What Saga Metals does

Saga Metals Corp. is a Vancouver-headquartered, publicly traded mineral exploration company (TSXV: SAGA, OTCQB: SAGMF, FSE: 20H) focused on critical minerals essential to energy transition and defense supply chains. The company holds six 100%-owned exploration projects spanning Labrador and Quebec, targeting titanium-vanadium-iron (Radar Ti-V-Fe flagship), uranium (Double Mer), lithium (Legacy Lithium), iron ore (North Wind), titanium (Garneau), and heavy rare earth elements (Wolverine). Active programs in 2025-2026 include a 15,000-meter drill campaign at Radar designed to underpin a maiden NI 43-101 Mineral Resource Estimate.

The business model is a pre-revenue, project-generator-plus-explorer hybrid. Saga generates optionality by advancing its wholly owned assets while partnering select ground with majors to share exploration cost; the Legacy Lithium JV with Rio Tinto Exploration Canada commits up to C$44.4M in staged funding, materially de-risking that asset's exploration budget. The company has supplemented the portfolio through targeted M&A, including the Garneau Titanium acquisition from Rio Tinto and the Catalyst Rare Metals transaction consolidating the Wolverine REE district to 29,450 hectares.

Funding flows from equity markets, flow-through share structures eligible for Canadian tax incentives, and minor non-dilutive sources such as the C$225K JEA grant received in April 2026. Multiple brokered and non-brokered placements across 2025 and 2026 — most recently a C$10.2M oversubscribed placement in May 2026 — have funded drilling, geophysics, assaying, and corporate overhead. With no offtake contracts, no production, and no contracted revenue, cash flow generation is several years out and contingent on resource conversion and subsequent development or sale decisions.

Name

Saga Metals

Legal name

Saga Metals Corp.

Website

https://sagametals.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Saga Metals Corp. is a Vancouver-based, publicly traded junior mineral exploration company advancing six 100%-owned critical minerals projects (titanium, vanadium, uranium, lithium, REE, iron) across Labrador and Quebec, with the flagship Radar Ti-V-Fe Project and a Rio Tinto JV on Legacy Lithium.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Resource Development

NAICS

Other Metal Ore Mining (212290), Iron Ore Mining (212210), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Mine Closure, Reclamation & Environmental Services (Precious Metals Sites) (IMAKAEAL), Precious Metals Ore Processing & Beneficiation (IMAKAEAD), Precious Metals Exploration & Project Development (IMAKAEAI)

Keywords

• Critical minerals exploration
• Titanium vanadium mining
• Uranium lithium projects
• Rare earth elements
• Iron ore exploration

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Pre-revenue Mineral Exploration: Saga Metals is a publicly traded mining exploration company with no current product revenue. Future revenue model is anticipated to derive from the discovery, development, and eventual production/sale of critical minerals (titanium, vanadium, uranium, lithium, iron ore, REE) from its 100%-owned projects in Labrador and Quebec. Currently funded through equity financings (private placements, brokered offerings, flow-through shares).
2. Joint Venture / Option Agreement Revenue (Legacy Lithium): Two-stage option to joint venture agreement with Rio Tinto Exploration Canada (RTEC) on Legacy Lithium Project: Stage 1 - C$410,190 cash + C$9,571,100 exploration expenditures for 51% (RTEC); Stage 2 - C$34,182,500 expenditure for 75% (RTEC). Includes C$273,460 in future cash payments to Saga. Future mineral sales and royalty streams are anticipated.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Saga Metals Corp. is a publicly traded mining exploration company focused on acquiring, exploring, and developing 100%-owned critical mineral properties in Tier-1 Canadian jurisdictions (Labrador and Quebec) targeting titanium, vanadium, uranium, lithium, high-purity iron ore, and heavy rare earth elements. The company funds exploration through equity financings and government grants, with future revenue anticipated from offtake agreements, joint ventures, royalties, and eventual mineral production sales.

