New Age Metals Reports Results of 2026 3D Induced Polarization Survey at the Mustang Zone, River Valley PGM Project, Ontario
(TheNewswire)
Rockport, Ontario – TheNewswire – September 1, 2026 – New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF; FSE: P7J.F) ("New Age Metals" or the "Company") is pleased to report the results of its 2026 three-dimensional resistivity and induced polarization (“3D IP”) survey completed over the Mustang Zone of its 100%-owned River Valley Palladium Project (“River Valley” or “RV”), located approximately 100 km east of Sudbury, Ontario. The survey, carried out by Abitibi Geophysics Inc. of Val-d’Or, Québec using the DasVision® 3D IP system, was designed to improve the geophysical and geological understanding of the Mustang Zone and to generate high-priority targets for future drill testing.
Figure 1: Location of the River Valley Platinum Group Metal project in relation to the Sudbury metallurgical complex
The survey results are documented in a 2026 Assessment Report prepared by Axiom Exploration Group Ltd. (“Axiom”), based on the technical results and interpretation provided by Abitibi Geophysics.
Harry Barr, Chairman and CEO, commented: “The 2026 DasVision 3D IP survey has done exactly what we set out to achieve – it has confirmed the known Mustang mineralization geophysically and, importantly, has identified new chargeability trends beyond the currently defined zone. Six anomalies and five priority drill targets from a single geophysical program is a strong result for the first systematic work completed on this 4.5-kilometre trend in over two decades. We look forward to advancing ground-truthing and target prioritization so we can move toward drill testing at Mustang.”
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Highlights
The 2026 3D IP survey covered approximately 4.3 km over the Mustang Zone, acquiring 24,781 apparent resistivity and chargeability measurements from 109 autonomous receivers and 354 validated current injections
Integration of the resistivity, chargeability, and Metal Factor models with existing geological data delineated six geophysical anomalies (RVM-01 to RVM-06), several of which are interpreted as shallow-to-moderate depth targets potentially associated with disseminated to semi-massive sulphide mineralization
The geophysical response in the northern part of the survey area shows a spatial relationship with known PGM-Cu-Ni mineralization, confirming that the survey successfully responds to the known mineralized system at Mustang
Two new chargeability trends were identified beyond the currently known Mustang Zone: Trend 2, located to the south near the interpreted footwall contact of the River Valley Intrusion, and Trend 3, located southwest of known mineralization, internal to the Intrusion
Abitibi Geophysics has designed five priority drill targets over selected anomalies for follow-up evaluation
The work was completed in support of assessment work requirements under the Ontario Mining Act, and the Company will advance a program of ground-truthing, geological mapping ahead of drill testing
Figure 2: DasVision 3DIP survey plan on the Mustang target/ River Valley Project. This diagram outlines platinum group elements and copper mineralized trend.
Survey Backgrounds and Objectives
Field data acquisition for the 2026 3D IP survey was completed between January 17 and 26, 2026, using Abitibi Geophysics’ DasVision® distributed-array system. The survey represents the first systematic geophysical program completed over the 4.5-kilometre-long Mustang Zone since 2002, and was designed to: (i) delineate resistivity and chargeability anomalies potentially associated with sulphide mineralization; (ii) improve the understanding of the subsurface geological and structural framework of the Mustang Zone; and (iii) generate and prioritize targets for future drill testing.
Following quality control review, 18,922 resistivity measurements (76%) and 18,097 chargeability measurements (73%) were retained for three-dimensional inversion modelling, completed using Res3Dinv. Derived Metal Factor and Gold Index models were also generated to assist in distinguishing prospective sulphide-related responses from background geological variability.
Survey Results
The inverted resistivity model returned values ranging from approximately 500 to 125,000 Ωm, with low-resistivity domains coinciding with known fault structures and documented mineralization. The inverted chargeability model returned values ranging from approximately 2 to 53 mV/V, with anomalous responses generally exceeding 15 mV/V. In the northern part of the survey area, a broad conductive and chargeable zone coincides with the known Mustang Zone, confirming that the survey methodology successfully detects the known mineralized system.
