New Age Metals Receives TSX Venture Exchange Approval to Expand Double R Gold Project with Contiguous Dash Lake Acquisition, Northwestern Ontario
(TheNewswire)
May 29, 2026 –
Rockport, Ontario–New Age Metals Inc.
(TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) (“NAM” or the
“Company”) is pleased to announce that further to its news release of May 26, 2026, the Company has
received TSX Venture Exchange approval for the Dash Lake Gold-Copper Project (the
“Project”) whereby Torr Resources (the “Torr”) granted the
Company the right to acquire 100% interest in the Project located
within the Kakagi-Rowan Lake Greenstone Belt in
the Kenora and Rainy River Districts of northwestern Ontario.
Click Image To View Full Size
Figure
1: The claims outlined in red
represent the Dash Lake Project, which will now be part of the RR
Project.The claims outlined
in grey represent New Age Metals’ 100%-owned RR Gold Project, which
adjoins what is now Coeur Mining’s project area. Earlier this year, Coeur completed its
friendly acquisition of New Gold Inc. in a transaction valued at
approximately US$7 billion. New Gold’s former production facility,
now owned by Coeur, is 35 km SW to NAM’s RR Gold Project and is
known as the Rainy River Mine. The Kenora mining district has seen a significant increase in
exploration activity over the past 18 months, supported by strong
infrastructure, a long history of gold exploration and mining, and
renewed interest from major mining companies in the region.
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The acquisition builds upon the Company’s previously
announced consolidation of the Double R Gold Project, which consisted
of 834 mining claims totaling approximately 17,620 hectares. Following
this acquisition, the Company’s consolidated land position has
increased to approximately 838
mining claims totaling ~18,780 hectares (~46,400 acres).
The acquisition is supported by the region’s
established gold mineralization and favourable structural setting.
Recent regional consolidation
activity, including Coeur Mining’s $7 Billion (USD) acquisition of
New Gold Inc. and the Rainy River Mine, reflects
ongoing interest in the Rainy River and Kenora districts 1.The Double R Gold Project is located approximately 35 km
northwest of the Rainy River Mine.
Harry Barr, Chairman and CEO,
commented: “Northwestern Ontario continues to
attract renewed investment and consolidation activity, and we believe
the timing to secure and expand our large and strategic gold-copper
project in the Kenora–Rainy River district is timely.
The addition of the Dash Lake Project materially
strengthens our Double R Project and positions the Company with an
expanded footprint in a prospective gold-copper corridor supported by
strong regional geology, infrastructure, and ongoing exploration
activity. Looking ahead, if the Company is successful in making a new
discovery and establishing a mineral resource, Rainy River could
potentially serve as a regional processing option for our mineralized
material.
Our Company has received interest from larger mining
companies and is following up on that interest.
Our objective is to build value
through disciplined exploration while positioning the Company to
participate in the next phase of regional growth.
The Double R Project is located only
70 km from the newly established Kenora Field Office. New Age has
expanded its gold portfolio to five projects encompassing
approximately 37,000 hectares (91,429 acres) in the Kenora District of
Ontario”
Highlights
Large, contiguous land package consisting of 838 mining
claims totalling ~18,780 hectares in the Rainy River–Kenora gold
districts
Strategic location approximately 35
km northwest of the Rainy River Mine and 17 km south of the Cameron
Gold deposit
Access and infrastructure, including logging roads,
nearby Highway 71, and regional power infrastructure
The Company plans to engage with
local First Nation communities and intends to pursue opportunities for
collaborative and respectful partnerships, consistent with its
commitment to responsible exploration
Underexplored Archean greenstone belt within the
Wabigoon Subprovince, a geological terrane that hosts multiple gold
deposits elsewhere in northwestern Ontario
Prospective geology including mafic to felsic
metavolcanic rocks, intrusive bodies, and regional structural features
interpreted from government airborne geophysical data
Gold grain anomalies identified in
historical Ontario Geological Survey till sampling, with up to 25 gold
grains reported in samples within the Project area
Phased, low-impact exploration approach planned to
prioritize targets for follow-up work and potential drilling
A Strategic Gold Hub
The Kenora
Mining District and nearby areashave historically been underexplored but are emerging as an active exploration and
development region, supported in part
by improved commodity
prices and renewed industry and investor
interest.
