New Age Metals Expands Its PGM-NI-CU Portfolio With Strategic Lac Des Iles Acquisition In Northwestern Ontario

(TheNewswire)

February11th, 2026 –TheNewswire - Rockport, Ontario– New Age Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J)(“NAM” or the “Company”) is pleased to announce theacquisition, via staking, of the Platreef PGM Project, a platinumgroup metals–nickel–copper (PGM–Ni–Cu) exploration propertylocated in Northwestern Ontario within the highly prospective Lac desIles Igneous Complex, hosting Canada’s only primary palladiummine.

The acquisition expands the Company’s PGM Divisionand strengthens its strategic footprint in a well-established miningdistrict with strong infrastructure, road access, and year-roundexploration potential, ~80km from the city of Thunder Bay.

The Platreef PGM Project provides exposure topalladium (Pd), platinum (Pt),nickel (Ni), and copper (Cu) withinmafic–ultramafic intrusive geological settings consideredprospective for intrusion-hosted PGM mineralization.

Platinum group metals are recognizedas critical minerals by the Government of Canadadue to their importance in emissions control technologies, cleanenergy systems, and advanced industrial applications. The Platreef PGM Project aligns withCanada’s Critical Minerals Strategy, whichaims to support domestic supply chains and responsible resourcedevelopment.

Harry Barr, Chairman and CEO,commented, “The acquisition of the PlatreefPGM Project represents a strategic addition to New Age Metals’growing PGM pipeline. The project is located in a proven PGM districtwith excellent infrastructure and strong geological indicators.Our objective is to be themost aggressive PGM explorer and developer in Canada. As our focus remains on disciplined capital allocation,advancing high-quality exploration assets, and creating long-termshareholder value.”

Highlights

• Large-scale land package comprising 834 mining claimstotaling approximately 16,680hectares (~41,200 acres) in NorthwesternOntario 

• Located within the Lac des Îles Igneous Complex, awell-established PGM district hosting the Lac des Îles Mine,Canada’s only primary palladium-producing operation, owned andoperated by Impala CanadaLtd., a wholly owned subsidiary of Impala Platinum Holdings Limited 

• The Company intends to proactivelyengage and consult with local First Nations in accordance with New AgeMetals’ established policy of meaningful and ongoing collaborationwith Indigenous communities 

• Excellent infrastructure and logistics, including roadaccess and proximity to Thunder Bay, a regional hub for miningservices, workforce, transportation, and supply chains 

• Geological setting interpreted to be prospective forintrusion-hosted PGM–Ni–Cu mineralization, based onmafic–ultramafic intrusive units and historical explorationdata 

• Magnetite-bearing gabbroic intrusions andsulphide-bearing zones reported in historical explorationprograms 

• Multiple untested or underexploredintrusive and geophysical targets identified across theproperty 

• Strategic addition to New AgeMetals’ Platinum Group Metals project pipeline, complementing the Company’s River Valley PGM Project andrecently acquired Northern Shield PGM Project (Ontario) and GenesisPGM–Cu–Ni Project (Alaska) 

Click Image To View Full Size

Figure 1. Project location ofthe Platreef PGM Project in relation to Impala Canada’s Lac des IlesMine. Mineral resource and mineral reserve figures presented arederived from public NI 43-101 disclosures¹

Platreef PGM Project – Lac des IlesArea

The PlatreefPGM Project comprises 834 mining claims totaling ~16,680 hectares(~41,200 acres) and is located within thebroader Lac des Îles IgneousComplex, which hosts Canada’s only primary palladiummine.

The property is considered prospective for intrusion-hosted PGMmineralization, based on:

• The presence of magnetite-bearing gabbroic intrusions 

• Above-background palladiumvalues in historical surface samples 

• Sulphide-bearing zones spatially associated with intrusive contacts. 

• Coincident magnetic and induced polarization (IP) anomalies 

• Limited historical drilling that intersected sulphidemineralization but has not defined PGM grades of economicinterest. 

Previous exploration is interpreted to have beenconstrained by limited mechanical stripping, incomplete understandingof intrusive geometry, and drill orientations that may not haveoptimally tested intrusive targets.

The PlatreefPGM Project is located adjacent to theLac des Iles PGMMine, operated by Impala Canada Ltd., a wholly owned subsidiary of ImpalaPlatinum Holdings Limited (Implats; JSE: IMP; OTCQX: IMPUY), one of theworld’s leading primary producers of platinum group metals, whichreports proven and probablemineral reserves of 40.9 million tonnes grading 2.31 g/t Pd,containing 3.04 million ounces of palladium, asdisclosed in the NI 43-101Technical Report on the Feasibility Study for the Lac des IlesMine, with an effective date of July 4, 2018, filedon SEDAR+1

Exploration Strategy

New Age Metals intends to advance the Platreef PGMProject through a phased and systematic exploration program focused onrefining geological understanding, defining priority targets, andadvancing the project toward potential drill testing in a disciplinedand technically driven manner.

• Compile and review historical geological mapping, drilldata, geophysical surveys (magnetics and IP), and governmentdatasets. 

• Conduct field verification including mapping,prospecting, and lithogeochemical sampling. 

• Complete selective mechanical stripping whereappropriate to improve bedrock exposure. 

• The Company may undertake additional ground-basedgeophysical surveys to refine subsurface targets. 

• Advance priority targets to diamond drilling, subjectto results, permitting, and available funding. 

• Engage early with local First Nations and stakeholdersto ensure transparent communication and responsible explorationpractices. 

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/.

In addition, on January 21st 2026, theCompany recently expanded its Platinum Group Metals portfolio throughthe acquisition of the Northern Shield PGM Project in Ontario’s Ringof Fire region, strengthening its exposure to district-scalemafic–ultramafic systems prospective for nickel, copper, andplatinum group elements.

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 theresults with the academic institutions to assess how the findings maybe incorporated into future exploration programs. This collaboration provides access totop-tier scientific expertise and equipment, significantly reducinganalysis costs and adding long-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 Inc. (“MQM”)has expanded its presence in the Ontario Ring of Fire through theacquisition of both the ROF-1 Project and the recently announcedFishhook Polymetallic Project. The FishhookProject further strengthens MetalQuest’s regional footprint,targeting polymetallic mineralization prospective for base andcritical metals.

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.

1 Readers are cautioned that mineralization, mineral resource andmineral reserve estimates, and technical information reported foradjacent properties are not necessarily indicative of mineralizationon the Lac des Iles PGM Project. The Company has not independentlyverified third-party data referenced herein, and such informationshould not be considered predictive of mineralization on theCompany’s property.

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