New Age Metals Expands Northern Shield PGM-CU-NI And Critical Minerals Project To 32,000 Hectares In Ontario's Ring Of Fire
(TheNewswire)
February 12, 2026 –TheNewswire - Rockport, Ontario–NewAge Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) (“NAM” orthe “Company”) is pleased to announce the acquisition via stakingof the southern extension of its Northern Shield Platinum GroupMetals–Copper–Nickel and Critical Minerals Project located inOntario’s Ring of Fire region. The expansion increases the total project footprint to approximately32,000 hectares (79,074 acres). This expansionbuilds upon NAM’s previously announced acquisition of the NorthernShield Project and materially increases the Company’s land positionalong interpreted mafic-ultramafic geological trends within the Ringof Fire.
Harry Barr, Chairman and CEO,commented: “To our shareholders, thisexpansion represents disciplined growth at the right time and in theright place. Our team has done tremendous work identifying andsecuring additional prospective ground in the southern extension,strengthening our overall position within the Ring of Fire.
With the Province and First Nationcommunities moving forward on the Ring of Fire supply road andtransmission lines, we are seeing meaningful progress toward unlockingone of Canada’s most important critical mineral regions. Infrastructure development is a major step forward for thedistrict, and I believe positioning ourselves ahead of that build-outis strategically important.
I want to recognize the efforts of our technical andcorporate teams who continue to execute on our vision: expandintelligently, advance methodically, and build long-term value for ourshareholders. We are buildinga project landbank in a region where both the Federal and ProvincialGovernments are now working jointly to build a multi-billion-dollarmining infrastructure hub to support future mines in the Ring ofFire.”
Highlights
100% owned, acquisition completed through staking withno option payments or earn-in obligations
Land position expanded to ~32,000 hectares (~79,074acres) comprising 1,560 claims, consolidating prospective groundwithin Ontario’s Ring of Fire
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
Southern extension captures additional interpretedbedrock EM conductors prospective for platinum group metals andnickel-copper mineralization
Expanded footprint strengthens control alonginterpreted intrusive and structural trends associated with magmaticsulphide systems
Building upon an extensive historicalexploration database including airborne geophysics, ground EM surveys,mapping, and previous diamond drilling
Systematic data compilation underway to refine targetsand prioritize field programs ahead of drill targeting
Ongoing regional consolidation strategy with continuedevaluation of additional acquisitions in the immediate area
Strategic addition to New AgeMetals’ Platinum Group Metals project pipeline, complementing the Company’s River Valley PGM Project,Genesis PGM–Cu–Ni Project, and recentlyacquired Northern Shield PGM Project and the Platreef PGM Project(Ontario)
Government momentum continues tostrengthen the district, with Ontario targeting 2026 for commencementof the Ring of Fire supply road, supporting long-term regional accessand development potential
Northern Shield Project Overview andSouthern Extension Highlights
The Company has staked an additional 621 mining claimscovering approximately 12,000hectares (29,653 acres) in the southernextension of the Project. The Northern Shield Project’s landbank nowtotals approximately 32,000hectares (79,074 acres).
The Northern Shield Project represents a large,contiguous land position within the Ring of Fire region of northernOntario, targeting magmatic sulphide systems prospective for platinumgroup metals (PGM), nickel, and copper.
The Property is interpreted to cover portions of alayered mafic–ultramafic intrusive complex supported by historicaldrilling, airborne and ground geophysics, and publicly availableOntario assessment records. The system is considered prospective forreef-style PGM–Ni–Cusulphide mineralization, as well as vanadium-rich magnetite layers.
The Fishtrap Lake Intrusive Complex is characterizedby:
Cyclic anorthosite–gabbro–pyroxenitestratigraphy
Magnetite-rich horizons
Localized sulphide mineralization
These features are consistent with geologicalenvironments known globally to host stratiform PGM-bearingsystems.
The Northern Shield Project is situated within theJames Bay Lowlands region ofOntario, an emerging critical minerals districtthat includes the Ring of Fire and nearby exploration and developmentprojects operated by groups such as Wyloo Metals (seeFigure 1). Ongoing exploration activity and advancing regionalinfrastructure initiatives underscore the growing strategic importanceof this part of northern Ontario.
Figure 1.Location map of newlyacquired Southern Extension (in Red) of the Northern Shield Projectnow encompassing a grand total of 32,000 hectares. Also locatedproximal to MetalQuest Ring of Fire Projects.
Reflecting this broader regional activity, MetalQuest Mining Inc.(“MQM”) announced on December 3, 2025,that it secured the ROF-1Project and recently announced on January 23, 2026, the FishhookPolymetallic Project, a critical minerals landpackage within the Ontario Ring of Fire. New Age Metals currently holds an equityinterest in MetalQuest Mining, providing theCompany with additional exposure to exploration activity in the Ringof Fire and reinforcing its strategic focus on platinum group metalsand critical minerals in Northern Ontario.
Data compilation and geologicalinterpretation will continue across the expanded land package toprioritize targets and optimize exploration planning. The Company intends to advance select targets toward fieldvalidation and potential drill testing as part of its phasedexploration strategy.
Major Transmission InfrastructureAdvancing in the Ring of Fire
The Government of Ontario has declared the 230-kilometre Greenstone TransmissionLine a priority project and designatedHydro One to develop and construct it. The line will run fromNipigon Bay to the area ofAroland First Nation, recognized as a keygateway to the Ring of Fire. The project is expected to be completedby 2032and is designed to unlock an additional 350–700 megawatts of hydroelectric andother power generation capacity in northernOntario.
The single-circuit 230 kV transmission line is beingengineered to support a future second circuit and will connect fromthe East-West Tie near Nipigon Bay to a new switching station in ornear Aroland First Nation. The province hasindicated the project is expected to create more than 7,000 jobs, withapproximately 93% of projectspending retained within Canada, supportingdomestic industry and Indigenous participation. Electrical Business Magazine. (2026,February 2). Hydro One designated for priority construction of Ring ofFire transmission line. Electrical Business Magazine.
Figure 2.Powerline Infrastructure inNorthwestern Ontario Highlighting the New Ring of Fire TransmissionLine Initiative (based on the Government of Ontario release on theGreenstone Transmission Line project)— see Ontario Connecting Ringof Fire with New Transmission Line https://news.ontario.ca/en/release/1006975/ontario-connecting-ring-of-fire-with-new-transmission-line
Hydro One’s President and CEO,David Lebeter, stated: “This line isfoundational to building a secure and reliable electricity system inthe north – one that supports every community in the region. In theprocess of building it, we’re also strengthening local economicprosperity by partnering with First Nations and sourcing goods andservices from Canadian, Ontario and Indigenous suppliers.”
Additional, regional initiatives include proposedall-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.
Figure 3.Prime Minister Mark Carneyand Ontario Premier Doug Ford signing an agreement on the Ring of FireRoad. 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.”
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-GoldDivision as well as an investment in MetalQuest Mining’s (TSXV:MQM |OTC:MQMIF) high purity Lac OtelnukIron 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 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 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 to[email protected] or Harry Barr at [email protected] or Farid Mammadov at [email protected] 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 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.
Copyright (c) 2026 TheNewswire - All rights reserved.
NASDAQ: NMTLF
NMTLF Trading
8.85% G/L:
$0.332 Last:
25,429 Volume:
$0.336 Open:
