New Age Metals Closes Second Tranche of Private Placement Financing

Vancouver, BC — October 10, 2025 — Leads & Copy — New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) has closed the second tranche of a non-brokered private placement financing, issuing 3,068,846 flow-through units at $0.26 per unit and 615,906 non-flow-through units at $0.22 per unit, for gross proceeds of $933,399.36, bringing the total from both tranches to $3,383,399.56. Eric Sprott, already the largest shareholder, subscribed for $2,000,000 in the first tranche, acquiring 9,090,910 units and owning 37.4% of the company before the second tranche closing.

Highlights include the River Valley Palladium-Platinum Project, one of North America's largest undeveloped primary palladium projects, currently in the development stage with a Preliminary Economic Assessment released in 2023. Phase 2 of the Newfoundland Gold-Antimony Division summer/fall field program is underway, with a phase 1 grab sample returning as high as 15.2% Sb from Antimony Ridge. The company awaits assay results from the summer Phase 1 field program on its Genesis PGM-Cu-Ni Project in Alaska and is planning Phase 2. NAM has an option agreement with Mineral Resources Ltd. for its Lithium Division and owns 12.7% of MetalQuest Mining.

Each FT Unit includes one flow-through common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of an additional common share at $0.40 for three years. Each NFT Unit includes one common share and one-half of a share purchase warrant, also exercisable at $0.40 per share for three years. Finder’s fees totaled $45,594.99 in cash and 172,902 non-transferable finder warrants, exercisable at $0.26 per share for three years.

The proceeds from the FT Unit private placement will fund exploration and development in Newfoundland, Ontario, and Manitoba, while NFT Unit proceeds will support exploration and working capital. Existing insiders purchased 431,817 NFT Units, a related party transaction under MI 61-101, relying on exemptions from formal valuation and minority shareholder approval requirements.

New Age Metals is focused on critical green and precious metal projects in North America, with divisions for Platinum Group Elements, Gold, Lithium/Rare Elements, and Antimony-Gold, along with an investment in MetalQuest Mining’s Lac Otelnuk Iron Ore Project. The PGE Division includes the River Valley Project and the Genesis PGE-Cu-Ni Project in Alaska. The company is exploring hard rock lithium in the Winnipeg River Pegmatite Field with Mineral Resources Ltd. and supporting research grants for critical metals and lithium pegmatite mineralization.

NAM’s Antimony-Gold division in Newfoundland has completed Phase 1, initiated Phase 2, and received approval under Newfoundland and Labrador’s Junior Exploration Assistance (JEA) Program. The company also holds a 12.79% interest in MetalQuest Mining inc., developing one of North America’s largest iron ore projects.

Management is seeking new mineral acquisition opportunities internationally and is actively seeking an option/joint venture partner for the Genesis PGE-Cu-Ni Project in Alaska.

Harry Barr
Chairman and CEO
Hbarr@newagemetals.com
613 659 2773

Farid Mammadov
faridm@newagemetals.com

Source: New Age Metals Inc.