SAGA Metals buys Quebec titanium project from Rio Tinto

Canada

VANCOUVER, March 27, 2026 – SAGA Metals has reached an agreement with Rio Tinto Exploration Canada to acquire 100% of the Garneau Titanium Project, which comprises 120 claims covering 64.5 square kilometres near Havre-Sainte-Pierre, Quebec, SAGA Metals announced on Thursday.

The Garneau Project sits within the Havre-Saint-Pierre Anorthosite Complex, a globally significant titanium-bearing district where geological studies have indicated strong exploration potential.

The region hosts Rio Tinto’s Lac Tio Mine deposit, considered one of the world’s highest-grade hard rock titanium operations. The mine is currently in production and yields mainly titanium, with iron and rare earth elements such as scandium as byproducts.

Garneau is located about 80 kilometres north of Lac Tio and 120 kilometres north of the Havre-Saint-Pierre deep-sea port. Rio Tinto has already carried out preliminary work at the asset to prepare it for drill testing, which is necessary to determine economic potential.

“We have secured a highly prospective titanium asset in Quebec’s premier ilmenite district, located in the same anorthosite complex as Rio Tinto’s world-class Lac Tio operation. The geophysical signature on the Garneau property represents a clear target for further exploration. Not only does the geophysical signature display a basin-like morphology directly comparable to Lac Tio, but a massive, ilmenite-rich boulder returning a sample of 32.4% titanium dioxide is a very encouraging start to the project,” said Michael Garagan, CGO and director of SAGA Metals.

Garneau has an established infrastructure base that includes the Romaine hydroelectric complex, which has a total installed capacity of 1.55 GW and an average annual output of 8.0 TWh, and an existing rail link from the mine to the port at Havre-Saint-Pierre.

SAGA Metals is a Canadian mining company focused on critical minerals such as titanium, vanadium, iron, uranium and lithium across Labrador and Quebec. Its properties cover an aggregate 658.5 square kilometres and share significant geological continuity with assets held by Rio Tinto, Winsome Resources, Azimut Exploration and Loyal Metals.

Photo of Lac Tio mine courtesy of Rio Tinto