New Age Metals Acquires 17,620 Ha Double R Gold Project Near the Kenora and Rainy River District, Northwestern Ontario
(TheNewswire)
February 24, 2026 –TheNewswire - Rockport, Ontario – New Age Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J)(“NAM” or the “Company”) is pleased to announce it hasacquired and consolidated the Double R Gold Project through staking inthe Kenora Mining District, northwestern Ontario. The Project nowconsists of 834 mining claims totalling 17,620 hectares (43,540 acres)in a highly prospective gold district.
The acquisition is supported by the region’sestablished gold mineralization and favourable structural setting.Recent regional consolidationactivity, including Coeur Mining’s $7 Billion (USD) acquisition ofNew Gold Inc. and the Rainy River Mine, reflectsongoing interest in the Rainy River and Kenora districts 1. The Double R Gold Project is located approximately 35 kmnorthwest of the Rainy River Mine.
Harry Barr, Chairman and CEO,commented: “Northwestern Ontario continues toattract renewed investment and consolidation activity, and we believethe timing to secure a large, contiguous land position in theKenora-Rainy River district is strategic. Double R provides New AgeMetals and our shareholders with exposure to a highly prospective golddistrict that benefits from established infrastructure, activeexploration, and long-term development momentum.
Our objective is to build valuethrough disciplined exploration while positioning the Company toparticipate in the next phase of regional growth.
The Double R Project is located only70km from the newly established Kenora Field Office. New Age hasexpanded its gold portfolio to five projects encompassingapproximately 37,000 hectares (91,429 acres) in the Kenora District ofOntario”
Highlights
Large, contiguous land package consisting of 834 miningclaims totalling ~17,620 hectares in the Rainy River–Kenora golddistrict
Strategic location approximately 35km northwest of the Rainy River Mine and 17 km south of the CameronGold deposit
Excellent access and infrastructure, including loggingroads, nearby Highway 71, and regional power infrastructure
The Company plans to engage withlocal First Nation communities and intends to pursue opportunities forcollaborative and respectful partnerships, consistent with itscommitment to responsible exploration
Underexplored Archean greenstone belt within theWabigoon Subprovince, a geological terrane that hosts multiple golddeposits elsewhere in northwestern Ontario
Prospective geology including mafic to felsicmetavolcanic rocks, intrusive bodies, and regional structural featuresinterpreted from government airborne geophysical data
Historical bulk till samplingcompleted in 1990 reported numerous anomalous gold grain counts,including samples containing up to 25 gold grains within the Projectarea (Bidwell, 1990)
Historical gold occurrences, including grab samplesreported up to 1.7 g/t Au (grab samples are selective and notnecessarily representative of mineralization)
Phased, low-impact exploration approach planned toprioritize targets for follow-up work and potential drilling
A Strategic Gold Hub
The KenoraMining District and nearby areas have historically been underexplored but are emerging as an active exploration anddevelopment region, supported in partby improved commodityprices and renewed industry and investorinterest.
The region offers a compelling combination of:
Established mining infrastructure andhighway access
Proximity to power, workforce, andservice centers
Favorable permitting environment andcommunity relationships
Recent acquisitions and investments within and adjacentto the district, include:
Accelerating regionalconsolidation, highlighted by Coeur Mining’s announced acquisition ofNew Gold in a ~US$7 billion transaction2
The CameronGold Project acquisition, led by Frank Giustra’s Fiore Group and FirstMining Gold Corp., in a transaction valued atapproximately CAD $27million3.
Growing exploration and developmentactivity by junior, mid-tier, and senior mining companies, reflecting renewedindustry interest in the Kenora and nearby districts
The Company notes growing support for mineralexploration at the provincial, regional, and municipal levels,including policies and initiatives intended to encourage responsibleresource development and investment.
Figure1: Regional property maphighlighting the Kenora District highlighting New Age Metals recentacquisitions illustrating proximity to Rainy River Mine and CameronGold Deposit and nearby towns, cities, infrastructure.
Geological Setting & ExplorationRationale
The Double R Gold Project is located within anunderexplored portion of the Archean Wabigoon Subprovince greenstonebelt, which hosts numerous gold occurrences and deposits elsewhere innorthwestern Ontario. Regional geology and geophysical data,illustrated in Figures 1 and 2, indicate that the Project area isunderlain by mixed mafic to felsic metavolcanic rocks intruded byquartz-feldspar porphyry and tonalite bodies. Government airbornemagnetic data further define interpreted structural featuresconsistent with regional deformation patterns. Variations in rockcompetency and lithological contacts within the Project area areinterpreted to be favourable for the development of orogenic-stylegold mineralization.
Despite its location between two established goldcamps, very limited modern systematic exploration has been conductedover the Project area. Past efforts were sporadic, small-scale, andlargely limited to localized prospecting. Little property-scalegeophysics, geochemistry, or structural interpretation has beencompleted across most of the Project.
The combination of prospective host rocks, interpretedstructural features, and historical gold grain anomalies indicate thatthe Project is considered prospective for both high-grade vein-stylemineralization and broader intrusion-related gold systems.
