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Table 1: Summary of drill holes R-0016 to R-0036, highlighting the oxide intercepts. Logging of R-0033 to R-0036 is in progress. See Figures 2-4 below, which depict the oxide mineralization in cross sections S7, S6 and S5.
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| Meters Drilled | Core Samples | |||
| Q4 2025 Drilling | 2050 | 1313 | ||
| Trapper South 2026 | 4492 | 2244 | ||
| Trapper Total | 6542 | 3557 | ||
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Table 2: Summary of total meters drilled in Q4 2025 and 2026 to date, including total core samples cut and prepared.
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Figure 1: Trapper South map outlining location of the initial 2026 focus for the remainder of the MRE drill program to be completed in 2026, including cross-sections S11, S10, S9, S8, S7, S6, S5, and S4, showing the TMI of the 2025 Trapper Zone ground magnetic survey.
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The results from three additional drill holes (R-0018, R-0019, and R-0020) continue to demonstrate broad and consistent oxide mineralization, reinforcing the potential for a robust resource base that could drive long-term value for our shareholders.
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Detailed Logging Highlights from Drill Hole R-0018 to R-0020
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- Hole R-0018 (Cross-Section S07): Intersected a 111.67-meter-thick oxide zone starting at 44.7 meters downhole, comprising 65.04 meters of semi-massive magnetite and 46.63 meters of rhythmic magnetite layering. The zone ends at 156.37 meters, with the lower contact parallel to a steep-dipping WNW oxide layer (orientation N285 88NW) against gabbronorite host rock.
- Hole R-0019 (Cross-Section S06): Encountered a 79.95-meter-thick oxide zone, including 40.62 meters of semi-massive and 39.33 meters of rhythmic oxide layers. The zone begins at 41.26 meters with a semi-massive oxide section in E-W magmatic contact (N091 45SW) with gabbronorite, transitioning to rhythmic layering at a lower ESE contact (N097 44SW). A 21.42-meter gabbronorite interval separates this from a second zone starting at 66.55 meters, featuring rhythmic and semi-massive oxide in SE contact (N158 47SW) with gabbronorite, ending at 133 meters. An additional 9.63-meter rhythmic layer occurs from 139.25 to 148.88 meters in SE contact (N156 44SW) with gabbronorite.
- Hole R-0020 (Cross-Section S05): Intersected an 87.2-meter-thick oxide zone starting at 50.8 meters, including 28.5 meters of semi-massive oxide and 58.7 meters of rhythmic oxide layering. The zone begins with a narrow 4.1-meter rhythmic section in contact (N194 27NW) with gabbronorite, followed by alternating rhythmic layering and gabbronorite until 81.93 meters. The lower contact strikes ESE (N097 66SW) and is within gabbronorite at 138 meters.
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These logging details align with the consistent SE-striking, west-dipping oxide horizons observed across the Trapper Zone, as illustrated in the accompanying cross-sections and base map. The semi-massive to massive oxide mineralization remains our core economic target, delivering strong potential for titanium, vanadium, and iron grades.
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Figure 2: Cross section of S7 looking NW showing R-0018, -0024, -0025 and -0036, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0018 and pending assays for R-0024 and R-0025.
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Figure 3: Cross section of S6 looking NW showing R-0019, -0027 and -0028 as well as proposed holes, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0019 and pending assays for R-0027 and R-0028.
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Figure 4: Cross section of S5 looking NW showing R-0020, R-0021, R-0029, and R-0030, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Assays shown for R-0020 and pending assays for R-0021, R-0029, and R-0030.
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Michael Garagan, CGO & Director of SAGA Metals, commented: “The latest assays from holes R-0018 to R-0020 further confirm the remarkable consistency of high-grade oxide mineralization at Trapper South, with intercepts such as 45.7 m at 49.51% Fe₂O₃, 6.56% TiO₂, and 0.374% V₂O₅ standing out among a growing list of robust zones. Combined with the efficient drilling pace—we’ve already completed over 4,492 meters in 2026 across 21 holes, as seen in Figure 1 above, with more underway—this program continues to build a compelling picture of scale and grade continuity. These results reinforce our confidence as we advance toward a maiden Mineral Resource Estimate at the Radar Project.”
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Drilling is progressing efficiently, with 4,492 m already completed in 2026 up to drill hole R-0036, with 6,542 total meters completed for the Mineral Resource Estimate drill program. The drill rig has been moved to drill pads R-0037 & -0038. IGS Laboratories has received 340 samples from R-0021, -0022, and -0023 on March 3, 2026, while an additional 507 samples from R-0024, -0025, and -0026 have been cut, sampled, and prepared for shipping on March 16, 2026.
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