Rockport, Ontario — February 24, 2026 — Leads & Copy — New Age Metals Inc. has acquired and consolidated the Double R Gold Project in the Kenora Mining District, northwestern Ontario.
The project now consists of 834 mining claims totaling 17,620 hectares (43,540 acres) in a highly prospective gold district. The acquisition is supported by the region’s established gold mineralization and favorable structural setting.
Recent regional consolidation activity, including Coeur Mining’s $7 billion (USD) acquisition of New Gold Inc. and the Rainy River Mine, reflects ongoing interest in the Rainy River and Kenora districts. The Double R Gold Project is located approximately 35 km northwest of the Rainy River Mine.
Harry Barr, Chairman and CEO, stated that Northwestern Ontario continues to attract renewed investment and consolidation activity, and the timing to secure a large, contiguous land position in the Kenora-Rainy River district is strategic. Barr added that the Double R Project provides New Age Metals and its shareholders with exposure to a highly prospective gold district that benefits from established infrastructure, active exploration, and long-term development momentum.
The company’s objective is to build value through disciplined exploration while positioning itself to participate in the next phase of regional growth. The Double R Project is located only 70km from the newly established Kenora Field Office. New Age Metals has expanded its gold portfolio to five projects encompassing approximately 37,000 hectares (91,429 acres) in the Kenora District of Ontario.
The Double R Gold Project features a large, contiguous land package consisting of 834 mining claims totaling approximately 17,620 hectares in the Rainy River–Kenora gold district. It has a strategic location approximately 35 km northwest of the Rainy River Mine and 17 km south of the Cameron Gold deposit.
The project also features excellent access and infrastructure, including logging roads, nearby Highway 71, and regional power infrastructure.
The company plans to engage with local First Nation communities and intends to pursue opportunities for collaborative and respectful partnerships, consistent with its commitment to responsible exploration.
The project is located within an underexplored Archean greenstone belt within the Wabigoon Subprovince, a geological terrane that hosts multiple gold deposits elsewhere in northwestern Ontario.
Prospective geology includes mafic to felsic metavolcanic rocks, intrusive bodies, and regional structural features interpreted from government airborne geophysical data.
Historical bulk till sampling completed in 1990 reported numerous anomalous gold grain counts, including samples containing up to 25 gold grains within the Project area (Bidwell, 1990).
Historical gold occurrences, including grab samples reported up to 1.7 g/t Au. Grab samples are selective and not necessarily representative of mineralization.
A phased, low-impact exploration approach is planned to prioritize targets for follow-up work and potential drilling.
The Kenora Mining District and nearby areas have historically been underexplored but are emerging as an active exploration and development region, supported by improved commodity prices and renewed industry and investor interest.
The region offers established mining infrastructure and highway access, proximity to power, workforce, and service centers, a favorable permitting environment and community relationships, and recent acquisitions and investments within and adjacent to the district.
The company notes growing support for mineral exploration at the provincial, regional, and municipal levels, including policies and initiatives intended to encourage responsible resource development and investment.
The Double R Gold Project is located within an underexplored portion of the Archean Wabigoon Subprovince greenstone belt, which hosts numerous gold occurrences and deposits elsewhere in northwestern Ontario. Regional geology and geophysical data indicate that the Project area is underlain by mixed mafic to felsic metavolcanic rocks intruded by quartz-feldspar porphyry and tonalite bodies. Government airborne magnetic data further define interpreted structural features consistent with regional deformation patterns. Variations in rock competency and lithological contacts within the Project area are interpreted to be favorable for the development of orogenic-style gold mineralization.
Despite its location between two established gold camps, very limited modern systematic exploration has been conducted over the Project area. Past efforts were sporadic, small-scale, and largely limited to localized prospecting. Little property-scale geophysics, geochemistry, or structural interpretation has been completed across most of the Project.
The combination of prospective host rocks, interpreted structural features, and historical gold grain anomalies indicate that the Project is considered prospective for both high-grade vein-style mineralization and broader intrusion-related gold systems.
Ontario Geological Survey (OGS) airborne magnetic data collected in 2008 highlights folded volcanic sequences, intrusive bodies, and regional-scale structural features across the Project area. These features are interpreted to be consistent with geological environments that host gold mineralization elsewhere in the Wabigoon Subprovince.
The company is planning a phased and systematic exploration program designed to evaluate and prioritize targets across the Project area. The initial phase will focus on compilation and reinterpretation of available geological, geochemical, and geophysical data, alongside the collection of regional-scale geochemical samples and the implementation of selected ground geophysical surveys where appropriate. Airborne geophysical datasets, LiDAR, and other available remote sensing information will also be integrated to support structural interpretation and target generation.
