A Note From Our Chairman
March was a productive month for New Age Metals, centered around the world’s largest mining conference, PDAC. Considerable effort went into the conference both before the event, as we organized our meetings and objectives, and afterward, as we followed up on the dozens of leads and meetings generated during the week.
Following PDAC, we arranged transportation for a large group of directors, employees, consultants, and new team members to travel to our Rockport office. There, we completed three and a half days of intensive project planning, set key strategic dates and milestones, established budgets through to the end of the calendar year, and took the opportunity to strengthen relationships in a corporate retreat setting.
We also held one of our professional coaching sessions during this time, with participation from those in Rockport as well as team members joining remotely. We believe New Age Metals is one of the few junior mining companies that incorporates professional coaching into its broader corporate development process. In our view, the quarterly and annual guidance this coaching provides helps set us apart from many of our peers. Those interested in learning more about this aspect of our corporate culture are welcome to contact us.
Behind the scenes, our team continued to advance a broader strategic initiative that we believe is becoming increasingly important to the future of both New Age Metals (“NAM”) and MetalQuest Mining Inc. (“MQM”), in which NAM holds an approximate 10% equity interest.
As a reminder, Rockport is not a typical office for a mining company. We purposely chose a location halfway between Toronto and Montreal that offers very low overhead costs while also including on-site accommodation. In my view, the Thousand Islands is one of the most beautiful places in the world, giving our team the opportunity to step away from the city while staying connected to the type of bush-based work that defines us as a group of exploration and development companies.
One of the most important developments for the Company has been the continued consolidation of prospective precious and critical metals projects in the Kenora Mining District by both NAM and MQM. In recent months, NAM has expanded its regional footprint through the growth of the Bonanza Ridge Gold and Critical Metals Project, as well as through additional gold project acquisitions, including the Double R Gold Project, while MQM has added the West Cameron and East Cameron gold projects. Collectively, we believe this growing land position provides our group with meaningful exposure to an underexplored, yet increasingly active, gold jurisdiction in northwestern Ontario.
Over the next 60 days, shareholders should watch for detailed announcements outlining our exploration plans across the portfolio. These are expected to include updates on our Manitoba Critical Metals Division, our northwestern Ontario and Kenora-region projects, our Ring of Fire assets, our Thunder Bay Mining District projects, and our flagship development-stage River Valley PGM Project.
New Age is pleased to announce that it will attend the Northwestern Ontario Prospectors Association (“NWOPA”) 2026 Conference. The Company is scheduled to deliver a presentation at the conference and will also host a booth. Management encourages shareholders, local stakeholders, and conference attendees to stop by to meet the team and learn more about New Age Metals and its growing portfolio of critical metal and precious metal projects.
In parallel with these acquisitions, NAM and MQM are establishing a Kenora-based field operations office and core facility that will serve as a strategic operating base for our expanding regional activities. This facility is expected to support not only the Kenora-area gold and critical metals projects, but also our broader northwestern Ontario and eastern Manitoba exploration efforts, including NAM’s Manitoba Lithium Division and our Thunder Bay-area projects. The field office is intended to improve efficiency and reduce costs by functioning as a centralized base for field crews, core storage, equipment, logistics, and sleeping quarters. We see this as a practical and scalable move that should benefit both companies as activity increases across the region.
New Age also plan to host an open house on April 11, 2026, from 10am to 3pm at the newly established Kenora field office and core facility. Food and refreshments will be served. We believe this is an excellent opportunity to introduce shareholders and local stakeholders to our growing regional presence and to demonstrate our long-term commitment to responsible exploration in the district.
It was also strategically important for NAM to expand its exposure to gold. Management’s roots are firmly grounded in the gold exploration and development business. I spent many years as the founder and CEO of Freegold Ventures, where we advanced the Golden Summit Project in Alaska. Gold is a sector we know well.
Our board of directors, technical team, and consultants bring extensive experience in identifying, evaluating, and advancing gold opportunities, and we believe that background is highly relevant as we continue to build a stronger pipeline of projects and people to help develop the mining districts we work in including the Kenora mining district.
Recent market conditions have also reinforced the importance of maintaining exposure to gold. Ongoing conflict and geopolitical instability in the Middle East have contributed to volatility across commodity and equity markets, while also renewing investor interest in gold as a traditional safe-haven asset. In our view, this environment has supported stronger sentiment toward gold and, more broadly, reminded the market of the value of high-quality precious metals exposure within a diversified exploration portfolio.
In addition to our work in Canada, management has continued its international business development efforts. During the past several months, we travelled to Japan to meet with major mining companies and trading houses. Those efforts have resulted in a number of promising leads. We have now signed non-disclosure agreements with two groups and are in active discussions with them. While these conversations remain at an early stage, we are encouraged by the quality of interest and believe it reflects growing international attention toward critical minerals and well-positioned North American exploration companies.
New Age Metals continues to maintain a strong and diversified portfolio of precious and critical metals projects across Canada. In addition to advancing our flagship River Valley Palladium Project in Ontario, one of North America’s largest undeveloped primary palladium projects, the Company is also active across several exploration divisions, including the Manitoba Lithium and Critical Metals Division, the Newfoundland Gold-Antimony Division, the Kenora Mining District gold and critical metals portfolio, the Ring of Fire projects, and the Thunder Bay Mining District PGM projects. Collectively, these assets provide NAM with exposure to a broad range of commodities and jurisdictions, while giving the Company multiple opportunities to create value through exploration success, strategic partnerships, and the continued advancement of key development-stage assets. All Projects will have updated budgets within the next 60 days.
As always, our objective remains to build long-term shareholder value through disciplined project generation, strategic acquisitions, responsible exploration, and active business development. I believe the steps we are taking in Kenora, together with our continued efforts internationally, are helping to position New Age Metals for a strong and diversified future.
If you have any questions or would like to speak with us, I encourage you to book a meeting with myself or Farid Mammadov. Whether you are an existing shareholder seeking updates or a prospective shareholder interested in learning more, we would be pleased to connect.
Please use this link to schedule a virtual meeting. You will also find a meeting link on the homepage of our website.
On behalf of the Board and Management, I would like to thank our shareholders and interested parties for your continued support.
+1 613-659-2773
New Age Metals
Chairman & CEO
Harry Barr
Regards,