Ontario Geological Survey (OGS) airborne magnetic datacollected in 2008 highlights folded volcanic sequences, intrusivebodies, and regional-scale structural features across the Projectarea. These features are interpreted to be consistent with geologicalenvironments that host gold mineralization elsewhere in the WabigoonSubprovince.
Figure2: Regional geological map ofthe Double R Gold Project showing the distribution of mafic to felsicvolcanic rocks, intrusive units, known historical gold occurrences,and Ontario Geological Survey till sample locations within andadjacent to the Project area. Sources: Ontario Geological Survey;Bidwell, G.E., 1990, Bulk Till Sampling Program, Quetico(Reconnaissance) Project.
Figure3: Ontario Geological Surveyairborne magnetic (1VD) data covering the Double R Gold Project,illustrating regional-scale lithological and structural featuresinterpreted from magnetic contrasts. Modified after Ontario Geological SurveyHigh Resolution Aeromagnetic – Residual Magnetic Intensity (RMI)data.
Next Steps – 2026 ExplorationProgram
The Company is planning a phased and systematicexploration program designed to evaluate and prioritize targets acrossthe Project area. The initial phase will focus on compilation andreinterpretation of available geological, geochemical, and geophysicaldata, alongside the collection of regional-scale geochemical samplesand the implementation of selected ground geophysical surveys whereappropriate. Airborne geophysical datasets, LiDAR, and other availableremote sensing information will also be integrated to supportstructural interpretation and target generation.
Subject to the results of the initial work, a secondphase will focus on more detailed follow-up activities, includinginfill geochemical sampling, targeted geological mapping, andprospecting to ground-truth priority anomalies and refine explorationtargets. Results from these programs will guide subsequent explorationplanning, including the potential delineation of drill-readytargets.
Kenora Field Office
The Company has recently leased a Kenora-based fieldoperations office and core facility to support exploration activitiesacross northwestern Ontario and eastern Manitoba. The proposedfacility would be intended to provide centralized logistical,administrative, and technical support for the Company’s regionalexploration programs, including:
Office space for geological, technical, and fieldstaff
Secure storage for exploration equipment, samples, andrecords
Core handling, logging, and short-term core storagefacilities
Staging and dispatch of field crews andcontractors
Coordination of community engagement, permitting, andlocal services
Kenora is strategically located in close proximity tothe Company’s active and planned exploration properties, as well asto established transportation routes, supply chains, and analyticallaboratories. Establishing a regional operations hub is expected toimprove field efficiency, reduce mobilization times, and enhancecoordination of multi-project exploration activities. The company willhost an open house at the facility on April 11th and welcomesshareholders, stakeholders and first nation communities toattend.
The facility is intended to support explorationprograms only and is not associated with any mineral processing,production, or development activities.
Figure4: New Age Metals’Kenora-based field operations office and core facility.
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/.
On January 21st 2026, the Company recently expanded itsPlatinum Group Metals portfolio through the acquisition of theNorthern Shield PGM Project in Ontario’s Ring of Fire region,strengthening its exposure to district-scale mafic–ultramaficsystems prospective for nickel, copper, and platinum groupelements.
On February 11, 2026, the Company also acquired thePlatreef PGM Project, a platinum group metals–nickel–copper(PGM–Ni–Cu) exploration property located in northwestern Ontariowithin the prospective Lac des Iles Igneous Complex. The Complex hostsCanada’s only primary palladium-producing operation, owned andoperated by Impala Canada Ltd., a wholly owned subsidiary of ImpalaPlatinum Holdings Limited.
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 is focusedon advancing Canada’s critical metals sector, with New Age Metals’portion targeting its Bird River lithium properties. The 2025 workincluded core sampling and field visits. The project will likelyextend beyond the original 3-year term, due to its delayed start. Theparties involved in this grant plan to meet over the next 60 days andwill 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 scientific expertise andequipment, significantly reducing analysis costs and adding long-termvalue 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 more information, please visitMetalQuestMining.com . High-purity iron became a critical metal Federally in Canada andin the Provinces of Quebec and Newfoundland and Labrador in 2024. Inthe summer of 2025, MQM contracted AtkinsRealis, an internationalengineering company, to complete a GAP Analysis on the Lac OtelnukProject and its 2015 Feasibility Study. Results are expected in Q12026.
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.
If you have not done so already, we encourage you tosign up on our website (www.newagemetals.com) toreceive our updated news.
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 their nature involve risksand uncertainties, and actual results may differ materially dependingon a variety of important factors, including, among others, theCompany’s ability and continuation of efforts to timely andcompletely make available adequate current public information,additional or different regulatory and legal requirements andrestrictions 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 Asstated here: Coeur Mining,Inc. (2025). Coeur announces acquisition of New Gold to create a newall-North American senior precious metals producer. Coeur Mining NewsRelease.
2 Asstated here: Coeur Mining,Inc. (2025). Coeur announces acquisition of New Gold to create a newall-North American senior precious metals producer. Coeur Mining NewsRelease.
3 Asstated here: First Mining Gold Corp. (2025, November 20). First Miningannounces new partnership to advance Cameron Gold Project.
4 Ontario Geological Survey; Bidwell, G.E.,1990, Bulk Till Sampling Program, Quetico (Reconnaissance)Project.
Copyright (c) 2026 TheNewswire - All rights reserved.
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