SAGA Metals Sets the Stage for Innovative Drill Initiatives

SAGA Metals Prepares for Groundbreaking Drilling at Double Mer Uranium Project

VANCOUVER, British Columbia -- SAGA Metals Corp. (TSXV: SAGA, FSE: 20H), an exploration company dedicated to unearthing critical minerals, is excited to announce the beginning of its maiden drill program at the Double Mer Uranium project. This initiative marks an important chapter in the company's journey towards exploring uranium resources.

Focus on the Luivik Zone for Initial Drilling

The maiden drilling program will primarily target the Luivik zone, which lies at the westernmost edge of an 18-kilometer uranium trend discovered through surface sampling and radiometric surveys. By concentrating on the Luivik zone, SAGA aims to evaluate its uranium potential, creating a solid foundation for more extensive exploration efforts in the coming months.

Identified Uranium-Rich Areas

During their preparatory work, the SAGA team pinpointed three primary target areas along the 18 km trend, with Luivik being the first to undergo detailed evaluation. Early signs have revealed the presence of uranium-bearing pegmatites enriched with smoky quartz and iron carbonate—a promising indicator of the conditions suitable for uranium mineralization.

Drilling Scheduled for Early 2025

With plans firmly in place, SAGA is scheduled to commence drilling in early 2025, starting with a minimum of 1,500 meters. The focus will be on systematically gridding and analyzing the anomalies present in the Luivik zone, thereby generating extensive data regarding its uranium potential.

Geographic and Strategic Significance of the Project

Located in eastern-central Labrador, the Double Mer Uranium Project represents SAGA's flagship endeavor, covering 1,024 claims over 25,600 hectares. Situated roughly 90 km from Happy Valley-Goose Bay, this project is underscored by considerable previous exploration data, providing a strong basis for targeted exploration activities.

Throughout the recent field season, the research team at SAGA has been diligently compiling and validating substantial data. This groundwork has led to enhanced clarity regarding potential target zones, thereby reinforcing the decision to initiate drilling at the Luivik zone, known for its high-quality indicators of uranium presence.

Competitive Positioning in Labrador's Uranium Landscape

SAGA envisions the Double Mer Uranium Project as a notable addition to existing significant uranium projects within Labrador's Central Mineral Belt (CMB). Other notable projects in the vicinity include Paladin Energy's Michelin and Atha Energy's recent finds. Early positive surface sample results and geophysical data lend credence to the belief that Double Mer may offer substantial tonnage potential.

Advancing the Project Towards Resource Definition

In its quest to transition from discovery to resource delineation, SAGA is advancing towards a focused drilling program spanning between 1,500 and 2,500 meters within the Luivik zone. The objective of this operation is to verify uranium concentrations and take initial steps in defining the uranium resources present, marking a pivotal point in establishing Double Mer as a key project within the Labrador uranium sector.

Insights from the Team

SAGA's Chief Geological Officer, Michael Garagan, expressed enthusiasm about the approaching drill program, describing it as a crucial milestone for the company. He noted, "The Luivik zone target is incredibly compelling, stemming from our rigorous work during the past field season. With our recent financial developments, we are now poised to translate plans into action and explore the Luivik zone, which is conveniently near our camp. This initial drilling will serve as a practical step for all involved."

The Luivik Zone: A Focused Exploration Target

The decision to prioritize the Luivik zone stems from its distinct uranium geochemistry and visible alterations. Recent assessments indicate that this area potentially hosts Iron phase IOCG (Iron Oxide Copper Gold) fluid traits, bolstered by substantial concentrations of smoky quartz and iron carbonate staining.

Logistical Advantages and Efficient Project Execution

Importantly, the proximity of the Luivik zone—just a kilometer away from Double Mer's main camp—presents significant logistical advantages, ensuring efficient drilling operations. The established snowmobile trails facilitate easy access for drilling teams, enhancing both practicality and cost-effectiveness in executing this exploration program.

Exceptional Sample Results Detected

Recent sample results from the Luivik zone indicate an impressive width of 300 meters, featuring grades that peak at over 1,100 ppm U₃O₈ to as high as 3,692 ppm in individual samples. Furthermore, uranium count radiometrics suggest that the anomalous pegmatites may extend well beyond one kilometer.

Future Outlook for SAGA Metals

SAGA Metals Corp. is dedicated to exploring vital minerals that are essential for a green energy future. With plans extending beyond their uranium initiatives into lithium, titanium, vanadium, and iron ore exploration, SAGA is well-positioned to contribute to the ongoing transition toward sustainable energy practices.

For additional information, please contact:
SAGA Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
Website: www.sagametals.com

Frequently Asked Questions

What is the Double Mer Uranium Project?

The Double Mer Uranium Project is SAGA Metals' flagship project located in eastern-central Labrador, focusing on an 18-kilometer uranium trend.

When is drilling scheduled to start?

Drilling is scheduled to commence in early 2025, with an initial plan of 1,500 meters.

What are the primary targets for the drill program?

The main focus will be the Luivik zone along the identified uranium trend.

What potential does the Luivik zone hold?

The Luivik zone displays promising signs of uranium mineralization and significant geochemical indicators.

What is SAGA Metals Corp.'s overall goal?

SAGA's goal is to confirm uranium resources and contribute to the green energy transition through critical mineral exploration.

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