New Age Metals Expands Bonanza Ridge Gold And Critical Metals Project/Strategic Acquisition Of Lavender Lake & South Gibi Lake Properties

New Age Metals (TSX.V: NAM) has optioned the 1,335-ha Lavender Lake and 3,881-ha South Gibi Lake properties ~25 km southeast of Kenora, consolidating roughly 8,500 ha into its Bonanza Ridge Gold & Critical Metals Project; the package can be acquired 100% subject to a 2% NSR (buy-down to 1% for $1.0m). Due-diligence grab sampling on Lavender confirmed notable surface copper and gold mineralization—highlighted by assays up to 10,014 ppm Cu and 172 ppb Au at the Pogson Trench—and the ground offers multiple untested structural targets with year‑round access and nearby 240 kV power. The transaction (modest staged cash/share payments, TSXV approval required) materially expands NAM’s district-scale exploration footprint and supports a follow-up target-generation and drill campaign, although the company cautions samples are selective and preliminary and do not establish an economic deposit.

Analysis

New Age Metals announced an option agreement effective December 8, 2025 to acquire the Lavender Lake (1,335 ha) and South Gibi Lake (3,881 ha) properties, expanding its Bonanza Ridge Gold and Critical Metals Project to roughly 8,500 ha in the Kenora Gold District. The agreement grants NAM the option to acquire 100% subject to a 2% NSR (buy-down to 1% for $1.0m) and modest staged cash/share payments totaling approximately $202,500 in cash across the two properties, with share issuances tied to a 10-day trading average (minimum $0.255).

A mid‑October due‑diligence program returned selective grab samples with significant surface copper and gold anomalies, highlighted by 10,014 ppm Cu and 172 ppb Au at the Pogson Trench, plus multiple multi-thousand ppm Cu results, confirming sulphide-hosted mineralization along the regional Witch Bay–Gibi Lake strain zone. NAM highlights minimal modern exploration and nearby 240 kV power and year‑round access, positioning the package for target generation, structural modelling and a future drill campaign.

Key near‑term drivers are TSXV approval, formal target prioritization and first-pass drilling; principal risks are the selective nature of grab samples (company cautionary note), the need for systematic geophysics/drilling to establish continuity, potential dilution from share issuances, and the $1.0m NSR buy‑down cost if pursued.

Key Decisions for Investors

• Consider a speculative, size‑limited exposure to NMTLF ahead of systematic geophysics and drill targeting, recognizing this is early‑stage exploration with high binary risk
• Monitor NAM disclosures for TSXV approval, a published drill program timeline and drill permit milestones as primary near‑term catalysts
• Factor in potential dilution from the staged share issuances and the contingent $1.0m cost to buy down the NSR when modelling capital needs and upside
• Require follow‑up assay suites and drill intercepts that demonstrate continuous sulphide‑hosted mineralization before upgrading conviction; hedge or limit position until such results are delivered