Inc.’s Thunder Bay North Project.

According to the company, this strategic addition enhances New Age Metals’ land position within a PGM district with infrastructure, near the Lac des Îles Mine.

Platinum group metals are recognized as critical minerals by the Government of Canada for their use in emissions control technologies, clean energy systems, and industrial applications. New Age Metals’ Projects align with Canada’s Critical Minerals Strategy, which supports domestic supply chains and resource development.

Harry Barr, Chairman and CEO, stated that the acquisition represents a strategic addition to New Age Metals’ expanding PGM portfolio, located within a mining district with infrastructure and geological setting.

Under the agreement with Gravel Ridge Resources Ltd. (50%) and 1544230 Ontario Inc. (50%), New Age Metals can acquire 100% of the Gravel Ridge PGM Property by making cash and share payments. The Property consists of 37 Ontario Mining Claim Cells located near the Lac des Îles Mine, ~80 km northwest of Thunder Bay.

The terms of the Agreement include the following cash and share payments:

Upon receipt of regulatory approval: $5,000 CAD and $15,000 in shares

First anniversary: $5,000 CAD and $20,000 in shares

Second anniversary: $7,500 CAD and $25,000 in shares

Third anniversary: $0 CAD and $35,000 in shares

The share consideration will be calculated based on the 10-day average trading price of New Age Metals’ common shares on the TSX Venture Exchange, with a minimum deemed issue price of $0.255 per share.

Upon completion of the payments, New Age Metals will have earned a 100% interest in the Property. The Optionors will retain a 1.5% Net Smelter Royalty, which the Company can repurchase 0.5% for $500,000 in cash.

All share issuances are subject to TSX Venture Exchange approval.

The scientific and technical information has been reviewed and approved by Troy Gallik, P.Geo.

New Age Metals is focused on the discovery, exploration, and development of critical green metal projects in North America, with divisions for Platinum Group Element, Lithium/Rare Metals, Antimony-Gold, and an investment in MetalQuest Mining’s Lac Otelnuk Iron Project.

Source: New Age Metals