The region offers a compelling combination of:
Established mining infrastructure and
highway access
Proximity to power, workforce, and
service centers
Favorable permitting environment and
community relationships
Recent acquisitions and investments within and adjacent
to the district, include:
Accelerating regional
consolidation, highlighted by Coeur Mining’s announced acquisition of
New Gold in a ~US$7 billion transaction2
The Cameron
Gold Project acquisition, led by Frank Giustra’s Fiore Group and First
Mining Gold Corp., in a transaction valued at
approximately CAD $27
million3.
Growing exploration and development
activity by junior, mid-tier, and senior mining companies, reflecting renewed
industry interest in the Kenora and nearby districts
The Company notes growing support for mineral
exploration at the provincial, regional, and municipal levels,
including policies and initiatives intended to encourage responsible
resource development and investment.Mineralization on adjacent or nearby properties is not
necessarily indicative of mineralization on the Company’s
properties.
Click Image To View Full Size
Figure
2: Regional property map
highlighting the Kenora District highlighting New Age Metals recent
acquisitions illustrating proximity to Rainy River Mine and Cameron
Gold Deposit and nearby towns, cities, infrastructure.
Geological Setting & Exploration
Rationale
The Double R Gold Project is located within an
underexplored portion of the Archean Wabigoon Subprovince greenstone
belt, which hosts numerous gold occurrences and deposits elsewhere in
northwestern Ontario. Regional geology and geophysical data,
illustrated in Figures 1 and 2, indicate that the Project area is
underlain by mixed mafic to felsic metavolcanic rocks intruded by
quartz-feldspar porphyry and tonalite bodies. Government airborne
magnetic data further define interpreted structural features
consistent with regional deformation patterns. Variations in rock
competency and lithological contacts within the Project area are
interpreted to be favourable for the development of orogenic-style
gold mineralization.
Despite its location between two established gold
camps, very limited modern systematic exploration has been conducted
over the Project area. Past efforts were sporadic, small-scale, and
largely limited to localized prospecting. Little property-scale
geophysics, geochemistry, or structural interpretation has been
completed across most of the Project.
The combination of prospective host rocks, interpreted
structural features, and historical gold grain anomalies indicate that
the Project is considered prospective for both high-grade vein-style
mineralization and broader intrusion-related gold systems.
Click Image To View Full Size
Figure
3: Regional geological map of
the Double R Gold Project showing the distribution of mafic to felsic
volcanic rocks, intrusive units, and known historical gold occurrences
and Ontario Geological Survey till sample locations within and
adjacent to the Project area. Black circle highlights recent
acquisition.
Ontario Geological Survey (OGS) airborne magnetic data
collected in 2008 highlights folded volcanic sequences, intrusive
bodies, and regional-scale structural features across the Project
area. These features are interpreted to be consistent with geological
environments that host gold mineralization elsewhere in the Wabigoon
Subprovince.
Click Image To View Full Size
Figure
4: Ontario Geological Survey
airborne magnetic (1VD) data covering the Double R Gold Project,
illustrating regional-scale lithological and structural features
interpreted from magnetic contrasts.Modified after Ontario Geological Survey
High Resolution Aeromagnetic – Residual Magnetic Intensity (RMI)
data. Black circle highlights recent acquisition.
Next Steps – 2026 Exploration
Program
The Company is planning a phased and systematic
exploration program designed to evaluate and prioritize targets across
the Project area. The initial phase will focus on compilation and
reinterpretation of available geological, geochemical, and geophysical
data, alongside the collection of regional-scale geochemical samples
and the implementation of selected ground geophysical surveys where
appropriate. Airborne geophysical datasets, LiDAR, and other available
remote sensing information will also be integrated to support
structural interpretation and target generation.
Subject to the results of the initial work, a second
phase will focus on more detailed follow-up activities, including
infill geochemical sampling, targeted geological mapping, and
prospecting to ground-truth priority anomalies and refine exploration
targets. Results from these programs will guide subsequent exploration
planning, including the potential delineation of drill-ready
targets.