Because the known Mustang mineralization is characterized by elevated chargeability and comparatively low resistivity, the Metal Factor model proved to be the most effective tool for target generation. Integration of the resistivity, chargeability, Metal Factor, and geological datasets resulted in the delineation of six geophysical anomalies, labelled RVM-01 through RVM-06 (Figure 2), several of which are interpreted to represent shallow-to-moderately deep targets potentially associated with disseminated to semi-massive sulphide mineralization.
The spatial pattern of the anomalies also supports the interpretation that the Mustang Zone has undergone multiple phases of structural deformation, resulting in local displacement of mineralization from the margins toward the interior of the River Valley Intrusion. Beyond the anomalies directly associated with known mineralization, the survey identified two new chargeability trends: Trend 2, located in the southern part of the survey area near the interpreted footwall contact of the River Valley Intrusion, and Trend 3, located southwest of the known mineralization, within the interior of the Intrusion. Based on the integrated interpretation, Abitibi Geophysics has designed five drill targets over selected anomalies for follow-up evaluation.
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Figure 3: Metal Factor isosurface (cut-off value of 175) outlining the six identified geophysical anomalies (RVM-01 to RVM-06) relative to the known Mustang Zone. Proposed Trend 2 and possible Trend 3 represent new chargeability trends identified beyond the currently known mineralized zone. Source: Abitibi Geophysics, 2026, as presented in Axiom Exploration Group Ltd., 2026.
Recommendations and Next Steps
Based on the results of the 2026 survey, the following work is recommended and is being advanced by the Company:
Continued examination and interpretation of the 3D IP models, including further evaluation of chargeability and Metal Factor thresholds
Ground-truthing of the interpreted geophysical responses and five exploration target areas, including revisiting historical drill holes, trenches, and grab-sample locations
Review of historical drilling at the RVM-01a and RVM-03 target areas to confirm whether they have been adequately tested by prior exploration
A drone-based magnetic, radiometric, and LiDAR survey over the River Valley claim block to complement the 3D IP results
Detailed geological mapping of the River Valley Intrusion, with emphasis on refining the position of the footwall contact
Integration of the above work with the 2026 IP models and existing geological, geochemical, and drilling datasets to rank and prioritize targets for future diamond drilling
Implementation of this program is expected to validate the interpreted geophysical responses, refine the structural and geological model of the Mustang Zone, and support a technically supported ranking of targets ahead of future drill testing.
About the Mustang Zone
PGM-Cu mineralization at Mustang was discovered by Mustang Minerals in 1999 and is hosted within the same Paleoproterozoic River Valley Intrusion (gabbronorite-anorthosite) that hosts the 11-km-long PGM-Cu mineralized trend to the north on NAM’s original River Valley property. Historical exploration by prior operators traced the mineralized zone over 4.5 km along strike, including the completion of 67 diamond drill holes totalling 16,442 m. New Age Metals acquired the Mustang property in August 2016; the 2026 3D IP survey represents the first systematic exploration completed on the property since 2002.
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 four divisions: a Platinum Group Element division, a Lithium/Rare Metals division, an Gold-Antimony Division in the Kenora Mining Districtas well as a significant equity investment in MetalQuest Mining’s (TSXV:MQM | OTC:MQMIF). MQM owns 100% one of North America’s largest Iron project and a number of other explorations projects.
The PGM Division includes the 100% owned, 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. Currently there is a summer/fall program to complete the second phase of the PLATSOL metallurgical work. We are also completing recommendations and a go forward plan for the Mustang zone on the southern most 4 KMs of the total 16 KM Project. Our objective is to outline drill targets to re establish the historical resource on Mustang zone. In addition to River Valley, NAM owns 100% of the Genesis PGM-Cu-Ni Project in Alaska. On May 6th, 2026, NAM announced it entered into a non-binding letter of intent with Rockport Capital Corp., which sets out the principal terms and conditions of the proposed transaction to further develop the Genesis Project. Work began in mid August 2026. See link for further details : https://newagemetals.com/new-age-metals-options-genesis-project/
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. For more information regarding the Thunder Bay projects click here; https://newagemetals.com/new-age-metals-expands-platreef-pgm-project-through-strategic-option-of-the-gravel-ridge-property-near-lac-des-iles-mine-northwestern-ontario/ .
