Mr. Cameron Tymstra reports

TARGA ANNOUNCES UPDATE AND OBSERVATIONS FROM OPINACA DRILL PROGRAM

Targa Exploration Corp. has provided updates and observations from the continuing diamond drilling program at its Opinaca gold project located in the James Bay region of Quebec.

Highlights

• Seven drill holes completed with eighth and final drill hole nearing completion;
• Total of 3,272 metres drilled as of Oct. 13;
• Greater than 10 grains of visible gold (VG) seen in drill hole 25OPDD007;
• Gold seen on both sides of drill core at a depth of 460 metres.

"This is the first occurrence of visible gold at Opinaca. Prior to drill hole 25OPDD007 gold had only been found in boulders and samples of the surface till, so this is a big leap forward for the project," commented Targa chief executive officer Cameron Tymstra. "Visible gold in the core is always exciting, especially on a maiden drill program. The association with pyrite and arsenopyrite is also encouraging, as those two sulphides have been observed together in multiple intervals during this drilling campaign. While the visible gold occurred over a short core interval, we are hopeful that this may indicate that we are drilling in the right areas at Opinaca. As exciting as it is to see VG in the core, the assay results will ultimately dictate what these drill holes mean for the project and where we go from here. The final drill hole will be completed in the next one or two days and all drill core from Opinaca will be sent to the lab for analysis at the end of the campaign. We expect assay results before the end of the year."

Drill program update

With the completion of drill hole 25PODD007 (hole 7) at a final depth of 519 metres, a total of 3,272 m has been drilled at Opinaca as of Oct. 13.

The eighth and final drill hole of this campaign is expected to be completed in one or two days with a target depth of 350 metres, bringing the total projected metreage to an estimated 3,620 m. Once completed, logged and sampled, all drill core samples will be shipped together to a lab for analysis. Results are expected prior to the end of the year.

Visible gold

Hole 7 was added to the drill program to test to the north of 25OPDD001 where a metaquartzite unit mineralized with pyrite and pyrrhotite was encountered at the top of that hole followed by a metawacke with observed pyrite and arsenopyrite.

At a depth of 460 m in hole 7 more than ten grains of visible gold were observed on both sides of the drill core within a quartz-pegmatitic vein associated with pyrite, arsenopyrite, and moderate chlorite and weak calcite alteration. The vein occurred within a fine-grained, dark green metawacke.

About the Opinaca gold project

The Opinaca project is located in the James Bay region of Quebec, approximately 45 kilometres south of the all-season Trans-Taiga Road and 140 km northeast of the Eleonore gold mine. The Opinaca project covers 85,267 contiguous hectares of the Opinaca geological subprovince, dominantly a metasedimentary region with neoarchean-aged igneous intrusions including of the Vieux comptoir suite of granites. Till sampling and prospecting work in 2023 and 2024 has identified a seven km long gold target trend near the centre of the project. Boulder sampling in 2024 returned a dozen boulders with anomalous (greater than 0.1 gram per tonne) gold values, including up to 6.7 g/t Au.

Qualified person

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Adrian Lupascu, MSc, PGeo, exploration manager of Targa Exploration, who is a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Targa Exploration Corp.

Targa Exploration is a Canadian exploration company engaged in the acquisition, exploration and development of gold mineral properties with headquarters in Vancouver, B.C. Targa's principal asset is its Opinaca gold project, where a significant gold-in-till anomaly has been identified over a strike length of seven km.

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