Acquisition Of The Northern Shield Platinum Group Metals-Copper-Nickel Critical Minerals Project In The Ring Of Fire, Northern Ontario

(TheNewswire)

January 21, 2026 –TheNewswire - Rockport, Ontario–NewAge Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) (“NAM” orthe “Company”) is pleased to announce that it has acquired viastaking the Northern ShieldProperty within the Ring of Fire, a new platinumgroup metals (PGM)–copper (Cu)–nickel (Ni) exploration propertythat adds a significant new project to the Company’s PGM CriticalMetals Division, located within the Fishtrap Lake Intrusive Complex in Northern Ontario, Canada. This acquisition represents a firststep in NAM’s expanding Ring of Fire strategy.

Harry Barr, Chairman and CEO,commented: “As a Prospect Generator, theacquisition of the NorthernShield Project is aligned with our strategy of building long-term valuefor shareholders through disciplined growth inplatinum group and critical minerals projects. Our flagship River Valley PalladiumProject, which hosts a multi-million-ounce NI43-101 compliant Mineral Resource, provides a strong foundation for theCompany, and Northern Shield adds another strategic project to our PGMportfolio at a low entry cost. This positivemomentum is further supported by our recently completed financing,raising $4.0 million includinga lead order from Mr. Eric Sprott, one of themining sector’s most respected investors, which strengthens ourability to advance our portfolio and execute on our growth strategy.The government commitment to infrastructure development in NorthernOntario, is emphasized in Figure 1, especially with the recentannouncement of a new all-season access road to the Ring of Fireregion. The Directors andManagement of New Age Metals believe that we are well positioned tobenefit from improving access, regional momentum, and responsibleresource development in partnership with First Nations.”

Highlights

• 100% owned, acquisition completed through staking withno option payments, or earn-in obligations 

• Land position totaling ~20,000 hectares (~54,000 acres)of 939 claims covering a large intrusive complex associated withPGM/Cu/Ni 

• Extensive historical exploration database, includingairborne and ground geophysics, soil geochemistry, mapping, and 7,000metres previous diamond drilling 

• Demonstrated mineralized system, with historicaldrilling intersecting PGM-bearing reef-style horizons, net-texturedsulphides, and a vanadium-rich magnetite layer 

• Multiple priority reef-level targets identified, withprospective stratigraphic positions remaining largely untested alongstrike and at depth 

• Clearly defined drill targets identified by previousoperators, which remain untested and available for follow-updrilling 

• The Company has commenced data compilation and planninggrassroots programs to refine targets ahead of drilling  

• Government momentum continues to strengthen thedistrict, with Ontario targeting Spring 2026 for road-corridorconstruction, supporting long-term access, development efficiency, andfuture mine buildout.  

The Northern Shield Property consists of 939 contiguous mining claimcells totaling roughly ~20,000 hectares (~54,000 acres) and covers a well-documented layered mafic–ultramafic intrusivesystem confirmed by historical drilling andgeophysics through publicly available Ontario assessments.

The system is considered prospective for reef-style PGM–Ni–Cu sulphidemineralization and vanadium-rich magnetite layers. The Fishtrap LakeIntrusive Complex ischaracterized by cyclic anorthosite–gabbro–pyroxenite stratigraphy, magnetite-rich horizons, and localized sulphidemineralization, features thatare consistent with environments known to host stratiform PGMsystems.

The Northern ShieldProject is situated in the James Bay Lowlands region ofOntario, an emerging critical minerals districtthat includes the Ring of Firearea and nearby exploration and developmentprojects operated by groups such as Wyloo Metals as shownin Figure 2. The presence of active exploration and plannedinfrastructure development in the broader region highlights thegrowing strategic importance of this part of northern Ontario.

Mr. Max Kaczmer, Company ExplorationManager stated: “Northern Shield is exactlythe type of opportunity we look for at New Age Metals. The property was acquired at very low costthrough staking, yet benefits from extensive historical exploration,including drilling that confirmed PGM-bearing, base metals, andvanadium (polymetallic) reef horizons and sulphidemineralization.”

The Ring ofFire is recognized as one of Canada’s mostsignificant emerging critical minerals districts, hosting large-scalenickel, copper, platinum group metals, and chromite discoveries thathave attracted sustained interest from industry, governments, andFirst Nations.

