SAGA Metals and Temas Resources Successfully Complete Metallurgical Scoping Test Achieving Vanadium Recoveries of 97.4% and Titanium Recoveries up to 90.8% and Announce a Pathway Towards a Pilot Plant for Radar Critical Minerals Project
SAGA Metals and Temas Resources Successfully
Complete Metallurgical Scoping Test Achieving
Vanadium Recoveries of 97.4% and Titanium Recoveries
up to 90.8% and Announce a Pathway Towards a Pilot
Plant for Radar Critical Minerals Project
VANCOUVER, B.C. – July 30, 2026 – SAGA Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA)
(OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral
discoveries, is pleased to report the successful completion of an independent Stage 1 metallurgical
validation program utilizing Temas Resources Corp. ’s (“Temas”) proprietary Regenerative Chloride
Leach ("RCL") Platform Technology on representative samples from SAGA's titanium-vanadium-iron
mineralization at the 100%-owned Radar Critical Minerals Project near Cartwright, Labrador,
Canada.
Combined with the consistent and significant results from S AGA’s mineral resource estimate drill
program, the metallurgical recoveries further strengthen the commercial potential of its flagship
project.
Stage 1 Bench Scale Scoping Highlights
• Top recoveries during two-stage RCL testing include:
o Titanium recoveries of up to 90.8%
o Vanadium recoveries of up to 97.4%
o Iron recoveries of up to 91.5%
• RCL testing demonstrated excellent extraction of critical minerals from multiple feed types.
• The validation program successfully met all Stage 1 objectives and supports a positive Gate
1 decision to advance into the Detailed Bench Optimization Program (Stage 2).
• The ilmenite concentrate produced the strongest titanium extraction, achieving 90.8%
recovery, while iron extraction remained consistently above 86% across three representative
samples and vanadium extraction exceeded 94% in every test.
• Stage 2 optimization will focus on further improving recoveries while advancing process
design toward pilot -scale demonstration. Upon completion, SAGA will progress to a
demonstration plant and outline the path to commercial deployment.
• RCL process produces high- purity end products capable of entering downstream
applications in titanium, vanadium and iron industries.
Technical Summary
Temas was engaged to conduct a bench scale validation program to evaluate the application of the
Temas RCL mixed-chloride leaching technology for the recovery of valuable metals from materials
supplied by SAGA’s Radar titanium-vanadium-iron project.
The Stage 1 Validation Program evaluated three representative feed materials supplied by Saga,
including Run -of-Mine (ROM) Massive Oxide material, Vanadium- Titanium Magnetite concentrate
and ilmenite concentrate. The program included feed characterization, standard protocols for RCL
Validation, a primary and secondary (two -stage) leaching test, solution and residue analyses,
material balance calculations, and recovery determinations. The testing program successfully
demonstrated increasing titanium recoveries as feed quality improved while maintaining
consistently high recoveries of vanadium and iron throughout the evaluation. The ilmenite
concentrate achieved the highest titanium extraction at 90.8%, while vanadium recoveries
reached 97.4% and iron recoveries reached 91.5% under the test conditions evaluated.
Table 1: Stage-Gate Development Pathway – Temas RCL Process and SAGA’s Radar Project. ROM refers to
run-of-mine or an ore composite sample. VTM refers to vanadiferous titanomagnetite.
As previously reported on June 18, 2026, SAGA’s Hawkeye D avis tube analytical interpretation
indicated that the non-magnetic fraction (i.e. ilmenite) commonly contains approximately 86-92% of
the head TiO2.
The independent technical review concluded that all Stage 1 objectives had been successfully
achieved and recommended advancement into the Detailed Bench Optimization Program.
Mike Stier, CEO & Director of SAGA Metals, commented:
“Completing the Stage 1 bench-scale scoping test with Temas’ proprietary RCL technology marks an
incredible milestone for S AGA and the future of the Radar Project. Achieving these recoverie s,
particularly the strong titanium, iron, and vanadium extractions at this early stage, without the benefit
of detailed mineralogical analysis or process optimization, is significant.
These results provide a clear and encouraging path forward as we advance the stages of
development, with the goal of further maximizing recoveries and unlocking the full potential of the
Radar titanium-vanadium-iron project.