Product overview

Saga Metals Corp. is a North American mining exploration company operating as a portfolio of six discrete 100%-owned critical mineral exploration projects rather than a unified software product. The portfolio is anchored by the Radar Titanium Project in Labrador (the flagship, advancing toward a maiden Mineral Resource Estimate) and spans four additional core projects — Double Mer Uranium, Legacy Lithium (under Rio Tinto JV), North Wind Iron Ore, and the newly acquired Garneau Titanium (from Rio Tinto) — plus the Wolverine Heavy REE Project in Labrador (definitive agreement signed). Together the projects expose the Company to titanium, vanadium, uranium, lithium, iron ore, and rare earth elements across Tier-1 Canadian jurisdictions (Quebec and Labrador), supporting North American critical minerals supply security for green energy transition and defence applications.

Differentiator

Problem solved

Functional benefit

Brands

• Radar Titanium Project: 100%-owned district-scale titanium-vanadium-iron (Ti-V-Fe) project near Cartwright, Labrador, 24,175 hectares covering the entire Dykes River intrusive complex (~160 km²).
• Double Mer Uranium Project
• Legacy Lithium Project

Products and services

• Radar Titanium-Vanadium-Iron Project 100%-owned district-scale Titanium-Vanadium-Iron (Ti-V-Fe) intrusion near Cartwright, Labrador, spanning 24,175 hectares and covering the entire Dykes River intrusive complex (~160 km²). Advancing toward a maiden NI 43-101 Mineral Resource Estimate with a 15,000-metre Phase 1 diamond drilling program focused on the Trapper Zone.
• Double Mer Uranium Project Uranium exploration property in Labrador, Canada, spanning 1,024 claims across 25,600 hectares covering an 18 km east-west uranium radiometric trend. Fully permitted, drill-ready, with a fully winterized on-site camp. Comparable potential to Labrador's Central Mineral Belt.
• Legacy Lithium Project 65,849-hectare lithium property in Quebec's James Bay region, along strike from major discoveries by Rio Tinto, Li-FT Power, Azimut Exploration, and Loyal Lithium. Currently operated by Rio Tinto Exploration Canada (RTEC) under a two-stage option to joint venture agreement totaling C$44.4 million in financial commitment to earn up to 75%.
• North Wind Iron Ore Project 6,375-hectare (255 claims) iron ore property located 16 km southwest of Schefferville, Quebec, within the prolific Labrador Trough. Supported by a 2013 NI 43-101 historical resource estimate from New Millennium Iron (8 drill holes averaging 20.74% Total Fe over 590 m). High-purity iron ore added to Canada's critical minerals list in June 2024.
• Garneau Titanium Project 100%-owned, 120-claim (6,450.54 hectare) drill-ready ilmenite target near Havre-Saint-Pierre, Quebec, acquired from Rio Tinto Exploration Canada Inc. on March 26, 2026. Located in the Havre-Saint-Pierre Anorthosite Complex alongside Rio Tinto's world-class Lac Tio mine, with a 4.5 × 7.5 km magnetic anomaly and a massive ilmenite boulder grading 32.4% TiO2.
• Wolverine Heavy Rare Earth Element Project Heavy rare earth project near the coast of central Labrador, Canada, comprising five contiguous mineral licenses totalling approximately 230.5 km² (expanded to ~29,450 hectares post-title transfer). Hosted within the Flowers River Igneous Suite peralkaline caldera system, with 2025 RC drilling confirming broad near-surface REE mineralization across a 1.7 km × 1.2 km area with peak assays of 2.03% TREO and approximately 28% heavy rare earth oxide contribution. Being acquired via share purchase agreement with Catalyst Rare Metals Ltd.

Quantifiable outcome

• 100% drill success rate with 13,809 m of drilling and 57 holes confirming VTM mineralization at Radar (as of May 21, 2026)
• +6 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

14 partnerships are on record, tiered minor, core and flagship.

