New Age Metals Regains Full Ownership of Manitoba Lithium and Rare Metals Project

Vancouver, BC – June 3, 2026 – Leads & Copy – New Age Metals Inc. (NAM) has fully regained 100% ownership of its Lithium and Rare Metals Project in Manitoba, Canada, following the termination of a farm-in and joint venture agreement with Lithium Mineral Resources Pty Ltd, a subsidiary of Mineral Resources Limited (MinRes). The project, previously subject to an agreement dated August 29, 2022, saw MinRes having the option to earn an initial 51% interest by completing CAD$4,000,000 in expenditures within 56 months. This initial obligation expired on May 27, 2026.

During the term of the agreement, MinRes invested significantly in the project, undertaking activities such as district consolidation, geological mapping, geophysical surveys, diamond drilling, constructing a core storage facility, and performing assaying and laboratory analysis. In recognition of these efforts, NAM has granted MinRes a 2% revenue royalty on the project.

Additionally, MinRes has paid NAM CAD$135,426, covering all outstanding invoices and financial obligations between the parties under the previous agreement. As part of the termination, MinRes has relinquished all rights and interests in the tenements, with all ownership reverting to NAM. However, the 2% revenue royalty granted to MinRes remains in effect.

New Age Metals retains the right to repurchase 1.0% of this revenue royalty at any time within four years of the royalty deed agreement's effective date, for a payment of CAD$1,500,000 to MinRes. The royalty pertains to lithium, cesium, and tantalum, as well as any ores extracted where these elements are principal or payable components.

Harry Barr, CEO and Director of New Age Metals, expressed gratitude to MinRes for their contributions and partnership. Barr stated that with full ownership restored, NAM is focused on advancing the many drill-ready targets identified at the project, while continuing to develop new exploration targets. He highlighted the project's significant potential, particularly in light of strengthening lithium, cesium, and tantalum prices and the global focus on critical metal supply security. Barr added that full ownership will provide greater flexibility to advance exploration and development activities in a manner that supports long-term shareholder value.

New Age Metals also remains committed to collaborative work with Sagkeeng First Nation under their long-term exploration agreement as the project advances. The company's management team is currently attending The Mining Investment Event 2026 in Quebec City, engaging in meetings with potential investors, mining companies, First Nations partners, and government organizations to discuss the company's portfolio of precious and critical metals projects.

New Age Metals is a junior mineral exploration and development company focused on critical green metal projects in North America. The company's divisions include Platinum Group Element, Lithium/Rare Metals, and Antimony-Gold. NAM also holds an investment in MetalQuest Mining's Lac Otelnuk Iron Project. The company's PGM Division includes the River Valley Project in Ontario and the Genesis PGM-Cu-Ni Project in Alaska. NAM recently expanded its PGM portfolio with the acquisition of the Northern Shield PGM Project and the Platreef PGM and Escape East PGM Projects in Ontario.

The Antimony-Gold Division focuses on a district-scale land package in Newfoundland, with recent exploration identifying high-grade gold-antimony mineralization. The company has also established a Gold and Critical Metals Division in northwestern Ontario, with its flagship Double R Gold Project and the expanded Bonanza Ridge Gold and Critical Metals Project. A field operations hub is being established in Kenora, Ontario, to support exploration activities.

NAM's Lithium Division is a significant claim holder in the Winnipeg River Pegmatite Field, exploring for hard rock lithium and various rare metals. The company is also part of a $1.5M NSERC Alliance grant focused on advancing Canada's critical metals sector, with a portion targeting NAM's Bird River lithium properties. In addition, NAM has an investment in MetalQuest Mining, which is developing the Lac Otelnuk Iron Project, a critical metal project in Quebec. MetalQuest Mining has also expanded its presence in the Ontario Ring of Fire with new project acquisitions. New Age Metals is actively seeking new mineral acquisition opportunities internationally, with a strategy to generate projects and option them to other mining companies.

Source: New Age Metals Inc.