Mr. Jon Ward reports

TARGA CLOSES ACQUISITION OF PAN CANADIAN LITHIUM

Targa Exploration Corp. has completed the acquisition of 100 per cent of the issued and outstanding shares of Pan Canadian Lithium Corp. pursuant to a share exchange agreement dated May 10, 2023. In addition, Cameron Tymstra has been appointed as the Chief Executive Officer and President of Targa.

Pan Canadian Lithium, now a wholly-owned subsidiary of Targa, holds the mining claims to highly prospective lithium projects located in Saskatchewan and Ontario, Canada. The claims cover a total of 49,248 hectares and were identified using regional lake sediment samples obtained from provincial geochemical data that were highly anomalous with lithium pathfinder elements. Targa believes that the projects display significant potential for lithium bearing pegmatites. For additional information regarding the projects held by Pan Canadian Lithium, readers are encouraged to review Targa's news release dated May 11, 2023.

Cameron Tymstra, Chief Executive Officer and President of Targa, commented: "I am excited to be joining the Targa management team as the Company prepares for an extensive field season. Jon has done a tremendous job assembling this high-potential portfolio of lithium assets across Canada and I look forward to launching the Phase 1 exploration programs over the coming months."

Pursuant to the Acquisition Agreement, the Company has issued 5,766,666 common shares in the capital of the Company (the "Consideration Shares") to the shareholders of Pan Canadian Lithium. The Consideration Shares are subject to a four-month hold period pursuant to applicable Canadian securities laws. As part of the Acquisition, Targa has also acquired Pan Canadian Lithium's positive cash position of approximately $240,000.

Appointment of new CEO

Effective immediately, Cameron Tymstra has been appointed as the Chief Executive Officer and President of Targa. Mr. Tymstra is currently President and CEO of Tarachi Gold Corp., a Mexico-focused gold exploration company and has worked in mining and mineral exploration throughout the Americas for the past 15 years. He holds a degree in mineral engineering from the University of Toronto and a Master's in mining management from the South Dakota School of Mines.

Jon Ward will continue working on the Targa management team following closing of the Acquisition in his new role as Vice President of Corporate Development and will remain a director on Targa's board.

About Targa Exploration

Targa Exploration Corp. (CSE: TEX | FRA: V6Y) is a Canadian exploration company engaged in the acquisition, exploration, and development of mineral properties with headquarters in Vancouver, British Columbia.

Technical Information

The scientific and technical content of this news release has been reviewed and approved by Lorne Warner P.Geo., who is a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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