New Age Metals Acquires Platreef PGM Project in Ontario
Rockport, Ontario — February 11, 2026 — Leads & Copy — New Age Metals Inc. has acquired the Platreef PGM Project, a platinum group metals–nickel–copper (PGM–Ni–Cu) exploration property in Northwestern Ontario.
The Platreef PGM Project is located within the Lac des Iles Igneous Complex, an area that hosts Canada’s only primary palladium mine.
According to the company, the acquisition will expand its PGM Division and strengthen its strategic footprint in a mining district with infrastructure, road access, and year-round exploration potential, approximately 80km from Thunder Bay.
The Platreef PGM Project provides exposure to palladium (Pd), platinum (Pt), nickel (Ni), and copper (Cu) within mafic–ultramafic intrusive geological settings.
Platinum group metals are recognized as critical minerals by the Government of Canada, due to their importance in emissions control technologies, clean energy systems, and industrial applications. The Platreef PGM Project aligns with Canada’s Critical Minerals Strategy, which aims to support domestic supply chains and resource development.
NAM Chairman and CEO Harry Barr said the acquisition of the Platreef PGM Project represents a strategic addition to New Age Metals’ PGM pipeline. Barr added that the project is located in a PGM district with infrastructure and geological indicators, and that the company’s objective is to be the most aggressive PGM explorer and developer in Canada.
The Platreef PGM Project comprises 834 mining claims totaling approximately 16,680 hectares (~41,200 acres) in Northwestern Ontario, within the Lac des Îles Igneous Complex.
The Lac des Iles Mine, Canada’s only primary palladium-producing operation, is owned and operated by Impala Canada Ltd., a subsidiary of Impala Platinum Holdings Limited.
New Age Metals intends to engage and consult with local First Nations, in accordance with the company’s policy of collaboration with Indigenous communities.
The geological setting of the project is interpreted to be prospective for intrusion-hosted PGM–Ni–Cu mineralization, based on mafic–ultramafic intrusive units and historical exploration data. Magnetite-bearing gabbroic intrusions and sulphide-bearing zones have been reported in historical exploration programs.
Multiple untested or underexplored intrusive and geophysical targets have been identified across the property. The project is a strategic addition to New Age Metals’ Platinum Group Metals project pipeline, complementing the Company’s River Valley PGM Project and recently acquired Northern Shield PGM Project (Ontario) and Genesis PGM–Cu–Ni Project (Alaska).
The property is considered prospective for intrusion-hosted PGM mineralization based on the presence of magnetite-bearing gabbroic intrusions, above-background palladium values in historical surface samples, and sulphide-bearing zones spatially associated with intrusive contacts, along with coincident magnetic and induced polarization (IP) anomalies.
Historical drilling intersected sulphide mineralization, but has not defined PGM grades of economic interest. Previous exploration is interpreted to have been constrained by limited mechanical stripping, incomplete understanding of intrusive geometry, and drill orientations.
The Platreef PGM Project is located adjacent to the Lac des Iles PGM Mine, operated by Impala Canada Ltd., a wholly owned subsidiary of Impala Platinum Holdings Limited (Implats; JSE: IMP; OTCQX: IMPUY), which reports proven and probable mineral reserves of 40.9 million tonnes grading 2.31 g/t Pd, containing 3.04 million ounces of palladium.
New Age Metals intends to advance the Platreef PGM Project through a phased exploration program focused on geological understanding, defining priority targets, and advancing the project toward potential drill testing.
The company plans to compile and review historical geological mapping, drill data, geophysical surveys, and government datasets, conduct field verification including mapping, prospecting, and lithogeochemical sampling, complete selective mechanical stripping, and undertake additional ground-based geophysical surveys.
Priority targets will be advanced to diamond drilling, subject to results, permitting, and available funding. The company will also engage early with local First Nations and stakeholders.
Troy Gallik, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this release.
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of critical green metal projects in North America. The company has a Platinum Group Element division, a Lithium/Rare Metals division, an Antimony-Gold Division, as well as an investment in MetalQuest Mining’s (TSXV:MQM | OTC:MQMIF) high purity Lac Otelnuk Iron Project.
The PGM Division includes the River Valley Project, and NAM owns 100% of the Genesis PGM-Cu-Ni Project in Alaska. The company recently expanded its Platinum Group Metals portfolio through the acquisition of the Northern Shield PGM Project in Ontario’s Ring of Fire region.
New Age Metals’ Antimony–Gold division is located in Newfoundland and comprises a 20,950-hectare land package across 11 non-contiguous properties. Management has completed Phase 1 exploration and Phase 2 fieldwork and is currently planning follow-up exploration while awaiting additional assay results.
The Bonanza Ridge Gold and Critical Metals Project has been expanded with the option agreements for the Lavender Lake and South Gibi Lake properties, adding a combined ~5,216 hectares (~12,889 acres) of prospective ground in the Kenora Gold District of northwestern Ontario.
The Company is establishing a Kenora, Ontario based field operations hub to support exploration activities across Northwestern Ontario and Eastern Manitoba.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field. NAM is developing its lithium division in conjunction with its Farm-in/Joint Venture agreement with Mineral Resources Ltd. A minimum budget to maintain the Projects has been approved by Mineral Resources Ltd for May 2025 to April 2026.
In April 2024, a $1.5M NSERC Alliance grant was awarded to a collaboration led by the University of Manitoba. This research is focused on advancing Canada’s critical metals sector, with New Age Metals’ portion targeting its Bird River lithium properties.
New Age Metals Inc. is supporting a $180K Mitacs research grant awarded in 2023. 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.
The Company is actively seeking an option/joint venture partner for its road-accessible Genesis PGM-Cu-Ni Project in Alaska.
On August 6, 2025, New Age Metals announced an additional investment in a 4th critical metal and currently owns approximately 9.63% and holds warrants that, if exercised with today’s issued and outstanding shares of MQM, would bring NAM to a 14.6% interest in MetalQuest Mining inc.
MetalQuest Mining inc. is developing one of North Americas largest iron projects, where approximately $120 million has been spent on the project.
MetalQuest Mining Inc. has expanded its presence in the Ontario Ring of Fire through the acquisition of both the ROF-1 Project and the Fishhook Polymetallic Project.
Management is currently seeking new mineral acquisition opportunities on an international scale.
Investors are invited to visit the New Age Metals website.
Source: New Age Metals
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