Regional initiatives include proposed all-season access roaddevelopment, intended to improve connectivity,reduce exploration costs, and support long-term economic opportunities in collaboration with localFirst Nations communities. This growinginfrastructure and exploration momentum underscores the strategicimportance of projects located within and adjacent to the Ring ofFire.

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Figure 1. PrimeMinister Mark Carney and Ontario Premier Doug Ford signing anagreement on the Ring of Fire Road. Source: https://ontarioconstructionnews.com/ford-predicts-shovels-in-the-ground-by-june-as-ontario-and-canada-move-forward-on-ring-of-fire

The Premier of Ontario, Mr. DougFord was quoted on December 23, 2025, in theOntario Construction News: “This will create jobs, build a more competitive economy and helpunlock the enormous economic opportunity of the Ring ofFire.”

Mr. Ford wenton to add “The agreement isthe last one needed to launch construction on the Ring ofFire. He predicts shovels will be in the groundin June 2026, as soon as theground thaws, three whole years ahead of schedule.”

Reflecting this broader regional activity, MetalQuest Mining Inc.(“MQM”) announced on December 3, 2025,that it secured the ROF-1Project, a district-scale critical minerals landpackage within the Ontario Ring of Fire (see MQM news release:https://metalquestmining.com/news/metalquest-secures-critical-minerals-project-in-northern-ontarios-ring-of-fire-region/). New Age Metalscurrently holds an equity interest in MetalQuest Mining, providing the Company with additional exposure toexploration activity in the Ring of Fire and reinforcing its strategicfocus on platinum group metals and critical minerals in NorthernOntario.

Platinum group metals and base metals have strengthenedsignificantly over the past year. In February 2025,platinum and palladium averaged approximately US$950–970/oz,copper traded near US$4.00–4.25/lb, nickel around US$16,000–17,000/t,and rhodium near US$10,000/oz, while recent market pricingshows platinum above US$2,500/oz, palladium near US$1,900/oz, copperaround US$5.6/lb, nickel near US$17,000/t, and rhodium remaining elevatednear US$10,000/oz, reflecting strong demand across critical and platinum groupmetals markets as shown on Kitco on January 21, 2026.

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Figure 2.Location map of the newly acquired Northern Shield claim blocksshowing proximity to the proposed Ring of Fire access road (orangeline) and selected regional PGM, VMS, and chromite deposits shown forregional context only.

Mr. Troy Gallik, P.Geo., SeniorExploration Manager, and a member of New AgeMetals’ technical team, added: “I participated in evaluating andrecommending the Northern Shield Property to New Age Metals based onits technical merits. Historical exploration at Northern Shield has already completed muchof the foundational work, with previous operators identifying specificdrill targets supported by stratigraphy and geophysics that were notfollowed up. The Company is now compiling andreinterpreting this extensive dataset and planning low-cost grassrootsprograms to further refine priority targets ahead of potentialdrilling.”

Exploration History

Historical exploration on and adjacent to the NorthernShield Property was conducted primarily between 2003 and 2009 andincluded airborne magnetic and electromagnetic surveys, soilgeochemistry, ground geophysics, geological mapping, and diamonddrilling. Drilling confirmed alayered anorthosite–gabbro–pyroxenite stratigraphy, localizedsulphide mineralization, and magnetite-rich horizons. Several drill holes intersected thin Pt–Pd-bearingreef-style horizons, net-textured sulphides, and a vanadium-rich magnetite layer.

Previous operators consistently concluded in publiclyavailable historical assessment reports (Ontario Geological Survey;early 2000s) that drilling was too widely spaced and did notadequately test the most prospective reef-level stratigraphicpositions, and recommendedadditional drilling to evaluate the continuity and thickness ofmineralized horizons defined by coincidentgeophysical and geochemical anomalies as shown in Figure 3.

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Figure 3. Proposed drill targets in whitecircles showing planned drill hole locationsoverlain on an airborne magnetic interpretation of the Fishtrap Lake Intrusive Complex by previous operators. Previous drilling shown in blackcircle areas. Vaillancourt, C., & Bliss, I. C. (2008).Assessment report on theHighbank Lake Property, Northern Ontario, Canada. Northern Shield Resources Inc.

