New Age Metals to Regain Full Control of Southeastern Manitoba Lithium-Cesium-Tantalum Portfolio
New Age Metals Inc. New Age Metals Inc. TSXV: NAM / OTCQB NMTLF
Registered Office Field Office [email protected]
101-2148 W 38th Avenue 59 Burtch's Lane www.newagemetals.com
Vancouver, BC V6M 1R9 Rockport, ON K0E 1V0
+1.604.685.1870 +1.613.659.2773
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New Age Metals to Regain Full Control of Southeastern Manitoba
Lithium-Cesium-Tantalum Portfolio
Vancouver BC – June 3, 2026 – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J)
(“NAM” or the “Company”) announces that the Company and its wholly owned subsidiary, Lithium
Canada Development Inc. (“LCD”), have simultaneously entered into a termination agreement (the “TA”)
and royalty deed agreement (the “RA”), (collectively the “Agreements”) dated May 27, 2026 with Lithium
Mineral Resources Pty Ltd, a wholly owned subsidiary of Mineral Resources Limited (ASX:MIN)
(“MinRes”), on the Company’s Lithium and Rare Metals Project lo cated in Manitoba, Canada (the
“Tenements”).
The Project was previously subject to a farm -in and joint venture agreement (“FJVA”) between the
Company, LCD and MinRes, dated August 29, 2022, as amended.
Under the terms of the FJVA:
• MinRes had the right to earn an initial 51% participating interest in the tenements and associated
Project assets.
• To earn this initial interest, MinRes was required to complete CAD$4,000,000 in expenditures
within 56 months of the effective date of the FJVA.
• The initial farm-in obligation expired on May 27, 2026.
• During the term of the agreement, MinRes made a significant capital investment in the Project
through various exploration activities, including:
o District consolidation through staking and acquisitions;
o Geological mapping, prospecting, and systematic geochemical surveys;
o Geophysical surveys;
o Diamond drilling;
o Construction of a core storage facility;
o Assaying and laboratory analysis.
• In recognition of MinRes’ significant investment and work completed on the Project, NAM has
agreed to grant MinRes a 2% revenue royalty on the Project.
• In turn, MinRes has agreed to pay NAM CAD$135,426, representing all outstanding invoices and
financial obligations between the parties under the FJVA as of the date of the termination
agreement.
Under the terms of the TA, MinRes has agreed to relinquish all of its rights and interest under the FJVA
and will no longer retain any earn -in or joint venture rights in respect of the Tenements. All rights and
ownership to the Tenements will revert back t o NAM and it will own 100% interest in the Tenements,
subject to the 2% revenue royalty to be retained by MinRes.
New Age Metals Inc. New Age Metals Inc. TSXV: NAM / OTCQB NMTLF
Registered Office Field Office [email protected]
101-2148 W 38th Avenue 59 Burtch's Lane www.newagemetals.com
Vancouver, BC V6M 1R9 Rockport, ON K0E 1V0
+1.604.685.1870 +1.613.659.2773
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Under the terms of the RA, the Company will retain the right to repurchase 1.0% of the revenue royalty at
any time for a period of four years from the effective date of the RA upon payment to MinRes of
CAD$1,500,000.
In consideration for MinRes agreeing to relinquish its Farm-In Interests and all other rights under the FJVA,
and under the terms of the RA, the Company agreed to grant MinRes a 2% revenue royalty over the
Tenements pertaining to lithium, cesium and tantal um, and any ores extracted and recovered from the
Tenements in which lithium, cesium or tantalum is a principal and/or payable element.
Harry Barr, CEO and Director of New Age Metals, stated “We would like to sincerely thank M inRes
and their technical and financial teams for their contributions and partnership during the term of our
agreement.
As New Age Metals moves forward with 100% ownership of the Manitoba Lithium and Rare Metals
Project, we remain focused on advancing the many drill -ready targets identified across the Project, while
continuing to develop the next generation of exploration targets through systematic fieldwork and technical
review Our technical team believes the Project continues to demonstrate significant potential, particularly
in light of strengthening lithium, cesium, and tantalum prices and the growing global focus on critical metal
supply security. With full ownership restored, the Company will have greater flexibility to advance
exploration and development activities in a manner that supports long-term shareholder value.
New Age Metals also remains committed to working collaboratively with Sagkeeng First Nation under its
long-term exploration agreement as the Company advances the Project.”
The Mining Investment Event 2026
New Age Metals’ management team is currently attending THE Mining Investment Event 2026 in Québec
City, where the Company is scheduled to participate in more than 2 0 meetings with potential investors,
major and mid -tier mining companies, First Nations partners, government organizations, and other key
industry stakeholders. Management looks forward to a productive conference and the opportunity to further
advance discussions around the Company’s growing portfolio of precious and critical metals projects.
