New Age Metals Expands PGM Portfolio with Escape East Project Acquisition
Rockport, Ontario — February 26, 2026 — Leads & Copy — New Age Metals Inc. has acquired the Escape East Project, a 100%-owned platinum group metals–nickel–copper (PGM–Ni–Cu) exploration property comprising approximately 4,000 hectares in Northwestern Ontario’s Thunder Bay Mining Division.
The Escape East Project is adjacent to Clean Air Metals Inc.’s Thunder Bay North Project, which hosts the Current Lake and Escape Lake platinum group metal deposits. New Age Metals’ strategic staking complements its recently announced Lac des Îles (Platreef) claim group, expanding its land position within the broader Lac des Îles intrusive complex region.
The area is a magmatic PGM–Ni–Cu geological environment near the Lac des Iles Mine, Canada’s only primary palladium-producing operation. Platinum group metals are recognized as critical minerals by the Government of Canada for their importance in emissions control technologies, clean energy systems, and advanced industrial applications. New Age Metals’ Projects aligns with Canada’s Critical Minerals Strategy, which aims to support domestic supply chains and responsible resource development.
Chairman and CEO Harry Barr said the acquisition of the Platreef PGM Project is a strategic addition to New Age Metals’ growing PGM pipeline. He noted the project is located in a proven PGM district with infrastructure and geological indicators. The company’s objective is to build a Canadian-focused PGM exploration portfolio through disciplined acquisition and systematic technical advancement, focusing on disciplined capital allocation, advancing exploration assets, and creating long-term shareholder value.
The Escape East Project is underlain by rift-related mafic to ultramafic intrusive rocks, considered prospective for magmatic nickel–copper–platinum group metals mineralization. Historical exploration in the area included high-resolution airborne magnetic surveys, ground geophysics and geological mapping, prospecting, trenching, geochemical sampling, and diamond drilling on adjacent properties.
Magnetic anomalies and intrusive targets within the Escape East land package will be evaluated through data compilation and target refinement.
The Escape East Project is located adjacent to the Thunder Bay North Project operated by Clean Air Metals Inc., which hosts the Current Lake and Escape Lake deposits. These deposits comprise an underground-constrained mineral resource estimate of 14.5 million tonnes grading 1.58 g/t Pt and 1.54 g/t Pd (8.12 g/t PtEq) in the Indicated category, and 8.1 million tonnes grading 0.67 g/t Pt and 0.69 g/t Pd (4.07 g/t PtEq) in the Inferred category, as disclosed in the NI 43-101 Technical Report on the Thunder Bay North Project.
The project complements the Company’s Platreef PGM Project, comprising 834 mining claims totaling approximately 16,680 hectares within the Lac des Îles Igneous Complex. The Platreef PGM Project is located adjacent to the Lac des Iles PGM Mine, operated by Impala Canada Ltd., a wholly owned subsidiary of Impala Platinum Holdings Limited (Implats; JSE: IMP; OTCQX: IMPUY). Impala Platinum reports proven and probable mineral reserves of 40.9 million tonnes grading 2.31 g/t Pd, containing 3.04 million ounces of palladium, as disclosed in the NI 43-101 Technical Report on the Feasibility Study for the Lac des Iles Mine.
New Age Metals intends to advance the Escape East PGM–Ni–Cu Project through a phased, systematic exploration program to enhance geological understanding, prioritize targets, and advance the project toward potential drill testing.
The exploration program will include compiling and reinterpreting historical geological mapping, drill data, airborne magnetic surveys, and government geoscience datasets. The company will integrate regional structural and intrusive modeling with adjacent project data to refine geological interpretations and identify priority corridors. Field verification programs, including mapping, prospecting, and lithogeochemical sampling, will confirm intrusive phases and mineralization indicators. Selective mechanical stripping will improve bedrock exposure and define intrusive contacts and sulphide-bearing zones. Additional ground-based geophysical surveys will refine subsurface targets and enhance drill targeting precision. Priority targets will be advanced to diamond drilling, subject to results, permitting, community engagement, and available funding.
The company will engage with local First Nations and regional stakeholders to ensure communication and responsible exploration practices.
Troy Gallik, P.Geo., a Qualified Person as defined by National Instrument 43-101, reviewed and approved the scientific and technical information in the release. Mr. Gallik is a geological consultant to New Age Metals Inc.
New Age Metals is 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 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. In addition to River Valley, NAM owns 100% of the Genesis PGM-Cu-Ni Project in Alaska. Also, 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.
New Age Metals’ Antimony–Gold division is located in Newfoundland and comprises a 20,950-hectare land package across 11 non-contiguous properties. Management has completed Phase 1 exploration and has now finished Phase 2 fieldwork. The Phase 2 program successfully delineated multiple gold–antimony (Au–Sb) trends, and the Company is currently planning follow-up exploration while awaiting additional assay results. These results will be used to guide exploration targeting and program planning for 2026 and beyond.
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 a combined ~5,216 hectares of prospective ground in the Kenora Gold District of northwestern Ontario. The consolidated portfolio now comprises approximately 8,500 hectares of contiguous land within an emerging gold and critical metals jurisdiction.
The Company is establishing 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.
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 elements. NAM is developing its lithium division in conjunction with its Farm-in/Joint Venture agreement with Mineral Resources Ltd. A minimum budget to maintain the Projects has been approved by Mineral Resources Ltd for May 2025 to April 2026.
In April 2024, a $1.5M NSERC Alliance grant was awarded to a collaboration led by the University of Manitoba with industry partners including New Age Metals. This research is focused on advancing Canada’s critical metals sector, with New Age Metals’ portion targeting its Bird River lithium properties.
New Age Metals Inc. is supporting a successful $180K Mitacs research grant, awarded in 2023, through its $90K contribution (already accounted for and paid under the Mineral Resources joint venture). 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.
The Company is actively seeking an option/joint venture partner for our and its road-accessible Genesis PGM-Cu-Ni Project in Alaska. On August 6, 2025, New Age Metals announced an additional investment in a 4th critical metal. NAM currently owns approximately 9.63% and holds warrants that, if exercised with today’s issued and outstanding shares of MQM, would bring NAM to a 14.6% interest in MetalQuest Mining inc.
MetalQuest Mining inc. is developing one of North America’s largest iron projects. High-purity iron became a critical metal Federally in Canada and in the Provinces of Quebec and Newfoundland and Labrador in 2024. MetalQuest Mining Inc. has expanded its presence in the Ontario Ring of Fire through the acquisition of both the ROF-1 Project and the Fishhook Polymetallic Project. Management is currently aggressively seeking new mineral acquisition opportunities on an international scale.
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.
Source: New Age Metals Inc.
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