02:15 PM EDT, 08/05/2025 (MT Newswires) -- Saga Metals ( SAGMF ) on Tuesday rose 13% after its geophysics team confirmed a three-kilometer continuous magnetic anomaly in the Trapper zone that remains open in both directions along strike, at its Radar Titanium property in Labrador.

"The striking lateral continuity of the oxide layering in the Trapper Zone suggests that the layering is contiguous with the oxide layering identified in the Hawkeye Zone, adding further data to support a potential 20 km oxide layer strike," said SAGA Director Michael Garagan.

The company said the "high definition" details of the Trapper zone ground magnetic anomalies indicate multiple layers of the strongest magnetic layering and define additional detail to the regional magnetic responses. The pattern of magnetic anomalies indicates that the design of the next drilling and sampling phases "should consider both the early geometry of the Dykes River Intrusive Complex and a later phase of open folding."

SAGA's letter of intent was approved under Newfoundland and Labrador's Junior Explorer Assistance 2025 program as a Critical Minerals Primary Exploration Target. The company said, with up to $143,949 in non-dilutive funding already approved, this support continues to "offset exploration costs while advancing shareholder value."

"With simple homogenous geochemistry, large oxide layers, seasoned experts supporting our technical analysis, upgraded infrastructure within the Trapper zone and strong provincial support through the JEA program we can fast track development and create meaningful value to shareholders in the near term at the Radar project," said Garagan.

Shares of the company were last seen up $0.04 at $0.34 on the TSX Venture Exchange.

Price: 0.34, Change: +0.04, Percent Change: +13.33