[SMM Aluminum Flash News] SAGA Acquires Wolverine REE Project to Expand Portfolio

Published: Apr 17, 2026 11:41

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SAGA Metals will acquire the Wolverine rare earth project in Labrador, Canada, gaining full ownership of the asset. The project covers over 230 sq. km and hosts near-surface mineralization with bastnäsite, monazite and allanite, with mid-20% heavy rare earth share. Early drilling shows grades above 1% TREO in some areas, indicating development potential. The deal includes 4.25 million shares and USD 1 million in cash, with additional milestone payments. The company said the move will expand its portfolio and support supply chain needs in energy and defence sectors.

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