New Age Metals Reports Results of 2026 3D Induced Polarization Survey at the Mustang Zone, River Valley PGM Project, Ontario
Rockport, Ontario – September 1, 2026 – New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF;
FSE: P7J.F) ("New Age Metals" or the "Company") is pleased to report the results of its 2026
three-dimensional resistivity and induced polarization (“3D IP”) survey completed over the
Mustang Zone of its 100%-owned River Valley Palladium Project (“River Valley” or “RV”), located
approximately 100 km east of Sudbury, Ontario. The survey, carried out by Abitibi Geophysics
Inc. of Val-d’Or, Québec using the DasVision® 3D IP system, was designed to improve the
geophysical and geological understanding of the Mustang Zone and to generate high-
priority targets for future drill testing.
Figure 1: Location of the River Valley Platinum Group Metal project in relation to the Sudbury metallurgical complex The survey results are documented in a 2026 Assessment Report prepared by Axiom Exploration
Group Ltd. (“Axiom”), based on the technical results and interpretation provided by Abitibi
Geophysics.
Harry Barr, Chairman and CEO, commented: “The 2026 DasVision 3D IP survey has done
exactly what we set out to achieve – it has confirmed the known Mustang mineralization
geophysically and, importantly, has identified new chargeability trends beyond the currently
defined zone. Six anomalies and five priority drill targets from a single geophysical program is a
strong result for the first systematic work completed on this 4.5-kilometre trend in over two
decades. We look forward to advancing ground-truthing and target prioritization so we can move
toward drill testing at Mustang.”
Highlights
- The 2026 3D IP survey covered approximately 4.3 km² over the Mustang Zone,
acquiring 24,781 apparent resistivity and chargeability measurements from 109
autonomous receivers and 354 validated current injections
- Integration of the resistivity, chargeability, and Metal Factor models with existing
geological data delineated six geophysical anomalies (RVM-01 to RVM-06), several of
which are interpreted as shallow-to-moderate depth targets potentially associated with
disseminated to semi-massive sulphide mineralization
- The geophysical response in the northern part of the survey area shows a spatial
relationship with known PGM-Cu-Ni mineralization, confirming that the survey
successfully responds to the known mineralized system at Mustang
- Two new chargeability trends were identified beyond the currently known Mustang Zone:
Trend 2, located to the south near the interpreted footwall contact of the River Valley
Intrusion, and Trend 3, located southwest of known mineralization, internal to the
Intrusion
- Abitibi Geophysics has designed five priority drill targets over selected anomalies
for follow-up evaluation
- The work was completed in support of assessment work requirements under the Ontario
Mining Act, and the Company will advance a program of ground-truthing, geological
mapping ahead of drill testing
Figure 2: DasVision 3DIP survey plan on the Mustang target/ River Valley Project. This diagram outlines platinum group elements and copper mineralized trend.
Survey Backgrounds and Objectives
Field data acquisition for the 2026 3D IP survey was completed between January 17 and 26,
2026, using Abitibi Geophysics’ DasVision® distributed-array system. The survey represents the
first systematic geophysical program completed over the 4.5-kilometre-long Mustang Zone since
2002, and was designed to: (i) delineate resistivity and chargeability anomalies potentially
associated with sulphide mineralization; (ii) improve the understanding of the subsurface geological and structural framework of the Mustang Zone; and (iii) generate and prioritize
targets for future drill testing.
Following quality control review, 18,922 resistivity measurements (76%) and 18,097
chargeability measurements (73%) were retained for three-dimensional inversion modelling,
completed using Res3Dinv. Derived Metal Factor and Gold Index models were also
generated to assist in distinguishing prospective sulphide-related responses from
background geological variability.
Survey Results
The inverted resistivity model returned values ranging from approximately 500 to 125,000 Ωm,
with low-resistivity domains coinciding with known fault structures and documented
mineralization. The inverted chargeability model returned values ranging from approximately 2
to 53 mV/V, with anomalous responses generally exceeding 15 mV/V. In the northern part of the
survey area, a broad conductive and chargeable zone coincides with the known Mustang
Zone, confirming that the survey methodology successfully detects the known
mineralized system.