Unlike conventional processing routes that typically produce mid-stream saleable products, the RCL
technology positions us to pursue the production of final downstream products for direct market
access directly on site. With the Radar Project located less than 20 km from a deep -water port, this
represents a compelling opportunity to develop a more integrated, value -added critical minerals
operation in Labrador. ”
Next Steps
Feed Material Combined Ti Extraction Combined V Extraction Combined Fe Extraction
ROM Massive Oxide 78.10% 97.40% 91.50%
Concentrated VTM / Magnetite 30.30% 97.40% 91.40%
Ilmenite Concentrate 90.80% 97.40% 86.70%
Following the successful completion of the Stage 1 Validation Program, Temas and S AGA intend to
advance to the Detailed Bench Optimization Program ("Stage 2"), which will focus on optimizing
process conditions to further improve recoveries, maximize reagent efficiency and generate the
engineering data required for future scale -up. The Stag e 2 program is expected to include
optimization of leach chemistry, reagent regeneration, solid-liquid separation, impurity management
and downstream metal recovery while continuing to evaluate the commercial applicability of the RCL
Platform for S AGA's titanium -vanadium mineralization at the Radar Project (Cartwright,
Newfoundland and Labrador).
Upon completion of Stage 2, the parties anticipate evaluating the potential advancement of the
process through pilot and demonstration plant programs. These programs are expected to provide
additional engineering data to support future commercial design and economic assessment of the
RCL Platform on SAGA's Radar Project.
Table 2: Stage-Gate Development Pathway – Temas RCL Process and SAGA’s Radar Project
Tim Fernback, President & CEO of Temas, commented:
"Today's announcement represents one of the most important commercial milestones achieved by
Temas since acquiring the RCL Platform Technology. While we have consistently demonstrated the
capabilities of the RCL process on our own mineral assets, successfully validating the technology on
third-party mineralization is another significant step toward building a global critical minerals
processing business.
These outstanding extraction results on SAGA’s material from the Radar project demonstrate the
versatility of our proprietary technology while reinforcing our confidence that RCL can provide mining
companies with a lower -cost, environmentally responsible alternative for processing complex
critical mineral deposits. Importantly, the s uccessful completion of SAGA’s Stage 1 validation
program and recommendation to advance into Stage 2 optimization moves this opportunity another
step closer to potential commercial deployment and supports our strategy of creating long -term
shareholder value through technology licensing, strategic processing part nerships and future
commercial agreements. "
Regenerative Chloride Leach (RCL) Technology
Temas has developed the Regenerative Chloride Leach (RCL) process to produce high- purity TiO2
directly from titanium -bearing concentrates, with the bulk of prior validation work conducted on
ilmenite and titanomagnetite-dominant feedstocks.
The process consists of an atmospheric chloride leach followed by solvent extraction of Ti, V and Fe
successively, producing a high-purity Ti-bearing strip solution that can be converted to TiO2 products
for pigment, pharmaceutical, and food applications or further processed into titanium alloy. As well
as a high-purity V2O5 product suitable for large-scale battery storage or steel production as well as
a high-purity Fe2O3 product suitable for pigment or iron production can also be recovered. The RCL
process employs commercially proven unit operations and is flexible enough to be applied to a wide
range of feedstocks.
Benefits the ORF - RCL Technology
The RCL platform technology involves the hydrometallurgical element extraction from concentrates,
whole ores, slags and tailings to enhance recovery of critical metals, battery metals, Platinum Group
Minerals (“PGMs”), precious and base metals and Rare Earth Element (“REE”) recovery at materially
higher through- yields and lower capital a nd operating costs than many of the conventional
approaches that are in use traditionally. This novel RCL technology is ideally suited to treat
increasingly complex ores in an environmentally sensitive manner.
Validated Cost Reduction: A significant cost reduction of over 65 %1,2 is validated for TiO 2
processing using the RCL platform technology (e.g., reagent recycling, potentially lower energy use,
optimized recovery etc.). These fundamental process efficiencies are expected to translate into
economic advantages when applying the platform to SAGA’s titanium -vanadium-iron
mineralization.
Environmental Performance: The closed-loop design and high reagent recycling rates are core to
the RCL platform, irrespective of the target mineral. Over 69% lower operating costs compared to
conventional processing due to its core features operating at near ambient temperatures 2. This
means the reduced environmental footprint and enhanced environmental, social and governance
(ESG) profile are benefits that extend to ores and minerals previously noted, not just TiO2.
The mining industry is entering a period of significant transformation, driven by growing demand for
critical minerals, increasing environmental performance expectations and the need for secure
domestic supply chains in North America and allied jurisdictions. Processing technologies capable
of improving recoveries, reducing waste streams and lowering environmental impacts are expected
to become increasingly valuable as mining companies seek to maximize the economic potential of
these strategic ore bodies.
About the Radar Critical Mineral Property in Labrador
The Radar Property comprises 690 mineral claims across 9 mineral licenses, totalling approximately
24,175 hectares in southeastern Labrador, located approximately 10 km south of Cartwright. The
Property entirely encloses the Dykes River Intrusive Complex ( ~160 km² at the surface) and is
accessible year-round via paved Route 510, a Cartwright logging road, and a SAGA -constructed
access trail. Infrastructure advantages include the deep -water port at Cartwright, the Cartwright
Airport (YRF), and proximity to regional hydroelectric power from Muskrat Falls and Churchill Falls.
Diamond drilling, geophysics, trenching and g eological mapping have confirmed a 29 km 2 oxide
corridor encompassing the Trapper, Falcon and Hawkeye Zones. VTM mineralization at Radar is
comparable to that of global Fe-Ti-V systems such as Panzhihua (China) and Bushveld (South Africa).
The current drill program, which has completed over 80 holes to date, is expected to wrap up within
the next couple of weeks. Combined with bench-scale extraction test results, this work will support
completion of an initial Maiden Mineral Resource Estimate by Q4 2026, including sufficient data to
release a Preliminary Economic Assessment in Q1 2027.
Figure 1: The Radar Property with the Dias QMAGT vertical gradient (Bzz) anomaly footprint shown in red
(high-amplitude pixels only). The QMAGT-imaged central oxide-layering corridor validated over a 29 km2 area,
encompassing the Trapper Zone, Hawkeye Zone, and the new Falcon Zone, with additional targets highlighted
to the west and north. The Property is well serviced by road access and is conveniently located near the town
of Cartwright, Labrador.
Key Project Highlights
• Confirmed mineralization in 78 out of 78 drill holes completed and observed in two primary
zones to date.
• Analytical results to date include numerous oxide-rich intercepts, including:
Table 3: Top 15 intervals from the 2025 & 2026 drilling programs at the Trapper Zone.
• Infrastructure including road access, deep -water port, nearby hydro -electric power and
regional airport.
• Confirmed a 29.0 km2 central oxide corridor that encompasses the Trapper, Falcon and
Hawkeye Zones, demonstrating district-scale potential.
• Consistent grades and thicknesses with semi-massive to massive oxide reporting up to
72.33% Fe2O3,13.3% TiO2, and 0.66% V2O5.
• Petrographic analysis confirms titanomagnetite mineralization is advantageous for
simplified metallurgical processing.
• A total of 18,641 m has been completed and reported to date for the MRE drill program.
Sources:
1. These metallurgical test results and cost -reduction data were first reported in the Company’s Canadian market
announcement dated 13 April 2021, titled “Temas Resources Acquires 50 % of Green Mineral Process Developer
ORF Technologies Inc.”
2. The cost-reduction figure is supported by independent evaluation conducted by the Natural Resources Research
Institute (University of Minnesota, 2017) and subsequent pilot -scale validation by ORF Technologies Inc., as
detailed in Temas Resources news releases of 2021 and 2022.
Qualified Person
DDH FROM TO L ength True Thickness Fe2O3 TiO2 V205
ID m m m m % % %
R-0009 94.0 181.2 87. 2 84.4 50.67 10.15 0.339
R-0008 170.0 237.6 68.3 66. 2 46.15 9.21 0.311
R-0046 20.0 74.0 54. 0 43.7 58.33 8.78 0.415
R-0040 84.9 130.0 45.1 31. 9 51.20 7.94 0.340
R-0010 1.5 137.0 135. 5 121.7 50.03 7.87 0.352
R-0039 97.0 149.1 52.1 50. 4 58.15 7.68 0.459
R-0051 137.1 169.0 31.9 20. 8 53.07 7.68 0.384
R-0017 73.0 140.6 67. 6 54.9 55.13 7.37 0.448
R-0055 70.1 136.2 66.1 38. 6 47.65 7.36 0.317
R-0045 104.0 144.0 40. 0 31.1 53.69 7.32 0.441
R-0033 97.0 153.0 56.0 43.1 48.03 7.25 0.304
R-0050 116.0 169.0 53.0 42.9 49.61 7.24 0.401
R-0052 87.0 153.0 66.0 54.6 49.63 7.24 0.335
R-0043 28.4 68.2 39.8 30.4 47.93 7.24 0.307
R-0016 44.0 94.6 50.6 47.1 52.05 7.21 0.375
Dr. A. Miller , P . Geo. (PEGNL), is an Independent Qualified Person as defined under National
Instrument 43-101 and has reviewed and approved the technical information disclosed in this news
release.
