New Age Metals Expands Its PGM-NI-CU Portfolio With Strategic Lac Des Iles Acquisition In Northwestern Ontario

Core Viewpoint - New Age Metals Inc. has acquired the Platreef PGM Project, enhancing its position in the platinum group metals sector and aligning with Canada's Critical Minerals Strategy [1][3][4]. Company Overview - New Age Metals is a junior mineral exploration and development company focused on critical green metal projects in North America, with divisions in Platinum Group Elements, Lithium/Rare Metals, and Antimony-Gold [14][15]. Acquisition Details - The Platreef PGM Project consists of 834 mining claims covering approximately 16,680 hectares (about 41,200 acres) in Northwestern Ontario, located within the Lac des Îles Igneous Complex [5][7]. - The project is strategically positioned near Canada's only primary palladium mine, operated by Impala Canada Ltd., which has proven and probable mineral reserves of 40.9 million tonnes grading 2.31 g/t Pd [10]. Strategic Importance - The acquisition strengthens the company's PGM Division and enhances its strategic footprint in a well-established mining district with robust infrastructure and year-round exploration potential, approximately 80 km from Thunder Bay [2][5]. - The project aligns with the Government of Canada's recognition of platinum group metals as critical minerals essential for emissions control technologies and clean energy systems [3]. Exploration Potential - The geological setting of the Platreef PGM Project is interpreted to be prospective for intrusion-hosted PGM-Ni-Cu mineralization, supported by historical exploration data indicating the presence of magnetite-bearing gabbroic intrusions and sulphide-bearing zones [8][11]. - Historical exploration has identified multiple untested or underexplored intrusive and geophysical targets across the property [5][8]. Community Engagement - The company plans to engage and consult with local First Nations, adhering to its policy of meaningful collaboration with Indigenous communities [5]. Future Plans - New Age Metals intends to advance the Platreef PGM Project through a phased exploration program aimed at refining geological understanding and defining priority targets for potential drill testing [11].