Saga Metals to Acquire Wolverine Heavy Rare Earth Project in Labrador

Saga Metals Corp. ( (TSE:SAGA) ) has provided an update.

Saga Metals has signed a definitive share purchase agreement to acquire Catalyst Rare Metals, giving it full ownership of the Wolverine heavy rare earth element project in central Labrador, Canada. The royalty-free project covers about 230.5 square kilometres in the Flowers River Igneous Suite and benefits from proximity to tidewater, airstrips and nearby communities with established mining agreements.

Recent drilling at Wolverine has outlined broad, near-surface rare earth mineralization over a 1.7-by-1.2-kilometre area, with strong continuity across 537 samples and notable intercepts grading up to 2.03% total rare earth oxides and an average 28% heavy rare earth contribution. Positioned within the same geological province as globally significant deposits such as Strange Lake and Tanbreez, the under-explored, district-scale system bolsters Saga’s critical metals portfolio and could enhance its strategic role in North American rare earth supply chains.

Backpack and reverse circulation drilling from 2023 to 2025 confirmed high-grade mineralization from surface to shallow depths, with zones exceeding 1% TREO and mineralized tuff units largely untested at depth and along strike. Management frames the acquisition as a major milestone that completes a diversified basket of critical mineral assets, potentially strengthening Saga’s appeal to investors seeking exposure to heavy rare earths in secure jurisdictions.

More about Saga Metals Corp.

Saga Metals Corp. is a North American mineral exploration company focused on discovering and advancing critical metals projects in Tier-1 jurisdictions. Its portfolio spans titanium, uranium, vanadium, lithium and now heavy rare earth elements, targeting supply chains linked to the clean-energy transition and national defence applications in North America.

Average Trading Volume: 275,825

Technical Sentiment Signal: Buy

Current Market Cap: C$40.09M

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