Subject to the results of the initial work, a second phase will focus on more detailed follow-up activities, including infill geochemical sampling, targeted geological mapping, and prospecting to ground-truth priority anomalies and refine exploration targets. Results from these programs will guide subsequent exploration planning, including the potential delineation of drill-ready targets.
The company has recently leased a Kenora-based field operations office and core facility to support exploration activities across northwestern Ontario and eastern Manitoba. The proposed facility would provide centralized logistical, administrative, and technical support for the company’s regional exploration programs.
The facility is intended to support exploration programs only and is not associated with any mineral processing, production, or development activities.
Troy Gallik, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release.
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 three divisions: a Platinum Group Element division, a Lithium/Rare Metals division, an Antimony-Gold Division as well as an investment in MetalQuest Mining’s high purity Lac Otelnuk Iron Project.
The PGM Division includes the 100% owned, multi-million-ounce, 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.In addition to River Valley, NAM owns 100% of the Genesis PGM-Cu-Ni Project in Alaska.
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.
On February 11, 2026, the company also acquired the Platreef PGM Project, a platinum group metals–nickel–copper (PGM–Ni–Cu) exploration property located in northwestern Ontario within the prospective Lac des Iles Igneous Complex.
New Age Metals’ Antimony–Gold division is located in Newfoundland and comprises a 20,950-hectare land package across 11 non-contiguous properties. Six of these properties are situated in the St. Alban’s area, along Canstar’s Swanger and Little River mineralized trends.The remaining five properties are strategically positioned along the same regional geological trend as the past-producing Beaver Brook Antimony Mine and are also located near New Found Gold’s Queensway South Gold Project.
Management has completed Phase 1 exploration and has now finished Phase 2 fieldwork. The Phase 2 program successfully delineated multiple gold–antimony (Au–Sb) trends, and the Company is currently planning follow-up exploration while awaiting additional assay results.
The Bonanza Ridge Gold and Critical Metals Project has been significantly 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.
The Company is establishing a Kenora, Ontario based field operations hub to support exploration activities across Northwestern Ontario and Eastern Manitoba. The proposed facility would provide centralized logistical, technical, and administrative support for regional exploration programs and is expected to improve field efficiency and coordination.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the Company is exploring hard rock lithium and various rare elements such as tantalum, rubidium, and cesium. NAM is developing its lithium division in conjunction with its Farm-in/Joint Venture agreement with Mineral Resources Ltd. (“MinRes”), one of the world’s largest lithium producers.
In April 2024, a $1.5M NSERC Alliance grant was awarded to a collaboration led by the University of Manitoba (Drs. Fayek and Camacho), with academic partners from Lakehead University (Dr. Hollings) and industry partners including New Age Metals and Grid Metals. This research is focused on advancing Canada’s critical metals sector, with New Age Metals’ portion targeting its Bird River lithium properties.
New Age Metals Inc. is supporting a successful $180K Mitacs research grant, awarded in 2023, through its $90K contribution (already accounted for and paid under the Mineral Resources joint venture). This academic partnership with the University of New Brunswick and the University of British Columbia is focused on understanding the origin and controls of lithium pegmatite mineralization in the Cat Lake–Winnipeg River field.
The company is actively seeking an option/joint venture partner for our and its road-accessible Genesis PGM-Cu-Ni Project in Alaska and results from our Summer/Fall Program are expected by the end of the year.
On August 6, 2025, New Age Metals announced anadditional investment in a 4th critical metal. NAM currently owns approximately 9.63% and holds warrants that, if exercised with today’s issued and outstanding shares of MQM, would bring NAM to a 14.6% interest in MetalQuest Mining inc.
MetalQuest Mining inc. is developing one of North Americas largest iron projects, where approximately $120 million has been spent on the project. High-purity iron became a critical metal Federally in Canada and in the Provinces of Quebec and Newfoundland and Labrador in 2024. In the summer of 2025, MQM contracted AtkinsRealis, an international engineering company, to complete a GAP Analysis on the Lac Otelnuk Project and its 2015 Feasibility Study. Results are expected in Q1 2026.
MetalQuest Mining Inc. (“MQM”) has expanded its presence in the Ontario Ring of Fire through the acquisition of both the ROF-1 Project and the recently announced Fishhook Polymetallic Project. The Fishhook Project further strengthens MetalQuest’s regional footprint, targeting polymetallic mineralization prospective for base and critical metals.
Management is currently aggressively seeking new mineral acquisition opportunities on an international scale. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production.
Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities.
Source: New Age Metals
