New Age Metals Inc. Expands Its Strategic Gold-Antimony Land Package in Central Newfoundland

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Highlights

  • Expansion of Land Holdings: New Age Metals (NAM) has successfully map-staked an additional 42 mineral claims, making up two mineral licenses, and covering 1,050 hectares of crown land in Newfoundland and Labrador.
  • Strategic Location: These newly acquired properties are situated along the same geological trend as the Beaver Brook Antimony Mine, Canada’s only primary antimony producer, and in close proximity to New Found Gold Corp.’s Queensway South Project.
  • Total Land Position: The latest acquisitions increase NAM’s total staked land package in Newfoundland to 19,125 hectares (47,266 acres) across eight non-contiguous properties, reinforcing the company’s position for new critical mineral discoveries in areas historically dominated by precious and base metal exploration
  • Market Opportunity: Au prices are at historic highs of ~US$3,000/ounce, whereas Sb prices markedly increased from early 2024 to ~US$50,000/tonne and should continue to rise as North America scrambles for sources of this critical metal after China stopped exporting antimony in late-2024[1].
  • Go Forward Plan: The Company’s technical consultants are actively compiling and interpreting geological, geochemical, and geophysical datasets to define high-priority target areas for field follow-up in summer 2025.

March 20, 2025 – New Age Metals Inc. (TSX.V: NAM | OTCQB: NMTLF | FSE: P7J) (“NAM” or the “Company”) is pleased to announce the successful map-staking of two new prospective gold-antimony (Au-Sb) properties in north-central Newfoundland. These two properties are in addition to one previously staked property along strike of the Beaver Brook Antimony Mine in north-central Newfoundland and five previously staked properties adjacent to and along strike of known Au-Sb occurrences in the St. Alban’s area of south-central Newfoundland1.

Harry Barr, Chairman and CEO commented, “NAM is delighted to secure this additional ground over such a highly prospective area, strategically located along trend from the Beaver Brook Sb Mine and adjacent to the Queensway South Au Project. Our technical team is diligently reviewing existing data, refining target selections, and planning for an aggressive fieldwork program across all eight of our new Au-Sb properties in the summer of 2025. With historically high prices for both gold and antimony, we are eager to advance exploration efforts on our entire land package. The Fastness and Palisade Properties will be top priorities for our 2025 summer exploration program, given their strategic location and geological setting.”

Two New Properties on the Under-Explored Beaver Brook Sb (Au) Trend
  1. Fastness Property (Figures 1 and 2)

NAM has strategically staked 29 claims covering 725 ha, naming it the Fastness Property.
This property is located 2 km east of NAM’s previously staked Sentinel Property, positioned between the past-producing Beaver Brook Sb Mine (~4 km north) and New Found Gold Corp.’s Queensway South Gold Project (~3 km south) (Figure 2). Fastness is also situated
~2 km from New Found Gold’s Aztec, Hornet, and Greenwood Pond Targets, where numerous rock samples have returned values ranging from 3 g/t to >10 g/t Au3.

Geologically, Fastness lies along the southern extension of the Beaver Brook Mine lithostructural trend, an area recognized for its highly prospective structural extensions of known high-grade gold and antimony mineralization.

2. Palisade Property (Figures 1 and 2)

Approximately 5 km to the west, NAM has staked 13 claims covering 325 ha and named it the Palisade Property. This Property is situated 2 km along trend to the northeast from NAM’s  previously staked Sentinel Property (Figure 2). Generally, Palisade occurs along the southwest extension of the Beaver Brook Mine lithostructural trend and targets extensions of known high-grade Sb (Au) mineralization.

Regional Significance

The Beaver Brook Sb Mine was Canada’s only primary antimony producer, with a historical resource of 2.2 Mt grading 3.99% Sb at a 1.5% cut-off grade (Sandeman et al., 2018)[1].

The Queensway South Gold Project is the ~80 km long southern extension of the highly gold mineralized trend at Queensway North3.  The project has seen a marked increase in exploration efforts over the past 3 years (2022 to 2024) totalling 19,980 metres of diamond drilling in 89 holes, 1,200 rock samples, and 9,900 soil samples. Recent highlights include:

  • Astronaut Zone: 19.0 g/t Au over 3.15 metres in drill hole NFGC-QS-22-20
  • Nebula Zone: 4.92 g/t Au over 3.05 metres in drill hole NFGC-QS-22-25
  • Camp Zone: 1.2 g/t Au over 16.80 metres in drill hole NFGC-QS-24-89 and a 479 g/t Au grab sample from surface.

NAM’s current portfolio of eight non-contiguous Au-Sb exploration properties totalling 19,125 ha in north-central and south-central Newfoundland is shown in Figure 3.

Figure 1. Location of NAM’s newly map-staked Fastness and Palisade Au-Sb Properties in south-central Newfoundland. Note that the staking of the Sentinel Au-Sb Property was previously announced in a Company press released dated February 27, 2025.
Figure 2. Location of NAM’s new Fastness and Palisade Au-Sb Properties in the Beaver Brook Antimony Mine Area of north-central Newfoundland. Note the close proximity of all three NAM’s Properties here, particularly Fastness, to New Found Gold Corp.’s Queensway South Gold Project.
Figure 3. Location of NAM’s 8 Au-Sb Properties (green) relative to other nearby Au-Sb projects in Beaver Brook Sb Mine and St. Alban’s areas of north-central and south-central Newfoundland.
Moving Forward

The addition of the Fastness and Palisade Properties to NAM’s exploration property portfolio presents a significant opportunity for gold-antimony (Au-Sb) discoveries. The Company’s technical consultants are actively compiling and interpreting geological, geochemical, and geophysical datasets to define high-priority target areas for field follow-up in summer 2025.

In addition to these recently staked properties, NAM is aggressively assessing more properties in Newfoundland and elsewhere in Canada for future acquisitions.

Qualified Person

Dr. William Stone, Ph.D., P.Geo., NAM’s Lead Geoscience Consultant and a Qualified Person (“QP”) as defined by NI 43-101 has reviewed, prepared and approved all the scientific and technical information disclosed in this press release.

About NAM

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America. The Company has two divisions: a Platinum Group Element division and a Lithium/Rare Element 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, situated 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. (“MinRes”), one of the worlds largest lithium producers. A budget for May 2025 to April 2026 will be submitted to Mineral Resources Ltd (MRL, ASX: MIN) for approval. On June 17th, 2024, NAM announced the participation in the University of Manitoba’s sustainable mineral exploration grant for $1.5 million, which will be shared equally with Grid Metals. The University of Manitoba researchers are poised to unlock more sustainable ways to extract mineral resources, thanks to a $1.5 million grant from the Natural Sciences and Engineering Research Council (“NSERC”). By harnessing the collective expertise of academia, industry, and government, the complex challenges facing the critical minerals industry can be addressed to create sustainable solutions for the future.

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.

The Company is actively seeking an option/joint venture partner for its River Valley Palladium Project and its road-accessible Genesis PGE-Cu-Ni Property in Alaska.

Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.

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On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

[1]New Age Metals (2025). New Age Metals Inc. Stakes New Gold-Antimony Properties in Newfoundland and Labrador. Company press release dated February 27, 2025. Available at: https://newagemetals.com/category/press/. 

[2]Sandeman et al. (2018). Beaver Brook Antimony Mine Revised: An update on operations and new structural and geological observations. Current Research Newfoundland and Labrador Department of Natural resources. Geological Survey Report 18-1, p. 123-152.

[3]New Found Gold Corp. Website (March 2025). Available at: https://newfoundgold.ca/project/queensway-project/