• Precious Metals Investments Ltd.minorGTM or Marketing Partner · 17 April 2026Engaged for 12 months of investor relations and marketing services at a cost of $245,000 USD.
• Catalyst Rare Metals Vendors (private vendors)coreOthers · 16 April 2026Title transfer agreement with two private vendors to expand Wolverine Heavy REE Project in Labrador: acquiring 100% interest in three contiguous mineral licenses comprising 54 claims (~1,350 hectares); consideration of $52,700 cash + $50,000 at six months + 500,000 common shares, subject to TSX Venture Exchange approval. Vendors granted a 2% net smelter returns royalty with option to repurchase 1% for $500,000.
• Catalyst Rare Metals Ltd.coreStrategic or Co-development Partner · 13 April 2026Definitive share purchase agreement to acquire all outstanding shares of Catalyst Rare Metals Ltd. (which holds 100% interest in Wolverine REE Project in Labrador). Initial consideration: 4,250,000 Saga Shares + $1,000,000 cash. Milestone payments tied to resource definition: 5M+7M+5M+5M+5M Saga Shares and $1M+$1M+$1M+$1M+$1M cash at Inferred MRE / Indicated MRE / PEA NPV>=$2.5B / PFS NPV>=$2.5B + IRR>=30% / FS NPV>=$2.5B + IRR>=30% milestones respectively. Approximately 82% of Consideration Shares subject to 36-month escrow. Vendor observer board seat granted.
• Dias AirbornecoreImplementation/ SI/ Consulting Partner · 8 April 2026Engaged Dias Airborne to conduct an advanced helicopter-borne geophysical survey (Full Tensor Magnetic Gradiometry/QMAGT) over the Radar Ti-V-Fe Project in Labrador. The 157-line survey at 75 m line spacing (April 27-28, 2026) imaged internal magnetic layering and identified the untested Falcon Zone as a priority follow-up target along the same magnetic trend as the drill-tested Trapper South area. Results confirmed a continuous magnetic anomaly comparable in scale to the world's largest titanium-vanadium deposits.
• Rio Tinto Exploration Canada Inc. (RTEC)flagshipStrategic or Co-development Partner · 26 March 2026Two-stage option to joint venture agreement on Legacy Lithium Project: Stage 1 - C$410,190 cash + C$273,460 future cash payments + C$9,571,100 exploration expenditures for RTEC to earn 51% (Saga retains 49%); Stage 2 - C$34,182,500 additional expenditure for RTEC to earn 75% (Saga retains 25%). RTEC is operator. Total financial commitment to earn 75%: C$44.4 million. RTEC also divested the Garneau Project to Saga in lieu of $434,298 of expenditures it was otherwise required to incur under the Legacy JV agreement, expanding the strategic relationship.
• Rio Tinto Exploration Canada Inc. (RTEC) — Garneau Asset DivestitureflagshipStrategic or Co-development Partner · 26 March 2026RTEC assigned the Garneau Project (120 claims, 6,450.54 hectares near Havre-Saint-Pierre, Quebec, prospective for titanium/hemo-ilmenite) to Saga in lieu of $434,298 in exploration expenditures RTEC was otherwise required to incur on Saga's Legacy Lithium Project. Garneau was previously explored by Rio Tinto (2022 airborne magnetic + VTEM survey, 747 line-km, defining a 4.5 × 7.5 km magnetic low anomaly and a hemo-ilmenite boulder grading 32.4% TiO2).
• Equity.Guru Media Inc.minorGTM or Marketing Partner · 23 March 2026Engagement for digital media and investor engagement services (announced January 29, 2026); subsequently terminated as part of the March 26, 2026 Garneau acquisition closing agreements.
• Machai CapitalminorGTM or Marketing Partner · 30 December 2025Digital marketing agreement to expand investor awareness and increase SAGA's visibility among retail investors following the completion of the 2025 North Wind Iron Ore field program.
• Dahrouge Exploration / Drilling ContractorscoreImplementation/ SI/ Consulting Partner · 29 October 2025Dahrouge Exploration and contract drilling teams mobilized for the 15,000-meter maiden Mineral Resource Estimate drill program at the Radar Project's Trapper Zone. Phase 1 program targets 25-30 holes exploring vanadiferous titanomagnetite mineralization, with results expected in the first half of 2026.
• Marketing services providers (undisclosed)minorGTM or Marketing Partner · 11 October 2025Entered into marketing agreements to promote investor awareness and increase visibility for critical minerals projects alongside the closing of the C$2,988,024.64 non-brokered private placement.
• Dahrouge Geological ConsultingcoreImplementation/ SI/ Consulting Partner · 1 January 2024Saga engaged Dahrouge Exploration to increase expert support. Dahrouge Geological Consulting is a North American mineral exploration, consulting, and project management group based in Canada and the United States, led by principal Jody Dahrouge. The Dahrouge family were one of the vendors of Patriot's Corvette Project in James Bay and remain exploration consultants to Patriot Battery Metals.
• Geominex Consultants Inc.coreImplementation/ SI/ Consulting PartnerGeominex Consultants provides geological and operational services to Saga Metals, including Riley Ledoux, P.Geo (Exploration Manager) and Ryan Pownall (Operations Manager) on the technical team.
• Alphabridge Group Inc.minorGTM or Marketing PartnerFee-based equity research coverage on Saga Metals (TSXV: SAGA / OTCQB: SAGMF / FSE: 20H). Analyst Vasant Jain, CFA provides fee-based monitoring and research reports. Alphabridge provides fee-based coverage; the fees were not dependent on opinions provided.
• New Millennium IronminorOthersNew Millennium Iron completed 8 historical drill holes at North Wind Property (averaging 20.74% Total Fe over 590 m) supporting a 2013 NI 43-101 compliant historical resource estimate.