Because the known Mustang mineralization is characterized by elevated chargeability and
comparatively low resistivity, the Metal Factor model proved to be the most effective tool for
target generation. Integration of the resistivity, chargeability, Metal Factor, and geological
datasets resulted in the delineation of six geophysical anomalies, labelled RVM-01
through RVM-06 (Figure 2), several of which are interpreted to represent shallow-to-
moderately deep targets potentially associated with disseminated to semi-massive
sulphide mineralization.
The spatial pattern of the anomalies also supports the interpretation that the Mustang Zone has
undergone multiple phases of structural deformation, resulting in local displacement of
mineralization from the margins toward the interior of the River Valley Intrusion. Beyond the
anomalies directly associated with known mineralization, the survey identified two new
chargeability trends: Trend 2, located in the southern part of the survey area near the
interpreted footwall contact of the River Valley Intrusion, and Trend 3, located southwest of
the known mineralization, within the interior of the Intrusion. Based on the integrated
interpretation, Abitibi Geophysics has designed five drill targets over selected anomalies
for follow-up evaluation.
Figure 3: Metal Factor isosurface (cut-off value of 175) outlining the six identified geophysical anomalies (RVM-01 to RVM-06) relative to the known Mustang Zone. Proposed Trend 2 and possible Trend 3 represent new chargeability trends identified beyond the currently known mineralized zone. Source: Abitibi Geophysics, 2026, as presented in Axiom Exploration Group Ltd., 2026.
Recommendations and Next Steps
Based on the results of the 2026 survey, the following work is recommended and is being
advanced by the Company:
- Continued examination and interpretation of the 3D IP models, including further
evaluation of chargeability and Metal Factor thresholds
- Ground-truthing of the interpreted geophysical responses and five exploration
target areas, including revisiting historical drill holes, trenches, and grab-sample
locations
- Review of historical drilling at the RVM-01a and RVM-03 target areas to confirm whether
they have been adequately tested by prior exploration
- A drone-based magnetic, radiometric, and LiDAR survey over the River Valley
claim block to complement the 3D IP results
- Detailed geological mapping of the River Valley Intrusion, with emphasis on refining the
position of the footwall contact
- Integration of the above work with the 2026 IP models and existing geological,
geochemical, and drilling datasets to rank and prioritize targets for future
diamond drilling
Implementation of this program is expected to validate the interpreted geophysical responses,
refine the structural and geological model of the Mustang Zone, and support a technically
supported ranking of targets ahead of future drill testing.
About the Mustang Zone
PGM-Cu mineralization at Mustang was discovered by Mustang Minerals in 1999 and is hosted
within the same Paleoproterozoic River Valley Intrusion (gabbronorite-anorthosite) that hosts the
11-km-long PGM-Cu mineralized trend to the north on NAM’s original River Valley property.
Historical exploration by prior operators traced the mineralized zone over 4.5 km along
strike, including the completion of 67 diamond drill holes totalling 16,442 m. New Age
Metals acquired the Mustang property in August 2016; the 2026 3D IP survey represents the
first systematic exploration completed on the property since 2002.
About NAM
New Age Metals is a junior mineral exploration and development company focused on the
discovery, exploration, and development of critical green metal projects in North America. The
Company has four divisions: a Platinum Group Element division, a Lithium/Rare Metals division,
an Gold-Antimony Division in the Kenora Mining Districtas well as a significant equity investment
in MetalQuest Mining’s (TSXV:MQM | OTC:MQMIF). MQM owns 100% one of North America’s
largest Iron project and a number of other explorations projects.
The PGM Division includes the 100% owned, district-scale River Valley Project, one of
North America’s largest undeveloped Platinum Group Element Projects, situated 100 km
by road east of Sudbury, Ontario. Currently there is a summer/fall program to complete the
second phase of the PLATSOL metallurgical work. We are also completing
recommendations and a go forward plan for the Mustang zone on the southern most 4 KMs
of the total 16 KM Project. Our objective is to outline drill targets to re establish the
historical resource on Mustang zone. In addition to River Valley, NAM owns 100% of the
Genesis PGM-Cu-Ni Project in Alaska. On May 6th, 2026, NAM announced it entered into a non-
binding letter of intent with Rockport Capital Corp., which sets out the principal terms and
conditions of the proposed transaction to further develop the Genesis Project. Work began in mid
August 2026. See link for further details : https://newagemetals.com/new-age-metals-options-
genesis-project/
In addition, on January 21st 2026, 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, strengthening its exposure to district-scale mafic–ultramafic systems prospective for
nickel, copper, and platinum group elements. For more information regarding the Thunder Bay
projects click here; https://newagemetals.com/new-age-metals-expands-platreef-pgm-project-
through-strategic-option-of-the-gravel-ridge-property-near-lac-des-iles-mine-northwestern-
ontario/ .