About SAGA Metals Corp.
SAGA Metals Corp. is a North American mining company focused on the exploration and discovery
of a diversified suite of critical minerals that support the North American transition to supply security.
The 100% owned Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes
River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to
date, includin g 20,850 m of drilling in the Hawkeye and Trapper zones , ha s confirmed a large,
mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite
mineralization with strong grades of titanium and vanadium.
The 100% owned Wolverine Heavy Rare Earth Element Project in Labrador, is a near-surface REE
system hosted within a peralkaline caldera complex that shares strong geological similarities with
the Tanbreez and Strange Lake deposits. The project features consistent mineralization, with zones
spanning 26 km 2, including drill assays up to 2.03% TREO with approximately 28% HREO content,
and sample assays up to 21.6% TREO.
The 100% owned Double Mer Uranium Project covers 25,600 hectares and features uranium
radiometrics that highlight an 18 km east-west trend, with a confirmed 14 km section producing
samples as high as 0.428% U3O8. (2024 Double Mer Technical Report).
Additionally, SAGA owns the Legacy Lithium Pro ject in Quebec's Eeyou Istchee James Bay region.
This project spans 72,701 hectares and has geological attributes similar to nearby terrains currently
being explored by Rio Tinto, Li-FT Power, SOQUEM, and Loyal Metals.
With a portfolio spanning key commodities critical to the clean energy future, SAGA is strategically
positioned to play an essential role in securing critical minerals.
About Temas Resources Corp.
Temas Resources Corp. (ASX: TIO | CSE: TMAS | OTCQB: TMASF | FSE: 26P0) is advancing the
commercialization of its proprietary Regenerative Chloride Leach ("RCL") Platform Technology while
developing a portfolio of critical mineral assets in North America.
The Company's RCL Platform is designed to recover titanium, vanadium, iron and other critical
minerals using a regenerative mixed chloride leaching process intended to improve recoveries,
reduce reagent consumption and provide an environmentally responsible alternative to conventional
extraction technologies.
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact:
Rob Guzman, Investor Relations
SAGA Metals Corp.
Tel: +1 (844) 724-2638
Email: [email protected]
www.sagametals.com
Neither the TSX Venture Exchange nor its Regulation Service 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 Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities
laws that are not historical facts. Forward-looking statements are often identified by terms such as
“will” , “may” , “should” , “anticipates” , “expects” , “believes” , and similar expressions or the negative
of these words or other comparable terminology. All statements other than statements of historical
fact, included in this release are forward-looking statements that involve risks and uncertainties. In
particular, this news release contains forward -looking information pertaining to the Company’s
Radar Project and its involvement with Temas Resources’ RCL Technology . There can be no
assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company’s expectations include, but are not limited to,
changes in the state of equity and debt markets, fluctuations in commodity prices, delays in
obtaining required regulatory or governmental approvals, environmental risks, limitations on
insurance coverage, inherent risks and uncertainties involved in the mineral exploration and
development industry, particularly given the early -stage nature of the Company’s assets, and the
risks detailed in the Company’s continuous disclosure filings with securities regulations from time to
time, available under its SEDAR+ profile at www. sedarplus.ca. The reader is cautioned that
assumptions used in the preparation of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a
result of numerous known and unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Company. The reader is cautioned not to place undue reliance on any
forward-looking information. Such information, although considered reasonable by management at
the time of preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. This cautionary statement expressly qualifies forward-looking statements contained in
this news release. The forward-looking statements contained in this news release are made as of the
date of this news release, and the Company will update or revise publicly any of the included forward-
looking statements only as expressly required by applicable law.