Mr. Cameron Tymstra reports

TARGA ANNOUNCES 5KM-LONG GOLD ANOMALY FROM OPINACA TILL SAMPLING

Targa Exploration Corp. has provided additional analysis and interpretation of the results of its extensive till sampling program on the company's Opinaca project in Quebec.

Highlights

Two gold-arsenic-tungsten anomalies identified from till sampling

Central gold anomaly is 5km x 4km and open-ended in the up-ice direction

Staked an additional 41,672ha to cover potential up-ice source

"Finding such a large gold anomaly at the Opinaca Project is a fantastic exploration opportunity for Targa," commented Cameron Tymstra, CEO of Targa. "We now have both lithium and gold targets on this project which speaks to the prospectivity for multiple deposit types in these underexplored regions. As a first mover in this area, we were able to nearly double our land holdings to cover potential up-ice targets that could be the source of these lithium and gold deposit indicator elements. The central gold anomaly consists of overlapping elevated gold, arsenic, antimony, and tungsten values over an area that is up to 4km wide and 5km long and is open-ended in the direction of historic ice movement, representing a very significant target for us to follow up on in 2024."

Opinaca Results - Gold Anomalies Identified

After identifying a lithium-cesium target from the 2023 Opinaca till sampling program (see the Company's press release dated January 10, 2024 for details of the sampling program) the Targa and Kenorland Minerals technical teams have further identified multiple gold anomalies at the Opinaca Project. Two separate areas of overlapping anomalous values for gold, arsenic, tungsten, antimony, and silver in the till samples have been located on the Opinaca Project with gold values reaching as high as 271ppb and arsenic values up to 193ppm. Multiple samples returned greater than 50ppb from both target areas. Till samples were taken every 150m on lines spaced 1km apart.

The first, larger anomaly sits in the middle of the original Opinaca Project boundary and measures approximately 4km wide by 5km long in the estimated direction of historic glacial ice movement. The second anomaly is approximately 1km wide by 2km in length and is host to the highest gold value from the till program. The second anomaly is located at the southeastern extent of the till sample grid, in a similar position to the previously announced lithium anomaly. Both anomalies appear open-ended in the up-ice direction.

Targa will immediately begin making plans for a Phase 2 till program at the Opinaca Project for early summer 2024 to extend the grid to the northeast of the gold and lithium anomalies in order to locate the head of the till trains and possible source deposits of these elements. A much more detailed mapping and outcrop sampling program in these areas will also be planned for the summer.

"The results highlight the importance of a multidisciplinary approach to exploration," commented John Robins, Advisor to Targa. "Many of the areas we are sampling are historically under-explored and have the potential to host a variety of deposit types. These gold results demonstrate the value of keeping an open mind when it comes to project evaluation. As they say, gold is where you find it!"

Opinaca Project Expansion

As a result of the significant lithium and gold anomalies identified in the sample program, the Company has acquired, through staking, an additional 807 mineral claim cells covering 41,672ha to the north, east, and northeast of the current Opinaca Project limits. This increases the total size of the Opinaca Project to 1,651 contiguous mineral claim cells covering 85,267ha. The additional claims were added to potentially cover any up-ice sources of the anomalous lithium and gold deposit indicator elements and cover the northwest-southeast structural framework that has been interpreted from regional geophysics.

"Looking at other gold occurrences in Quebec, typical gold-in-till trains are often 5 to 10km in length." Mr. Tymstra commented. "With 30km of ground now staked in the up-ice direction from the central gold target and more than 20km above the secondary target, our team and advisors believe there is a very strong probability that the source of these anomalous values lies within our expanded property boundaries. While it is too early to determine what deposit type might be the source, the type of gold deposit we could potentially find in this area may be akin to the Eleonore deposit. Eleonore is located in the vicinity of the Opinaca-La Grande sub-province boundary and is in the presence of similar metasedimentary units such as the 2a/3a Laguiche Complex with a high metamorphic grade."

About the Opinaca Project

The Opinaca Project is located in the James Bay region of Quebec, approximately 40km south of Patriot Battery Metals' Corvette lithium discovery, 45km south of the all-season Trans-Taiga road and 120km northwest of the Renard Diamond Mine. The Opinaca Project covers 85,267 contiguous hectares of the Opinaca geological sub-province, dominantly a metasedimentary region with neoarchean-aged igneous intrusions including of the Vieux Comptoir suite of granites.

Sample Procedure and QA/QC

Till samples were sieved to 230 mesh and sent to Bureau Veritas' lab in Timmins, Ontario. Each sample underwent multi-element analysis by four-acid digestion and analysis packages ICP-AES for major elements and ICP-MS for trace elements. Gold analysis was done by aqua regia followed by ICP-MS. As part of Targa and Kenorland's QA/QC procedures standard and blank samples were inserted every 20 samples. Duplicate samples were also analyzed every 20 samples. Internal lab blanks and standards were also used by Bureau Veritas.

Qualified Person

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Adrian Lupascu M. Sc. P.Geo., Exploration Manager of Targa Exploration Corp., who is a "qualified person" within the meaning of National Instrument 43 -101- Standards of Disclosure for Mineral Projects.

About Targa

Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian lithium exploration company engaged in the acquisition, exploration, and development of lithium mineral properties with headquarters in Vancouver, British Columbia. Targa's lithium project portfolio consists of fifteen projects in the provinces of Quebec, Ontario, Manitoba, and Saskatchewan and covers over 400,000 hectares of prospective ground, most of which has never been explored previously for lithium.

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