Scale indicators22 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Li-FT Power: Junior lithium hard-rock explorer operating in Quebec's James Bay region along the same geological trend as Saga's Legacy Lithium Project. Closely comparable in commodity focus (lithium), jurisdiction (Quebec Tier-1), and stage of exploration (pre-resource / maiden MRE).
• Defense Metals: Canadian rare earth element developer focused on the Wicheeda REE project in British Columbia. Comparable as a pre-revenue North American REE-focused junior explorer targeting light-to-medium REE for defense and clean energy supply chains.
• Loyal Lithium: Junior lithium explorer operating in the James Bay region of Quebec, mentioned by Saga as a neighboring operator along the same lithium trend as Legacy Lithium. Comparable commodity focus, jurisdiction, and pre-resource stage.
• New Millennium Iron: Historical operator of the North Wind Iron Ore Project (8 drill holes, 20.74% Total Fe) that Saga references for its Labrador Trough project. Closely comparable as a junior iron ore developer in the same prolific Labrador Trough jurisdiction.
• Torngat Metals: Rare earth element developer advancing the Strange Lake project in northern Quebec, which Saga cites as a geological analogue to its Wolverine REE Project. Directly comparable HREE focus and Quebec/Labrador Tier-1 jurisdiction positioning.
• Patriot Battery Metals: Canadian junior mining company focused on lithium and critical minerals exploration in the James Bay region of Quebec. Directly comparable to Saga's Legacy Lithium Project in the same La Grande sub-province, with a similar pre-resource/early-resource stage and end-market focus on EV/battery materials.

Emerging players

• FPX Nickel: Canadian junior critical minerals company developing the Baptiste nickel project in British Columbia with awaruite (nickel-iron alloy) mineralization. Comparable as a publicly traded North American critical minerals developer pursuing a Tier-1 jurisdiction resource and aligned with clean energy/defense supply chain themes.
• Mkango Resources: UK/Canada-listed rare earth element developer focused on the Songwe Hill REE project in Malawi. Comparable as a pre-revenue, publicly traded REE-focused junior explorer with a clear offtake and downstream processing thesis, though operating in a different jurisdiction.

Broad incumbents

• Rio Tinto Group: Global diversified mining major that is both Saga's JV partner (Legacy Lithium, Garneau) and operates the world-class Lac Tio ilmenite mine adjacent to Saga's Garneau Project. Comparable as the dominant incumbent in the titanium and critical minerals space relevant to Saga's portfolio.

Regional players

• Azimut Exploration: Quebec-focused mineral exploration company with a diversified critical minerals portfolio including lithium, REE, uranium, and copper. Comparable to Saga's diversified critical minerals basket and Quebec/Labrador operating geography, though operating from a different region of Quebec.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=_YG6fOFHoQQ
• Xx.com/sagametals
• Facebookfacebook.com/sagametals
• LinkedInlinkedin.com/company/sagametals

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saga Metals