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. As of early June, the Company has been in the field with 2 full time Newfoundland Prospectors and the Project Geologist Max Kaczmer joined them twice to conduct boots on the ground prospecting, trenching in preparation in establishing drill targets. Most recent releases:
The Bonanza Ridge Gold and Critical Metals Project has been significantly expanded with the option agreements for the Lavender Lake and South Gibi Lake properties, adding prospective ground in the Kenora Gold District of northwestern Ontario. These properties, located about 25 km southeast of Kenora, are strategically positioned along a favourable structural corridor adjacent to NAM’s flagship Bonanza Gold Property, and host known gold and copper occurrences with minimal modern exploration to date. The consolidated portfolio now comprises approximately 19,240 hectares (~47,550 acres) of contiguous land within an emerging gold and critical metals jurisdiction, providing substantial opportunities for follow-up field work, structural modeling, target generation, and future drill campaigns. Recent announcement:https://newagemetals.com/new-age-metals-expands-bonanza-ridge-gold-andcritical-metals-project-strategic-acquisition-oflavender-lake-south-gibi-lake-properties/.
The Company has established a Kenora, Ontario based field operations hubto support exploration activities across Northwestern Ontario and Eastern Manitoba. The facility that the company utilizes is 7 miles out of Kenora off the county’s main highway and provides lodging for up to 10 personal and provides centralized logistical, technical, and administrative support for regional exploration programs and is expected to improve field efficiency and coordination. Currently, there is a 6-man team in the field, consisting of prospectors, technicians and geologists, completing boots on the ground prospecting, trenching, mapping and trail blazing. Samples are being collected and assays are being submitted through the summer to our assay lab. We expect to disseminate an update announcement before the end of July 2026.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where New Age Metals is exploring hard-rock lithium and rare elements including tantalum, rubidium and cesium. On June 3, 2026, NAM announced that it had regained 100% ownership of its 11 LCT projects. As part of the approximately $11.5 million spend by Mineral Resources Ltd. NAM was able to file sufficient assessment dollars to keep the entire project in good standing for 15 years.
Although the planned 2023–2024 exploration program, which represented approximately $7 million in anticipated expenditures, was not completed due to unseasonably warm weather, several priority lithium targets remain undrilled and previous work also identified prospective areas with elevated copper, nickel and gold values.
Management intends to follow up on these targets during the summer and fall 2026 field season, with the Company’s senior geological consultant expected to complete a 10-day site visit in late July or August to review the projects, inspect the new core facility and recommend the next phase of work. While lithium prices have recently pulled back following a strong first half of 2026, the Company’s restored 100% ownership provides full flexibility to advance the portfolio independently and re-engage with third-party groups that had previously expressed interest in the projects.
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.
New Age Metals Inc. is supporting a successful $180K Mitacs research grant, awarded in 2023, through its $90K contribution 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. MSc and post-doctoral research programs have recently been completed, and the Company is reviewing the results with the academic institutions to assess how the findings may be incorporated into future exploration programs. This collaboration provides access to scientific expertise and equipment, significantly reducing analysis costs and adding long-term value to the project.
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. The results of the analysis are enclosed here and recently management have completed a successful review of the project including a trip to visit the site. An announcement will be forth coming with regards to status of the site and the next phase of work recommended by AtkinsRealis.
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 actively evaluating new mineral acquisition opportunities in North America, while maintaining a disciplined focus on advancing the Company’s flagship River Valley PGM/Polymetallic Project and funding robust exploration programs across its broader portfolio of projects.
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 you can reach our office at +1(613)659-2773
Qualified Person
The scientific and technical information contained in this news release relating specifically to the River Valley Project and the 2026 Mustang Zone 3D IP survey has been reviewed and approved for disclosure by in the capacity of consultant Ali Alizadeh, M.Sc., P.Geo., a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The technical information concerning the 2026 3D IP survey is derived from the 2026 Assessment Report on the River Valley Property, Induced Polarization (IP) Geophysical Survey, prepared by Axiom Exploration Group Ltd., and from the underlying technical data and interpretation provided by Abitibi Geophysics Inc. Mr. Alizadeh has reviewed the technical disclosure in this news release for consistency with these supporting documents. The geophysical anomalies and proposed drill targets discussed herein are interpreted exploration targets and should not be considered confirmation of mineralization; further geological verification and integration with historical drilling and geochemical information are recommended prior to drill testing.
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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 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.
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