Saga Metals Corp. (TSXV:SAGA) — Radar Locked on Discovery

Ticker: TSXV:SAGA  |  Sector: Critical Minerals / Exploration  |  Rating: BUY  |  Price Target: C$1.18  (+156% Upside)  |  Date: 31 Oct 2025

A call option on discovery

Saga Metals is a 2023-founded Canadian junior explorer focused on critical minerals essential to the energy transition — titanium, vanadium, lithium, and uranium. Its flagship Radar Titanium-Vanadium-Iron Project in Labrador positions Saga at the centre of North America’s resource-security push.

Following a fully subscribed placement, Saga has commenced a 15,000 m drill campaign at Radar, targeting a maiden Mineral Resource Estimate (MRE) in 2026 — the event that will define whether the company re-rates or fades.

Key Takeaways

• BUY rating with a C$1.18 price target (+156 % upside, 12–18 month horizon).
• Flagship focus: Radar Ti-V-Fe Project — 24 175 ha with early drill intercepts up to 31.35 % Fe, 6.32 % TiO₂, 0.43 % V₂O₅.
• Strategic JV with Rio Tinto on Saga’s Quebec lithium assets offers non-dilutive upside.
• Critical minerals momentum: policy-driven demand for North American supply underpins long-term value.
• Risks: Dilution, liquidity pressure.

12-Month Share Performance

The Radar Project sits within the Grenville Geological Province — host to globally significant Ti-V-Fe systems like La Blache and BlackRock. With infrastructure access, favourable policy tailwinds, and early high-grade results, Saga’s risk/reward is asymmetric: limited downside, multi-bagger potential if discovery success follows.

Catalysts Ahead

• Q1–Q2 2026: Initial drill results from Radar.
• H2 2026: Maiden MRE.
• Potential JV or strategic funding for Radar development.

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