Kenora Field Office
The Company has recently leased a Kenora-based field
operations office and core facility to support exploration activities
across northwestern Ontario and eastern Manitoba. The Company hosted a
successful grand opening with over 70 local stakeholders (politicians,
First Nations, shareholders and contractors) in attendance. The
proposed facility would be intended to provide centralized logistical, administrative, and technical support
for the Company’s regional exploration programs, including:
Office space for geological, technical, and field
staff
Secure storage for exploration equipment, samples, and
records
Core handling, logging, and short-term core storage
facilities
Staging and dispatch of field crews and
contractors
Coordination of community engagement, permitting, and
local services
Kenora is strategically located in close proximity to
the Company’s active and planned exploration properties, as well as
to established transportation routes, supply chains, and analytical
laboratories. Establishing a regional operations hub is expected to
improve field efficiency, reduce mobilization times, and enhance
coordination of multi-project exploration activities.
The facility is intended to support exploration
programs only and is not associated with any mineral processing,
production, or development activities.
Click Image To View Full Size
Figure
5: New Age Metals’
Kenora-based field operations office and core facility.
Terms of the
Agreement
To exercise the Option, NAM’s agreement calls for a
series of cash payments and share issuances to Torr, as well as
exploration expenditures on the Project as outlined below. Any share
payments that become issuable under the terms of the agreement will be
based on a 10-day trading average immediately preceding the date of
issuance, subject to a minimum deemed issue price of $0.2325 per
share. NAM has the ability to terminate the agreement any time after
the first year’s commitments have been
completed. There are no finder’s fees payable in connection with
this transaction.
Timing
Cash (CAD)
Shares
Exploration Expenditures (CAD)
Upon receipt of regulatory approval
$15,000
50,000
–
1st anniversary of the Effective Date
$10,000
100,000
$50,000
2nd anniversary of the Effective Date
$15,000
50,000
$100,000
3rd anniversary of the Effective Date
$15,000
50,000
$150,000
4th anniversary of the Effective Date
$20,000
50,000
$200,000
$75,000.00
300,000
$500,000.00
The transaction and any securities issued in connection
with the agreement are subject to TSX Venture Exchange approval and a
four-month plus one day hold period in accordance with applicable
Securities Laws.
Torr will retain a 2.0% net smelter return royalty
(NSR) on the Project. The Company shall have the
right, at any time, to repurchase 1.0% of the NSR for a
one-time payment of $1,000,000, thereby reducing Torr’s NSR to
1.0%.
Qualified
Person
The scientific and technical information contained in
this news release has been reviewed and approved by 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. Mr. Gallik is a geological
consultant to New Age Metals Inc. and is not independent of the
Company within the meaning of NI 43-101.
The QP has reviewed available assessment files,
historical exploration data, including drill logs where available,
geophysical and geochemical datasets, and relevant government
geological information pertaining to the Project. The QP has also
reviewed publicly available technical reports and disclosure relevant
to the property and surrounding area.
The QP has not independently verified all historical
information disclosed in this news release, including data generated
by previous operators. Such information has been used solely for the
purpose of providing an indication of the exploration potential of the
Project. While the QP considers this information to be relevant for
exploration purposes, it should not be relied upon as an estimate of
mineral resources or reserves, and additional work will be required to
verify and validate historical results.
The Mining Investment Event
2026
New Age Metals’ management team will be attending THE
Mining Investment Event 2026 in Québec City, where the Company is
scheduled to participate in more than 20 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.
In addition, on January 21st 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 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 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
Au–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 its 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 and drill targeting for
2026 as it advances this highly prospective critical minerals and gold
asset in Newfoundland. Most recent releases:
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
Project 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 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.
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 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 info@newagemetals.com or
Harry Barr at Hbarr@newagemetals.com or
Farid Mammadov at faridm@newagemetals.com or
call 613 659 2773.
Opt-in List
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 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.
1As
stated here:Coeur Mining,
Inc. (2025). Coeur announces acquisition of New Gold to create a new
all-North American senior precious metals producer. Coeur Mining News
Release.
2As
stated here:Coeur Mining,
Inc. (2025). Coeur announces acquisition of New Gold to create a new
all-North American senior precious metals producer. Coeur Mining News
Release.
3As
stated here: First Mining Gold Corp. (2025, November 20). First Mining
announces new partnership to advance Cameron Gold Project.
Copyright (c) 2026 TheNewswire - All rights reserved.
New Age Metals expands Double R gold project with Dash Lake acquisition | Strikepoint News