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.
New Age Metals Inc. New Age Metals Inc. TSXV: NAM / OTCQB NMTLF
Registered Office Field Office [email protected]
101-2148 W 38th Avenue 59 Burtch's Lane www.newagemetals.com
Vancouver, BC V6M 1R9 Rockport, ON K0E 1V0
+1.604.685.1870 +1.613.659.2773
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In addition to River Valley, NAM owns 100% of the Genesis PGM -Cu-Ni Project in Alaska. Most recent
PGM announcement s: https://newagemetals.com/new-age-metals-prepares-its-platinum-group-metals-
division-to-launch/ and https://newagemetals.com/new-age-metals-options-genesis-project/.
In addition, 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 26, 2026, the Company also acquired the Platreef PGM and Escape East PGM Projects, both
platinum group metals –nickel–copper (PGM –Ni–Cu) exploration properties located in northwestern
Ontario within and nearby the prospective Lac des Iles Igneou s 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 focused on advancing a district -scale land package in
Newfoundland comprising 20,950 hectares across 11 non -contiguous properties. Six of these
properties are located in the St. Alban’s area along the Swanger’s Cove and Little River mineralized trends,
while the remaining five are strategically positioned along the same regional geological corridor as the past-
producing Beaver Brook Antimony Mine and near New Found Gold’s Queensway South Gold Project.
The Company recently completed its Phase 2 exploration program at the St. Alban’s properties, which
significantly advanced the project through the identification of high -grade, structurally controlled gold –
antimony mineralization along an emerging ~16 km A u–Sb trend. Highlights from Phase 2 include grab
samples returning up to 51.9% antimony and 46.2 g/t gold at the Antimony Ridge property, confirming the
strength and scale of this developing mineralized system. In response to these results, NAM expanded it s
land position by staking an additional 40 claims (~1,000 hectares), including the Pardy Head antimony
occurrence, and has received approvals for trenching in preparation for the next phase of exploration. The
Company is now planning follow -up trenching a nd drill targeting for 2026 as it advances this highly
prospective critical minerals and gold asset in Newfoundland. Most recent releases:
https://newagemetals.com/new-age-metals-reports-up-to-51-9-antimony-and-46-2-g-t-gold-from-phase-2-
exploration-at-st-albans-newfoundland
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
New Age Metals has established a growing Gold and Critical Metals Division in the Kenora Gold District
of northwestern Ontario, highlighted by its 100% -owned Double R Gold Project and the Bonanza Ridge
Gold and Critical Metals Project. The Bonanza Ridge Pr oject has been significantly expanded through
option agreements for the Lavender Lake and South Gibi Lake properties, adding a combined
approximately 5,216 hectares, or 12,889 acres, of prospective ground located about 25 km southeast of
Kenora. Together, these properties are strategically positioned along a favourable structural corridor
adjacent to NAM’s flagship Bonanza Gold Property and host known gold and copper occurrences with
New Age Metals Inc. New Age Metals Inc. TSXV: NAM / OTCQB NMTLF
Registered Office Field Office [email protected]
101-2148 W 38th Avenue 59 Burtch's Lane www.newagemetals.com
Vancouver, BC V6M 1R9 Rockport, ON K0E 1V0
+1.604.685.1870 +1.613.659.2773
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limited modern exploration completed to date. The Company’s consolidated Kenora -area portfolio now
includes the Double R Gold Project and the expanded Bonanza Ridge package, providing NAM with a
meaningful land position in an emerging gold and critical metals jurisdiction with substantial opportunities
for follow-up field work, structural modeling, target generation, and future drill campaigns.
The Company has established 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 metals such as
tantalum, rubidium, and cesium.
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.
The Company has optioned its road -accessible Genesis PGM-Cu-Ni Project in Alaska subject to a
3% Net Smelter Return (NSR) Royalty.
On August 6, 2025, New Age Metals announced an additional investment in a 4th critical metal. NAM
currently owns approximately 14.39% of MetalQuest Mining (TSXV:MQM), which has ownership of the
development stage Lac Otelnuk Iron Project, located in the Labrador Trough, Quebec.
MetalQuest Mining inc. is developing one of North America’s 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 th e
Lac Otelnuk Project and its 2015 Feasibility Study.
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.
New Age Metals Inc. New Age Metals Inc. TSXV: NAM / OTCQB NMTLF
Registered Office Field Office [email protected]
101-2148 W 38th Avenue 59 Burtch's Lane www.newagemetals.com
Vancouver, BC V6M 1R9 Rockport, ON K0E 1V0
+1.604.685.1870 +1.613.659.2773
Page5
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
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On behalf of the Board of Directors
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 fro m 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.