SAGA Metals Announces Closing of Oversubscribed Brokered LIFE Offering for Gross Proceeds of C$6.0 Million

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VANCOUVER, British Columbia, Dec. 05, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“SAGA” or the “Company”) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce, further to its news release dated November 12, 2025, the closing of its “best efforts” private placement (the “Offering”) for aggregate gross proceeds of approximately C$6,000,000, which includes the exercise in full of the $1,000,000 agent’s option. Pursuant to the Offering, the Company sold (i) 7,761,362 units of the Company (each, a "Unit") at a price of C$0.44 per Unit (the "Unit Price") and (ii) 5,170,000 flow-through units of the Company (each, a "FT Unit", and collectively with the Units, the “Offered Securities”) at a price of C$0.50 per FT Unit. Red Cloud Securities Inc. (“Red Cloud”) acted as sole agent and bookrunner in connection with the Offering.

Each Unit consists of one common share of the Company (a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “FT Share”) and one Warrant. Each Warrant entitles the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.60 at any time on or before December 5, 2028.

The Company intends to use the net proceeds from the Offering for the exploration of the Company’s properties in Labrador, Canada, as well as for working capital and general corporate purposes, as is more fully described in the Offering Document (as herein defined).

“We are thrilled to announce the successful closing of our oversubscribed C$6 million LIFE offering — a powerful endorsement from the market and a major milestone for the Company,” stated Mike Stier, CEO & Director of Saga Metals. “This strong vote of confidence validates our strategy and assets, and most importantly, it fully funds our high-impact 2026 drill program to deliver a maiden mineral resource estimate on the Radar Project. The drill continues to turn at Radar’s Trapper zone—with mineralization already confirmed across 1.5 km. Samples from drill holes R-0008 and R-0009 have been received by the lab and we look forward to sharing those results in the coming weeks.”