On February 26, 2026, the Company also acquired the Platreef PGM and Escape East PGM
Projects, both platinum group metals–nickel–copper (PGM–Ni–Cu) exploration properties located
in northwestern Ontario within and nearby the prospective Lac des Iles Igneous Complex. The
Complex hosts Canada’s only primary palladium-producing operation, owned and operated by
Impala Canada Ltd., a wholly owned subsidiary of Impala Platinum Holdings Limited.
New Age Metals’ Antimony–Gold Division is focused on advancing a district-scale land
package in Newfoundland comprising 20,950 hectares across 11 non-contiguous
properties. Six of these properties are located in the St. Alban’s area along the Swanger’s Cove
and Little River mineralized trends, while the remaining five are strategically positioned along the
same regional geological corridor as the past-producing Beaver Brook Antimony Mine and near
New Found Gold’s Queensway South Gold Project.
The Company recently completed its Phase 2 exploration program at the St. Alban’s properties,
which significantly advanced the project through the identification of high-grade, structurally
controlled gold–antimony mineralization along an emerging ~16 km Au–Sb trend. Highlights from
Phase 2 include grab samples returning up to 51.9% antimony and 46.2 g/t gold at the Antimony Ridge property, confirming the strength and scale of this developing mineralized system. In
response to these results, NAM expanded its land position by staking an additional 40 claims
(~1,000 hectares), including the Pardy Head antimony occurrence, and has received approvals
for trenching in preparation for the next phase of exploration. As of early June, the Company has
been in the field with 2 full time Newfoundland Prospectors and the Project Geologist Max
Kaczmer joined them twice to conduct boots on the ground prospecting, trenching in preparation
in establishing drill targets. Most recent releases:
https://newagemetals.com/new-age-metals-reports-up-to-51-9-antimony-and-46-2-g-t-gold-from-
phase-2-exploration-at-st-albans-newfoundland
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
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 prospective
ground in the Kenora Gold District of northwestern Ontario. These properties, located about 25
km southeast of Kenora, are strategically positioned along a favourable structural corridor
adjacent to NAM’s flagship Bonanza Gold Property, and host known gold and copper occurrences
with minimal modern exploration to date. The consolidated portfolio now comprises
approximately 19,240 hectares (~47,550 acres) of contiguous land within an emerging gold and
critical metals jurisdiction, providing substantial opportunities for follow-up field work, structural
modeling, target generation, 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 has established a Kenora, Ontario based field operations hub to support
exploration activities across Northwestern Ontario and Eastern Manitoba. The facility that the
company utilizes is 7 miles out of Kenora off the county’s main highway and provides lodging for
up to 10 personal and provides centralized logistical, technical, and administrative support for
regional exploration programs and is expected to improve field efficiency and coordination.
Currently, there is a 6-man team in the field, consisting of prospectors, technicians and
geologists, completing boots on the ground prospecting, trenching, mapping and trail
blazing. Samples are being collected and assays are being submitted through the summer to our
assay lab. We expect to disseminate an update announcement before the end of July 2026.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River
Pegmatite Field, where New Age Metals is exploring hard-rock lithium and rare elements including
tantalum, rubidium and cesium. On June 3, 2026, NAM announced that it had regained 100%
ownership of its 11 LCT projects. As part of the approximately $11.5 million spend by Mineral
Resources Ltd. NAM was able to file sufficient assessment dollars to keep the entire
project in good standing for 15 years.
Although the planned 2023–2024 exploration program, which represented approximately
$7 million in anticipated expenditures, was not completed due to unseasonably warm
weather, several priority lithium targets remain undrilled and previous work also identified
prospective areas with elevated copper, nickel and gold values.