QualifiedPerson

Troy Gallik, P.Geo. (Member ID 3550), a PractisingRegistrant and Qualified Person (“QP”) as defined by NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects,has reviewed and approved the scientific and technical informationcontained in this news release. Mr. Gallik is a geological consultantto New Age Metals Inc. and is not independent of the Company for thepurposes of NI 43-101.

The QP has reviewed available assessment files,historical drill logs, geophysical data, government geological data,and publicly available technical reports relevant to the Company’snewly acquired claims. The QP has not completed sufficient work toindependently verify all historical information referenced herein,particularly information generated by previous operators. However, theQP considers the historical information to be relevant and reliablefor the purposes of identifying and discussing explorationpotential.

AboutNAM

New Age Metals is a junior mineral exploration anddevelopment company focused on the discovery, exploration, anddevelopment of critical green metal projects in North America. TheCompany has three divisions: a Platinum Group Element division, aLithium/Rare Metals division, an Antimony-Gold Division as well as aninvestment in MetalQuest Mining’s(TSXV:MQM | OTC:MQMIF) high purityLac Otelnuk Iron Project.

The PGM Division includes the 100%owned, multi-million-ounce, district-scale River Valley Project, oneof North America’s largest undeveloped Platinum Group ElementProjects, situated 100 km by road east of Sudbury, Ontario.In addition to River Valley, NAM owns 100% ofthe Genesis PGM-Cu-Ni Project in Alaska. Most recent PGM announcement: https://newagemetals.com/new-age-metals-prepares-its-platinum-group-metals-division-to-launch/.

New Age Metals’ Antimony–Golddivision is located in Newfoundland and comprises a 20,950-hectareland package across 11 non-contiguous properties. Six of these properties are situated in the St. Alban’sarea, along Canstar’s Swanger and Little River mineralized trends.The remaining five properties are strategically positioned along thesame regional geological trend as the past-producing Beaver BrookAntimony Mine and are also located near New Found Gold’s QueenswaySouth Gold Project.

Management has completed Phase 1 exploration and hasnow finished Phase 2 fieldwork. The Phase 2 program successfullydelineated multiple gold–antimony (Au–Sb) trends, and the Companyis currently planning follow-up exploration while awaiting additionalassay results. These results will be used to guide explorationtargeting and program planning for 2026 and beyond. Most recentreleases: 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/

https://newagemetals.com/new-age-metals-samples-high-grade-antimony-gold-silver-and-lead-at-st-albans-newfoundland-and-starts-phase-2-exploration/

The BonanzaRidge Gold and Critical Metals Project has beensignificantly expanded with the option agreements for the Lavender Lake andSouth Gibi Lake properties, adding a combined ~5,216 hectares (~12,889acres) of prospective ground in the Kenora Gold Districtof northwestern Ontario. These properties, located about 25 kmsoutheast of Kenora, are strategically positioned along a favourablestructural corridor adjacent to NAM’s flagship Bonanza GoldProperty, and host known gold and copper occurrences with minimalmodern exploration to date. The consolidated portfolio now comprisesapproximately 8,500hectares of contiguous land within an emerginggold and critical metals jurisdiction, providing substantialopportunities for follow-up field work, structural modeling, targetgeneration, 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 is establishing a Kenora, Ontario based field operationshub to support exploration activities acrossNorthwestern Ontario and Eastern Manitoba. The proposed facility wouldprovide centralized logistical, technical, and administrative supportfor regional exploration programs and is expected to improve fieldefficiency and coordination.

The Company’s Lithium Division is one of the largestmineral claim holders in the Winnipeg River Pegmatite Field, where theCompany is exploring hard rock lithium and various rare elements suchas tantalum, rubidium, and cesium. NAM is developing its lithium division inconjunction with its Farm-in/Joint Venture agreement with MineralResources Ltd. (“MinRes”), one of the world’s largest lithiumproducers. A minimum budget to maintain theProjects has been approved by Mineral Resources Ltd for May 2025 toApril 2026. Management is currently working on providing MineralResources, a go forward exploration program for spring, summer, andfall 2026.

In April 2024, a $1.5M NSERC Alliancegrant was awarded to a collaboration led by the University of Manitoba(Drs. Fayek and Camacho), with academic partners from LakeheadUniversity (Dr. Hollings) and industry partners including New AgeMetals and Grid Metals. This research isfocused on advancing Canada’s critical metals sector, with New AgeMetals’ portion targeting its Bird River lithium properties. The2025 work included core sampling and field visits. The project willlikely extend beyond the original 3-year term, due to its delayedstart. The parties involved in this grant plan to meet over the next60 days and will announce our plans for 2026 and beyond.

New Age Metals Inc. is supporting asuccessful $180K Mitacs research grant, awarded in 2023, through its$90K contribution (already accounted for and paid under the MineralResources joint venture). This academicpartnership with the University of New Brunswick and the University ofBritish Columbia is focused on understanding the origin and controlsof lithium pegmatite mineralization in the Cat Lake–Winnipeg Riverfield. MSc and post-doctoral research programs have recently beencompleted, and the Company is reviewing the results with the academicinstitutions to assess how the findings may be incorporated intofuture exploration programs. This collaboration provides access to top-tier scientific expertiseand equipment, significantly reducing analysis costs and addinglong-term value to the project.

The Company is actively seeking anoption/joint venture partner for our and its road-accessible GenesisPGM-Cu-Ni Project in Alaska and results from our Summer/Fall Programare expected by the end of the year. Recent announcement: https://newagemetals.com/new-age-metals-completes-summer-2025-exploration-program-on-the-genesis-pgm-cu-ni-project-alaska/ .

On August 6, 2025, New Age Metals announced anadditional investment in a 4thcritical metal. NAM currently owns approximately9.63% and holds warrants that, if exercised with today’s issued andoutstanding shares of MQM, would bring NAM to a 14.6% interest inMetalQuest Mining inc.

MetalQuest Mining inc. is developingone of North Americas largest iron projects, where approximately $120million has been spent on the project. For moreinformation, pleasevisit MetalQuestMining.com . High-purity iron became a criticalmetal Federally in Canada and in the Provinces of Quebec andNewfoundland and Labrador in 2024. In the summer of 2025, MQMcontracted AtkinsRealis, an international engineering company, tocomplete a GAP Analysis on the Lac Otelnuk Project and its 2015Feasibility Study. Results are expected in Q1 2026.

MetalQuest Mining has secured the ROF-1 Project, adistrict-scale critical minerals land package in Ontario’s Ring ofFire totaling 1,034 claim cells (~20,800 hectares). The Ring of Fire is one of Canada’s mostimportant emerging critical minerals districts, supported by growinginfrastructure and government attention as the region advances towardpotential development. ROF-1 Project is locatedapproximately 10 km from major nearby deposits and has identifiedexploration potential for VMS-style mineralization and multipleuntested target corridors based on historic work and technicalreview. This acquisitionrepresents MetalQuest’s first step in building a broadermulti-project Ring of Fire strategy, with the Company continuing toreview additional opportunities in the region.

Management is currently aggressivelyseeking new mineral acquisition opportunities on an internationalscale. Our philosophy is to be a projectgenerator with the objective of optioning our projects with major andjunior mining companies through to production.

Investors are invited to visit the New Age Metalswebsite at www.newagemetals.com where they can review the company andits corporate activities. Any questions or comments can be directed toinfo@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.

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On behalf of the Board ofDirectors

“Harry Barr”

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

Cautionary NoteRegarding Forward Looking Statements: This release contains forward-lookingstatements that involve risks and uncertainties. These statements maydiffer materially from actual future events or results and are basedon current expectations or beliefs. For this purpose, statements ofhistorical fact may be deemed to be forward-looking statements. Inaddition, forward-looking statements include statements in which theCompany 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 theirnature involve risks and uncertainties, and actual results may differmaterially depending on a variety of important factors, including,among others, the Company’s ability and continuation of efforts totimely and completely make available adequate current publicinformation, additional or different regulatory and legal requirementsand restrictions that may be imposed, and other factors as may bediscussed in the documents filed by the Company on SEDAR(www.sedar.com), including the most recent reports that identifyimportant risk factors that could cause actual results to differ fromthose contained in the forward-looking statements. The Company doesnot undertake any obligation to review or confirm analysts’expectations or estimates or to release publicly any revisions to anyforward-looking statements to reflect events or circumstances afterthe date hereof or to reflect the occurrence of unanticipated events.Investors should not place undue reliance on forward-lookingstatements.

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