Mr. Cameron Tymstra reports

TARGA PROVIDES UPDATE OBSERVATIONS AT EL ZANJON

Targa Exploration Corp. has provided an update to, and correction of, the drill core observations reported in its May 19, 2026, news release related to the company's continuing drill program at El Zanjon gold-silver project in Santa Cruz, Argentina.

Targa's recently appointed vice-president of exploration, Ryan Weston (see May 25, 2026, press release), is currently at El Zanjon project for an initial site visit. After thoroughly reviewing the drill core from drill hole EZD0001 with the project geologist, Mr. Weston has concluded that the visible gold reported at a depth of 105.9 metres and possible electrum at 110.05 metres in EZD0001 were misidentified. The mineralization in question has dulled in appearance since first observed, and the company strongly believes there is no visible gold or electrum that can be observed in hole EZD0001.

The company has completed a review of its project safety, quality assurance/quality control and sampling protocols from drilling through logging, core cutting and sampling. While the company believes that the procedures currently in place at the project are appropriate and that the misidentification of the mineralization in hole EZD0001 was an isolated incident, the company has updated its reporting protocols to reduce the risk of similar occurrences in the future.

Drilling at El Zanjon is continuing, with six drill holes complete. Assay results from hole EZD0001 and hole EZD0002 are pending. The company's exploration plans will continue to be evaluated based on assay results and continuing technical assessment.

Technical disclosure

The technical information contained in this news release has been reviewed and approved by Ryan Weston, PGeo, vice-president of exploration for Targa, who is the qualified person for El Zanjon project as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Targa Exploration Corp.

Targa is a Canadian exploration company engaged in the acquisition, exploration and development of gold mineral properties with headquarters in Vancouver, B.C. The company's focus is on early-stage projects in premier mining jurisdictions with strong potential for making Tier 1 grassroots precious metal discoveries. Targa's principal asset is its Opinaca gold project in Quebec where widespread gold mineralization was recently discovered during a maiden drill campaign in 2025. The company has also recently acquired options to earn up-to-80-per-cent equity interests in the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, and is actively drilling at El Zanjon.

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