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| It’s good to have one great project. It’s great to have many more.
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| That’s the essential story of New Age Metals (NAM.V; NMTLF.OTC) — a company that boasts one world-class platinum asset...just acquired another...and sports one of the most valuable and diversified metals portfolios around today.
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| The catch? That wide-ranging story has confused the market and kept the company’s market value undeservedly restrained.
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| But as you’re about to see, that could change dramatically in the days just ahead....
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| On The Ground Floor In North American PGMs
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| Most investors say they want exposure to platinum group metals.
...But few can find it in a stable jurisdiction with real scale and a clear path to value creation.
New Age Metals’ flagship River Valley Palladium Project sits about 100 road-kilometers from Sudbury, in one of the world’s best-known Ni-Cu-PGM districts with major processing and metal recovery facilities nearby.
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| And River Valley is not a prospect: It boasts a sizable mineral resource base...plus a 2023 PEA...plus a long runway for expansion.
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| Here’s the part that tends to get overlooked: Primary PGM deposits are rare outside South Africa and Russia and North American development-stage PGM assets are even rarer.
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| The Flagship:
River Valley’s Scale and Stage
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| River Valley is big — covering about 107 square kilometers — and has seen extensive drilling with 733 holes totaling more than 155,000 meters.
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| The 2021 updated mineral resource estimate outlines 2.25 million ounces palladium+platinum+gold (Pd+Pt+Au) in the Measured and Indicated categories, plus another 1.7 million ounces in the Inferred category.
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| Those are ounces in the ground — not theoretical leverage. They are the foundation for studies, partner discussions and re-rating potential as the company improves economics and grows the resource footprint.
And that’s exactly what management is aiming to do next.
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New Age Metals’ River Valley Project already boasts a multi-million-ounce resource, yet has only been explored to a fraction of the depth of similar mines.
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| A 2023 PEA
...Plus An Upcoming Catalyst
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| New Age completed a 2023 Preliminary Economic Assessment at River Valley with an after-tax NPV(5%) of $140 million and after-tax IRR of 11% using assumed metal prices of US$2,150/oz palladium, US$1,050/oz platinum and US$4.00/lb copper.
That study also makes the next step obvious: enhance recoveries and expand mineral resources.
New Age is advancing both. And in regard to recoveries, consider this:
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| The company is advancing to a phase two study using a metal recovery process called PLATSOL™, developed by engineering consultants SGS Canada.
The initial studies using this process reported big improvements in metal recovery rates compared to the standard processing assumptions used in the 2023 PEA. Recoveries in one of two zones tested reached 93% palladium, 88% platinum, 98% gold, 99% copper and 98% nickel...while the second zone yielded 93% palladium, 85% platinum, 98% gold, 100% copper and 98% nickel.
As remarkable as those recoveries may be, New Age and its consultants think they can do even better in phase two, which will involve expanded and more detailed tests.
If successful, the PLATSOL process holds the potential to radically cut costs and improve recoveries not only at River Valley, but for similar projects around the world.
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| Importantly, New Age has also laid out a 2026 program that includes geophysics on the southern extension at the Mustang zones to generate high-priority drill targets.
In other words: There is a built-in news flow engine here pointing toward resource growth, better recoveries and results from follow-up drilling.
Each of these holds the potential to quickly change the narrative and New Age Metals’ valuation.
But River Valley is only the anchor.
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With a diversified portfolio of projects in PGMs, gold, lithium, copper, nickel, antimony and more, New Age Metals is a “one stop shop” for investors seeking to capitalize on today’s powerful supply/demand dynamic for critical metals.
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| The Portfolio:
Multiple Shots on Goal
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| Most juniors sell you one commodity and one property. New Age Metals is different by design.
It is building leverage across PGMs...lithium...antimony...gold and more — and doing it in mining-friendly North American jurisdictions with a project generator mindset.
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| If you believe we are headed into a period where strategic metals stay strategic and supply security stays political then a diversified portfolio can be an advantage, not a distraction.
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| This is what is multiplying the potential behind River Valley.
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| Lithium And Rare Metals With A Real Partner
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| New Age’s lithium division holds a district-scale land position in Manitoba’s Winnipeg River Pegmatite Field with not only lithium, but also associated rare metals such as tantalum, cesium, rubidium, gallium and beryllium.
