New Age Metals completes Phase 1 antimony-gold reconnaissance program, Newfoundland

New Age Metals Inc. [TSXV: NAM; OTCQB: NMTLF; FSE: P7J] reported completion of its Phase 1 field reconnaissance exploration program on its Sb-Au properties located in the Gander area of central Newfoundland and in the St. Alban’s area of south-central Newfoundland.

Highlights of the Phase 1 Field Recon Work: A total of 286 rock samples (assays pending) were collected from mineralized, deformed, and altered outcrops and float boulders across multiple mineral licenses, including Citadel, Rampart, Redoubt, Fort, Sentinel, Fastness, Palisade, and Sentry; abundant sulfide-bearing quartz veins with widespread pyrrhotite, pyrite, chalcopyrite, and arsenopyrite were identified, particularly in the St. Alban’s region. Elevated levels of Sb, Cu, Pb, Zn, and As were detected using a handheld pXRF device.

A due diligence site visit was conducted on the adjacent Antimony Ridge Property, confirming the presence of high-grade antimony-quartz veins in outcrop. This led to the recent option agreement, further consolidating NAM’s land position along the potentially emerging Sb-Au trend in the St. Alban’s region. NAM’s technical team eagerly awaits the laboratory assay results from Phase 1 samples. When received, a comprehensive review will be undertaken to prioritize and guide the anticipated Phase 2 exploration program.

Harry Barr, Chairman and CEO stated, “The initial field results from NAM’s Sb-Au properties in the Gander and St. Alban’s areas validate our exploration strategy and highlight the region’s potential to host multiple types of mineralization. The field observations reveal a compelling combination of prospective stratigraphy, structural complexity, confirmed high-grade antimony-quartz veins, and widespread sulfide-bearing quartz systems, all of which underscore the strength and potential of these targets. Advancing this work aligns well with the current historically high gold and antimony prices. We look forward to receiving assay data for these highly prospective Sb-Au properties and continuing to build on their significant potential.”

Phase 1 Field Program Observations: The Phase 1 program successfully covered large areas of NAM’s Sb-Au properties as part of a first-pass reconnaissance exploration effort. A total of 286 rock samples were collected and 63 geopoints mapped, effectively documenting lithologies, mineralogy, alteration, and structural features across the traversed areas. The company’s technical consultants from Axiom Group validated the majority of historical mineral occurrences documented in the Newfoundland government’s Mineral Occurrence Database (MODS) and identified several new, promising occurrences.

In the Beaver Brook area, the team successfully accessed and assessed all claim blocks, except for the Garrison block. Despite limited outcrop exposure, numerous encouraging boulders and float samples were collected. Given the close proximity to the Beaver Brook Antimony Mine and New Found Gold’s Queensway South Gold Project, these results are highly promising. NAM’s technical team is now undertaking a thorough review of all field data to develop a refined conceptual model and an exploration strategy tailored for these properties.

South Central Sb-Au Properties (St Alban’s area properties near Bay d’Espoir, Newfoundland): The St. Alban’s properties revealed abundant sulfide-bearing quartz veins, characterized by widespread pyrrhotite and pyrite, and veins that host chalcopyrite and arsenopyrite. The field crew, led by Axiom Group, also evaluated the recently optioned Antimony Ridge property Although exposure was limited, the team confirmed the presence of antimony-quartz veins over an exposed strike length of approximately 400 metres. Localized zones contained at least three foliation-parallel quartz-stibnite veins ranging from 10 to 30 cm in thickness.
Notably, this occurrence has never been systematically explored or drill-tested to date. Additionally, in the southeast portion of the Antimony Ridge property, many (>10) pieces of massive stibnite float were discovered, likely derived from a nearby local source.

Minimal time was spent on the Fort property; however, historical galena occurrences hosted in meta-psammitic rocks of the Baie d’Espoir Group were confirmed, along with several newly identified, undocumented occurrences of galena within broad silicified zones.
At Redoubt, the teams were highly encouraged by oxidized cliffside outcrops displaying large-scale faulting. Numerous sampling stations yielded anomalous arsenic readings on the pXRF, likely derived from arsenopyrite.

On the Rampart property, a new zinc occurrence was mapped, spatially associated with strongly deformed (isoclinally folded) rocks of the Little Passage Gneiss Group. This occurrence suggests potential polymetallic mineralization and opens new target areas for follow-up exploration.

These findings align well with recent Newfoundland Geological Survey studies which documented structurally controlled antimony-arsenic-gold mineralization within the Baie d’Espoir Group of the St. Alban’s Region and highlighted the importance of structural complexity and repeated fluid flow events in localizing mineralization.

Grab samples were analyzed on-site using a Thermo Scientific™ Niton™ XL5 Plus handheld XRF, operated by Axiom Group staff. The portable X-Ray Fluorescence data is preliminary and intended primarily as a rapid screening tool to assist with field target prioritization and mineral identification during early-stage exploration.

NAM’s properties in Newfoundland amount to approximately 19,800 hectares in
11 non-contiguous properties. Six of these properties are in the St. Alban’s area, along Canstar’s Swanger and Little River mineralized trends. The remaining five properties are strategically located along the same geological trend as the past-producing Beaver Brook Antimony Mine and in proximity to New Found Gold’s Queensway South Gold Project.

New Age Metals has three critical metal divisions: a Platinum Group Element division, a Lithium/Rare Element division, and a Gold-Antimony Division.

The PGE Division includes the 100%-owned, multi-million-ounce, district-scale River Valley Project, one of North America’s largest undeveloped Platinum Group Element Projects, 100 km by road east of Sudbury, Ontario. In addition to River Valley, NAM owns 100% of the Genesis PGE-Cu-Ni Property in Alaska.

The company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the company is exploring for 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., one of the world’s largest lithium producers. A minimum budget to maintain the projects has been approved by Mineral Resources for May 2025 to April 2026. The companies agreed to the minimum budget due to current lithium pricing and forest fire dangers in the immediate area.

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. Approximately $107,000 of work is planned on New Age’s properties in 2025. The early work will, subject to precautions for regional wildfire, will include core sampling and field visits starting this summer. The project will likely extend beyond the original 3-year term, due to its delayed start.

New Age Metals 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. Fieldwork for the MSc. thesis has been completed, while the post-doctoral phase is ongoing at UNB.
This collaboration provides access to top-tier scientific expertise and equipment, significantly reducing analysis costs and adding long-term value to the project.

Management is currently seeking new mineral acquisition opportunities. The company is seeking an option/joint venture partner for its River Valley Palladium Project and its road-accessible Genesis PGE-Cu-Ni Property in Alaska.