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Saga Metals Completes Wolverine Heavy Rare Earth Element Project Buy

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Saga Metals (SAGA.V) closed the acquisition of all of the issued and outstanding shares of Catalyst Rare Metals, which holds a 100% interest in the Wolverine rare earth element (REE) project, located near the coast of central Labrador, Canada, it said in a statement on Friday.

The company plans to implement a 2026 work program that is designed to advance the Wolverine REE project toward a maiden NI 43-101 mineral resource estimate through diamond drilling, targeted follow-up drilling, and evaluation of additional high-priority targets. The company's primary focus will be on diamond drilling for resource validation through a 4,000-5,000 meters drill program expected to start at the beginning of August 2026 with metallurgical test work to follow, it said.

Shares of the company closed down 2% at C$0.48 on Thursday on the TSX Venture Exchange.

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