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| This is a project portfolio in itself, and it’s advancing.
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| The projects are advanced under a joint venture with Mineral Resources Ltd, and the company notes roughly $10.5 million spent to date by that partner.
That matters because in this market, funded work is its own catalyst: It keeps the drill bit turning. It keeps targets moving forward. It reduces the financing pressure on the junior.
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| Gold And Antimony In Newfoundland
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| Antimony has become one of those metals the market wakes up to all at once...and New Age positioned itself early.
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| Consider the benefits of being the early mover: The company’s Newfoundland gold-antimony division now includes no less than 765 mineral claims totaling 20,950 hectares across 11 non-contiguous properties acquired in 2025.
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| Recent exploration returned exceptionally high-grade results, including grab samples of up to 51.9% antimony and 46.2 g/t gold, confirming a robust and evolving mineralizing system. These results also highlight multiple mineralized zones, demonstrate strong polymetallic potential with associated silver, lead and other base-metal values, and support the emergence of a district-scale corridor .
Remember: Antimony is one of the most exciting commodities for investors going forward, being high value, supply constrained and strategically important for Western supply chains.
That is exactly the kind of thematic tailwind that can turn early-stage discoveries into headline projects.
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| Plus...Ontario Gold:
A Growing Landbank In The Right Districts
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| While River Valley remains the flagship, New Age has also been building a meaningful gold footprint in Ontario.
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| In the Kenora area the company highlights Bonanza Ridge as a district-scale concept with multiple high-grade gold occurrences at surface, including select grab samples up to 127 g/t gold, plus strong infrastructure and drill-ready permits.
It also added the Double R Gold Project totaling 17,620 hectares in the Rainy River–Kenora district near major regional assets.
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| Get the theme now? New Age is no single-commodity junior in gold or any other metal. It is about adding discovery torque and optionality at a time when premier metal assets are being consolidated and high-quality land positions can become valuable chess pieces.
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| Ring Of Fire Optionality
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| Then there is Ontario’s “Ring of Fire.”
New Age has a large land position in this high-profile district through its Northern Shield project. Even better: That project was acquired by staking — with no option payments and no earn-in obligations.
In today’s red-hot mining exploration market, the Ring of Fire is due for a general rerating...and New Age has gotten a dominant position there before the capital wave, not after.
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| The Strategic Angle:
Eric Sprott’s Approximate 30% Stake
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| New Age Metals’ remarkable project portfolio across a range of critical metals gives it tremendous potential value as this commodity supercycle progresses.
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| And that point has been validated by one of today’s smartest investors, as evidenced by the approximate 30% ownership position held by Eric Sprott.
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| When a well-known resource financier holds that much stock, the market pays attention to milestones, financings and momentum.
And that’s just the start…
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| The “Extra” Asset:
A Meaningful Stake In MetalQuest Mining
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| New Age also holds a significant equity interest in MetalQuest Mining Inc., which provides exposure to a separate portfolio and a different kind of optionality.
The company currently owns about 9.9%, but has also noted that warrants could lift that position meaningfully on a fully diluted basis.
MetalQuest’s core value driver is large-scale iron ore development optionality at the Lac Otelnuk project, where significant historical investment has already been made.
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| This gives New Age shareholders another angle of upside that is not perfectly correlated to palladium, platinum or lithium.
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| In a market that can rotate quickly between themes, that kind of embedded optionality can be worth more than the market credits today.
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| Built For A Re-Rating
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| New Age Metals is not trying to guess the single next winner; it’s building a portfolio that can win in several ways:
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- A development-stage PGM flagship with real scale and near-term technical catalysts
- A partnered lithium and rare metals position with meaningful third-party spend
- Gold and antimony exposure with discovery torque
- Ontario gold consolidation with district-scale land positions
- Ring of Fire optionality with low-cost entry
- A strategic equity position in a separate company with large-scale iron ore leverage
- And sitting over it all is the kind of strategic ownership that keeps the market focused
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| If you’re looking for a junior story with multiple paths to value — and a flagship asset that can carry the narrative — this is one worth a closer look now.
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| CLICK HERE
To Learn More About New Age Metals
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