A Note From Our Chairman
April was another active and productive month for New Age Metals as we continued to advance our strategy of building a diversified portfolio of precious and critical metals projects across Canada and North America.
During the month, our team attended the Northwestern Ontario Prospectors Association (“NWOPA”) 2026 Conference in Thunder Bay, Ontario. This was an important event for New Age Metals, and MetalQuest Mining (TSXV:MQM ~15% ownership) particularly as we continue to expand our presence across Northwestern Ontario through our Kenora Gold and Critical Metals Division, Thunder Bay PGM projects, and our growing position of PGM/ Critical Metal Projects in Ontario’s Ring of Fire region.
At NWOPA, our team had the opportunity to present and showcase New Age Metals to a wide range of stakeholders, including local communities, industry professionals, service providers, and several major and mid-tier mining companies operating in Northwestern Ontario. The conference reinforced what we have been seeing for some time: Northwestern Ontario is becoming an increasingly important jurisdiction for mineral exploration, development, and critical minerals investment.
Following the conference, our team travelled to Kenora, Ontario, where we hosted the grand opening of our new Kenora field office and core facility. Approx. 70 people attended the Open House event on April 11th. The attendees included local politicians, First Nation representatives, regional geologists and engineers, shareholders and other interested parties.
Outside of this facility being our new office, it also hosts a full kitchen, dining room, board room, sleeping quarters and more. This is an important step forward for the Company and is expected to serve as a regional operating hub for our exploration activities in Northwestern Ontario and eastern Manitoba, including our Kenora Gold and Critical Metals Division, Thunder Bay PGM projects, Ring of Fire projects, Manitoba Lithium Division, and broader technical work.
The facility is designed to provide logistical, technical, and administrative support, including office space for field and geological teams, secure storage for equipment and samples, core handling and logging capabilities, and staging support for field crews, contractors and storage for our equipment. We believe this field office will improve efficiency, reduce mobilization time, strengthen coordination across multiple projects, and help create cost savings for shareholders over the long term.
April also marked continued progress in our Ontario Ring of Fire Division. On April 8, 2026, the Company announced the expansion of its Northern Shield PGM-Cu-Ni and Critical Minerals Project to approximately 34,000 hectares. This expansion was completed through staking and increased our land position along interpreted mafic-ultramafic geological trends in one of Canada’s most important emerging critical minerals districts. Our technical team continues to identify opportunities where disciplined staking and project consolidation can add meaningful long-term value for shareholders.
Our current district scale, road accessible with Ontario power lines running through them projects in the mining friendly Kenora Mining District
On April 16th, we also announced the expansion of our Platreef PGM Project through the strategic option of the Gravel Ridge Property, located near the Lac des Îles Mine in Northwestern Ontario. This acquisition adds approximately 740 hectares to the project area, bringing the Platreef land package to approximately 17,630 hectares. Importantly, this project is located in an established PGM district with strong infrastructure, road access, proximity to Thunder Bay, and nearby mining activity. As with all of our projects, we intend to advance this property in a disciplined and systematic manner, beginning with data compilation, field verification, and target refinement.
Another important development during the month was New Age Metals’ increased ownership position in MetalQuest Mining Inc. New Age Metals has exercised its MetalQuest warrants, bringing our ownership to approximately 14.39% of MetalQuest. We believe this investment provides our shareholders with additional strategic exposure to MetalQuest’s 100%-owned Lac Otelnuk Iron Ore Project in Quebec’s Labrador Trough, as well as MetalQuest’s growing portfolio of gold and critical minerals projects in Ontario. We continue to view MetalQuest as an important strategic investment for New Age Metals shareholders.
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Looking ahead, our focus remains clear. We are continuing to advance our flagship River Valley Palladium Project, while also building a broader portfolio of high-quality precious and critical metals projects in strategic jurisdictions. Our recent activity in Northwestern Ontario, including our Kenora field office, Thunder Bay PGM expansion, and Ring of Fire strategy, reflects our belief that this region has the potential to become an increasingly important part of Canada’s critical minerals 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,
